Use the 4 percent rule
Since many retirees need to live off a portion of their investment portfolio’s returns, the 4 percent rule should comes into play to make your money last. Your portfolio should last at least 30 years if you withdraw about 4 percent in the first year of retirement and then bump that amount up by a few percent per year for increases in the cost of living.

Save no more!
After you retire and stop earning employment income, one of the cash outflows that should go away is saving more money. “Some folks early in retirement continue to effectively save by not using all the money coming in,” says Tyson. “For example, from Social Security, pensions, and so on. They scrimp and save and do without when they don’t need to. If your retirement analysis shows that you don’t need to save anymore, then don’t. Use that income; after all, you’ve earned it!”

Consider supplementing your income with a reverse mortgage
If you own the same home during most of the decades of your adult life, you probably will have some decent equity accumulated in it. You may wish to tap that equity to supplement your retirement income. A reverse mortgage enables you to receive tax-free income through a loan on your home’s equity while still living in the home.

With reverse mortgages the lender pays you, and the accumulated loan balance and interest is paid off when your home is sold or you pass away. Here are the basic standards for eligibility:

*You, the homeowner, must be at least sixty-two years of age.
*You must use the home as your principal residence.
*You must have any outstanding debt against the home paid in full.

“Retirees we speak with who have taken a reverse mortgage generally say it has been a good experience for them,” says Tyson. “They often cite that the extra income allowed them to keep up a home’s maintenance, pay medical and other costs, avoid having to scrimp so much on things like eating out sometimes, and gain peace of mind not having to make house payments. However, reverse mortgages aren’t free of their downsides. The effective interest rate can easily jump into the double-digit realm if you stay only a few years into the loan. So as with any financial decision, do some research to determine if it is right for you.” (For more information on reverse mortgages, visit the AARP ebsite at aarp.org/revmort).

Consider inflation throughout your retirement
When calculating inflation, use three percent per year because this is what consumer price inflation in the U.S. has averaged over many years. So plan accordingly by considering your current spending and your spending in the years and decades ahead.

Prepare for increased healthcare expenses
Most people end up spending more on healthcare during retirement. The average American over the age of 65 spends about $7,000 per year, and costs rise faster than the overall rate of inflation. Even if you’re in good health, you’ll probably visit the doctor more and undergo more frequent routine and preventative testing. You should also expect an increase in how much you spend on prescription drugs and dental and vision care visits and procedures.

“Don’t be confused about what your former employer will cover in terms of healthcare and what Medicare will cover,” says Tyson. “The reality is that in retirement, you’re on your own for a great deal of your medical expenses and for long-term care. A reasonable estimate of your different health expenditures and how they’ll be paid or insured needs to be part of your retirement plan. Important factors to consider will be Medicare, Medicaid, and long-term care.”

Start saying no to the taxman
One fringe benefit of ceasing work and getting over the financial impact of losing that income is the associated and often dramatic reduction in income taxes—both federal and state—as well as FICA (Social Security and Medicare) taxes and possibly local taxes. However, even though you’re retired, some of your taxes may actually increase or stay the same. Keep close tabs on the following taxes:

Taxes on Social Security benefits
Pay close attention to the triggering of taxes on Social Security benefits if your income exceeds particular thresholds. If you’re working part-time in your retirement, you may want to consider contributing to a retirement account to reduce your taxable income.

Property taxes
Many communities offer some seniors the ability to postpone property tax payments and offer reduced tax rates for low-income seniors. To qualify, you typically have to present a copy of your completed IRS Form 1040 each year. Options offered usually include abatement (reduction), deferment, or freeze.

Reduce the amount you spend on housing
Many retirees are able to enjoy and benefit from the fact that they no longer have mortgage payments in retirement. There are many ways to manage and even reduce your housing expenses during retirement. You simply have to consider your options and choose which might work best for your circumstances. “Some retirees have attachments to their homes and don’t want to move, while others don’t mind downsizing or moving to a lower-cost area,” says Tyson. “Some would never consider taking on a tenant or opting for shared housing, while some, especially those who have been widowed, might find the social aspects of those situations appealing. Each person’s situation and preferences are unique, so we advise that you explore your options and select the choice that feels right for your situation money-wise and comfort-wise.”

