Some people who’ve envisioned retirement to be a welcome reward for years of hard work instead feel overwhelmed and anxious when they think about financing such a long-term vacation. And those feelings aren’t totally misguided.
Most Americans feel they don’t have enough money saved to maintain their lifestyle once they retire, and going from a comfortable salary to a fixed income is worrisome. Luckily, when it comes to retirement coin, there are two sides we must consider. Yes, your available income might decrease during retirement, but your ability to live frugally also gets much easier.
Retirees are privy to many discounts and savings that younger workhorses are not. So, in addition to a refreshing decline in work-related responsibilities, something more awaits new retirees, including discounted expenses. Here are 15 things that get a lot cheaper once you retire.
1. Dine at your favorite spots — for less
Savings: 10-25% off meals plus a free drink or appetizer
Have no shame in your game when it comes to discounts on dinners out of your home. Most places offer early-bird specials and senior discounts that can seriously lessen your food bill. Suddenly, it won’t seem as difficult to make a 5 p.m. dinner reservation when there’s no project deadline looming.
You might even find cooking at home becomes more enjoyable with extra time, so it’s likely you’ll spend less on takeout and delivery services, too.