Remember what it was like to be on an allowance as a child? A couple of dollars a month, if you were lucky. How did you ever stretch that to do the things you wanted to do?
Retirement isn’t so different. You’re on a very fixed budget—one that you’ve saved for your entire career—and it can be frustrating to know that you might not be able to do all the things you once dreamed about now that you finally are retired. Can you afford to go to that show?
Fortunately, there are a few ways to stretch your dollar and still have plenty of opportunity to do many of the things you’ve always dreamed of.
Volunteer
At plays, musicals, sporting events, and sometimes concerts, many of the ushers and other staff around the building are volunteers. If you volunteer your time to help the ticket holders find their seats, many venues will let you stay in and enjoy the show—free of charge.
Meetup
A great website called Meetup allows you to find other individuals who are interested in the same things you are, whether that is the great outdoors or just knitting. Having a group of like-minded people can make your hobbies much more fun, and can provide you with plenty of entertainment without spending any additional money.
Senior Discount
Don’t be too proud to opt for the senior discount, whether you’re out to eat or going to a ball game. The senior discount can cut the cost of some events or meals by up to half. At the same time, some museums, zoos, and other attractions may offer free admission on specific days. If you don’t mind battling a crowd, it’s a great way to spend some time without spending extra money.
Colleges
If you happen to live near a college or university, you’ll find that there are often events that are free to the surrounding public—or at least very affordable. From traveling shows to student-performed musical sessions, these are great opportunities to see world-renowned and up-and-coming talent.
Earn Extra Money
It’s not uncommon for retirees to get “retirement jobs” these days, to help them do the things they’ve always wanted. Another option for retirees looking to afford that lake house or dream vacation is a life settlement. If you have a life insurance policy that you no longer want or need, consider selling it for cash.
This article was provided by Leo LaGrotte, President of Life Settlement Advisors.