Reduce utilities costs
Since changing the energy and communication sources you’re using in your home or car isn’t a simple matter of course for everyone, there are other options. Reduce your garbage bill by recycling more and creating a compost pile for biodegradable trash. Slim your water bill by installing water flow regulators in shower heads and faucets. Install a water purification system instead of buying bottled water. Bundle your television and Internet with your phone bill.

Carefully plan your food budget
Prepare more meals at home and eat out less. Buy grocery-store-brand products, whose quality and ingredients are often the same as higher-cost name brands at a much lower price. If you do eat out, go out for lunch when prices are cheaper, get the early bird special, or order take-out — all cheaper options than normal restaurant dining.

Consider getting rid of your car
Since you’re no longer working, you don’t have a commute and its associated expenses, including gasoline, maintenance, tolls, public transit fees, parking charges, etc. Your car should also last longer because you won’t be driving as much. You can also reduce the number of cars you own or you can get rid of your car and take public transportation, which eliminates auto insurance expenses. If you need a car for a weekend or other excursions, you can rent one for the day or by the hour for local driving.

Manage your personal care expenses wisely
Spending on clothes, shoes, jewelry, dry cleaning, and other amenities also take a tumble when folks retire from jobs, especially those who worked in more formal office settings. You also will likely spend less on haircuts and salon treatments. “It’s important to remember, though, that you shouldn’t skimp on taking care of your health and being physically active,” says Tyson. “Consider joining a health club or gym that’s user-friendly for folks of your age and interests. Of course, you don’t need a gym membership to be active. Walking, hiking, and other outdoor activities are low-cost and generally healthy. Just be careful about falls, which become increasingly common as we age. By staying active and healthy, you can help reduce your overall healthcare spending.”

Don’t be afraid to indulge responsibly
Being able to travel, relax, and have some fun is what retirement is all about. You’ve worked for decades and now is your chance to kick back a little. Don’t feel guilty about spending a bit more on travel and entertainment, especially during your early retirement years. As long as it is within your budget, you are good to go. “Most folks don’t travel much later in retirement due to reduced mobility and increased health issues,” says Tyson. “Keep that in mind in the earlier years of retirement and be sure to take advantage of your mobility and money while you’re able. During your retirement years, you can save money on entertainment and travel expenses in a couple of easy ways: travel during off-peak times or benefit from reduced senior prices.”

“Retirement spending will take some getting used to,” says Tyson. “You’ll be spending more in some areas while easily decreasing what you spend in others. But as with most aspects of retirement, with a little planning and the wherewithal to stick to your budget, you will be able to manage your expenses efficiently while enjoying the best parts of the retirement life.”

Choose a website that has multiple insurance companies
When you get a quote from a single insurance company, all you’re getting is that one insurance company’s idea of what you can pay. There is no competitive analysis that you can do with a single quote. Moreover, you could wind up getting inundated with emails and calls from that company to see you about that one policy. The way to win at online insurance shopping is to get multiple quotes, without having to give up your personal information.

Check financial ratings and strength
The recent financial crisis hit a great number of the major insurance companies, so don’t choose based on reputation alone. Check their financial strength ratings with consumer advocate sites as well as financial ratings companies like A.M. Best. Many of the ratings of reputable firms may have changed during the recession. Also, consumer advocacy sites rate firms based on customer service, which is a key component of buying insurance. Getting a good rate is important, but if the customer service lags, then what are you really paying for?

Be careful of rate quote “Bait and Switch”
Some companies will initially give you the best possible quote based on incomplete information, and by the time they walk you through all the nuances of the policy and your health history, you may wind up with a much higher bill than anticipated. If your quote does not take into account your height and weight and answers to basic health questions, then it’s possible that you’ve been baited with an artificially low rate.

