Why Retirees Might Want to Consider an Electric Vehicle
Typically, seniors aren’t ones to embrace new technology. But a new report by GoBankingRates says switching to an electric vehicle (EV) could be a smart choice for retirees.
The article says retirees wanting to cut costs and eliminate some of the inconveniences of owning a car might want to consider trading their traditional car for an EV. The most obvious reason is that you no longer need to pay for fill-ups at the gas station. One report says EV owners can save up to $14,500 on fuel costs alone over 15 years.
EV cars can also save up to $330 per year on maintenance costs, with no need to pay for air filters or oil changes. And EVs are known for a comfortable ride and enhanced safety features. To further entice seniors to make the switch, there are a variety of rebates and incentives to purchase an EV.
The Seniors Trust is committed to improving the well-being of older Americans. This will be done financially through the passage of the Social Security Expansion Act. When enacted, it will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.
