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8 Things People Over 60 Are Buying That Are Actually a Terrible Value

Many retirees and soon-to-be retirees make these purchases that are simply not worth the money. Are you guilty of any?

By Josh Koebert , Edited by Laura Hohenstein

Updated June 3, 2026

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As we age, we change. And as we change, so do our spending habits. When you turn 60, your spending habits tend to favor things like convenience and comfort. You may even tend to stick with familiar purchases just because they've always been there.

But, in a stage of life where seemingly every dollar counts, some purchases quietly seem far more expensive than they're worth. The issue isn't about cutting out enjoyment or embracing over-the-top frugality, but instead recognizing when your money goes toward things that no longer deliver value.

Here are some of the most common buys people over 60 make that often don't justify their cost, and how you can bring awareness to help avoid money mistakes.

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Brand new cars

Be honest: we all love that "new car smell." However, it's a fact that a brand new car will lose anywhere from 12.5 to 20% of its value within the first year alone.

For many people over 60, and especially for retirees who don't drive as much, paying more for the latest and greatest model may be costing you more. In reality, other options like a solid used vehicle, a certified pre-owned car, or keeping your current car, even, can drastically reduce your expenses.

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Pricey home renovations

In your 60s and as a retiree, you may be spending more time at home. This can sometimes translate into 'remodel temptation', and rooms like the kitchen and bathroom may be on your radar. Remodels can improve comfort, but high-end renovations don't always translate into meaningful value…especially if you're not planning to sell.

Fancy finishes, over-customized layouts, or chasing the latest trend can lead to expensive projects that don't improve your daily life. In many cases, simple updates to things like lighting, safer fixtures, or making minor repairs can deliver the most benefit at a fraction of the cost.

Premium cable packages you barely watch

You may be in the crowd that is paying for a cable bundle you rarely use. When you have add-ons like sports and movie channels (plus equipment fees), your cable bill can easily exceed $150 monthly. But in this day and age, streaming services can provide the same content (some even have live TV options) for far less. For Cable, loyalty discounts also tend to disappear over time, making those who have had cable long-term some of the highest-paying subscribers.

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Extended warranties that rarely pay off

When you purchase an expensive electronic or piece of technology, like major appliances, TVs, and laptops, retailers may push extra warranties. But despite this push, many of these plans will never end up being used.

Most products will either fail while still under the manufacturer's warranty or last well beyond the extended coverage period. And in many cases, the repair costs are lower than the warranty itself. For those over 60, especially, adding these expensive protections can offer very little value.

Timeshares and vacation membership programs

Timeshares and similar vacation membership programs are usually pitched as a cost-effective option for travel. But in reality, purchasers face rising annual maintenance fees, limited availability, and low (or nonexistent) resale values.

So, many find themselves stuck in these agreements, which can be a bummer, especially if your travel habits evolve. And for those 60 and older, timeshares can further reduce flexibility and potentially turn what was supposed to be a fun lifestyle purchase into a financial burden.

High-fee financial advisor

In the age of robo-advisors and rapidly advancing fintech, you may want to take a second look at your human financial advisor. Some financial advisors can provide custom, meaningful, and personal value to their senior clients. But others charge fees high enough to eat up returns, especially when those fees are tacked on top of mutual fund expenses.

For retirees who rely on fixed income, even a 1% to 2% annual fee can reduce portfolio growth. Good advice is valuable, of course, but it's important to understand exactly what you're paying for. You can consider lower-cost fiduciary or flat fee options to maybe achieve the same goal.

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The wrong Medicare plan

Sometimes it's easy to be a creature of habit, but maybe evaluate those habits when it comes to healthcare. Many people over 60 find themselves sticking with the same Medicare coverage, year after year. But premiums, prescription coverage, provider networks, and out-of-pocket costs can change annually.

Paying for a plan with unnecessary extras, or one that doesn't meet your needs (think things like specialists and prescriptions), can rack up costs over time. So, it's ever so important to review your options during open enrollment every year to uncover the best value.

Financially supporting your adult children

While it isn't necessarily a purchase, helping your adult children financially can be of tremendous value. As a parent, helping your adult children financially can feel natural or instinctual. This is especially the case during periods of transition or hardship. But unstructured or consistent support can strain your own retirement security.

It could cause you financial strain to routinely cover things like rent, debt payments, or lifestyle expenses. If you set clear boundaries and opt for the more occasional support, this could be more beneficial for your relationship while also safeguarding yourself financially.

Bottom line

Retirement spending works best when money is aligned with actual priorities, and aligning these priorities can help you lead a stress-free retirement.

The biggest purchases of terrible value aren't always blaringly obvious. A few unnecessary subscriptions here or overpriced services there may not seem significant at first glance. When you look over a decade of retirement, those costs can add up, eating into the funds that could be supporting you in your golden years.

Consider doing a yearly "value audit" instead of a strict budget review. Instead of asking "Can I afford this?" the better question is "Is this still improving my life enough to justify the cost?"

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