5 simple ways to save in retirement

It's time to live a little -- and these tips can help you stretch your dollars to get the most enjoyment out of your later years.

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39Comments
Jan 29, 2013 8:30AM
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Why can't MSN ever write an article on one page? Why do we always have to go to the next page to read more of the article? What a pain!
Jan 29, 2013 5:42AM
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Ya ... I saved for retirement.  Nothing fancy you know but enough to live comfortably.  While the recession certainly as an effect, since it hits are free economic system across the board, it is like the the tides, in that we all rise and fall at about the same rate.  It is manageable.  The unforeseeable in all of this, unfortunately, is our federal government.  They have to fix everything in their own vision, which none of us can plan for, except those who are able to buy a loophole from their congressman.  It does not matter when my government tells me it is for my own good and that of our society, it ends up costing more and money of my retirement dollars.
Jan 29, 2013 9:02AM
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You can plan for retirement to a certain point , then after that it becomes a crap - shoot . The best information in this article , and it's actually a no brainer , find a place where you can afford to live . Research areas , for taxes , cost of living, transportation , and most of all weather . As we age we become less mobile , and parts of the body start to go , so always keep in mind what you're probably going to be like in 5 or 10 years . Try to save some in retirement and live within your means . Good luck and God bless .
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Be careful what condominium,  An individual condo owner has very little control over the decisions of the condo association, when it decides to make repairs or improvements, such as a new roof. limitations on door and window replacements, and of course, the monthly maintenance fee.increases.  Then of course there is always the issue of the cranky neighbor.
Jan 29, 2013 9:21AM
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This was a waste of time.  What a lame list of basic living for seniors.  Ask for senior dicounts, choose an affordable living arrangement, and watch what you spend.   No foolen, I would have never thought of these suggestions, I needed to read it in some duma$$ article. 
Jan 29, 2013 8:10AM
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Bull, bull, bull, bull..... Uncle Sam loves people who spend their paychecks and must work for a living. They love it when you enter into that 401 K  for instance; How many people retiring this year could have paid 33% tax on their money but now have to pay 39%. Over the course of 20 - 30 years what has inflation done to money you thought you had. Ever worked overtime, how much of it did you actually see in your take home pay.? Now wonder how much you will have to pay on that lump sum that you think you're receiving.?

Jan 29, 2013 7:53AM
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Most of my charitable contributions (taxes) go to Obama's government 

Obama & Company will decide how to spend my money.

Jan 29, 2013 9:36AM
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I am retired and really getting good at cheap luxury travel.

1. The best is house swapping, house swaps often include a car and allow you to travel for the cost of the air line ticket. House swap.com is a great service

2. VRBO allows you to rent private homes/apt that are often cheaper bigger and have a great Kitchen compared to hotels

3. My wife and I always get a kitchen and cook some of our own meals    way cheaper than a restaurant

4. Fly in the offseason   you are retired its usually the best time to visit anyway.

5. Consider traveling with another couple renting a two bedroom house is often waaay cheaper that getting a hotel

6. Visit your other retired friends and let them visit you    Your high school class can be looked up via online services    always nice to spend a day or two catching up with an old friend that lives up the road

Jan 29, 2013 10:35AM
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Hmmm, the article never mentions the federal government, yet so many comments about the feds? Weird. I'm retired and I don't have much interaction at all with the feds. I do get SS, but I mainly live off investments and a company pension. I declined Medicare because I like my private insurance. We built a small house, large enough for our needs, thick walls and ceiling, spray foam insulation. With the metal roof, geothermal heating and cooling, solar panels, rainwater retention system, our little rural Texas home has no electric, gas, or water bills. The small size keeps property taxes low for what's really a luxurious home. Every day needs like groceries,recreation, doctor are within 15 minutes waking distance. Granted, I got so many residential energy tax credits from building the house that I haven't paid taxes in three years. Everybody has to plan their retirement their way, this article just says the obvious. Hey, try living a healthy lifestyle to avoid high medical cost!

Jan 29, 2013 9:14AM
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forget traveling  with the price of  gas  food  not a lot left over  for sight seeing  and the wages are not going  up the government has us where they  want  us  broke.
Jan 23, 2013 11:38PM
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< No. 6 > NEVER INVEST YOUR ASSETS (SAVINGS) WITH FISHER INVESTMENTS!

 

(PURIX), A Mutual Fund “Actively” Managed by FISHER INVESTMENTS (KEN FISHER, CEO and Principal Owner).  The Portfolios of FISHER INVESTMENTS “Private Client Group” Mirror This Data and Performance Returns!                       

 

DETAILS: 

Morningstar Rating

    **(2-Stars in 5-Star Rating System)

          (2-Stars=Poor, 5-Stars=Best)

 

Net Asset Value (NAV)

    

     20.02

Category

     World Stock  

Net Assets

     344.69 Mil

Yield

     1.31%

Morningstar RISK

     Above Average 

Morningstar RETURN

     Below Average

Expense Ratio

     1.36%, EXORBITANT in relation to POOR PERFORMANCE* 

     * (% annualized returns)

 

Last NAV update 1/23/2013 4:00 PM ET                                    

 

CUMULATIVE PERFORMANCE OF $10,000:

 

    2009     

    2010

    2011

    2012

    2013

Return

  36.18%

  14.74%

  -7.87%

   6.28%

   4.05%

Value ($)

13,618.00

15,625.29

14,395.58

15,299.62

15,919.25

 Year to date performance as of 1/23/2013 7:00 PM ET

                       

