How Baby Boomers Can Enjoy Their Golden Years On A Budget
Polls reveal that money is among one of the top anxiety triggers of the baby boomer generation, to include not having enough cash to retire and skyrocketing health care costs. It's because of this that boomers are becoming overly frugal and not making an effort to enjoy their golden years.
While a cruise around the world may not be an option, there are still plenty of ways seniors can enjoy themselves while taking care of their financial responsibilities. For example, final expense life insurance is an affordable alternative to an expensive life insurance policy if you're on a fixed budget. Lincoln Heritage Funeral Advantage details the policy as a sum of money provided to your loved ones upon your death “that can be used to cover any expenses you leave behind, such as medical bills and funeral costs.”
Other ways to free up some cash include freezing your property taxes (if your state allows), taking a safe driving course and taking advantage of senior freebies and discounts — from dining to movie tickets and everything else in between. Of course, it doesn't take a boatload of cash to have a good time. Proof lies ahead.
Research Affordable Vacation Destinations
The beauty of retirement is that you have some spare time on your hands, so make an effort to research budget-friendly vacation destinations that have all the desirable components for an enjoyable trip. Sign up for travel alerts so you're privy of the latest deals and consider traveling off-season when ticket prices and hotel costs are more attainable.
When it comes to lodging, vacation rentals are often less expensive. Or, if you're up for it, consider doing a house swap with someone in another state or country for free of charge. Taking a volunteer vacation is a great way to flex your philanthropic muscles while paying a minimal amount of money for a trip in an exotic location.
Create A Backyard Oasis
If you want to escape to a tranquil oasis, look no further than your own backyard. Along with upping the ante in the landscaping department (to include planting lemongrass to keep the mosquitos away), consider adding other bells and whistles. Consider:
- Hanging a chandelier with solar lights from a tree branch.
- Installing mirrors on the fence to make your yard look larger.
- Repurposing an old chair into a swing, installing — or expanding — a deck or patio.
- Coating planters with glow-in-the-dark paint for a less obtrusive lighting source.
- Planting herbs including lavender to enhance the smell.
- Installing a music system or investing in an inexpensive voice command device.
- Throwing down a floral ground cover in lieu of grass.
- Tossing rainbow crystals into your fire pit.
- Strategically placing hammocks, hanging tasteful string lights.
Create additional privacy (and visual appeal) with a plant wall, installing a small fountain or other source of audible entertainment and pretty much anything else that brings you pleasure.
Sign Up For Deal Sites
Deal sites are all the rage these days, so there's no reason to feel like a cheapskate for taking advantage of them. You can score significant deals on dining, shopping, entertainment, grooming, personal and home-related services — even travel — so there's no reason not to sign up for various alerts so you're always in the know.
Buy Last-Minute Theater Tickets
Depending on where you live, many cities and towns offer last-minute discounts (oftentimes as much as 50 percent off or higher) on theater, symphony, opera and other spectacles when a show didn't sell out and copious seats are still available. Check to see if there's a niche provider for such a service within your area before individually checking each box office.
Host A Potluck Dinner
While it's fun to have family and friends over for dinner, it can become a costly endeavor, so host a potluck affair instead. To prevent a hodgepodge meal, choose a specific theme so all of the dishes are within the same category. Don't forget to create a virtual sign up sheet with the invitation so you can avoid multiple repeats.
Prevent getting into a rut by perpetually mixing up your activities. Seek out new ways to enjoy yourself without breaking the bank. Don't forget to research resources within your community where you can network with other seniors who are in the same boat.