3 Things Retirees Can't Afford to Waste Money On
Though retirement can be a rewarding period of life, it can also be one that's financially taxing. An estimated 33% of senior households either have no money left over each month after paying their bills, or run into debt each month because their income can't cover their basic costs. That's why it's crucial for retirees to be mindful of their spending, especially if they're not working part-time and don't have a means of generating extra income. Here are just a few things that tend to cost seniors way too much money.
Not all seniors choose to downsize once they stop working. If you like your neighborhood, and want the option to offer your adult kids (and their kids) lodging when they come to visit, then hanging onto your home might seem like a good idea. The problem, however, is that as homes age, they get increasingly costly to maintain, and if you're not careful, you could end up blowing a large chunk of your (limited) income on upkeep alone.
IMAGE SOURCE: GETTY IMAGES.
Source: Fool.com
