Alert
Close

Think you know AARP? What you don't know about us may surprise you. Discover all the 'Real Possibilities'

Highlights

Open

Contests and
Sweeps

Dream Vacation Sweepstakes

10 weeks. 10 amazing trips. Seize your chance to win!
See official rules. 

Driver Safety

Piggy bank on the road - AARP Driver Safety

Take the new AARP Smart Driver Course!

PROGRAMS

AARP Foundation Tax-Aide

You can get free, face-to-face tax assistance nationwide.

Money Matters Tip Sheets

Download and print out these PDFs to help with your financial matters.

AARP Books

Visit the Money Section

Enjoy titles on retirement, Social Security, and becoming debt-free.

webinars

Learn From the Experts

Sign up now for an upcoming Money webinar or find materials from a past session. 

Jobs You Might Like

most popular
articles

Viewed

Commented

Retired? Try These Money-Saving Tips

6 strategies to match your new stage of life

En español | Stretching your money during retirement can be like attempting to plug a leaky faucet — despite your best efforts, you're faced with a slow drip of dwindling savings.

See also: Making retirement plans?

Financial priorities and personal needs change during each stage of life, but the retirement years frequently present the biggest challenge. When a leave-no-stone-unturned approach to trimming expenses is necessary, adult children may be able to help their parents do the detective work.

Depending on income level, retirees need 77 percent to 88 percent of their preretirement income to sustain their lifestyle, according to a 2008 study by Aon Consulting and Georgia State University.

Sally Herigstad, a certified public accountant who helped her father through his last years of life, says eliminating small expenses can result in big savings and help you meet retirement income goals.

Man trimming dollar sign - cost cutting retirement planning

Meet your retirement goals by cutting down on expenses. — Laughing Stock/Corbis

"Go through credit card statements with a fine-tooth comb," advises Herigstad, author of Help! I Can't Pay My Bills! People "can have all these little dribbles coming out of their credit card accounts every month. It all adds up." Look for recurring charges such as magazine renewals, credit score monitoring or online services that no longer are being used.

Eco-entrepreneur Lynn Colwell says that money-saving answers are all around us, if we take the time to look.

"The biggest problem we have is we don't stop to think about how we can save money," says Colwell, coauthor of Celebrate Green! "We fight the impulse to realize there are solutions."

Signing up with your local utility company for a free home energy audit, for example, is an easy step toward cutting energy bills, Colwell says.

Next: Here are six often-overlooked ways to free up extra cash. >>

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

AARP Credit card from Chase

Members can earn 3% cash back on purchases with the AARP® Visa® Card from Chase.

Info on saving for education from AARP® College Savings Solutions from TIAA-CREF.

Searchable member discounts via AARP® Member Advantages Offer Finder mobile app.

Get the most out of your AARP membership – opt-in to receive AARP emails today!

featured
groups

savingchalleng

Savings Challenge

Have the gift of thrift? Compete for prizes in the 2011 Savings Challenge from April 1-30.

Discuss

Clutter Challenge

Clutter Challenge

Ready to get organized, once and for all? You've come to the right place! Discuss