The Ultimate Cheapskate on “How to Retire the Cheapskate Way”

Folks who were lucky enough to be in New Orleans for Life@50+ National Event got a taste of the cheap life from AARP’s savings expert and Ultimate Cheapskate Jeff Yeager. Think living frugally has to be boring? Think again – and Jeff’s session was anything but. Jeff shared some advice from his upcoming book, How to Retire the Cheapskate Way: The Ultimate Cheapskate’s Guide to a Better, Earlier, Happier Retirement (due out in December).  A lot of what he shared is applicable for folks at …

Stay Hydrated Sure, But Why Are We Paying for Filtered Tap Water?

Talk about the miracle of brilliant marketing: Did you know most bottled water is actually filtered municipal water? Put it in a pretty bottle, throw on a sexy label and mention something about a mountain spring, and we’re willing to shell out  2000 times the amount of money it costs for something we could get virtually free (from whence it came to begin with!) Eee-gads have we been hoodwinked! I know, I know, there is something to be said for the convenience …

The Takeaway: Future 401(k)s Will Look More Like Old-School Pensions

More 401(k) plan sponsors are offering to pay benefits in a form that guarantees a set level of monthly income, regardless of how long you live. And more employers are beginning to offer these plans, Time’s Dan Kadlec reports. “Before long your 401(k) may look a lot more like your dad’s pension,” writes Kadlec. That’s a good thing. Traditional pensions that pay a set monthly income to retirees, based on their wages and length of service, were once the foundation of retirement. Along with …

Winners Show Off Frugality in AARP Savings Challenge

Once or twice a year for the past four years I’ve had the pleasure of hosting an online “Savings Challenge” here on the AARP website. Members of the Savings Challenge group – now more than 5,000 strong – compete in weekly challenges throughout the month-long contest, and then three overall winners are selected at the end of the Challenge. Savings Challenges are one of the true highlights of my year. I get a sort of cheapskate high during them, like …

The Takeaway: Saving for Retirement? Why Not to Think Big Picture

When it comes to saving enough for retirement, it’s important to keep the big picture in mind, right? Wrong, say researchers from Boston College’s Center for Retirement Research; the href=”http://www.chicagotribune.com/business/yourmoney/sc-cons-0426-started-20120427,0,1799363.story”>best strategy is to think in small, concrete steps.

Turn Your Car Payment Into a Savings Strategy

I noticed an interesting article from the Detroit Free Press about a trend that doesn’t bode well for the auto industry, but speaks to America’s new frugality. It also reminded me of an old cheapskate tip for building your savings or retirement accounts in relatively painless fashion. The article discussed new research by the Michigan-based firm R.L. Polk that shows that Americans who buy new cars are now keeping those cars for almost six years. Having never bought a new car …