Society can often portray our senior years as a time when we slow down and make life more relaxed. It can also focus on the limitations of older people rather than the benefits of life after retirement. We take a look at 21 perks of being a senior beyond early bird dinners and discounted public transport.
The Time Gift
Many people look forward to the freedom that retirement brings, with the ability to get up later a major benefit. Not being tied to a strict routine is the ultimate gift for seniors, doing what they want when they want.
Travel on Your Terms
One major perk of being a senior is that you can take a vacation whenever you want to. Traveling outside of school holidays means cheaper vacations and less crowded resorts to enjoy your downtime.
Volunteering
Retiring doesn’t have to mean sitting at home on your own all day. There are lots of opportunities to help your local community. Urban Institute estimates that 6 in 10 over-55s dedicate time to volunteering. Volunteering offers social connection, a sense of purpose, and a chance to give back to the community.
College Courses
If you’ve always wanted to go back to school to study but work gets in the way, the benefit of being a senior is that you finally get to do it. Many universities offer discounted or even free courses for seniors, or there’s an array of classes and workshops where people can learn new languages, creative writing, and crafts, among other things.
Store Discounts
Many stores, such as Kohls and Walgreens, offer senior discounts, often up to 20%. While it may not seem much, people who regularly shop in certain stores can save enough to treat themselves to a nice meal out at the end of the month.
Discounted Hotels
Hotels often offer special discounts for seniors, particularly on low-occupancy days. Marriott Hotels have a dedicated discount rate for patrons over 62 as long as proof of age is provided when booking.
Discounted Food
In addition to store and hotel discounts, seniors can enjoy regular discounts at dining establishments such as IHop and Dennys. On quieter days, local independent restaurants also offer senior discounts.
Rail Discount
Retirement is a great time to explore the country by train at a reduced price. Amtrak offers a 10% discount on most fares across their network, which includes over 500 destinations in 46 states.
Cheap Car Hire
Senior drivers can enjoy savings of up to 20% off base rates on Hertz rental cars. Book your rental using your designated discount code to unlock this discount, and then explore.
Fitness Freebies
Many gyms offer senior discounts on memberships, which can be expensive for everyone else. To help seniors stay active and healthy, gyms often put on group exercise classes tailored to various fitness levels.
Explore the Outdoors
For those who love hiking, biking, or nature walks, retirees can enjoy exploring the 62 National Parks for a $20 annual pass or a $80 lifetime pass. The pass also gives seniors access to thousands of 2,000 recreation sites.
Discounted Movie Tickets
Retirement allows you to watch movies in the middle of the day while everyone else works hard at the office. To rub salt into the wounds, seniors can get a discount from AMC Theaters, who offer perks for those over 60.
Tax Breaks
Seniors usually have a higher standard tax deduction than younger taxpayers, which can significantly reduce their taxable income. It is best to consult a tax expert to ensure you take full advantage of these benefits.
Social Security Benefits
Social Security benefits, which some seniors are entitled to, are generally not taxed at the federal level. There may, however, be some taxation on benefits at the state level, depending on your income and state of residence.
Reverse Mortgages
Reverse mortgages allow seniors to access equity in their homes. Any mortgage changes should be discussed with a financial expert to ensure they are your best option.
Veterans Discount
For seniors who are veterans, there are lots of stores and services that offer discounts. You will need to sign up to be a VetRewards member and search for offers that are local to you.
Discount on Groceries
Fred Meyer offers seniors a 10% discount on select items on the first Tuesday of each month. This discount can be combined with other offers for even greater savings.
Bargain Cruise
Royal Caribbean offers people over 55 discounts on their cruise packages. The discounts will be on select sailings at certain times of the year, but as seniors have much more free time, you should be able to find a suitable trip.
Airline Discounts
For those who like to fly instead of sail, there are discounts to be found on airlines, such as Delta, which offer deals on selected flights for those over 65. The great thing about Delta is that you can find them by calling them up rather than going online, which some seniors aren’t comfortable with.
Cell Phone Reductions
Some cell phone companies offer special packages for seniors. One example is T Mobile, which offers over 55s, starting at $45 for one line and offering unlimited text, talk, and phone data.
Prime Discount
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