15 Things You’ll No Longer Need Once You Retire
CindyRetirement is a beautiful time when you can relax and enjoy the fruits of your labor. It's a new chapter of life where you can put aside some of the things you worried about in the past. Here are fifteen things you'll no longer need after you've retired.
1. Alarm Clocks
Imagine waking up naturally instead of hearing the blaring sound of your alarm every morning. No more repeatedly hitting the snooze button or groggily dragging yourself out of bed. Once you've retired, you can set your own schedule and enjoy sleeping in and only getting out of bed when ready.
2. Office Attire
Retirement means no longer conforming to the office dress code. Stuffy business suits and ties, or pencil skirts, are no longer part of your daily wardrobe. When retired, you can focus on shopping for clothing that makes you feel comfortable. Plus, you save on dry cleaning bills and ironing!
3. Rush Hour Traffic
Don't you hate rush hour traffic? Retirees no longer have to crawl along congested highways or sit on packed trains during rush hour. With your days free to do whatever you choose, you can commute to and from your destination outside peak traffic hours.
4. Peak Travel Prices
One of the many perks of retirement is being able to travel whenever you choose. While everyone else has to schedule their vacations around their annual leave, you can travel outside of the holiday season or summer break. You'll benefit from cheaper flights and hotels and fewer tourists at the attractions you visit.
5. Mandatory Training
Annual compliance courses and new software training sessions are some things most retirees won't miss about their jobs. Retirement means no longer having to sit through any seminars or workshops you aren't interested in. You're free to learn what you want, when you want, or not at all.
6. Inflexible Schedules
You can throw away the daily planner. You no longer have to balance meetings, deadlines, and office hours with your personal life and hobbies during retirement. You have the luxury of flexibility and can set your schedule however you see fit.
7. Paying Full Price
Who doesn't love a discount? During retirement, several activities and services offer senior discounts. You can enjoy activities like going to the movies or dining out at a lower rate than the rest of the public. There are also incredible deals on travel, hotels, and vehicle rentals available for retirees. Always look out for senior discounts.
8. Waiting in Long Lines
Everyone hates waiting in long lines, and it's even more difficult for retirees to stand in endless queues everywhere they go. Luckily, several places make special considerations for older adults through separate sections or seating areas. Also, as a retiree, you can run errands during off-peak hours while everyone else is at work or school to avoid long lines.
9. A Second Car
Do you really need a second car during retirement? Probably not. With a more relaxed lifestyle and the end of daily commutes to and from the office, one vehicle should be sufficient for a retired person or retired couple. Selling the second car could also increase your retirement income and save money on maintenance, fuel, and insurance.
10. Time-Saving Costs
Paying for conveniences like meal delivery, house cleaning service, and gardening or landscaping would have saved you time when working. Once you're retired, you will have much more time to take care of these tasks on your own.
11. High Tax Rates
Your overall tax burden decreases during retirement. Since your primary source of income is through social security, savings, and pensions, you'll likely be placed in a lower tax bracket. This means you'll have the financial relief of paying much less taxes.
12. Commuting Costs
People spend so much money on their daily commutes to and from the office, especially those who live far from work. Once you've retired, you'll no longer have the burden of paying for public transportation or gas and vehicle maintenance. The savings are substantial, allowing additional cash to invest in something else like a hobby, travel, or a fun class.
13. Life Insurance
Many people take out life insurance policies while young to ensure their home will be paid off and children cared for if something happens to them. However, once you're retired, your dependents are financially independent, and your mortgage is paid off, you could stop paying premiums. The cash you would have put towards insurance would then go toward providing for you during retirement.
14. Storage Unit
Do you have a storage unit filled with items you haven't seen or used in several years? Many people retire and still retain their old storage units, but the cost of renting the unit is just an unnecessary expense. When you retire, it's time to declutter and downsize, including clearing your storage unit.
15. Mortgage
Everyone should enjoy financial freedom during retirement, and a mortgage is a massive financial burden. So, most people aim to retire with their homes fully paid off. If your home isn't paid off, you could choose to downsize. Sell your home, pay off your debt, and move into a smaller house that better suits your budget.
She started her blog, The Money Dreamer, when she realized the 9-5 job was not the lifestyle she wanted anymore. After designing for a while, she wanted a more meaningful life, which was freedom, so she decided to venture out. She took action so that she can live her dream life and decided to help people to live theirs by helping them how to save, budget, and invest.
Marianne Paluso