Here are ten ways we save money in retirement, without adversely affecting our lifestyle:
1. Clothes. You will no longer need expensive business suits, or uniforms that you have to pay for yourself.
2. Commuting costs. We no longer have to buy a commutation ticket for the train, or pay bus fare or parking fees.
3. Lose a car. If you're no longer commuting, maybe you can sell off one of your two or three cars, because you don't really need it anymore.
4. Less insurance. If you get rid of a car, you're not paying insurance on it. Maybe there are also other insurance policies you don't need. (Adopted From money.usnews.com)
5. Move. You're no longer tethered to your place of work. So you may have the option to sell your house and move to a less expensive area.
6. No more kids. You spend a lot less after your kids have finished school and moved out on their own, an event that often coincides with retirement. You won't believe how much you'll save on your grocery bill.
7. Travel. You can always spend boat loads of money if you go first class to all the hot spots. But the beauty of retirement is that you can travel mid-week, air fares are cheaper, or go during the shoulder season, when rates are lower. Your flexibility means you can take advantage of a website, such as Cyberrentals. And, you can always go visit the kids!
8. Entertainment. Don't be embarrassed to use a senior discount at the movies, a state park or the America the Beautiful senior pass. Many state and local governments also offer discounts to senior homeowners. Take advantage of the flexibility you enjoy by not having to be at the office from 9 to 5 every day. Go out to lunch, instead of dinner. You often get the same food at a much lower cost. Play golf weekday afternoons instead of weekend mornings, at a lower rate. And check out your community offerings, from free lectures at the library to free exercise classes at the senior center.
9. Now you're the boss. You used to pay for the premium cable package, because the kids insisted on it. Maybe you don't need that anymore. Downgrade your cellphone service if you don’t use the minutes. Cancel your membership to the swim club, if you're not using it. Look through your credit card bill. What are you paying for that you no longer use? Now is the time to cancel the charges that are there for your kids, and pare down to activities important to you. (Adopted From ttp://money.usnews.com/money/blogs)
