12 Things to Cut When Living On Retirement
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Updated July 24th 2026
Let's be real: retirement is supposed to mean freedom — but for most people, it quietly becomes a game of stretching every dollar.
Here's the truth: most retirees are paying for things they don't need, don't use, or could get for far less. And the worst part? A lot of it is on autopilot.
I went through the 12 most common expenses that quietly drain retirement income — and what to do about each one.
1. Auto Insurance: Cut Your Payment by $400+/Year*
Sticking with the same auto insurance year after year?
It could be costing you.
The average American family still overspends by $4161 or more per year on car insurance - often without realizing it.
I usually pull up Auto Savings - a free site that compares offers from trusted insurers. It takes just 2 minutes to see what’s out there.
Here’s how:
- Click below to open Auto Savings
- Answer a few quick questions
- Compare real offers instantly
That’s all it takes. You’ll likely save yourself a bunch of money.
See how much you can save on car insurance
*Savings vary by zip code and driving record.
2. Have $2M Saved for Retirement? What Can You Actually Spend Per Year?
It's one of the most common retirement questions out there - and honestly, there's no simple answer. The right number depends on your tax situation, Social Security timing, investment mix, healthcare costs, and other things many people don't think about until it's too late.
The smart move? Ask a pro.
SmartAsset’s free tool matches you with vetted financial advisors who serve your area and are legally required to act in your best interest - not their own. You can have a free introductory call with each match before you commit to anything.
Here's how it works:
- Answer a few quick questions to find a match near you
- Get connected with vetted fiduciary advisors in minutes
- Chat with them for free and choose who you actually want to work with
No pressure, no strings - just a clearer picture of what your retirement can actually look like.
Get matched with a financial advisor today
3. Protect Your Vehicle From Expensive Repairs
That dreaded check engine light? Never good — especially if your warranty’s expired.
Endurance helps drivers avoid costly repairs with extended auto warranty plans that cover engines, transmissions, brakes, air conditioners, and more.
They’ve protected millions of vehicles over nearly 20 years and earned top reviews on Google.
Just enter your vehicle details and get matched with a plan that fits your car and your budget. Coverage is affordable, flexible, and built to save you money.
Don’t let repairs drain your savings.
4. Diversify Your Retirement Savings With Gold
If you've spent decades building your nest egg, the last thing you want is to watch inflation or a market crash take a bite out of it. That's exactly why more Americans are adding gold and silver to their retirement portfolios.
American Hartford Gold specializes in helping people do just that — whether it's physical precious metals or a gold/silver IRA. And the historical case is hard to ignore: gold climbed 330% between 2005 and 2020, and actually gained 25% during the 2008 stock market crash.2
Getting started takes three steps:
- Request your free Gold IRA guide
- Talk to a dedicated specialist about what makes sense for your situation (minimum IRA investment is $15,000)
- Transfer or invest to start diversifying
They carry an A+ BBB rating, hold the #1 spot on the Inc. 5000 list of gold companies, and are exclusively endorsed by Bill O'Reilly. If you're serious about protecting what you've built, this is worth a look.
5. Ask This Company to Pay Off Your Credit Card Debt
If you have a lot of debt, getting out of it can feel stressful (and nearly impossible). Here’s the problem: the longer you put off tackling it, the harder it gets to fix.
If you don’t take control of it early on, it can add undue stress to your life for years.
But what if there was a way to get out of debt once and for all?
National Debt Relief could help. If you have more than $10,000 in debt from credit cards, medical bills, collections, or personal loans, their representatives might be able to assist you in consolidating your debt into one low monthly program payment.
Best of all? There are zero fees until your debt is resolved, and you could be debt-free in 24-48 months. To get started, just answer a few simple questions. It only takes 30 seconds to see if you qualify!
6. Don't Sleep on This Underrated Cash Back Card: $200 Bonus + Up to 5% Back
Apply for the Chase Freedom Unlimited® credit card and you could earn a $200 bonus after spending just $500 in your first 3 months. The math is hard to ignore — your bonus is worth half of what you spend to earn it, making this one of the stronger spend-to-bonus offers available right now.
And the path to the bonus is simple. Apply, get approved, put $500 on the card over 3 months (groceries, gas, the usual), and the bonus lands in your account.
The rewards don't stop there. The Chase Freedom Unlimited keeps rewarding everyday spending with 5% cash back on travel booked through Chase Travel℠, 3% cash back at restaurants (including takeout and eligible delivery) and on drugstore purchases, plus unlimited 1.5% cash back on everything else.
Carrying a balance or planning a large purchase? This card also includes an intro APR offer on purchases and balance transfers for a limited time. Add in no annual fee, and it's easy to see why this card quietly outperforms others that get far more attention.
Good to excellent credit (typically 670 or higher) is recommended.
To see current details, visit the Chase Freedom Unlimited credit card
7. Skipping a Bonus? Set Up Direct Deposit - Pocket Up to $400
Set up an eligible direct deposit with SoFi Checking and Savings and you could pocket a bonus of up to $400.5 Make the switch, set up direct deposit, earn the bonus. It basically takes no extra work at all other than following these steps.