Check for electronic signatures
You may shop online, but then be required to go to a local office to sign all the paperwork and complete your transaction. Some sites are shifting to accepting electronic signatures to complete their insurance transactions.

Family Changes
If you got married, divorced, had a child, had a kid start daycare, had a kid start college, or took in a relative, your tax preparer needs to know! Few things impact your taxes more than a change in your family.

Home Changes
In these unstable times, taxpayers’ housing situations change often. This can impact the deductions you are allowed to claim and could cost you thousands in credits if you forget to bring it up.

Job Changes
If you got a new job, lost a job, looked for a new job, or were on the receiving end of a pay cut, your tax preparer needs to know. Between deductions for job hunting expenses, paying for medical insurance out of pocket, reduced income, and new rules for unemployment benefits, you could save a ton of money on your taxes.

Major Purchases
Tell your tax preparer of any major purchases you’ve made this year. Any large purchase may impact your tax bill, so even if you don’t think it will matter, tell him anyway. Better safe than sorry.

Bankruptcy
Bankruptcy is becoming commonplace with today’s dismal economic climate. Each bankruptcy chapter filings require you to file your taxes differently, and have different rules for how deductions, credits and exemptions are claimed. If a bankruptcy filing is part of your financial future, you should seek out a tax preparer with extensive experience with bankruptcy.

Pick a Day to Shop
Pick one day a week to shop. This will help you make a comprehensive shopping list to plan your week’s meals and snacks carefully. By planning ahead, you will save time and money by not taking unnecessary shopping trips mid-week.

Compare Prices
Compare prices for your common items at a few nearby stores and cherry-pick the deals if necessary. Nelson finds the lowest prices on fresh produce and pantry basics at local discount stores and buys the rest of her week’s groceries at a typical supermarket using sales, loss leaders, “Buy one, get one free” offers and doubled coupons.

Find the Best Sales
Study the stores’ sales circulars and use online resources like CouponMom.com to find the best sales. The free service does the work of finding coupons and deals for shoppers by listing grocery bargains at 41 retailers in 50 states.

Stock Up
Stock up on your common items when they are at rock-bottom prices. By getting a few weeks’ supply of an item, you will have enough on hand until the next sale. Getting in the cycle of stocking up in this way will get you out of the cycle of paying full price for anything.

Maximize Your Coupon Inventory
Buy multiple copies of the Sunday newspaper during high coupon weeks, watch for coupon displays in the store, pay attention to your register receipt coupons, use electronic coupons at grocery store websites and even email the customer service contact at manufacturers’ websites to request coupons for their products.

Sign up for Loyalty Cards
Sign up for your stores’ loyalty cards and provide complete mailing and email information. You may be sent coupons for products you buy regularly.

The Coupon Mom’s Guide to Cutting Your Grocery Bills in Half is currently available in book stores.

Hybrid cars such as the 2009 Saturn Aura Hybrid, 2009 Nissan Altima Hybrid, and the 2009 Saturn VUE Hybrid are all expected to sell 17% or more off the sticker price. Family cars like the 2009 Nissan Quest, 2009 Ford Explorer, 2009 Cadillac Escalade, and 2009 Lincoln Navigator L are expected to sell more than 15% off sticker. If you’re into big cars, the 2009 HUMMER H3 is expected to sell at 28% off MSRP.

Here is a full list of expected savings compiled by TrueCar.com (Year/Make/Model; MSRP; % Discount off MSRP):

