Senior executives have to deal with a constant stream of what seem like urgent challenges. But it’s not always clear when they need to jump in.
You don’t need to live on beans and coupons in retirement.
If you follow this frugal retirement guide, you could easily save $1,200–$2,000 a month. That’s $15,000–$25,000 a year without feeling like you’re giving up the good stuff.
These aren’t extreme, live-in-the-dark tips. They’re small changes that free up cash for the things you actually want to spend on… travel, hobbies, family, or just sleeping better at night knowing the bills are covered.
Let’s break it down step-by-step so you can keep more in your pocket and still enjoy retirement.
Moving from a larger home to a smaller, more manageable space can be one of the biggest money-savers in retirement.
Let’s say you currently live in a 2,000 sq. ft. house:
Real-world example:
Downsizing from a $350,000 3-bedroom to a $200,000 condo could:
That’s money you can use for travel, healthcare, or simply making retirement less stressful.
You Will Love: In These 10 States, Your $1 Million for Retirement Goes Further—And the Southeast Tops the List
Groceries are one of the biggest monthly expenses in retirement and one of the easiest places to save money.
Let’s say you and your partner spend $600/month on groceries ($7,200/year). With a few frugal habits, you can cut that by 20–30%, putting $1,400–$2,200/year back in your pocket. Here’s how:
Example savings breakdown:
That’s $2,050/year saved without cutting a single meal.
Recurring bills are sneaky. You sign up once, and they quietly drain your account month after month. The good news? A quick audit can free up $1,300–$1,500/year (or more) without impacting your lifestyle.
Here’s where to look:
Example savings breakdown:
That’s additional $1,650/year saved.
Eating out feels convenient… until you do the math. Even “cheap” takeout adds up fast in retirement.
Let’s break it down:
If you and your partner eat out twice a week at $40 total per meal, that’s:
Cut that in half…
Just one restaurant meal per week and you save $2,080/year.
Go further? Make eating out a special once-a-month event:
Extra ways to save while cooking at home:
Example savings breakdown (per year):
Total annual savings potential: $3,300–$3,600 and that’s without touching your favorite “treat” nights out.
Senior discounts might only save a few dollars at a time… but over a year, they can quietly cover a vacation, pay a utility bill, or fund your holiday shopping. The trick is to always ask, because many places don’t advertise them.
Here’s what the savings can look like:
Example annual savings:
Total potential yearly savings: $795+ just for speaking up at the checkout counter.
Cutting back on driving isn’t just about fuel costs — every mile you skip saves money on insurance, maintenance, and the life of your car.
The American Automobile Association (AAA) estimates the true cost of driving (fuel, insurance, maintenance, depreciation) is about $0.65 per mile.
Let’s see how that plays out:
Practical ways to drive less in retirement:
Example annual savings if you cut back hard:
Net yearly savings: $3,300–$3,500+ and that’s before counting the value of selling an extra vehicle.
One of the biggest perks of retirement? You can travel whenever you want — and that’s a huge money advantage. Going in the “shoulder season” (right before or after peak) can easily cut your travel bill by 20–40% without sacrificing the experience.
Real-world example – Florida getaway for two:
That’s $910 saved on the exact same trip.
Other examples:
Bonus savings:
Estimated yearly savings:
If you take two major trips/year and save ~$800–$1,000 each time, that’s $1,600–$2,000/year.
Energy bills are one of those “silent” retirement expenses that creep up every year. The good news? A few small changes can save $200–$500/year without touching your comfort.
Quick, low-cost fixes:
Bigger upgrades with long-term payoff:
Example yearly savings for a typical household:
Total: $475/year saved before any utility rebates you might qualify for.
Retirement isn’t just about saving money, it’s about enjoying your time.
The trick? Swap some paid outings for free (or nearly free) activities and you can save $500–$1,000/year while still having a full social calendar.
Let’s do the math:
Example yearly savings:
Bonus: Free activities often lead to new friendships and local connections, which can make retirement richer in more ways than just financially.
Insurance is one of those “set it and forget it” expenses… and that’s exactly why many retirees overpay.
Rates creep up every year, but companies rarely call to tell you there’s a cheaper option. Reviewing your policies once a year can save $500–$1,000+ without reducing coverage.
Here’s where the savings hide:
Home insurance
Auto insurance
Supplemental health insurance / Medicare plans
Umbrella or specialty policies
Example annual savings breakdown:
Total potential savings: $1,025/year all from a couple of hours of comparison shopping or calling your current provider.
Echoes of 1999 and 2007 aren’t hard to hear, but what does that mean for investors?
