Retirement is a reality and one which will come soon enough for many people. If worrying about how household finances will hold up then, Enterprises TV offers some ideas which may help retirees save money.
Pay off the mortgage on the family home as soon as possible. This is one of the biggest expenses many retirees have, and once eliminated, frees money for other things.
Sell the larger home and find a small one. Look for a more manageable home in an area which costs less overall. Once the kids are grown and on their own, it’s time to downsize living space.
Reduce tax bills and investment fees. Space out withdraws on IRAs to avoid the huge fees one withdraw can cost. Select the lowest-cost funds in retirement that meet investment needs. The Enterprises TV show also recommends paying attention to the bills financial advisors send. Keep finding ways to reduce those expenses.
Travel at off-peak times such as when summer vacation is over. Also, avoid flying at holiday times. Use all travel rewards and shop the travel comparison sites for the best fares.
Save more money using every senior discount plan available. AARP has one as does USAA. Many local, state and national tourism spots also offer senior discounts. Save money in retirement with these tips.