21 Ways to Cut Expenses in Retirement

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great, use the library for checking out reading material, movies, and doing research, great money saver! Take advantage of the free programs the library offers.

Linda of PA 8:28PM March 01, 2012

im a prostitute

Raul 7:11PM February 13, 2012

I'd reconsider waiting to take Social Security. What's your family history mortalitywise? I'm a male and the males on my paternal side are all gone by 75. Then again, just how sure are you that the money is going to be there for you later. You may not have noticed but globally publicly insured/sponsored programs are under a lot of stress. Finally, I think you have to ask yourself, "outside more money later, what do I actually gain?" I took mine at 62, was able to remodel my house with a new and higher mortgage and have cash to travel. There's no way that at 66 I was going to be healthier, stronger, more vigorous. And finally, there's a good reason the government pays more if you wait. People won't be around to collect. And it's not like a 401 where you can leave the proceeds of your social security to your heirs.

Don of CA 12:39PM November 24, 2011

These are very good suggestions. I would also add that living a full life can be very simple. I have been retired for 15 years so I have lived out there where the rubber meets the road. We own a condo in Oregon but spend winter in Arizona where we own a very simple, old but beautiful park model in an RV resort. We golf, eat out and enjoy all the activities the resort has to offer. And we do it on a educators retirement.
We did take SS at 62...we calculated how long it would take to regain the income lost if we had waited. In our world it just was not worth it.
Retirement can be freeing...location is yours to find. Less expensive states, cities or even countries are there for the picking.
Once you are in the habit of living on your income you will find it can be doable and your income will sustain you. But the key words here are "Live on your income". You may feel a small place is beneath you but if it is what you can afford, then so be it! (I have heard people that are forced to downsize complain because they do not have what their neighbor has. My answer is always "They can afford what they have. Can you?"
Thank you for the information.
b
http://www.retireinstyleblog.com

Barbara-b of OR 11:25PM February 10, 2011

I hear people say all the time "I have $500,000 in savings so I can retire early. I retired at 54 and my wife at 55. I am 61 now. Our retirement annuities are for life. Our house is paid for and we have no monthly bills except utilities, maintenance,food, etc., etc. Together we clear about $5000 a month. I still work and will continue until I am 62 and draw SS. My wife draws her SS begining in November. In 6 years our monthly annuities have totaled $420,000 and my income for that period about $20,000 a year. Do we live comfortably? Yes do we have money to travel extensively ? No, we still are somewhat frugal but not extravagant in spending. Thankfully our monthly annuties continue along with SS as long as we live. We also have 403 B accounts that we do not touch. But if we had planned on living on $500,000 6 years ago we would have about $80,000 left.

Danny Sullivan of AR 12:04PM October 18, 2010

Retirement will be rich in the extra time that you have for yourself and others. Don't worry about not having enough money. You did what you could and now is the timne to look ahead. Adjust where you live and how you live and enjoy the sweetness of doing exactly as you please for every minute of the rest of your life.

Michael M of NJ 2:46PM October 04, 2010

It's been repeated multiple times that retirees do better if they wait until full retirement age to sign up for Social Security. I've never seen in print the caveat that this may NOT be the best option if your spouse passes away before you do. I decided to take the early retirement at age 62 when I realized that if my husband passes away before I do, I then receive his full pension amount AS IF he had waited until his full retirement age (even though he also took the early option.) For those who believe they will outlive their spouses, it doesn't make sense to wait 3 or 4 years to begin collecting the pension, thinking that your checks will be higher later. If together the two of you have sufficient funds until one is left alone, why not go ahead and collect? If your spouse's full retirement amount is larger than your own, the advantage in waiting may not be as great as you were led to believe.

Ruth Mitchell of CO 8:56PM August 22, 2010

IN TWO MONTHS I WILL BE LEAVING A JOB THAT I HAVE HAD FOR 31 1/2 YEARS....I PUT AS MUCH AS I COULD INTO MY 401 K.....BUT, I DON'T EVEN HAVE 200,000------MY PENSION WILL BE LESS THAN $250.00 per MONTH.......SO, YOU CAN SEE THAT I WILL LIVE A REALLY SIMPLE LIFE....MY HOUSE IS PAID OFF....AND I DON'T HAVE ANY BIG DEBTS AS OF YET......BUT,ITS SCARY THINKING ABOUT NOT GETTING A PAY CHECK ANY MORE......

VAL of MI 2:16PM August 19, 2010

I agree with double dipping, as a retired school teacher, it is a shame that I am penalized 2/3 of my social security benefit. The quaters that I paid in SS were all years before I began teaching (which did not pay into SS). Retirement is going to require me to downsize and move to an area more friendly to people on a fixed income.
Ray in Texas

Ray Wommack of TX 10:45AM August 18, 2010

When I retired from the post office I did not know that 2/3 would be taken from my SS monies. I worked outside of the post office and I felt that all of my SS monies was due me.

Barbara of NJ 2:06PM August 17, 2010