In his 2023 letter to shareholders, Warren Buffett reminded Berkshire Hathaway investors that major market panics “won’t happen often — but they will happen.” They are a fact of life in markets ultimately made up of humans — humans prone to getting caught up in waves of “feverish activity” and “foolishness.”
And while this has always been the case, Buffett was particularly concerned with the level to which the modern market appeared “casino-like,” pointing out that “the casino now resides in many homes and daily tempts the occupants.”
Now, two years later, as the S&P 500 (^GSPC -0.29%) sets new record highs, the total margin debt in the U.S. stock market — a direct measure of how much risk investors are willing to take and an excellent proxy for investor sentiment — has surpassed the $1 trillion mark for the first time ever. In recent months it’s grown at a pace not seen since major “conflagrations” (as Buffett calls them) of the past like the the global financial crisis of 2007-2009. Investors are borrowing more to invest.
What does this mean for investors, and what can investors learn from Warren Buffett’s strategy to navigate a market downturn?
Deutsche Bank recently released an analysis of data from the Financial Industry Regulatory Authority (FINRA) — the brokerage industry’s self regulating body — showing that not only has margin debt reached historic levels, but the May/June period had the largest two-month increase since 2007, and before that, 1999 — not exactly a parallel that inspires confidence.
While the absolute size of margin debt is certainly something to pay attention to, there are reasons why it would be larger today than in the past. For one, the stock market is also setting historic highs, and thanks to inflation, $1 trillion isn’t what it used to be. And as Buffett was alluding to in his letter, through apps like Robinhood, it is easier than ever to access margin.
Image source: Getty Images.
What is much more concerning is the rate at which margin debt is growing. It is a very good proxy for how investors feel about the direction of the stock market. Confidence and optimism are good things, but there is a line at which this tips into euphoria, even mania. Investors begin feeling like their investments can only go up, like a gambler on a hot streak. Investors lose sight of business fundamentals and invest in riskier and riskier companies built on promises of future earnings.
If stocks begin to fall, a high level of margin in the market could create a feedback loop that significantly accelerates the decline. When you use margin, you are required to maintain a minimum “maintenance margin.” If you don’t maintain what’s required by your brokerage, a “margin call” is triggered, and you must either add money to your account or sell a portion of your position. If this happens to enough people at once, the liquidated stocks flood the market, further lowering stock prices, triggering more selling, and so on — a dangerous loop.
While this is important to understand in general, what’s more useful to look at is what margin debt — and specifically the rate of its growth or decline — tells us about investor sentiment. When it grows rapidly, like it is now, it is a direct reflection of how much risk investors are willing to take on and, therefore, how confident they are in the future. And while investor confidence is a good thing, overconfidence is not. That’s the stuff bubbles are made of.
The rapid rise in margin debt is undoubtedly an important market warning. It’s critical to remember, though, that it is just that: a warning. It’s not a guarantee that something will happen. And though history would seem to say what happens next is a crash, it’s entirely possible that one is not imminent. As the saying goes, history rhymes; it doesn’t repeat.
Today’s fundamentals appear stronger than in the past. Unlike 1999, when so many tech companies traded on pure speculation, today’s top firms have real, robust earnings. The inflation-adjusted price-to-earnings ratio (P/E) of the entire S&P 500 is lower than it was in 1999. And unlike 2007, when the banking system was significantly and directly exposed to the housing market, today’s broader system appears far less at risk if the stock market turns south.
Still, it’s not something that should be ignored. If a crash is coming — and let’s be honest, one will come at some point, that is the nature of markets — investors should be prepared. What investors should not do is try to time the market.
The best strategy is to continue to invest with a level head. Take these signals as an opportunity to step back from the euphoria and evaluate your holdings with fresh eyes. Are you chasing the latest “moonshot” or are you investing in solid businesses?
What history has to tell us here isn’t that a crash is definitely just around the corner, but about how to approach investing so that your portfolio not only survives a crash, but thrives on the other end. Picking good companies, sticking with them, and letting time work its magic will always beat FOMOing into the latest “sure thing” — it’s the core of Buffett’s philosophy. And like him, it’s also probably a good idea to keep some cash out of the market, to take advantage when things eventually go south and the stocks of great companies go on sale.
So remember, while the dot-com bubble did pop, some incredible companies survived the fallout and were stronger for it. Amazon shares cratered in 2000, but knowing what you do now, wouldn’t you be happy having loaded up on Amazon stock for $5.25 a share in 1999?
