5 Ways Seniors Are Throwing Away Money

MANAGE MONEY - SAVE MONEY
Last updated Aug. 22, 2023 | By FinanceBuzz Editors
senior couple piggy bank counting money

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If you're a senior, you could be throwing money out the window without even knowing it... and just a few small mistakes might be to blame. 

These mistakes — like not getting a home warranty or overpaying for car insurance — can go under the radar for months or years, drying up your savings like summer rain on a scorching sidewalk. 

But what if you could fix these problems easily, once and for all? It's possible, and most of these fixes can be started in minutes. It's time to stop throwing your money out the window!

Not diversifying your portfolio

Stock market volatility can be financially damaging for investors, especially as you near retirement. You could move your investments into a savings account, but have you seen interest rates lately? Another option to consider — diversify with gold.

Gold values are inversely correlated with the stock market and the dollar. When one goes down, the other usually goes up. If you want to protect your retirement funds, having diversified investments can help you weather market swings.

Gold Alliance is a reputable precious metals dealer that specializes in precious metals IRAs. They make it simple to transfer funds from your current retirement account (like a 401(k) or IRA) into a precious metal IRA — with no taxes or penalties.

Gold Alliance offers a free investors' guide to help you learn more about why gold and silver could be a smart choice for diversifying your portfolio, and how the process works. 

Get your free guide now

Not canceling your car insurance

We’ve got bad news. You could be wasting $500 every year on overpriced, second-rate car insurance. And you should probably cancel your existing insurance right now, because there’s something much better.

This new tool from FinanceBuzz can tell you if you’re overpaying for your car insurance in just a few clicks. We match drivers with companies that report saving drivers up to $500 or more per year when they save! Each driver’s savings will vary by driving history and how many discounts you’re eligible for. And once you try it out, you’ll never have to look for affordable insurance again because we find you the lowest rates that other companies can’t match.

Oh, and it’s also free. And come on — you can’t tell us you don’t want to save up to $500. To find out if you’re losing up to $500 or more a year, just enter your zip code here, answer a few questions and see if you’re overpaying. It takes less than 2 minutes.

See if you’re overpaying

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