Why people are switching: This account earns up to an insane 3.80% APY on savings (3.10% APY standard + 0.70% APY boost for six months)5 on top of that $50 or $400 bonus.
That's way better than the measly 0.38% (per FDIC data as of 6/15/26) national average savings accounts offer.No monthly fees and no surprises.
Open your account and earn up to a $400 bonus
8. The $90/Month Bottled Water Mistake
Americans spend $60-90 a month on bottled water assuming it's the healthy choice. But here's what the bottle doesn't tell you: those plastic containers are leaching microplastics directly into your body — particles now linked to weight gain, gut damage, and metabolic dysfunction.
The NIH recently confirmed that microplastics "boost the growth and accumulation of fat cells." Scientists literally call them obesogens.
Dr. Steven Gundry — who lost 70 lbs himself and has kept it off for 25 years — found that the missing link for gut health isn't just what you eat. It's hydrogen. Your good gut bacteria need hydrogen to produce butyrate, the "repairman" compound that fixes your gut lining and fires up your metabolism.
His Ultimate H2 tablets deliver 5 parts per million of hydrogen (3x the competition) in just 2 minutes:
- Metabolism support for easier weight management
- Mental clarity without caffeine jitters
- Smoother digestion — goodbye bloating
- Better sleep quality
- Backed by a 90-day guarantee
See how it works + get 45% off
9. The $13,000 Tab Most People Don't Know They're Running
If you're regularly dealing with occasional bloating, unpredictable digestion, or that brick-in-your-stomach feeling after meals, you're probably spending more than you realize.
The average American dealing with chronic digestive symptoms racks up over $13,000 a year in related healthcare costs that are spread across copays, specialist visits, lab work, and prescriptions.
And that's before counting the rotating tab of OTC products.
The reason that number keeps coming back year after year is simple: most treatments only target the symptom.
A majority of them rarely touch what's actually causing the problem.
Fortunately, a former chief surgeon who spent 40 years in medicine believes he identified the real issue.
He calls it "leaky gut" - a breakdown in the gut lining that lets waste and toxins leak into the bloodstream.
And according to his findings, this could trigger chronic inflammation across the body, which is why symptoms keep coming back no matter what you take.
That's why he developed a simple morning habit that targets the gut lining directly.
And thousands of people are finally experiencing freedom from digestive discomfort, occasional bloating, and even noticing a flatter belly in the mirror.
→ See his 30-second morning habit here
10. Erase Interest Until Nearly 2028—0% Intro APR on Balance Transfers
Stop bogging yourself down with those high-interest credit card payments. It seriously limits your spending power. If your monthly interest payments are starting to creep out of control, you might need to take a look at changing things up with your current credit card by transferring your balance to a card with a 0% intro APR.
We've done the research and identified some of the best card options to help you take back control.
These cards offer a generous 0% intro APR on balance transfers until nearly 2028, which means you could get the breathing room you need to tackle your debt without being hamstrung by interest payments for a whole year.
On top of that, you can earn up to 5% cash back on everyday purchases and enjoy a $0 annual fee. It's really a no-brainer when you consider you could save on interest and earn on everyday purchases.
Get rid of your high-interest payments
11. The Mortgage Rate Mistake That Could Cost You $73,000
When it comes to mortgages, most people go with whoever they already bank with. It's convenient - but it's expensive.
Bankrate compared their 2025 average rate against the national average and found the typical borrower saved $73,000 over 30 years just by finding a better rate.3 And their top offers beat 99.7% of rates from 300+ surveyed banks and credit unions last year.4
The process is simple:
- Enter your zip code on Bankrate Mortgages
- Answer a few questions about your loan
- Compare real-time offers from 45+ lenders - no credit impact to browse
Bankrate has connected over 400,000 people with mortgage lenders. It takes about 2 minutes to see what you'd actually qualify for.
See current mortgage rates from 45+ lenders
3Comparison of 2025 avg. Bankrate rate vs. nat’l avg rate for 30yr term. 4Based on Bankrate's best rates in 2025 vs. 300+ surveyed lenders.
12. Get $300,000 in Life Insurance for $46/Month, 100% Online
Most people think getting life insurance means scheduling a doctor's visit, waiting weeks for bloodwork results, and sitting through an agent sales pitch. With Ethos, none of that is required.
All you need to do is answer a few health questions online and most applicants could get a decision the same day with no doctor visits, medical exams, or blood draws.
Every Ethos policy also includes access to estate planning tools like a will, trust, power of attorney, and more at no additional cost ($449 value per person). For a 55-year-old non-smoking female in good health, $300,000 in coverage could run around just $46/month on a 10-year term.
- No medical exams or blood work (just answer a few health questions online)
- 100% online (no agent required unless you want one)
- Coverage from $100K to $3M with terms from 10-30 years
- A+ BBB rating
- 4.8/5 on Trustpilot
- 30-day money-back guarantee
Whether you're looking to help protect a mortgage, help cover future tuition costs, or simply give your family peace of mind, Ethos lets you customize your coverage and term length to fit your life, and your budget. It won't replace a full estate plan, but it's a real head start for anyone who's been putting it off.
Sample rate: 10-year term policy for 55,60 and 65 y/o healthy, non-smoking females. Products not available in all states. Trustpilot rating as of 06/01/2026.
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