Goodbye 9-to-5, hello freedom! But with that freedom comes a fixed income, and for many retirees, that means getting creative with . GOBankingRates caught up with Kevin G., a 68-year-old retiree living on a $3,000 monthly budget, to find out which bills he’s managed to kick to the curb since leaving the workforce.
Here’s the scoop on seven expenses Kevin no longer has to worry about, and . Earning passive income doesn't need to be difficult. Remember the days of filling up your gas tank twice a week and cursing at traffic? Kevin sure doesn’t miss them.
“I used to burn through $250 a month just getting to and from work,” he shared. “Now, my car’s basically a driveway ornament. I fill up maybe once a month, and that’s usually for grocery runs and to see my kid, who lives 5 miles away.
” Suits and ties might look sharp, but they’re about as comfortable as a suit of armor. For Kevin, retiring meant ditching the monkey suit for good. “I laugh now thinking of the silly stuff I spent money on,” he said.
“The ties! So many ties! Now my son has no idea what to get me for gifts anymore but that’s fine – I’m downsizing.” Like many with office jobs, Kevin’s company relied on him working late hours from home sometimes but didn’t provide the necessary equipment. “During busier quarters, I was burning through my own laptop, internet, everything,” he explained.
“Now, my 12th generation iPhone is really all I need.” It’s cliche for a reason — t.