What is your best money saving idea for retired people?

[You]

What's the most effective money saving strategy for retirees? I'm looking for practical tips to stretch my retirement funds further. Should I prioritize downsizing, travel hacking, or smart investing? Share your expertise to help me make the most of my golden years and ensure a financially secure future!

 

[Shavkat]

It may sound weird, but I think they can still be productive in participating with forum sites and the like.

 

[eldavis]

Instead of relying on saving alone, it will go a long way to also have investments that will generate passive income for me.

 

[Sawe]

I think a retiree should be big on smart investment. This is because they need a way to keep and grow their money in order to last longer. So they should learn investment strategies and businesses that work for them.

 

[nomad]

Retirement means you do not have active income, in that case saving will be very difficult for you

 

[freelancermaria]

It is essential for retired individuals to have a source of passive income. One viable option is investing in property, particularly in an apartment, as it offers the potential for consistent monthly earnings.

 

[King Belieal]

I just believe that people that know they are going to retire someday should build a very strong business for themselves.

 

[Stardom22]

For them if they could have started saving little by little while working for the retirement that could be a very great idea.

 

[Kera]

Retired people should have finished training their kids way before retirement so that they don't get to spend retirement funds on training kids.

 

[Rubz]

I believe the best money saving idea for retired people is investing. This is because their savings alone might not be able to sustain them so they need to invest to gain more funds.

 

[cherry123]

Avoid lifestyle inflation. Don't go overboard because of the bulk money you received or else you would soon go broke

 

[SHAHID987]

From Today start investing in gold, means start purchasing gold. I remember that 27 years before gold here was 5000 Rs per 10 gram and today it is 250,000 Rs per 10 gram. I feel it will further move up and up.