Frugalisto of The Year: Retirement Edition | The Frugalista

Frugalisto of The Year: Retirement Edition

by frugalista on January 19, 2011

OMG! I got this bankrate.com article sent to me by Product Junkie Diva, one of my favorite beauty bloggers.   Leonard McCracken, age 107, has been retired since the ’60s and lives off social security, savings and a lifetime annuity.  He’s never made more than $10,000 a year, and he’s living just fine.  This week is  Bring Back Thrift Week. I think this man should be our role model!

Here are a few of his saving tricks noted in the article:

1) He only bought two new cars in his lifetime. He regularly bought used cars (which is good for the environment,too).

2) He kept his debt managed. After working in a bank during the Depression, he saw people in dire financial straights and learned from it.  If he got into debt, he made sure to pay it off as soon as possible. (I know this Great Recession has impacted me for life. The softening economy pushed me to get out of debt.)

3) He ‘s a work horse. After losing a job, he worked menial jobs to help his family survive. ( I am a big fan of this one. After getting laid off, some people don’t want to work jobs that they consider beneath their talents. Sometimes, you just need to have SOME cash coming in.)

So what do you think about McCracken’s lifestyle?  I say he’s a smart man!  Are you prepared for retirement? How do you save for your future? Is he single? He’s a catch, no?


Post406, Flickr

P.S. Yes, I want to retire wherever this photo was shot!

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