Cutting Expenses to Have a Comfortable Retirement

I posted a few days ago about purchasing the Magic Jack to replace my current landline phone. I would only have paid $30/year and get to keep my current number. I was excited to receive the message that my number will be able to transport. However, the next day I received another message stating I had to separate my home phone and Internet service. My area does not do that. They have what is called "capped" in my area. Meaning they will not be able to get an installer to come out to separate the two services. I didn't want to lose the number I've had for the past nine and half years. Thus, I made the decision to return the Magic Jack. I may not get the whole refund, but hopefully half of it.

It has caused me to think of other areas in which I can cut back or pay more of so I can have a comfortable retirement. A few ideas I thought of:

1. Pay car loan and/or Student loans as quickly as possible. Currently paying a few extra dollars each month, toward the principal, from my part-time job(s) and cash surveys I've taken.

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2. Pay Credit Card bills.  Pay more than the minimum. My weakness because I love the cash back option.

3. Pay off mortgage before retirement. I refinanced a year ago from a 30 year loan to a 15 year loan. Interest rates at the moment are low, so you may get a great deal. I went from paying 5.75% to 3.75% for my mortgage.

4. Eliminate Landline phone. If you use your cell phone more often than your landline, then eliminate the landline. I continue to use my landline, so I'm looking at other ways to cut back.

5. Lower your plans for Cable/Satellite and cell phone services. If you are not at home very often, reduce the number of channels you receive. DISH has a great Welcome package for $14.99. If you are not using the Internet on your cell phone, then eliminate that cost.

6. Get a roommate If you are single, find a friend who is single and the two of you share expenses. If you are married and have an extra room, rent it out a few months out of the year. I reside with my twin sister and the savings I have by splitting the mortgage have helped me pay down many of my debts.


Remember in retirement you want your expenses low so you are not depleting your retirement funds (State retirement plan, 401k, 403b, Roth IRA, etc.) so quickly. Your retirement years can last 20 or more years.

What are other ways you are eliminating your expenses for a comfortable retirement? Please comment below.

Rhonda W.