Nubank is deploying AI within its operations for efficiency gains and to expand its reach globally. The Brazil-based digital bank posted second-quarter earnings Aug.14, and shares of Nubank were up 9% at market close today to $13.11. The growing fintech has raised $4.2 billion in funding led by Berkshire Hathaway and Tencent, according to Crunchbase. […]
Update 8/15/25: A few new interesting offers:
Direct Link to ShopBack (this link contains my referral code)
ShopBack is a cashback portal and extension – click through the portal or the extension and earn cashback on purchases at hundreds of retailers.
Here a few interesting offers that I see right now; these offers will change over time. You should be able to see many of the current boosted deals at this link.
ShopBack has a nice signup bonus of $15 for new members who sign up using a referral link. The $15 will reflect immediately in your ShopBack. Within 180 days, the new member has to earn $5 in Confirmed Cashback. The $15 referral bonus will then become available if you’ve confirmed your Paypal withdrawal details.
There’s also a $30 bonus for the referrer. After signing up, you’ll be able to find your referral link on this page.
If you ever wanted to buy me a drink, here is my ShopBack referral link. Thanks. (You’ll see the referral bonus reflected when clicking through the link. You can also go directly to Shopback.com and enter referral code 9f41g1 during signup and you’ll see the $15 signup bonus reflected on the page.)
$5 Extension Bonus
They also typically have a special offer for new members to get $5 for adding the Shopback browser extension and using it once. These offers vary, but keep a lookup on your Quests.
$6 Shipping Bonus
New users typically also have an offer to get $5.98 in bonuses via two $2.99 shipping rebates if you shop through the Shopback browser extension. You have to apply the rebate at checkout and then the cashback shows up in your account afterward. Some report getting those shipping rebates even when there was no shipping cost. YMMV. New users should see this shipping rebate offer on their Quests page. It only works at select retailers (including Walmart, Best Buy, eBay, Petco, Temu, DoorDash, Newegg and more), and only when using the extension. Easyish $5.98 in bonuses.
You can also get various other bonuses on Shopback by going to the Quests tab at the top of the page, or use this link. Be sure to ‘Join’ the Quests and then afterward ‘claim’ the bonus. You might be doing some of these activities anyway and these are easy additional bonuses.
Here are some of the Quests bonuses, these bonuses will change over time; I’ll leave these here just as examples:
Note: Quests are sometimes shown only to selected users, and they also have a quota which runs out; it can run out until you ‘Claim’ it so do that as soon as you can. Click on each Quests offer separately to find additional details and terms of the offer.
ShopBack offers Paypal to cashout. $5 minimum required to cashout.
Older update history can be found at this link.
This looks to be an easy $15 with the initial signup referral bonus if you can get $5 in cashback earnings (e.g. five Amazon purchases or any other merchant). And hopefully you’ll get a few Quests bonuses or other increased offers which can spruce up your earnings further.
Other than the initial signup bonuses, the portal can be useful for the cashback earn on Amazon and for some of the other boosted cashback offers as well. Always compare rates against other shopping portals on Cashbackmonitor or another aggregator.
ShopBack has a Wikipedia page and has apparently been around since at least 2015. They seem to be an established company in other countries and are now expanding into the U.S. (We have no direct relationship with ShopBack.)
The Shopback platform has a sleek and professional feel. I also like that the terms are spelled out clearly for each retailer. Hopefully this will turn out to be another useful shopping portal/extension. Feel free to chime in below with your experiences.
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Key Points
A new rule from the Department of Education could reshape the Public Service Loan Forgiveness program (PSLF) by redefining which employers qualify.
The new rule, published today in the Federal Register (PDF File), would allow the Secretary of Education to block PSLF eligibility for organizations determined to have a “substantial illegal purpose.” The definition covers a wide range of activities, from providing medical care to transgender minors to allegedly violating immigration laws or engaging in (or even prohibiting to stop) certain protests.
The rule, slated to take effect July 1, 2026, would not strip existing PSLF participants of past qualifying payments. However, future payments would stop counting if an employer is disqualified under the new criteria.
Under the proposal, all 501(c)(3) nonprofits are typically eligible PSLF employers under federal law. The new language adds an additional standard, empowering the Secretary to disqualify an employer based on the preponderance of the evidence (ranging from court rulings to administrative findings) that it engages in a “substantial illegal purpose.”
The term “substantial illegal purpose” is defined to include:
Violations of state law are focused on protests, and include a final, non-default judgment by a State court of:
Employers would receive notice and an opportunity to respond, but the process for challenging a determination remains undefined. Borrowers impacted by the change of an employer’s status would have no appeal rights if their employer is disqualified.
