|Title: How to Retire the CheapSkate Way
Author: Jeff Yeager
Publisher: Crown Business
Publication Date: January 1, 2013
Genre: Business & Money
Sold By: Amazon.com
When I read news online or watch TV, I always hear of society on average are not ready for retirement whether it is regarding not enough money saved, not enough money contributed to registered retirement savings or pensions, being in debt or still paying their mortgage.
When reading How to Retire the Cheapskate Way by Jeff Yeager, it opened my eyes on how to think about money and just thinking frugal. Living life does not have to be complicated and this book shows many ways on living below your means.
Jeff Yeager explains and provides tips very simply but to make the reading interesting he adds a bit of humor. What I like about his style is that he does not get into investments, making it rich and trusting too much on financial advisors but to focus on spending less and cutting back on unneeded items and downsizing when it comes to a home or owning multiple vehicles. This book can be read by anyone who is starting their live or even approaching retirement using common sense approach and even being a little thrifty.
There are interviews shared with cheapskates that are making it in life and their stories on how they ending up retiring and living below their level of income. These are couples or singles in their early 40’s to 60+. Why buy certain things when you can save your money and do-it yourself, save on car maintenance and do an oil change yourself. Jeff provides examples of DIY methods which can be done realistically. Thank goodness there is YouTube where you can be guided step-by-step in doing things such as oil changing, gardening, sewing and a plethora of tasks which when watching it carefully is not as hard as it sounds.
There is a term which I found interesting called ‘selfish employment’ where it talks about turning your hobbies and earning income through them in the retirement years. The author is honest when it comes to one being in debt, they are not ready for retirement and that has to be taken care of through a myriad list of helpful pointers from his personal experience as well as from his group of “miser advisors”.
What I did find by reading the book is that there are too many repetitive sources via websites or other books and I would have to skim over them. For those that are looking to really cut down on spending and stretching your income to live off a a low income practically during retirement, this is good to have book.