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Selfishly Employed And Cheapskately Spend For Retirement

Friday, January 18, 2013 - 5:05 PM
Some of you may miss this article from marketwatch.com:

How to retire like a cheapskate—and live well - Robert Powell - MarketWatch

On the other side of the coin, I would rather live handsomely after I retire without having to worry about still earning income and about unreasonable spending restrictions.
4
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
1. Friday, January 18, 2013 - 7:19 PM
51, given a choice, I suspect most of us would prefer that too ;) It would be terrific to have infinite resources which allow one to indulge every single whim.  But I think the true key to living well (at any time and especially in retirement) is knowing and honoring one's level of "enough" even when surrounded by tempting alternatives.  "Enough" is a mindset and attitude which reflects one's values, priorities and goals, and of course varies by individual. 

I wish that the media would stop using unflattering terms like "cheapskate" and "miser" - no wonder saving, retiring debt, and living conservatively are looked down on.  Changing the labels might be a good way to start changing perspectives. 

 
5
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,270
2. Friday, January 18, 2013 - 7:37 PM
Re: pearlbrown 1. Friday, January 18, 2013 - 7:19 PM

I wonder what happened to the term "thrifty". That, at one time, used to be an admirable trait. After all, we have government and military employees that can invest into a Thrift Savings Plan (TSP).
3
ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,216
3. Friday, January 18, 2013 - 8:27 PM
That was what I meant by "unreasonable spending restrictions."  There is a balance for every matter.  To be thrift and frugal should be a goal for every one, not only the retirees.  But having to worry about making more money and/or concerned about every spending items, even necessary ones will spoil all the joy for retirement (or non-retiring life). 

I was just making a case for the other side of the coin, which is more carefree, but certainly still matching the goal of being frugal.

SB: You may be the first DA member (other than Ken of course) to break the 1K posts?:D
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
4. Friday, January 18, 2013 - 8:34 PM
Shorebreak, I imagine the term "thrifty" has fallen out of fashion, much like Thrifty "Green Stamps" ;)

My heart goes out to the younger generation, many of whom are not being exposed to financial literacy basics at home because nobody there understands them either.  They are like lambs being led to slaughter by financial institutions and credit card lenders, it's probably going to have to become really KEWWWWWL to pursue deferred gratification and rational consumption or, alternately, for a popular figure to endorse it before they'll get on board.  I put the chances of that somewhere between slim and none given the constant "buy buy buy" "more more more" media messages, but stranger things have happened. 
3
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,270
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