Eight Ways Retirees Can Have Fun Despite Rising Prices
Higher prices are a bummer for everyone, but if you're a retiree or on a fixed income, how do you still have a good time without breaking the bank?


We’re all dealing with the shock of rising prices at the grocery store, the car dealership and the insurance company, among other places.
According to inflation data collected by the Bureau of Labor Statistics since 1929, the postwar year 1946 saw double-digit inflation. Since then, 1979 and 1980 are the latest years we have seen such an increase in inflation.
In June 2022, we hit an inflation rate of 9.1%, the highest in 40 years. Now, the rate is less than 3%. (You can explore inflation rates over the years at Investopedia.)

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Overall, prices seem to be up on everything, especially at the grocery store. Beyond buying in bulk, gardening and eating less, what can retirees do to offset the higher prices?
Here is how you can save money and still live the good life in retirement:
Entertain at home. Host a potluck or light lunch, coffee and treats and play games.
Don’t stop eating out. Meet friends for breakfast or coffee instead of dinner, or join a crew for happy hour and a snack. The point is to have a social life, perhaps experience something different and not cook. There are plenty of places to connect and get good food without spending a fortune.
Carpool. Those of us of a certain age remember the gas crisis of the ’70s. Happily, we don’t have the long lines at the gas pump this time, but the tricks from back then would work today — go on shopping trips and errands with a friend.
Shop for clothes at thrift stores or online. You can find high-quality clothing at sites like Poshmark and ThredUp. You can also sell clothing at those sites, or find a local consignment shop. Chances are, you have held on to a stylish bag or fabulous outfit you no longer wear. Tip: ’70s fashion is in.
Find discounts for your hobbies. Reader? Head to the library. Golfer? Many courses after a discount for a late start. Skier? Check out the discounts for seniors. Traveler? Find packages that may not include a tour guide but bundle accommodations and car and entrance fees at a deep discount. You can also check out the many sites that offer last-minute cruise deals.
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Take up a new hobby. Make time to learn a new hobby that may require less investment but use up more brain power and include social interaction.
Visit parks. There are adventures galore at state and national parks, many of which offer senior passes.
Join group activities for older adults. Check a community website or the library for activities geared toward older adults.
Another option to help you save some cash during economic hard times is to check in with your financial team. This may not cost you anything, as most folks already pay a quarterly asset undermanagement (AUM) fee through your investments.
Even if there is a cost, you could save money in the long run. For example, financial advisers can help you understand your options for withdrawing money from retirement accounts in a tax-efficient way or make suggestions that you have not thought about to deal with inflation’s impact on your portfolio.
You might consider consulting with your accountant now that the 2024 tax season is over to see how you could save money on taxes in 2025.
Finally, do not live in fear. Use those creative juices to come up with alternatives to a healthy and engaged lifestyle in your retirement.
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Christine “CD” Moriarty, CFP®, has been a freelancer all her life, first publishing a book at age 5 and a family newspaper by age 12. She has now graduated to writing regularly for MarketWatch, Next Avenue and for a host of magazines and papers, including Brown Brothers Harriman and SSAFARA international magazine. Ms. Moriarty has won the Certified Financial Planner® Best Consumer Award.
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