Jen Smith, creator of ModernFrugality.com, joins The 411k to talk about what it means to live a frugal life in the modern world. Yes, being frugal can mean saving $5 at the grocery store by shopping sale item but this conversation centers around the big frugal moves like moving to a more affordable city, buying a more modest house on one income, saving an old kitchen table instead of buying a new one. Big frugal moves can save you hundreds or even thousands of dollars. You won’t want to miss this conversation on the benefits of a frugal life.
According to TransAmerica Center for Retirement Studies, less than 70% of U.S. women are investing money for retirement, compared to 81% of men. Of those who are investing, the median household retirement savings for women is just $23,000 compared to $76,000 among men. On average, women live longer than men and that means they must provide for more years in retirement than their male counterparts. In this episode, we focus on the basics of the most popular retirement options – 401ks and IRAs.