One of the big concerns of the rule is scope. Even the final rule acknowledges “Employer qualification will be linked to the EIN used for reporting to the IRS so employees in one area or agency may be affected by the activities of employees in other organizations under the same EIN.“
They give the example of the County of Los Angeles, which “…has a single EIN covering various departments including the Los Angeles County Public Defender, Los Angeles County Department of Children and Family Services, Harbor-UCLA Medical Center, and the County of Los Angeles Fire Department.”
The concern is that if one group or agency is found to be disqualified under the new rules, all employees across the entire covered EIN would be disqualified – even if they have no connection to the disqualifying issue. In the Los Angeles example, finding that the UCLA medical center provides gender affirming care could disqualify a firefighter that has no connection to that issue.
Furthermore, the rule appears contrary to the existing rules that all 501(c)(3) organizations are eligible for PSLF unless their nonprofit status is revoked through existing IRS processes. The existing law clearly says “An organization under section 501(c)(3) of the Internal Revenue Code of 1986 that is exempt from taxation under section 501(a) of the Internal Revenue Code;“.
As such, it’s likely going to be subject to legal challenges for both exceeding the scope of the rulemaking process and for other potential violations of civil rights and higher education laws.
The proposed rule is not yet in effect. The Department of Education will take public comments for 30 days starting Monday, August 18, 2025. After it reviews the comments, the Department of Education will likely release the final rule by October 31, 2025, so that it can take effect on July 1, 2026 as planned. That’s also assuming that it doesn’t get blocked by legal challenges along the way.
Borrowers working for potentially affected employers are encouraged to:
With more than one million borrowers benefiting from PSLF to date, the PSLF program is working. But these changes work to serve as a chilling effect for certain employers and groups that may or may not align with a political party’s interests.
More Stories:
Editor: Colin Graves
The post Final PSLF Eligibility Restrictions Move Forward For Comment appeared first on The College Investor.
Opinions expressed by Entrepreneur contributors are their own.
In private equity, the smartest general partners (GPs) are realizing that co-investments aren’t just a fundraising sweetener; they’re a strategic lever. Done right, they strengthen the portfolio, deepen LP relationships and reduce overall risk exposure. Yet many GPs still treat co-investing as an afterthought rather than a core element of fund strategy.
In today’s climate, where LPs are more selective, underwriting standards are higher and trust is harder to earn, co-investments can be the edge that separates high-performing GPs from the pack. Here’s how the most sophisticated firms are using co-investing not just to raise capital, but to build resilient portfolios and tighter LP alignment.
Related: The Collaboration Between Limited Partners and Growth Partners: Investors’ Perspective
The co-investment market has matured rapidly over the past decade. According to Preqin’s Global Private Equity Report, nearly 70% of LPs now expect co-investment opportunities from their fund managers. This demand is no longer limited to mega-institutional family offices. Sovereign wealth funds and even smaller foundations are seeking ways to increase exposure to direct deals while lowering blended fee structures.
Meanwhile, a 2023 report from PitchBook emphasized that co-investment volume is rising even in volatile markets, fueled by LPs looking for more control, lower fees and deeper access to quality deals.
For GPs, this presents both a challenge and an opportunity. The challenge: Co-investments can strain internal resources and slow deal execution if not managed well. The opportunity: When built into the fund’s operations and strategy from day one, co-investments enhance portfolio flexibility, attract strategic LPs and reduce concentration risk, all without diluting fund governance.
Smart GPs treat co-investment capacity as part of their capital stack, not a separate, ad hoc offering. This mindset allows them to:
Let’s say your $100M fund is targeting 10 core platform deals of $10M each. You come across a $25M acquisition that fits the thesis but exceeds your single-asset exposure cap. With co-investment capital lined up, you can still lead the deal, funding $10M from the fund and $15M from co-investors. This approach maintains portfolio balance while giving LPs direct access to a larger asset.
More importantly, it builds your reputation as a GP who brings access, not just capital.
For a case study of this dynamic in action, this piece from Hamilton Lane illustrates how co-investments have become an essential tool in modern private market strategy.
Related: The Risks And Rewards Of Direct Investment For LPs
One underappreciated benefit of co-investing is how it allows GPs to retain control of high-conviction assets without overexposing the core fund. In many cases, the most attractive deals are also the most capital-intensive. Without co-investment partners, a GP must choose between taking a smaller slice or over-allocating from the fund.
By bringing in co-investors, GPs can secure majority or lead positions while staying within prudent limits. This improves control over governance, exit timing and value creation plans, all critical levers in reducing downside risk.
