1. Ignoring senior discount It’s a mystery why anyone would pay more than they need to, but retirees do just that when they ignore senior discounts.

2. Buying unneeded insurance During a person’s working years, disability insurance can ensure someone has the cash needed to pay bills if they become sick or injured and can’t hold down a job.

3. Supporting grown children financially Parents sometimes spend a lot of money to support their adult children. That’s money that retirees, particularly those with meager savings, really can’t afford to spend.

4. Maintaining two car Two cars are often a necessity for households in which two partners work. However, retirees who have more flexible schedules may be able to easily get by with a single vehicle.

5. Refusing to downsize More than one-third of spending in households led by someone age 65 or older goes to keeping a roof over everyone’s head

6. Insisting on brand-name medication Medications are one of the items you should always buy as a generic, regardless of whether you’re a retiree.

7. Donating to every charity that call Many retirees have big hearts and are quick to open their checkbooks whenever approached about a good cause.

8. Withdrawing from retirement accounts in a down market The stock market wasn’t pretty in 2022. The only thing worse than watching the balance in your retirement fund drop is withdrawing money to lock in those losse

9. Investing too conservatively Retirement can last a long time — 30 years or more for some people. Keeping your retirement funds in cash or a similar “safe investment” could backfire if the value doesn’t keep pace with inflation.

10. Ignoring their health Poor health doesn’t just affect your quality of life; it can cost you a significant amount of money as well.