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Retirement is a time in life most of us look forward to. The freedom to set your own schedule, travel, and pursue hobbies and passions is very appealing. But for most people, retirement means living on a more limited income. Finding ways to save money and stretch every dollar can help you live the retirement you’ve always dreamed of.
We have a few suggestions to help seniors make the most of their retirement income.
9 Strategies to Stretch Your Retirement Dollar
7. Cell phone provider: Eighty-five percent of older adults now own a cell phone. This is another area where spending a little time researching options based on your needs may save you money. MyRatePlan.com can help you find the cheapest possible provider based on your need for text messages, data, and cell phone minutes.
8. Water: Don’t waste money on soda and other pricy sports and energy drinks. Unless your doctor suggests otherwise, drinking water is best. Not only is it healthier, it can also be kinder on the budget. Add lemons, limes, and berries for an extra dash of flavor.
9. Senior discounts: Senior discounts can be another great way to save. Create a list of your favorite places to shop, eat, and play and call each to inquire about their discount programs. Some grocery stores offer 10 percent off on Tuesdays, which is often one of their slowest days of the week. AARP, The Senior List, and your local branch of AAA are a few good places to begin your research.
Moving to an independent living community is another great way to save money. You’ll be able to say goodbye to property taxes, as well as expenses for home maintenance and repair, lawn care, snow removal, and more. Services and amenities often included in your monthly fee range from utilities, housekeeping, meals, and transportation to wellness programs and life enrichment activities.
Call the Sunrise community nearest you to set up a time for a private tour to learn more!