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Living Frugally in Retirement

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By Edited Nov 13, 2013 0 0

You worked your whole life for this opportunity. Now is the time to seize it. There is no better way to seize it than to focus on making in sustainable. The best way to make sure that retirement is sustainable is by living frugally. Living frugally in retirement can be very challenging. With a lot more free time on your hands it can be difficult to spend time doing what you  enjoy while not spending money. At the same time, no one works their whole life to live on a macaroni and cheese budget. Spending money is a good thing. It just has to be done in a responsible manner. Live frugally in retirement to show your appreciation to the things you’ve done. That is, after an extravagant adventure doing what you always dreamed of. I recommend seeing the world. After you get that out of your system it’s time to get started.

Do What You Love


One of the best ways to do what you love all day at no cost is making a career out of it. If you love to golf then consider giving golfing lessons. Maybe you could open a golf course. Anything that lets you break even while doing what you love. The great thing about starting a business after you already have an income is that you can focus on the part of it that you enjoy. If you don’t want to hang around at a golf course you open then it’s easier to hire someone when you don’t need to make much more than revenue. It’s a great way to live.

You're not a Bank


One of the biggest challenges after retirement is often family. Those that know that you have enough money to survive for the rest of your life often feel that you should be willing to help them. The rule should be to never cut into the money you live on. People will tell you desperate stories. If they really are desperate then maybe you could give them a place to sleep at night but do not give them the money that you rely on. Nothing can take you out of retirement faster than well meaning but unsustainable requests for money. If you really feel the need to help someone then find another way to make the money for them. Maybe you could get a part job to pay for the money they borrow. Otherwise it is completely unsustainable.

Focus on the Frugal

You might notice that the two suggestions have little to do with conventional frugality lessons. That is true. Being retired puts you in a much different boat. Odds are, you are already prepared to survive. The budget has probably already been put in place. You also are in a much better position to focus on enjoying your life. My third recommendation shouldn’t come at the cost of enjoying your life (within your budget.) You should do your best to follow conventional frugal wisdom like reusing what you have and not buying what you don’t need. Even if you are confident that your budget will be fine for you, do your best to practice cutting down now. It will give you more money for the future and a safety net to protect you from the unpredictable.


Being retired is not a gift. It’s a reward for working hard your whole life. It’s a time that should be enjoyed but it is also a  time that should be sustained. Living frugally in retirement can ensure that it is sustained. You worked hard for this opportunity so have some fun.

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