After you retire, chances are you will have less money to spend than you did when you were working. It is also true that some expenses, such as health care, will be higher. For these reasons, it is important to cut costs where you can so that the money you have saved can last as long as you need it to.
CNN Money recently released a list of five things retirees can do to reduce their expenses. It starts with considering a downsize in living space. Many retirees choose to move to a smaller, simpler home or apartment that meets their needs but costs less than the home they had been in before. Even if you own your home outright, doing this can lower your tax burden and generate income from a sale of your existing home.
For the full list, read their article here.