4 Easy Ways to Lower Your Living Costs in Retirement
Many people worry about covering their expenses in retirement, and the truth is, even if you save well for that milestone, you might still find yourself in a cash crunch if your bills come in higher than expected. The good news, however, is that a few smart decisions on your part could make retirement a less costly endeavor. Here are four moves to consider.
Ideally, your mortgage will already be paid off by the time you retire (or if not fully gone, then mostly gone). But generally speaking, it costs more to live in and maintain a larger home than it does a smaller one, so if you'd rather conserve funds, consider downsizing. Property taxes, for example, are often calculated based on how much square footage and land you have, so if you cut those numbers in half, you may not see your property tax bill shrink by 50%, but it should drop substantially.
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Source Fool.com
