5 ways to reduce spending during retirement
Most of us have a vision of what the road ahead looks like. It may include traveling or spending time with your grandchildren. However, what we envision as our retirement may not always be what we actually do once the time comes.
The reality of retirement
Researchers looked at the top 20 activities of retirees age 50 and older with at least $60,000 in household income. The findings showed that those no longer working spend a great deal of time on activities that are inexpensive – like watching TV, reading (Medicare information, financial paperwork, etc.), doing yard work, cleaning and fixing meals – none of which require a lot of money.
Viewing movies, taking care of the yard and cleaning may not be what you had in mind for your next life adventure, but in reality, spending time on activities that won’t deplete your nest egg is important. You will be able to preserve your savings much longer.
Five ways to reduce your spending during retirement.
You don’t have to live the high life once you stop working full-time. Consider these tips to help extend your retirement fund:
- Use coupons. Maximize your money by clipping coupons. However, make sure to only use coupons to purchase items that you typically buy. Otherwise, you can end up spending more buying items you don’t need.