Four Retirement Tips for Frugal Folks

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  1. Shed some wheels. If you're a two-person home, do you really need eight wheels? Try living without one of your cars. Renting a car when you have an occasional vehicle conflict is less costly than paying double for insurance, maintenance and gasoline.

  2. Comparison shop. Pharmacies often charge different prices for the same medicine. See which offers the best price. If you're taking a long-term drug, consider mail-order pharmacies, which often charge lower prices—and save you gas money on trips to the drugstore.

  3. Split the cost of movie night. Go in with a neighbor or friend on the cost of a mail-order movie club. One of you views the DVD first and then passes it on to the other. Now you have change to spend on hot, buttered popcorn.

  4. Make cash-free gifts to charity. A gift in your will or living trust of a percentage of your estate helps us continue our mission well into the future. Or you could name us as the beneficiary of your retirement plan assets. When given to a tax-exempt charitable organization such as Gustavus Adolphus College, we can receive your gift free of income and estate taxes. Contact Jackie Peterson at 507-933-7543 or jpeters9@gustavus.edu to learn more.
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A gift of your retirement plan assets is one of the most tax-savvy ways to make a difference. Learn more in our free guide.