Additionally, co-investing can be a powerful tool in navigating market cycles. During downturns, GPs can selectively syndicate capital-heavy deals to preserve dry powder, while still deploying into discounted opportunities. The BVCA’s 2023 Private Equity Guide offers insights into how firms are adjusting their co-investment behavior during a recession.
Of course, offering co-investments isn’t just about having the deal flow. The GPs who excel at this have built internal systems to handle:
This operational backbone is often the difference between firms that “can” offer co-investments and those that do so consistently, cleanly and at scale.
For GPs looking to mature their fund ops, platforms like Carta and Juniper Square simplify co-investment administration, LP communications and investor onboarding.
More advanced GPs are also using tools like Passthrough to streamline subscription documents or Anduin for automated investor workflows.
From an LP point of view, we see co-investing as a way to display confidence and alignment. It gives them more say, more return and often a larger role at the table. When done fairly, it turns your investors into what they are — full partners. In a world that is becoming more relationship-based in terms of fundraising, GPs who put in consistent, thoughtful co-investments are at an advantage.
According to HarbourVest’s 2023 LP Survey, nearly 80% of LPs reported higher satisfaction and trust in managers who offered co-investment access, especially when the deals performed well and were communicated transparently.
Related: Why Direct Investments By LPs Are On the Rise
With all its advantages, co-investing is not a silver bullet. When used excessively or poorly, it may bring execution risk, create inefficiencies and bring LPs into conflict. The most common shortcomings are:
Providing too much in co-investments, devaluing their quality
Granting favors with allocations
Procrastinating closings from side deal logistics
Failing to coordinate internal bandwidth to handle the complexity
The best firms are selective. They set expectations with LPs early, often in the PPM or DDQ, and focus on quality over quantity. One excellent co-investment that delivers a win can be more powerful than five rushed ones that don’t perform.
Co-investments are no longer optional; they’re a defining feature of modern private equity. But the edge doesn’t come from offering them. It comes from integrating them into your portfolio construction, risk management and LP strategy.
The smartest GPs know this. They use co-investing not just to fill out a cap table, but to build durable LP relationships, de-risk big bets and unlock operational agility. As fundraising becomes more competitive and LPs demand more from their managers, those who treat co-investing as a core fund ops capability, not a last-minute offer, will stand out.
In private equity, the smartest general partners (GPs) are realizing that co-investments aren’t just a fundraising sweetener; they’re a strategic lever. Done right, they strengthen the portfolio, deepen LP relationships and reduce overall risk exposure. Yet many GPs still treat co-investing as an afterthought rather than a core element of fund strategy.
In today’s climate, where LPs are more selective, underwriting standards are higher and trust is harder to earn, co-investments can be the edge that separates high-performing GPs from the pack. Here’s how the most sophisticated firms are using co-investing not just to raise capital, but to build resilient portfolios and tighter LP alignment.
Related: The Collaboration Between Limited Partners and Growth Partners: Investors’ Perspective
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While higher taxes on the rich have long prompted warnings of a “millionaire exodus,” academic research suggests most high earners remain in place, anchored by careers, businesses, or family ties. Still, the very top tier of wealth—particularly mobile billionaires or owners of seasonal estates—may be more responsive to targeted levies.
Massachusetts’ experience illustrates the complexity. Voters approved a 4 percent surtax on annual incomes above $1 million in 2022, which has generated nearly $3 billion in the latest fiscal year, exceeding projections. Yet it is too early to know whether the state’s millionaire headcount is shrinking or whether strong markets, like Boston’s biotech sector, will outweigh any tax deterrent.
Other states are experimenting with different approaches. Rhode Island has enacted a “Taylor Swift tax” on vacation homes worth $1 million or more, set to take effect next summer. Connecticut legislators have floated higher income tax rates for top earners, while Washington has increased its capital gains tax. Maryland has approved steeper rates for residents earning over $500,000 a year. And in New York City, a leading mayoral candidate has proposed an additional levy on incomes over $1 million.
An analysis of the potential real estate consequences across these states suggests uneven outcomes:
Based on scope of tax change, exposure of vacation homes, dependency on ultra-luxury buyers, and wealth mobility sensitivity, the states rank as follows for vulnerability in high-end property markets:
Stablecoins are the talk of Wall Street thanks to a wave of recent favorable crypto regulatory activity, especially the landmark bill GENIUS Act, which became law after President Donald Trump signed it in July. These events come after years of concerted lobbying by the crypto industry to get recognition in Washington, D.C., as a legitimate […]
