1. Practice Frugality
Even if you were "living large" before, retirement is a time when you need to consider where every penny goes. If you don't have a budget, set one up. The Federal Citizen Information Center offers dozens of free booklets on how to live frugally and save a lot of money on food, health care and travel. If you are a member of any special organization, such as AARP, you may also qualify for discounts and be able to obtain free tickets to shows and other entertainment venues. Senior Ark is a not-for-profit website written by seniors for seniors, is full of tips on how to survive retirement on a fixed income. The site offers information on housing, transportation, food and utilities, organizations, clothing and household expenses. Joining community centers and local senior organizations may also grant you access to other free options.
2. Make Sure You're Getting Everything You're Entitled To
While you automatically qualify for retirement benefits once you reach a certain age, you may also be eligible for other benefits in certain circumstances. Examples include supplemental security income (SSI) benefits, disability claims, widow or widower benefits, Medicare and even Railroad Retirement claims if you ever worked in that area. You can check the list of benefits you are entitled to by using the Benefit Eligibility Screening Tool at the Social Security website.
3. Consider Getting a Part-Time Job
If you retired young and are in good health, working just a few hours a week can help make retirement much easier and supplement social security without feeling like a chore. A lot of places are eager to hire seniors because they have more freedom in their schedule and can also bring their expertise and background to a company without the need for training. If you don't want an "official" job, babysitting, running errands or starting your own small business are also all good ideas.
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