Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

12 Retirement Ideas That Work for Any Household

January 11, 2021 · Retirement Life

11. Wait To Draw Social Security Until You’ve Maxed Out Benefits

Of course, you are entitled to claim Social Security benefits as early as possible, but doing so could have nasty consequences down the line. It’s a good idea to live off of your other savings until you reach 70 in order to max out your benefits.

Here’s how it works. The amount of money you’ll receive from the government won’t change. But the earlier you claim benefits, the more you’ll have to stretch that money out. In 2020, if you turn 62 and decide to receive your Social Security checks, you could collect $716 per month. Once you reach 70, your benefits will go up to $1,266 per month.

This may be when healthcare costs will begin to rise for you, but the larger amount of money will help significantly. Tap into your other savings first, it’s the smartest choice you’re going to make!

12. Rent Instead of Own

A lot of seniors consider renting instead of owning blasphemous. After all, your home is probably the biggest investment of your life, and giving it up now sounds like a waste, right? But if your home is too big and expensive to maintain, you could save thousands of dollars by renting instead. Not to mention the fact that a lot of expenses will be passed on to your landlord instead.

Cross off property taxes off your worry list, too. In some cases, you won’t even have to worry about utilities either. Those are two major costs during retirement and the more you can save, the more you’ll be able to invest in your new hobbies, healthcare, or traveling the world!

The money you get from saving your home will be significant, too, and you’ll be able to stretch it out over the remaining of your life if you are careful about your monthly budget!

Which of these 12 ideas sound perfect for your retirement? Let us know by commenting down below, we’d love to hear what you plan on doing once you retire!

Pages: 1 2 3 4 5 6

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A grandmother stands quietly in a cozy kitchen while her adult daughter feeds a toddler at the table, capturing a subtle family moment. 10 Signs You're Overstepping as a Grandparent
  • 2027 IRMAA Bracket Forecast: Estimated Income Thresholds by Filing Status 2027 IRMAA Bracket Forecast: Estimated Income Thresholds by Filing Status
  • A woman in her mid-60s sits at a sunlit wooden kitchen table, circling a date on a paper wall calendar. The Birthday That Changes Your Medicare Options Forever
  • An older couple sitting at a sunlit kitchen table reviewing financial documents together in a warm, candid moment. How Much You'll Actually Get From Social Security at Every Age
  • An older man with silver hair smiles warmly while working behind the front desk of a brightly lit local community center. 6 Part-Time Jobs at Community Centers for Retirees
  • An older couple sits at a wooden kitchen table in morning light, carefully reviewing Medicare paperwork and calendars. The Medicare Deadline That Sneaks Up on Retirees Every Year
  • An older couple reviewing retirement planning documents together at a sunlit kitchen table, capturing a warm and organized moment. Medicare Part B vs Part D: A Side-by-Side Breakdown
  • What $3,000 a Month Really Looks Like in Retirement Based on Where You Live What $3,000 a Month Really Looks Like in Retirement Based on Where You Live
  • An older couple in casual clothes sitting at a wooden kitchen table, looking at a tablet together in warm natural light. Here's What the Average Social Security Check Is in August (How Do You Compare?)
  • A retired couple walks down a peaceful, tree-lined suburban sidewalk during the warm golden hour. 10 Best Retirement Cities With Peaceful Neighborhoods

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

A retired couple hiking hand-in-hand along a scenic desert trail lined with cacti during a warm, golden sunset.

20 Affordable Desert Towns Retirees Are Falling in Love With

Discover 20 budget-friendly desert towns perfect for retirement, offering endless sunshine, low taxes, and an…

Read More →
A man in a driveway at dusk looking at keys with a massive RV in the background, shot on 35mm film with warm grain.

8 Retirement Purchases That Feel Smart At First But Age Poorly

Discover eight common retirement purchases that drain savings and energy over time, plus practical alternatives…

Read More →

9 Ways FBI Agents Protect Their Homes

Secure your garage as well Well, you don’t have to forget about your garage if…

Read More →

19 Successful Ways to Save Money for Retirement

Take Advantage Of Your Employer Match You’ll be hardpressed to find a job that offers…

Read More →
A retired couple at a kitchen table looking at a map and tablet, planning their next move to a surprise retirement destination.

8 Places That Surprise Retirees in the Best Possible Way

Discover eight surprising retirement destinations that offer excellent healthcare, affordable living, and vibrant communities away…

Read More →

6 States That Are Perfect for Healthy and Active Seniors

1. Hawaii Finally, the best state for retirees in terms of health care in Hawaii.…

Read More →

11 Countries to Retire Where $150K Is More Than Enough

Ireland  Although prices in most cities of Ireland have reached all-time highs, there are still…

Read More →

10 Hidden Drawbacks of 401(k)s That Will Leave You Speechless

Recordkeeping May Be Inadequate By now, we’ve all figured out that a 401(k) plan is…

Read More →
A retired couple sits on a coastal bench in Maine at twilight, looking out at a harbor with lobster boats.

9 Charming Northern Spots for Retirement

Explore nine charming northern spots for retirement, offering vibrant seasonal beauty, top-tier healthcare, and tax-friendly…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.