There are several effective ways to save money during retirement, including:
- Creating a budget and sticking to it: This can help you identify areas where you can cut expenses and save money. If you link your primary spending account with PensionPlus, we can help you stay on track with your budget.
- Staying healthy: Health care costs can be a significant expense in retirement, so maintaining good health can help you save money.
- Avoiding excessive fees and taxes: Be sure to compare investment options and avoid paying excessive fees or taxes on your savings.
- Working part-time: Some retirees are able to earn extra income by working part-time, which can help supplement their savings.Claiming all eligible government benefits: There are many government programs that can help seniors save money, such as Social Security and Medicare. Be sure to research and claim all benefits for which you are eligible. PensionPlus can help you maximize your Social Security income using our Social Security Boost program.