2009 Saab 9-7X
$43,390
31%

2009 HUMMER H3
$34,170
28%

2009 Mitsubishi Raider
$21,875
27%

2009 Suzuki SX4
$13,994
26%

2009 Pontiac G3
$15,055
26%

2009 Saab 9-5
$42,775
25%

2009 Nissan Titan
$26,950
25%

2009 Pontiac G5
$17,700
24%

2009 Suzuki XL7
$26,345
24%

2009 Cadillac XLR-V
$105,055
23%

2009 Suzuki Equator
$17,995
22%

2009 Cadillac XLR
$87,055
21%

2009 Suzuki Grand Vitara
$19,249
20%

2009 Pontiac G6
$22,940
20%

2009 Saturn Aura Hybrid
$27,045
20%

2009 Ford Explorer
$29,285
20%

2009 Chevrolet Silverado 2500HD
$27,590
20%

2009 Saturn Aura
$23,375
20%

2009 Hyundai Sonata
$19,420
19%

2009 Mitsubishi Galant
$21,969
19%

2009 Chevrolet Silverado 1500
$25,485
19%

2009 Chevrolet Cobalt
$15,710
18%

2009 Hyundai Elantra
$14,840
18%

2009 Pontiac Vibe
$16,735
18%

2009 Chevrolet Impala
$24,615
18%

2009 GMC Sierra 2500HD
$27,590
18%

2010 Ford Super Duty F-250
$26,275
18%

2009 Saturn Sky
$28,265
18%

2009 GMC Sierra 1500
$25,485
18%

2010 Mitsubishi Endeavor
$28,739
17%

2009 Hyundai Accent
$11,790
17%

2009 Pontiac Solstice
$24,945
17%

2009 Mitsubishi Lancer
$15,260
17%

2010 Mercury Grand Marquis
$30,285
17%

2009 Nissan Altima Hybrid
$27,370
17%

2010 Ford F-150
$26,180
17%

2009 Saturn VUE Hybrid
$28,905
17%

2009 Cadillac Escalade
$63,155
16%

2009 Chevrolet Express Cargo Van
$25,345
16%

2009 Pontiac Torrent
$25,515
16%

2009 Saturn Outlook
$31,400
16%

2010 Ford Focus
$17,570
16%

2009 Mitsubishi Eclipse
$26,669
16%

2009 Chevrolet Tahoe
$37,915
16%

2009 Pontiac G8
$29,000
16%

2009 Lincoln Navigator L
$57,045
16%

2009 Nissan Quest
$26,750
15%

2009 Cadillac DTS
$47,200
15%

2009 GMC Yukon XL
$42,175
15%

2009 Lincoln Navigator
$54,045
15%

2010 Nissan Armada
$38,010
15%

2010 Ford Edge
$27,695
15%

2010 Dodge Charger
$25,140
15%

2010 Chrysler 300-Series
$28,010
15%

2010 Dodge Avenger
$20,970
15%

2009 Chevrolet Suburban
$41,320
15%

2009 GMC Yukon
$38,655
15%

2009 Cadillac Escalade EXT
$62,080
15%

FUSN: The MasterCard Priceless Gift Finder is completely innovative, how does it work?
HM: It’s great if you have to buy for a child. My boy is seven, I know what he likes but I don’t know what a 16-year-old girl is into. You answer questions that describes their personality and it gives you potential gifts in your price range. They teamed up with Amazon.com so you can get real reviews from real people and decide if you want to get it or not. They also connect with your Facebook friends, so they know you’re on the site shopping for them. I’ve already done a ton of shopping on it and it’s come up with things I would never think of for people I normally just bring a bottle of wine to.

FUSN: Sound easy enough, but it’s also nice to shop at an actual physical location. Do you have any plans to go out to the mall to do any holiday shopping?
HM: If I go to the mall to buy for other people, I end up trying on clothes and buying stuff for myself, but if I’m doing the gift finder, I’m focused on buying for specific people.

FUSN: Without going into too much detail, because we don’t want to ruin the surprise for your loved ones, what have you gotten so far with the gift finder?
HM: I share an office with Guy, who is a regular on the show. For his birthdays and everything, I’ve always gotten him a bottle of wine. So I went on the gift finder, typed in his age and said he was a man, and picked connoisseur and home entertainer that described him. He just moved into a new place, so I clicked on connoisseur and there were these really cool glasses that I’ve never seen, so I turned my computer out and said “What do you think?” He said, “I love them!” so I ordered them for him. For my mother, it gave me a suggestion of a whole series of Hitchcock movies. My mother absolutely loves Hitchcock movies and it would have never occurred to me to get her something like that, she’ll be so excited. Same thing for the teenager, it gave me some unique Twilight options for my niece, otherwise I would have gotten her some pre-set lip gloss makeup thing, like I do every year.

