Boomers Should Never Spend Full Price on These 10 Things in Retirement
Written by
Marc Guberti
Edited by
Zuri Anderson
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Saving money is beneficial for anyone, but it’s an even bigger deal for retired boomers who want to preserve their nest eggs.
Not only can they find ways to reduce spending, but many companies also offer senior citizen discounts to this group. If you’re looking to cut costs, start with these 10 common purchases.
Cable TV Bundles
Review your cable TV bundles to see which ones you still need or if you can find better deals. You can also negotiate with your current provider. Some seniors bundle services to save money, while others downgrade their cable TV plan.
Cell Phone Plans
Many cell phone carriers have senior discounts available, with some of those savings taking place when you turn 55. It varies for each carrier, but you can also review your plan to see if a downgrade to save money is doable.
Gym Memberships
While anyone can get rid of a gym membership that they no longer use, seniors can capitalize on Medicare Advantage to cover gym memberships. This perk is only for Medicare Advantage, and you have to see if your specific plan offers a free gym membership for one of your local venues.
Airline Tickets
Some airliners offer senior citizen discounts, but you typically have to call them directly to save money. You can also save money by booking flights on less busy days of the week and away from busy seasons. Retirees don’t have to adhere to a traditional schedule and only travel when school is out of session.
Hotels
Retirees can take the same approach with hotels and avoid the weekends and busy months to save extra money. Most places offer the most savings if you book a visit after Labor Day or before Memorial Day. Some hotel chains offer senior citizen discounts, as well.
Cars
You might get a discount, but the bigger savings come from choosing a reasonable car. A used car will save you the most money, but even if you prefer to buy a new car, look for affordable options. While car prices have surged in recent years, you can still save money if you buy a $30,000 model instead of a $60,000 model.
Clothing
Thrift shopping is one of the best ways to save on clothing, but you can also shop at discount retailers. Some of those same businesses offer senior citizen discounts. Combine thrift shopping with durable clothing that lasts for a while, and you can keep your costs low.
Electronics
Smartphones, computers and TVs are some of the most common electronics you’ll find in people’s homes, and it turns out you can save a lot of money on these products. Some stores may offer senior citizen discounts, but most of the savings come from buying older models that still perform at a high level.
Museums
Many museums offer senior citizen discounts and let you explore history. It’s a great way to get out from time to time while keeping costs low.
Movie Tickets
Some movie theaters offer discounts for retirees, but only go to the movie if there’s something worth watching. You can capitalize on movie ticket discounts when going with your family, so you all get to enjoy the experience together.
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