PERFORMANCE:

1 Month

   3.26%

3 Months

   5.03%

1 Year

   3.96%

3 Years*

   6.33%

5 Years*

   0.91%

* Annualized returns.  Performance as of 1/23/2013 7:00 PM ET           

             

PEER COMPARISON:

 

PURIX

World Stock

5-Yr Return

0.91%

   -0.76%

Sharpe Ratio

0.29

    0.46

Net Assets

344.69 M

   309.49 M

Avg Market Cap

109.95 B

   25.22 B

Avg P/E

15.76

   14.01

Portfolio Turnover

101

   55

 

The Morningstar Rating for mutual funds, commonly called the "star rating," brings both performance and risk together into one evaluation. Morningstar adjusts for risk by calculating a risk penalty for each fund based on "expected utility theory," a commonly used method of economic analysis. Although the math is complex, the basic concept is relatively straightforward.  It assumes that investors are more concerned about a possible poor outcome than an unexpectedly good outcome and that those investors are willing to give up a small portion of an investment’s expected return in exchange for greater certainty.  A "risk penalty" is subtracted from each fund’s total return, based on the variation in its month-to-month return during the rating period, with an emphasis on downward variation.  The greater the variation, the larger the penalty.  If two funds have the exact same return, the one with more variation in its return is given the larger risk penalty.

Jan 29, 2013 11:31AM
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I saved my money so I could pay all the medical, dental, and drugs that you need in old age, oh but wait a minute some people dont have to pay for it. So spend it today and let someone else pay for it tommorow. The new American way.
Jan 29, 2013 10:36AM
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The list is OK, far as it goes.  But they never ever mention the key part - YOU will have to live there for maybe a long time.  You better think about whether you LIKE the place you'll live in. And the key like is not the town, nor the building, but the inside of that place.

 

Presuming that you are able to or will be able to retire (and I feel greatly for all who really have little choice or ability to do so), the key thing to do is really THINK about it first.  There is NO one model for all.  But I'll offer you a clue: it will, unless you are extremely rich, be choices and alternatives and trade-offs.  I am retiring soon.  My wife and I have to make some BIG choices, as whatever we decide will hugely impact THE REST OF OUR LIVES.  We're in OK-to-good health, and have things we want to do, besides park in front of the tv. So... we could move to the Big City, where she came from (but I have zero use for the sirens, rude people, crowds, loud neighbors next door, or apartment living in general), or out into the country, where we always dreamed of having "a spread" (we love the idea of space, quiet, vistas - but know that would become way too much work soon...).  What we'll do is move to a small town and rebuild my dad's old house.  We'll get privacy, be close to good care and food, pretty peaceful, and, best of all, we'll have lots of control over our immediate surroundings into the future.)  Aside from doctors, services and food, your real considerations include: you WILL need more space than at first you believe (no, few of us actually will be happy for long constantly sitting on top of our spouse - having a little "his and her" space eases things, specially when you are old.), and... maybe bigger than most ever think of... you WILL end up spending more and more of your time INSIDE your abode. Fact of life.  So, I suggest that you do the best you can to make the space you'll spend your time in enjoyable for you.  Sitting inside a place you hate and staring out a window at a scene you hate will not be rewarding.  You may not have a lot of choice where you'll live, but take as much control of what you will live IN as you can.  You'll really appreciate this later on, when it's gray and rainy out, and you can no longer get out much!

 

Any place WILL cost - and you need to consider the value of your comfort and control of your surrounds against what you have to spend.  Us?  We would rather spend a little more of our nest-egg to have the (newly-rebuilt - thus pretty low maintenance for the next many years) house and control and comfort, and perhaps have to save and scrimp a little elsewhere, than MAYBE save a little but have to live with whatever neighbors and landlords and the surrounding scene you'll get - all of which can and will change more, and unpredictably, in the apartment/condo setting.

 

Just saying.

Jan 29, 2013 11:19AM
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never thought to ask for the senior discount at the movies - what do you save - .25? just go to the matinee movie that is already discounted and nobody is there so you have the theatre to yourself.  is anything on this list that we don't know? or is really useful?   ugh
Jan 29, 2013 11:13AM
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How the f***k can anyone live in retirement when Ben Bernanke continues to give us 0% interest income on anything we managed to save???????????
Jan 29, 2013 8:43AM
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North Carolina Shores are the place to retire. You can’t beat it. Housing is cheap; property taxes are low; golf, fishing, boating, beautiful natural beaches everywhere; the weather is better on average than Florida; and the people are the nicest you’ll find anywhere. Better hurry. Now that I’m here I’m taking up a petition to limit the number of additional people from New York and New Jersey we allow in.

Jan 29, 2013 12:27PM
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This looks like an advertisement for aarp.  I dropped them once and I'll never go back.  Liberal obamacare supporters.
Jan 29, 2013 1:27PM
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Simple.. I live on my Social Security and Bank my Pension..
Jan 29, 2013 8:30AM
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i sam 34 will be 35 next mont and i had a etirement plan that would have had me set..well the crap that happens to us along the lines really suck..i was saving my esop from a company i worked for for almost 10 yrs ..long story short i have had health issues and had to cash that out...what was 25,000 when i cashed it in and at my retirement age i would have had 140,000, and plus my 401k is gone and other stocks i had....im a single mother who was just approved for $1900  MONTH IN DISABILITY FOR THE NEXT 3 YRS TO BE REVIEWED..I am so scared about my future and retirement yrs , as it says ..when we enjoy what we worked so hard for....
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