FUSN: What are you getting Chelsea?
HM: She’s really hard to buy for because she has a stylist who gets her all her jewelry, shoes, clothes and purses. So that knocks that out, which is normally what I get for girlfriends. She just moved into a new place. In fact, maybe I’ll get her these glasses or dishes, they’re modern and her place is very modern.

FUSN: What have you gotten her in the past?
HM: I’ve gotten her a necklace which she’s never worn (laughing), and I did get her a pair of shoes last year, which she did wear on the show. Also, what’s great when you get something for someone’s home that fits their style is that they’re going to think of you every time they use it.

To use the the MasterCard Priceless Gift Finder, visit Priceless.com/GiftFinder. Watch the hilarious “not so perfect gift” video recommendations hosted by NFL Star Peyton Manning and actress Alyson Hannigan. For every purchase made with a valid MasterCard at Amazon.com via the Gift Finder, the buyer will receive $10 worth of MP3 downloads from Amazon.com. You can also choose to ship presents directly to the recipient or yourself.

Make a list
By planning ahead and organizing a list of needs, you will shop more efficiently and save time.

Create a budget
When shopping for many items, figure out your finances so you’ll keep to a smart financial plan and stop yourself from overspending.

Shop online
Retailers have more flexibility to reduce prices and offer last minute deals online than at stores. Shopping online makes it easy to compare prices and products and search for special promotions among competitors without having to run from store to store.

Keep checking for savings
For Black Friday/Cyber Monday, most offers will be available for one day only. However, there are sales or discounts that may be limited to several hours. Therefore, check throughout the day to find a deal. Using websites such as PromotionalCodes.com and CouponWinner.com will ensure you don’t miss out on a single offer and save you time. Users can also search by specific category like clothing, accessories, travel, electronics, sporting goods and much more.

Black Friday or Cyber Monday
Cyber Monday is known to offer great deals. If you miss an offer on Black Friday, rest assured that you may find an equally amazing offer or an even better deal on Cyber Monday.

Use coupons
If you are shopping online and skipping over the “promotional code” box featured on the checkout page, you are missing out on savings. Sites like PromotionalCodes.com and CouponWinner.com offer thousands of coupons and codes for over 8,000 stores on everything from clothing to electronics, computers, travel, home improvement and much more.

Stack coupons
Combine coupons for money off with free shipping codes to get the most of a purchase. Think of the savings you could get by adding a coupon to a sale or clearance item.

Stock up
Sometimes you need to buy more to save. This applies to holiday shopping as well. A certain coupon or offer may only apply to a certain purchase value. If it’s a great deal, consider buying another item from the same retailer for another gift in order to benefit from the savings reward.

Read the fine print
Check to see if there is an expiration date, minimum size order, or other exclusions on an offer that may affect your savings before you buy.

Send gifts directly to recipients
Avoid lugging gifts around town or on flights which may lead to a pricey fee for overweight bags. Order online, use a free shipping code, and ship directly to the recipient. You may choose to have the present gift-wrapped for a special holiday touch as well.

Understand the return/exchange policy
Many retailers may actually extend the return/exchange period through the holidays. Also, check to find out if the retailer offers cash back or only a credit to the store. You don’t want to give a gift to someone who may have trouble exchanging the item.

Order online and pick up at store
Many stores allow consumers to purchase items online and pick-up in-store, a great option for those who like the instant gratification of shopping. Otherwise, this may serve as a way to browse in-store sales but benefit from online coupons. See an item in a store, check your handheld internet and search for a promotional code first! If the store doesn’t allow in-store pick up that day, at least you will feel satisfied knowing you scored a better deal online.

Don’t just sell your gold, do it the right way! Brauser shares his tips on getting the most money for your precious metals.

Sell online
Since local jewelers/pawn brokers use subcontractors to sell their gold items to metal refineries, customers get paid less because the jeweler/pawn broker compensates for the fees associated with their own re-selling process. Online outlets cut out the middle man by working directly with the refinery, which allows them to pass the savings onto the customer.

