Retired Life, Think Frugally!
My Hub and I retired early(ish). He at 63 and me at age 58 due to a lay off and couldn't find work. He is thrilled and I am still adjusting because it wasn't my decision to leave the workforce.My suggestions for you would be to make sure your credit cards are paid off each month.
I just want to say I have read all the negatives on the financial reasons to NOT retire before full retirement benefits from Social Security. We took our SS checks at age 63 and 62 1/2 and never looked back. However, you will find that when you are eligible for Medicare and wish to buy supplements, it will bite into your income. This came as a bit of a surprise to us when Hub started Medicare in May (2017). Each State has different prices for the supplements.
Get a cash back credit card such as the Costco Visa. I charge as much as I can during the year on my Visa and pay it off each month. You have to pay a $55 membership fee (for Costco) but you earn bonus bucks each month and at the end of the year get a nice check. I got a check for $415 this year.
Call your car insurance company and see if they can lower your insurance now that you are not driving so many miles per year. We had also saved a lot by just changing insurance companies before retirement.
Look at every single bill you have and see if you can eliminate it, combine it or lower it.
Being frugal can be fun! I go to the grocery store and hunt for bargains and if they have day old bread, I buy it and make croutons! My grocery store has 'Senior' day on Tuesdays and Seniors get 7% off their groceries. I also do a lot of shopping on line and look for coupon codes or buy enough to get free shipping!
I am on Obamacare and get a subsidy so I cannot withdraw too much from IRA's as it adds to income and I will lose the subsidy. So I withdraw from savings which is not considered income. Will have to do that for 15 more months till eligible for Medicare. Gotta keep our income low so we don't go over the financial cliff and lose the subsidy.