15 Tips to Stretch Your Retirement Income

Photo by Greta Hoffman

As the prices of consumer goods climb, many retirees are growing concerned about their financial future. For those seniors relying on Social Security, it’s even worse as inflation — which passed 8 percent in March — is far outpacing their annual cost-of-living adjustment (COLA). To help alleviate some financial concern, the senior living experts at Integracare came up with 15 tips for saving money after retirement.

Here are a few of our favorites:

  • Make home-cooked meals — Even though grocery prices are higher than they’ve been in year, cooking is still much more cost-effective than paying for meals at restaurants. If you do decide to dine out, be sure to look for restaurants that provide senior discounts.
  • Create a garden — This one kind of goes hand-in-hand with making your own meals. Not only does a garden offer you a bounty of free vegetables, but gardening is also great way to get outside and be active.
  • Enroll in a Driving Safety Course — You could get a discount on your car insurance (usually 5-10 percent) simply by passing a senior driving course. Plus, it’s always good to freshen up on the rules of the road and your skills.

The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $65 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and this bill will ensure the long-term solvency of the Social Security program.

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