13 Key Money-Management Tips Every Retiree Should Know

Stay active

Being active is essential for your health, no matter your age. Given that healthcare costs are higher in retirement, you should do everything in your power to stay as healthy as possible and reduce such costs. According to Fidelity, the average cost of a 65-year old retired couple over a span of twenty years could reach $260,000, excluding nursing home costs.

Therefore, if physical activity hasn’t been a priority before, it’s time to turn it into one! You don’t have to pay big bucks to stay active, either. Use a free app on your phone or smartwatch, like Google Fit (Android) or Health (iOS) to monitor your heartbeat, count your steps, track your fitness achievements and weight loss goals. These can both be linked to more complex workout and weight-loss apps, for even better results.

RELATED: How At-Home Exercise Boosts Immunity for the Elderly

Don’t hesitate to ask for help

With the help of the National Council on Aging, seniors in need of support can find plenty of government and local charitable programs. You only need to introduce your zip code and you’ll be able to see where you can get assistance with housing, food, medicine, and more, in your area. See also 9 Costs You Should Consider When Drafting Your Retirement Budget.

 

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