Retirement: Expenses to Minimize or Eliminate
Managing Your Finances on a "Fixed Income" Retirement can be an exciting time. With that freedom comes the responsibility of managing your finances on a "fixed income". Expenses: to Minimize or Eliminate ASK YOURSELF THE FOLLOWING QUESTIONS: (Excellent points, condensed to 6, from "Go Banking Rates": Used or New Do you need a "new car" or "used"? Purchasing a vehicle is a significant expense in retirement. Especially when car payments are involved. Advantages of a new car are "warrantees". Disadvantages are considerable cost of and "immediate" devaluation of the vehicle's value. Careful research can result in purchase of a "new to you" vehicle that is dependable. Dream House When it is "just you or you + your spouse", consider the cost of home ownership (maintenance, utilities, etc.) and taxes for a large home. Avoid making major upgrades. While small improvements can be beneficial...