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- 💰 The Deal Guy Newsletter - Issue #19
💰 The Deal Guy Newsletter - Issue #19
Matt Granite
September 30, 2024
This week, we talk retirement, even if you’re reading this in your 30’s, 40’s or 50’s! These lesser-known strategies can help you boost your savings and achieve financial independence sooner.
I also have exclusive Costco clearance deals and simple ways to save money at home by being more mindful of your daily routine!
What’s included this week:
📈 Easy ways to Maximize Savings Well Before You Retire!
(*This is not investment advice)
✅ Automate Investment Increases: Many people set up automatic contributions to their retirement accounts, but an often-missed opportunity is to automate increases.
Every year, set a small automatic percentage increase—say 1%—to your retirement contributions. Over time, these incremental boosts will significantly raise your total savings, without drastically affecting your day-to-day budget.
✅ Take Advantage of Health Savings Accounts (HSAs): HSAs are often overlooked as retirement savings tools. They offer triple tax benefits: contributions are tax-deductible, the money grows tax-free, and withdrawals for medical expenses are tax-free.
If you’re enrolled in a high-deductible health plan, maxing out your HSA and leaving the funds invested can create a nest egg specifically for healthcare expenses in retirement—or even non-healthcare expenses if withdrawn after age 65.
✅ Utilize A Roth Conversion Ladder: If you expect to be in a lower tax bracket during retirement, a Roth conversion ladder can help you transition your traditional IRA or 401(k) into a Roth IRA over time.
By gradually converting funds during lower-income years, you’ll pay less tax on the conversion and then enjoy tax-free withdrawals in retirement. This strategy requires careful planning, but it can help you maximize tax savings over the long term.
🔌 Energy Vampires to Unplug In Your Home
Many household appliances continue to draw power even when they're turned off, a phenomenon known as "phantom energy" or "vampire power." Here's a quick guide to the best energy-draining products to unplug when you're not using them.
❌ Streaming Boxes and DVRs: These are considered some of the worst offenders in your home! Are you really using your Apple TV or Roku all day long?
These devices are notorious for consuming a decent amount of power even when they’re turned off so unplugging them when possible is the way to go.
❌ Smart Tech: Devices like smart speakers, smart plugs, and hubs use power to remain on standby.
Image Credit: CNET
If you don't need them all the time or are away for an extended period, consider unplugging them or using a smart power strip to manage their usage.
❌ Computers and Everything Plugged Into It: While your computer may only draw a small amount of power when it’s docked, all of the items plugged into it are a whole different story!
Printers, external hard drives, and monitors—continue to use electricity even when powered down. Unplugging or using a power strip with an on/off switch can make it easy to cut off power to these devices entirely.
❌ Smartphone Cables and Chargers: Phone, laptop, and tablet chargers left plugged into outlets use small amounts of electricity around the clock - even when they're not connected to a device. Pulling them out when not in use can help reduce this waste.
📰 IN THE NEWS
Every week in this section of the newsletter, I share some of the most interesting and helpful money-related articles I’ve read over the past week. I hope you find these as valuable as I did!
💵 “These loans will become cheaper as the Fed cuts interest rates ” - READ HERE.
💵 “Older adults share what they took for granted when they were younger” - READ HERE.
💵 “5 cars to stay away from if you’re middle class” - READ HERE.
🤫 Completely FREE Streaming With Just a Library Card!
(THIS IS NOT SPONSORED)
Kanopy is a free streaming service where you can watch movies, documentaries, and educational videos with just a library card (from a participating library or university). If you are tired of over-paying for Netflix, Apple TV+ or some other service and you have a library card, this is a great solution!
Its library has over 30,000 films, offering a wide range of classic films, indie movies, and documentaries. There’s also a "Kanopy Kids" section with videos designed for children to learn and have fun, and my six year old has found some short films that she very much enjoyed.
You can access Kanopy by clicking here.
This portion of the newsletter is sponsored by ACTIVE
If Your Appliances are Dirty They Aren’t Cleaning Anything!
Let the viral ACTIVE cleaning tablets do the hard work for you!
ACTIVE cleaning tablets clean, descale, deodorize, and protect your investment!
These tablets Work! Just see the over 140,000 Five Star reviews on Amazon!
🎄6.5’ Pre-Lit Christmas Tree for $39 (EARLY HOLIDAY DEAL!)
🧁 BOGO Bundtlets @ Nothing Bundt Cake (CODE: FALLCAKE24 - ENDS 10/6)
🛁 70% OFF Vera Bradley Plush Bath Robes! (UNDER $25!)
🛞 $19 Tire Inflator! (68% OFF!)
🛫 3 Piece Hardside Luggage Sets ONLY $90 (Limited time!)
🍕 BONUS DEAL: 50% OFF All Menu Priced Pizza’s at Dominos (Ends 10/6)
**If you buy something through these links I may get a small share of the sale. Click here to learn more
👀 EXCLUSIVE COSTCO & SAMS CLUB CLEARANCE
As promised in my latest video, here are 10 NEW online-only Costco deals that you need to know about.
This 12-piece Swedish Dishcloth Set is down to $9.97
The Backrest and Reading Pillows are now down to $14.97
The super popular 24” Squishmellows are on clearance at $19.97. Alternatively the spooky 16” themed ones are also on sale at the same price.
It might sound odd to talk about pools with winter approaching, but this clearance price of $199.99 for a 13' x 30" Bestway Above Ground Pool could be a fantastic deal to snag now, and enjoy when Summer 2025 rolls around.
This Sherpa Fleece with Foot Pocket is something I don’t think was ever offered in person at the warehouse. It looks very comfy and is now down to $29.97.
And finally, if you are looking for a large monitor at an excellent price, this 35" LG Ultra-wide Monitor has a fantastic resolution and refresh rate for its $199.97 clearance price.
I also thought I would include a few online Sam’s Club Clearance finds as well. Let me know if you want to see more of these in the future.
This Members Mark Pizza Oven is $88 OFF and now down to $111.77
This Belt Bag aka Fanny Pack from the GAP Fit Brand is now $7.81 online. Just a heads up, I have seen this as low as $5 in some of my local stores.
If you’re looking for a giant throw this winter, Sam’s Club has a Member's Mark Brushed Plaid Throw reduced to $14.91. It is 60" x 70" in size and in some great colors.
Keep in mind, prices and availability of these items can change at any time! Not all stores have the same clearance items, so if you don’t find them at your usual location, try switching to another club nearby to check if the price is available there.
🚨 LATEST VIDEO
Thank you so much for taking the time to read this newsletter. If there are any topics you want me to prioritize for next week, please let me know!
Happy Savings!👋
The Deal Guy (Matt Granite)
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