15 essential services you can (and should) pay for in ... · retirement planning doesn’t stop...

15 Essential Services You Can (and Should) Pay For in Retirement

Introduction

Retiring is one of the most rewarding

feelings. However, many retirees have some

trouble continuing to manage their money

wisely. One of the biggest difficulties that

retirees must face is deciding what services

they should spend their money on. After

receiving a steady income for 40-50 years,

it’s an unfamiliar feeling once you no longer

have that stable and consistent income. You

only have a finite amount of savings once

you retire, and you may have to think about

each purchase you make and whether or not

it is a real necessity.

There is a broad array of services that

a retiree can purchase. To assist you in

establishing a budget and figuring out which

are worth paying for, we’ve outlined 15

services that you can, and probably should,

pay for in retirement.

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Gym / Fitness Membership

No matter your age, staying active and physically

healthy is a must. Gym memberships are a great

way to make sure that you’re getting enough

exercise, as well as getting out of the house

and getting into a routine. There are health risks

associated with not taking care of your physical

health when older, and without consistent

exercise, you may end up paying for additional

doctor appointments and in extreme cases,

for surgery and medication to help with your

ailment. A gym membership can help decrease

the likelihood of health problems.


Accessibility in Your Home

Creating an accessible home is something

that should be done by anyone who wants to

avoid leaving their home and going to a senior

care facility. Put money towards creating an

environment in your home with features that

allow you to live in your home even with physical

impairments that may come along as you get

older. Also, if you plan, you can create your

home in the way you envision it in the long

term, instead of rushing into a home remodeling

project while in need.


A Second Home

If you plan on traveling a lot, investing in

a second home in an area that you enjoy

visiting can be a smart investment. One of

the more expensive aspects of traveling

is lodging, and by purchasing a house in a

location where you would like to vacation

frequently, you can avoid paying for

expensive accommodation. And there is

always the option to rent out one, or both of

your homes for extra income to offset any

additional expenses.


Snow Plowing Services

While this may seem like an insignificant

choice, for the more frugal retirees who

live in areas that attract large amounts of

snow, this is a tough decision. If you don’t

leave your house much in the winter, you

may think, why even bother paying for

this service? When too much snow builds

up on your concrete driveway, you may

damage it which will end up costing more

than initially paying for the plowing service.

More importantly, snow shoveling and icy

conditions can be very dangerous to your

health and well-being.


Interior Home Cleaner

Earlier we referenced how physical health

is important, but so is your mental health.

Studies have shown that having a clean,

tidy, and well-maintained home can keep

your mental state healthy and fresh. A

professional home cleaning service can

get places that you might have difficulty

reaching and will make sure that your home

is clean and free of any harmful allergens,

especially in your air ducts.


Outdoor Maintenance

Similar to maintaining the interior of your

home, the exterior of your home still

deserves attention in your retirement. Your

gutters can be difficult to clean on your

own, and not having your gutters cleaned

can cause damage to the foundation of

your home, uninvited bugs and leaking

pipes. Not mowing your lawn can create an

unsightly landscaping appearance for your

home. Having these areas of your home

clean at all times will once again give you

peace of mind and keep you stress-free.


Financial Planning

Retirement planning doesn’t stop when you

retire. Once you finally do decide to retire,

you still need to make sure that you’re

keeping track of your finances, how much

you have saved away, and your investment

portfolio. A financial planner will help you

make sure that you’ll have enough money to

live comfortably in retirement and help you

set new goals and a corresponding action

plan for achieving them. Now that you don’t

have a stable income to count on, financial

planning is more important than ever once

you’re a retiree.


Your Hobbies

Most people dedicate the extra time they

have in retirement to their favorite hobbies.

However, this is also a time to try some

new activities as well, and you should not

feel guilty about spending any additional

retirement funds on doing something you

are passionate about. Make sure that you

take the time and use your funds that you

worked hard to accumulate on some fun

now and then.


A Pet for Your Home

Having a dog or cat in your home can

produce many benefits both for your

mental and physical health. A dog can help

encourage you to stay active and take

walks, and cats, dogs, or any other pet

can provide comfort and help to reduce

stress and anxiety. If you are in a single

person home, it can sometimes be lonely in

retirement, and a pet can help solve that.

However, before getting a pet, make sure

that you are physically able to care for them.


Travel Agent

While it may be wise to invest in a second

home in a location that you prefer, you

should also use your retirement to cross off

some different places on your bucket list.

Using the services of a travel agent will help

ensure that your trip is a fulfilling one and

that you get your money’s worth. A travel

agent will help you choose your destination

and your trip itinerary, as well as help you

select transportation, lodging, and other

entertainment options. Without the services

of a travel agency, you’ll have to spend

significant time planning your trip on your

own, and you may miss out on some of the

can’t miss features, as well as some great

deals on lodging and transportation.


Joining a Social Club

Becoming part of a social organization,

such as a golf club, can help maintain good

emotional and physical health. It’s also an

excellent opportunity to get together with

like-minded individuals who share your

interests and hobbies while making some

new friends along the way. Country clubs,

and others like it, are a great way to keep

you active and out of the house.


Laundry

Spend more time doing the things that bring

you joy rather than doing your laundry.

There are many full-service laundromats out

there who will not only do your laundry for

you but will also fold it and deliver it to your

home. While some people enjoy doing their

laundry, if that’s not you, then these laundry

services are a great way to free up your

time for activities you enjoy.


Delivery Services

Home delivery services are very popular

right now and for a good reason. They

are highly practical and are almost always

worth the price. There is everything from

prescription drug services like NowRx, to

food delivery services like Blue Apron or

Farm Dish. You can find the perfect delivery

services based on your needs and interests,

which will save you trips to the grocery

store and other errands.


Going ‘Smart’ With Your Life

We all know about smartphones, but how

about smart watches (like Fitbits), or smart

cars (like Smart Cars), and even Smart

Homes. Products that are similar to Fitbit

allow you to keep tabs on your physical

health and make sure that you’re healthy,

which can reduce trips to the doctor. Smart

cars allow you to save gas money on gas

and be environmentally conscious. And

smart homes allow you to save money by

reducing energy costs in your home. All-in-

all, smart services and products allow you

to save money in the long run and ultimately

have a more healthy retirement.


Ride-Sharing Services

It’s not uncommon for retired people to

get rid of the cars sometime during their

retirement. Vehicle maintenance, insurance,

and gas can all end up taking quite a toll

on your wallet. Because of this, people are

starting to travel primarily through ride-

sharing apps, like Lyft and Uber. Depending

on how often you drive or travel by car,

getting rid of your car and opting for only

using these ride-sharing services can be a

great benefit.

Focus Your Money on What’s Important to You

The most important aspect of deciding how

to spend your retirement money is to make

sure that you focus on what you value most

and what is important to you. For some, it

may be to travel the world. For others, it may

be to relax and spend some time reading

some books that have been on your list for a

while. It’s your money, and it’s up to you how

you wish to spend it.

Retirement should be a fun and stress-free

time. Make sure that you use your money to

make life easier and to enjoy your work-free

days.


15 essential services you can (and should) pay for in ... · retirement planning doesn’t stop...

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