You must be frugal and exercise thrift to prepare for
retirement. The best way to save money on retirement is to reduce your
expenses. The last thing you want when you retire is to have to increasing
rent payments. Work toward home ownership. Pay extra principal on your
mortgage payment each month. Ideally you should pay off your mortgage before you
retire. If you can't do that, at least have a fixed payment.
Do not take on debt. Learn to live within your means.
Do not buy a house that is expense to maintain. Learn habits of thrift and
frugality that you can use when you need them the most.
some additional frugal tips to help with money
- Keep as healthy as possible.
Medical costs can escalate as we get older.
- Get anticipated dental work
done while you still have insurance.
- Learn to be as frugal as
possible before you retire, and you won't find living on a smaller income as