Frugal retirement.
You are going to have to get used to the idea.
It doesn’t have to be a bad thing. You have probably been frugal your whole life. If not, start now. It is an easier way to have more money than always working more.
If you are thinking of retiring early or even retiring at all you will want to stretch your money further and make it last longer by living frugally.
It is kind of fun to be frugal. It is a rewarding habit that pays off your entire life.
Besides, I don’t think you can spend a lifetime with frugal retirement habits and then start spending in retirement. You will live your retired life in a similar way as you do now.
Why not get frugal now? It will pay off now and in the future. Be as cheap as you can to make your goals happen. Retire cheap and retire sooner.
Frugality is not a bad thing. It is a common thread amongst people who do fine financially.
Even the richest people in the world watch what they spend money on. They pick and choose how to spend it. They don’t buy everything they want. They want a cheaper retirement just like you do.
It is only people who value money, and value keeping money available for future spending who do well financially.
I see this through all spectrums, from extreme wealth to lower income levels.
Giant companies do not merge with, take over and buy other companies without carefully analyzing the financials or the money. They try not to throw money away on losing ventures. They want to make more money, not less. Maybe a wealthy businessperson does not shop for clothes on sale or clip coupons, but that businessperson would look for ways to control expenses in the business. He would not buy a house he could not afford. He would buy a car that makes sense financially. He would choose all his purchases carefully.
Maybe you do not get involved with big business deals and pore over the financial reports of companies. But you can be frugal with all your expenses. Without being frugal you will lose the game of life. You will always be short of money. You will always be in debt. You will always struggle. And your life will always be stressful.
If you truly want to retire early and have a frugal retirement you will need to be on top of your finances. All that means is that you guard your expenses and know what is going on. If you are married you need to be in harmony with your spouse. You two have to be of a like mind with your spending. If you aren’t you will suffer.
Having a frugal retirement and a frugal life is not that hard. You shop the sales. You get deals. You don’t spend all you have. You evaluate your rent vs buy decisions. You are careful with your money. You find a way to get out of debt by radically changing your lifestyle, going bankrupt, letting your house go, or some other combination. It does not have to be that hard.
To me, it is just as satisfying to find clothes at Goodwill as at a department store. In fact, it is much more satisfying to dress well for less. Then I have more money to do other good things for myself. I dress well and most of my clothes have come from Goodwill. My daughter is a very good teenage dresser and most of her clothes she finds at Goodwill or on sale or at good deals.
Shopping is fun. The types of clothes I want are not always available at Goodwill. But they are not always available at the department store either. I have gone into great department stores with plenty of money and wanted to upgrade my wardrobe that day and gone away empty-handed because they did not have what I wanted. The argument that you can’t get what you want at Goodwill doesn’t make sense to me. You can’t always find what you want at any store.
Shopping is fun for me as long as I am buying what I want and what I think is best for me. Getting the proper vehicle, well-fitting clothes, supportive shoes and retirement furniture that is perfect for my life is my shopping goal.
I know many men do not like to shop. The reason they don’t is that they are there with their wives and they do not like their wives spending money on things they have no interest in. It is critical to your happiness and your early retirement goals to have a spouse who wants a frugal retirement just like you do.
When I go shopping with my daughter she brings her own money to buy what she wants. I help her with the cost, but often she is happiest using her own money.
Who isn’t thrilled to uncover a great deal? Don’t we all love to find bargains, whether it is my daughter finding beautiful earrings for $1 at a clearance corner at the pharmacy, a millionaire buying a used Porsche for $50,000 less than a new or Warren Buffet buying shares of an undervalued company or you buying a retirement trailer for a great deal?
We all are happiest when we are being frugal. Keeping more of your money for later spending is all being frugal. Find the deals, watch what you spend on, be careful, and think twice before you spend. It always helps. Finding deals, and shopping sales work at every level, especially now for your frugal retirement.
