5 Things Boomers Should Always Replace in Retirement — Even If It’s Begrudgingly
Written by
Kerra Bolton
Edited by
Jenna Klaverweiden
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Many retirees take pride in stretching every dollar, which often means holding on to familiar things for far too long.
From well-worn cars to outdated insurance policies, refusing to replace certain essentials can quietly put health, safety and savings at risk. Here are five things boomers should replace in retirement — even if it’s begrudgingly.
1. Outdated Life Insurance Policies
Many retirees continue to pay premiums for life insurance policies long after they’ve stopped serving a real purpose.
It can feel wasteful to let go of something they’ve had for decades. However, old policies without long-term care coverage can leave a major gap at the exact time it’s most needed.
“A retiree who is still healthy can often get a hybrid life and long-term care insurance policy that has the same death benefit but also offers long-term care built into the policy or through a rider to the new policy,” said Evan Farr, a certified elder law attorney with Farr Law Firm and an insurance agency owner.
Trading in a long-held policy for one that combines life insurance with long-term care may feel uncomfortable, but it can protect both savings and future independence.
2. Traditional Bathtubs and Showers
It can be hard for retirees to give up the bathroom setup they’ve relied on for years, especially when renovations sound messy and expensive.
“Walk-in tubs and showers prevent potential falls and aid with mobility challenges,” said Mike Peck, vice president of installation at Leaf Home and an aging-in-place expert. “As people age, many are no longer able to get in and out of a shower or tub safely, especially without the support of a grab bar or handle.”
Upgrading to a walk-in tub or shower may not be glamorous, but it’s a change that pays back every day in safety and peace of mind.
“Expect to pay $5,000-$8,000 and a two-day install,” said Yehuda Tropper, CEO of Beca Life Settlements. “Done once, it lasts for decades. One bad fall can completely upend your life health wise and erase a six-figure nest egg.”
3. Home Security Systems
Many retirees hang on to the same alarm system they installed years ago, trusting it will keep working forever. The truth is, outdated equipment can fail when it matters most.
“The problem with older security systems is that they often can’t receive essential software or firmware updates, which leaves them vulnerable to hacking, technical failures or an inability to alert emergency response services,” said Hooman Shahidi, chief product officer at SimpliSafe, a home security company. “Many older home security systems are wired and have permanently affixed alarms and sensors, making them cumbersome to move or modify.”
Letting go of an old, “good enough” security system can feel unnecessary, but replacing it means stronger security at home and peace of mind while traveling in retirement.
4. Gas-Powered Lawn Tools
There’s pride in keeping a mower or trimmer running for decades. However, heavy, gas-powered tools can become harder to use safely with age. Hanging on to them too long risks injury and exhaustion.
“Heavy gas-powered tools like mowers, weed eaters and chainsaws can become increasingly difficult to handle with age,” said Tyler Meyer, a certified financial planner and founder of Retire to Abundance. “Replacing them with lightweight electric or battery-powered versions often costs $200-$600 per tool but makes yardwork safer and more sustainable.”
Switching to lightweight, battery-powered tools may sting at first, but it can help retirees enjoy their yards longer without the strain.
5. Beloved Cars Without Safety Features
For many retirees, their car isn’t just transportation; it’s a trusted companion full of memories. However, beloved older models often lack lifesaving protections, like backup cameras, stability control and blind-spot monitoring.
For example, AAA stated that features like automatic emergency braking significantly reduce crash risk, yet millions of older cars still on the road don’t have them.
Giving up a favorite car can be one of the hardest changes in retirement, but a newer model can mean safer roads and fewer worries for everyone.
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