Retirement Retired Life

Retirees Who Rarely Worry About Money Tend to Avoid Spending on These Things

Skipping these expenses could help you meet long-term financial goals.

By Josh Koebert , Edited by Laura Hohenstein

Updated Aug. 29, 2026

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Freeing yourself from worrying about money isn't just about learning how to earn extra money. While a high salary is a big help, a big paycheck won't matter if you let expenses add up and prevent you from saving money.

People who have long-term financial goals could take a page from how retirees are currently using their money. The ones who are financially secure often avoid making the same types of purchases to preserve their wealth.

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Extended warranties

Some sellers offer extended warranties for products that are bound to break down. Some of these warranties could get quite expensive, especially for vehicles and HVAC systems.

However, most people underestimate product lifespans and end up paying extended warranty premiums that prove to be unnecessary.

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Whole life insurance

A whole life insurance policy could help breadwinners who have young families, but it isn't necessary for retirees. A nest egg and Social Security cover a lot of financial ground, and getting rid of this policy frees you from monthly premiums.

Young couples don't have to get whole life insurance to protect their families. A term life insurance policy could work just as well. By the time a 20-year or a 30-year policy concludes, your children have become adults and could make their own income.

Brand new cars

Retirees who don't worry about money often avoid new cars. They don't take out loans or enter leases for these vehicles. Some of them have been driving the same car for more than a decade, and it's getting more common to see older vehicles on the road.

S&P Global Mobility found that the average U.S. vehicle age reached a record 12.8 years in 2025. It's even higher for passenger cars, with the average age for those vehicles climbing to 14.5 years.

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Cable packages

Not every retiree needs expansive cable packages that include a bunch of channels they would never visit. Streaming makes it easier for many people to get what they need without paying more than $1,000 per year.

Free entertainment options like YouTube and local libraries reduce the need for cable packages. You should assess how many channels you use in your current package and determine if a cheaper package with fewer channels is right for you.

Subscriptions they don't track

Streaming could be a great way to get rid of a cable plan and limit your watching experience to the shows and channels that you want. However, streaming and other subscriptions that aren't tracked would build up in the background.

If you haven't done this in a while, you may want to review your bank and credit card statements over the past three months. That way, you could pinpoint which subscriptions are eating into your earnings.

When you are retired, you don't want to worry about unused subscriptions reducing your nest egg.

Unused gym memberships

Gym memberships are a type of subscription that could be great for your fitness. However, you should ditch your gym membership if you do not use it multiple times per month.

There are alternatives as well, such as running, biking, and buying some equipment that could make a gym membership unnecessary.

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Financial products with high fees

Retirees with strong financial foundations don't waste their time with financial products that have high fees. Loans, refinances, and credit card debt are all in the past for these individuals.

These financial products could get you through emergencies when money is tight, but retirees often build emergency savings accounts to prevent this issue in the future.

An emergency fund is your financial layer of defense against these products, and a retirement portfolio that continues to compound each year would give you more options in retirement.

Expensive gifts and financial help for adult children that strain their budgets

It's nice to give gifts to your adult children and your grandchildren, but you must do so responsibly. Retirees with solid financial foundations do not give out gifts that could strain their nest eggs and create long-term issues.

Some gifts are available for low prices and do the job well. They demonstrate that you care while keeping your long-term financial goals intact.

Storage units

A storage unit is often for unwanted clutter that you can't part ways with, but retirees without financial worries tend to avoid this expense. You could sell clutter you won't use, gift the best items to your loved ones, or donate them to charity.

Getting rid of clutter and downsizing could clear headspace, reduce costs, and provide some extra cash.

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Vacations during peak season

Retirees go on vacation, but the financially independent ones would often avoid trips during peak season. Going to a beach resort a week after Labor Day offers comfortable weather without the crowds.

They also save a lot of money on hotel visits since there is less demand. Plane tickets are also cheaper.

Bottom line

Retirees who don't stress about money don't always have large nest eggs. Being smart about which expenses to exclude lets you stretch your retirement dollars further.

You don't have to reduce the quality of your life as you enjoy retirement. These cost cuts often don't require meaningful sacrifices. Vacationing during the off-season instead of the peak season is a small adjustment that could save retirees thousands of dollars every year.

All of your small money habits add up and could shield you from unnecessary expenses. It's a valuable truth many retirees learn as they optimize their lives.

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