[Vermont Lt]

While this is possible, I don’t think this approach is advisable.

Everyone is free to chose their own path. But if you don’t even have a “plan” you might find yourself lost.

[Tell It Right]

Agreed. One thing I find interesting in the excerpt (the link didn't work for me to read the full article) is that there's no mention of the era of high interest rates in savings accounts.

I rather enjoy reading from people older than me about saving for retirement simply by being frugal and putting money aside into a savings account. A great example to live by, but it needs to be tweaked for the modern world of low interest savings accounts and save the money in an investment account. If you want to keep it simple, then put it in a S&P 500 index fund. Or with a hair more complexity use Paul Merriman's "two funds for life" model of half in a small-cap value fund and half in a S&P 500 index fund. I usually encourage 30+ equity mutual funds and each month investing into whichever one has the lowest balance that month (buy low). It takes a few Saturdays of research to wrap your mind around those types of investing styles. But once you do, it's easy breezy to implement like it's a regular "expense" in your budget.

[quilterdebbie]

I agree. My 401K did well with the mutual funds my company made available to me and on retirement I just rolled them over. I mixed things up among different types of funds and so far, so good! For my annual IRA contributions, I bought mutual funds recommended by my husband.

[Jolla]

While the title says no savings plan, putting your money into CDs at 4-5% is a plan.

[cgbg]

If you crunch the numbers it turns out that dollars you don’t spend on frivolous stuff adds up in a hurry.

That is often the difference between those who have a stressed retirement and those who have a comfortable one.

Different people have different views on what is frivolous of course.