Credibility through company affiliations
When searching for a trustworthy jewelry buyer online, pay close attention to what partnerships the jewelry buyer advertises on their website to ensure third-party approval. For example, Dollars4Gold is a member of the Better Business Bureau Online, the Jewelers Vigilance Committee, International Precious Metals Institute and is a certified licensee of the TRUSTe® Privacy Seal Program.

Identify shipping procedures
Any type of valuable, whether it’s your grandma’s silver flatware or your high school class ring, should be shipped safely and securely without cost for the customer. Be sure the jewelry buyers offer the following before sending your valuable precious metals items: a satisfaction guarantee; package shipments through a nationally recognized and trusted postal service like the United States Postal Service; a tracking number which helps track the shipment through the day it’s received by the refinery; and cost-free shipping and insurance.

Test your valuables before selling
Find out if it’s real by running a magnet over it. Pure gold, silver, platinum and most other precious metals are non-magnetic. Although gold and silver jewelry are sometimes mixed with other metals which are magnetic, usually the amount of other metal contained in the alloy is not sufficient to make your jewelry stick to a magnet. Before selling your items, spread them out on a paper towel and run a common refrigerator magnet over them. If your items stick to the magnet, chances are they are not real and you should not sell them.

So why is it that banks, investors and Americans are going broke, while others are making more money than ever? Find out with these tidbits from Rozema’s book on how you can capitalize on the economic housing crisis.

Invest, don’t speculate. Speculators buy property based on ‘gut’ or ‘rumors.’ Investors don’t care if their cousin’s brother says the property is a great deal in an ‘up and coming’ neighborhood. Investors run comparables and put money on facts, figures and fundamentals. “Investing is planning for the future, speculation is gambling with it.”

Don’t restrict yourself to your own backyard. Buying an investment property nearby may be helpful for the real estate newbie because you know your area, but to truly maximize your return you need to look nationwide. There are local markets that haven’t experienced over inflation, so they’re not likely to crash. There are areas of this country that have been growing at a consistent rate and will most likely continue to do so. “In stocks, you don’t want to invest in a company just because they are located in your ‘hometown’; you want to invest in the company that has the best chance to bring you financial success. The same is true for real estate.”

Craig Rozema is the Managing Member and national spokesperson for Craig Martin Investments. He has been firmly ensconced in the real estate world for over two decades, during which time he has developed subdivisions, built new homes and commercial properties and currently maintains a sizeable portfolio of income properties. You can visit his website CraigMartinInvestments.com for more information.

How to Save on Clothing:
Comparison Shop. Go to MySimon.com or Nextag.com to compare prices on brand names.
Find internet deals on such sites as Overstock.com to find codes that will give you free shipping, gifts, or percentages off.
Buy your favorite brands at the end of the season sale.
If you travel or live in a large city, visit the garment district to find tailors who specialize in custom-made clothing such as suits.
Shop mid-week at discount outlets such as Saks Outlet, Nordstrom Rack and Neiman Marcus Rack to get a better selection and better value.

How to Save on Transportation:
Used Cars
Do not buy a used car from a smoker. Cigarette smoke damages seals, glue and upholstery which devaluates a car.
Find the repair history on the car of interest by getting the vehicle ID number and log on to DMV.com
Gas Mileage
Get gas at the grocery store. Some chains will give you a nice discount when using a store card.
Remove unnecessary weight from the trunk.
Turn off the air conditioner and roll up the windows. You lose 4mpg by running the A.C. or keeping the windows open on the highway.

How to Save on Medications:
Ask your doctor for samples.
Ask your doctor if there is an over the counter equivalent to a prescribed drug.
Go generic. They’re FDA approved, and save both you and your insurance company money.
Get financial help on prescriptions at Pparx.org/about.php which links you to more than 475 assistance programs and 150 pharmaceutical company programs.
Use store coupons for prescriptions. Look in the sale ads for transferred or new prescriptions.