12 Things to Cut When Living On Retirement
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Updated October 2nd 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.
The good news is that you don't have to make drastic sacrifices to stretch your budget. Start by reviewing these 12 common expenses—many of which can be adjusted quietly from your phone or computer.
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. 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.
3. Get $300,000 in Life Insurance from $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 (up to $898 in value)*. 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
- 100% online
- Coverage from $100K to $3M with terms from 10-30 years
- A+ BBB rating
- 4.9/5 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 budget.
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 08/01/2026.
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 why more Americans are adding gold and silver to their retirement portfolios.
American Hartford Gold specializes in physical precious metals and gold/silver IRAs. Gold climbed 330% between 2005 and 2020, and gained 25% during the 2008 stock market crash.3
- Request your free Gold IRA guide
- Talk to a dedicated specialist (minimum IRA investment is $15,000)
- Transfer or invest to start diversifying
5. A New Roof Could Be Closer (and More Affordable) Than You Think
If your roof is showing its age — leaks, missing shingles, or storm wear — it might be doing more harm than good. A roof replacement protects your home from the inside out, while also cutting energy costs and adding real value.
This free program matches homeowners with trusted local roofing contractors based on their zip code. No obligation, just a quick check to see what's available near you.
Reasons homeowners are replacing now:
- Stop water damage before it spreads
- Improve insulation and lower monthly bills
- Withstand wind, hail, and heavy storms
- Raise your home's resale value
- Potentially qualify for insurance savings
6. Home Repair Bill? Let Someone Else Foot the Bill
Your AC breaks in the summer. Your fridge dies without warning. Stuff like this happens more often than you think — and it's almost never cheap.
That's where a home warranty helps. It's like backup coverage for appliances, plumbing, electrical, and more — things your homeowners insurance typically doesn't cover.
Choice Home Warranty has been protecting homeowners since 2008, with a 24/7 claims line and a nationwide network of service technicians.
- Enter your zip code
- Answer a few quick questions
- Lock in your 2026 rate and get $50 off + 1 month free
7. 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 $30,000 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!
8. A New Roof Could Be Closer (and More Affordable) Than You Think
If your roof is showing its age — leaks, missing shingles, or storm wear — it might be doing more harm than good. A roof replacement protects your home from the inside out, while also cutting energy costs and adding real value.
This free program matches homeowners with trusted local roofing contractors based on their zip code. No obligation, just a quick check to see what's available near you.
Reasons homeowners are replacing now:
- Stop water damage before it spreads
- Improve insulation and lower monthly bills
- Withstand wind, hail, and heavy storms
- Raise your home's resale value
- Potentially qualify for insurance savings
9. Knock Out High-Interest Debt and Earn Cash Back: $200 Bonus + Intro APR Offer
If high-interest credit card debt is eating into your paycheck, this card could help reduce interest charges for a limited time while still rewarding everyday spending.
The Chase Freedom Unlimited® credit card includes an intro APR offer on balance transfers and new purchases for a limited time.
Earn 5% cash back on travel booked through Chase Travel℠, 3% at restaurants and drugstores, plus unlimited 1.5% cash back on everything else. New cardholders can earn a $200 bonus after spending $500 in the first 3 months. No annual fee.
10. Spending $1,000s to Repair Water Damage: How Virginia homeowners are preventing roof rot, mold, and foundation damage for good
Overflowing gutters can lead to water damage, roof rot, mold, and foundation problems — the kind of repairs that run into the thousands.
If you own a home in Virginia, HomeBuddy offers a micromesh gutter guard built to prevent exactly that. The company will even clean out and realign your gutters before installation.
Enter your ZIP code and home info, and a representative will reach out to schedule a free estimate.
11. Still Paying a Monthly Mortgage at 62+? You May Not Have To.
If you're a homeowner aged 62 or older and still writing a check for your mortgage every month, there's an option that could eliminate that payment entirely.
Through Mutual of Omaha, eligible homeowners can convert home equity into cash or use it to pay off their current mortgage, with no required monthly mortgage payment as long as they live in the home.
It's not for everyone, but the consultation is free and there's no obligation.
See what you qualify for with Mutual of Omaha →
12. Still Overpaying on Your Home Insurance?
Home insurance protects your biggest asset — but that doesn't mean you should overpay for it.
Most people don't realize they can switch providers anytime and potentially save hundreds per year without losing coverage.
This top-rated tool lets you compare multiple home insurance offers in one place. Just enter your zip and basic info.
13. Cut Credit Card Debt: Stop Paying High Interest
If high-interest credit card payments are eating into your budget every month, this might be the move you've been waiting for.
This leading balance transfer card offers a generous intro APR on purchases and balance transfers. Transfer high-interest balances and more of each payment can go toward eliminating debt rather than interest. No annual fee. A balance transfer fee applies.
14. The Average Timeshare Owner Pays $1,480 a Year in Fees - and That Number Keeps Climbing
In 2024, the average maintenance fee hit $1,480, up 17.5% in a single year, before special assessments and surprise repair charges.
When you're gone those obligations can pass directly to heirs who never signed up for them.
If you're in a timeshare you want out of, The Stonegate Firm may be able to help with permanent, legal cancellation.
Take the free quiz to see if you qualify
15. A Financial Plan Now Could Mean More in Retirement Savings
Most people put off talking to an advisor because they assume it's expensive, or that they don't have enough saved to bother.
NerdWallet Advisors Match asks a few questions about your age, goals and finances, then matches you with up to three financial advisors. Getting matched is free for you, and there's no minimum to use it.
From there you decide whether to talk to any of them. You only pay if you hire one.
It is free for you to get matched. Advisory services from matched advisors are subject to their own fees. Nerdwallet Advisors may prioritize participating firms based on compensation. Greensprout receives cash compensation from NWA for their promotion, which creates a financial incentive to endorse Match. Greensprout is not a client of NWA.
17. Transform Your Bathroom With a New Walk-In Shower
Thinking about upgrading your bathroom without overspending?
A new walk-in shower gives you a cleaner, safer, more modern space, usually for a fraction of a full remodel and in days instead of weeks.
Compare walk-in shower styles and receive a free quote from trusted pros in your area at no cost.
Today's Top Home Equity Financing Offers
See how much you could borrow, and at what rate, by comparing real-time HELOC and home equity loan offers from trusted lenders. Rates are updated daily and checking won't impact your credit.
Are You Ready For Retirement?