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8 Painless Ways to Downsize Your Lifestyle in Retirement

February 25, 2019

From the U.S. News & World Report website

It’s common to enter retirement with a prediction for your annual expenses, only to find you estimated low. Nearly two in five retirees spend more than they expected, according to a 2018 Global Atlantic Financial Group online survey. This can happen as you try out new activities, such as taking on new hobbies or traveling frequently. The uptick in free time might also lead to big-ticket ideas you hadn’t foreseen, like a home renovation project or new landscaping.

If you want to reduce your overall spending, the first step is often a shift in mindset. When it comes to adjusting routines, “change can be intimidating but worthwhile,” says Wade Rivest, owner of JDog Junk Removal & Hauling Westfield in Westfield, Massachusetts. “It’s the beginning of a new and exciting path.” Adopting a frugal lifestyle can help you stay on budget.

Follow these strategies to painlessly downsize your lifestyle during retirement.

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