How I Save Money by Living Simply in Retirement | Retirement

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Embracing a simple lifestyle in retirement can help you relax, appreciate what you have and save money over the long term.

Janet Ruth Heller and her husband, Michael, both former college professors in Portage, Michigan, accomplish this by staying active but keeping a close eye on spending. “Both of us earn some income each year from part-time work,” Heller said in an email. “However, we rely on our savings and some investments for most expenditures. We do not want to live extravagantly.”

If you’re also looking to save money by living simply in retirement, here are some ideas from Heller and financial experts :

  • Create an income plan.
  • Track each dollar.
  • Keep living expenses low.
  • Get involved in groups.
  • Avoid impulse spending.
  • Choose activities thoughtfully.

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