How to Retire the Cheapskate Way Review

Title: How to Retire the CheapSkate Way
Author: Jeff Yeager
Publisher:  Crown Business
Publication Date: January 1, 2013
Genre: Business & Money
Price: $8.72
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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.

4 thoughts on “How to Retire the Cheapskate Way Review”

  1. Great post! As big fans of Dave Ramsey’s, my wife and I are always looking for ways to save money and stay well within our budget. We are the ultimate cheapskates (except when it comes to giving – that’s very important to us), and we couldn’t be happier! Living well within your means helps to keep one from always wanting more, and that is a want that has been known to leave many unhappy. I’ve GOT to check out this book!

    1. Thank you for your comment Steve. This is the problem with our current financial times and it all deals with the living expenses, which, not looked at carefully, will make it hard to live within the means. One has to see what the true needs are and reduce the amount of wants. It is possible to live below your means and it does not require making huge salaries. It is the discipline and creativeness to getting by in life which could be done through hobbies, community involvement, DIY projects. The book does a good job of showing examples and real-life experiences of families living frugally. You have even mentioned about living within your means and finding ways to save even more. I do hope this book will give you the answers that you are looking for.

  2. I have been searching for books on how to retire early, and this one hit the spot. I love the title, and not that I am a cheap skate, I understand the idea. I love hearing or reading about people who live frugally, and I like to see how I can apply their principles to my life. It’s always great to get ideas from other people, it makes you think. This book is very affordable, and I am going to order a copy of it. Thank you for sharing your review, I think this book is going to help a lot of people out.

    1. Hello Steve,

      You are very welcome with regards to the review. I want to spread the word out as I own the book and have read it twice now. I also want to help out those that want to retire early or who are approaching retirement to know the possibilities of living below your means and being happy throughout the daily life. I know that when I read the book it made me think of my spending habits and what I can do through my hobbies. I am part of a community association in my neighbourhood and if I can help out and utilize my skills, I will do so in the best interest of the community.

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