• Question
  • Do you have an idea for cutting costs in retirement?

    Asked on 7/30/2009

    Share your ideas with other retirees.

  •  
  • Categories: Retirement Planning, Budgeting

Answers

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  • Cut back on the amount of detergent, toothpaste, shampoo, dish liquid and so on that you use. You’d be surprised at how much you can save by not wasting.

  • Login to rate this answer:   Answered on 8/7/2009
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  • Save your plastic grocery bags and use them as garbage bags.

  • Login to rate this answer:   Answered on 8/7/2009
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  • Take care of your car. A good maintenance schedule, regular cleaning, and sensible driving can make a car last for many years. Another good idea is to continue to put the payment in the bank after the car is paid for. When you decide to buy another car, you will have a good down payment.

  • Login to rate this answer:   Answered on 8/7/2009
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  • most expensive cost in retirement is housing if you own your home you could look into a reverse mortgage - which would cut out any mortgages if existing - this should provide decent saving - if you dont have an existing mortgage then you can take equity out without having to worry about paying a monthly income with that money you can save, invest, and pay off any debt that may be a burden on you right now

  • Login to rate this answer:   Answered on 9/28/2011
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.