Learn More About Denver’s Best Deal in Retirement Living
By Amber McGinnis
THE ERICKSON TRIBUNE
Most financial analysts advise that post-retirement spending is as important as pre-retirement investing. Since the ultimate goal of most people is to maintain their comfortable lifestyle while preserving the money they’ve worked hard to save, smart spending is vital.
Spend Wisely
When it comes to postretirement spending, experts recommend taking the same approach to money management you did before you retired. Here are a few tips:
Eliminate Extra Fees and Charges from Your Budget
Take inventory of those bills! Look over your bank account, cell phone bill, and credit card statements to see if you’re getting the best rates. Also, try to eliminate extra fees by changing banks, reducing your cell phone to a less expensive plan, or refinancing any loans you may have, like your car.
Flaunt Your Age
Reap the benefits of “senior” discounts. Airlines, auto clubs, supermarkets, retail stores, movie theaters, and restaurants are a few places that may offer discounts for older adults.
Take Up a Part-time Job
If you’ve retired and want to make extra cash, consider a part-time job. This time, choose a position that is easy, interests you, or that would be fun. Work in a bookstore, serve in a coffee shop, or take tickets at a local stadium—chances are you’ll enjoy the opportunity to have a little fun while earning some money.
Let Go of the “Family” Home
Tap into the equity in your home. Sell your house, trade it for something more modest, or better yet, move to a servicebased, aminity-rich community and use the extra cash to generate income. You’ll also eliminate costly property taxes and insurance and have extra time to pursue the things you’ve always wanted to do. For more guidance and information contact, Retirement Counselor Molly Thorne—she has the expertise to steer you in the best direction.