Retirement Retired Life

10 Things Retirees Buy and Almost Always Wish They Hadn't

Retirement isn't the time to splurge on new purchases, especially when you need to live on your savings for many years.

By Jenny Cohen , Edited by Amanda Machado

Updated April 20, 2026

Add Us On Google

Your daydreams about retirement may be getting closer to reality. Maybe you're planning to retire soon and travel, spend more time on your hobbies, or enjoy long visits with grandchildren.

But you also have to remember that retirement means you're on a fixed income now, and big purchases can hurt your long-term investment strategy.

So, before you start spending your retirement funds, stop throwing away money and see if any of your potential purchases are things you might regret.

Now Available: The Definitive Guide to Retirement Income

Many successful investors eventually reach the same moment. The saving is done, the portfolio is built, and the question quietly changes from how much can I grow this to how much can I take out? Get that second question wrong and decades of good investing can come apart in a handful of years.

That is exactly what The Definitive Guide to Retirement Income helps answer.¹ <p class="">Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. Guides are provided by Fisher Investments. The publisher may be compensated when readers request a guide.</p> It covers what your retirement could actually cost, which income sources are worth using, and the withdrawal math that decides whether the money lasts. It is free today from Fisher Investments. Read More Here ›

A second home

You may think buying a second home when you retire can be a great investment as well as a place to spend the summer or winter.

But a second home can cut a big hole in your retirement savings and cost you additional money for utilities, taxes, and maintenance.

And unless you buy a home in a major tourist area, for example, you likely won't be able to rely on additional income by renting it when you're not there.

Shopping for cheaper auto insurance? Enter your zip code here to get started.

A boat

There's a saying that the two happiest days of a boat owner's life are the day they buy a boat and the day they sell it.

Boating can be a great hobby, but a boat is an expensive purchase and costs additional money to maintain. You'll have to constantly spend money on things like fuel, maintenance, dry-docking, or a slip, among other expenses.

An expensive car

Is there a dream car that you've always wanted to own? It may not be a smart car owner move to make an expensive purchase like that.

In addition to the cost of the car itself, an expensive vehicle may have a higher price tag to maintain than a typical car.

You'll want to factor in routine maintenance when budgeting how much you need for the car. Luxury cars may also have higher insurance premiums and other related costs that could set you back.

Released: The Definitive Guide to Retirement Income (Sponsor)

Most people spend their entire working lives focusing on one thing: growing a pile of money. Then they retire and discover the skill they actually need is close to the opposite. Turning that pile into steady income, year after year, through good markets and bad, without ever running out. It may be the least discussed and most consequential transition in personal finance, and plenty of otherwise careful investors walk into it with no real plan.

That is exactly what The Definitive Guide to Retirement Income helps answer.¹ <p class="">Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. Guides are provided by Fisher Investments. The publisher may be compensated when readers request a guide.</p> It is a free guide from Fisher Investments covering what your retirement will really cost, where the cash flow should come from, and how much you can safely withdraw each year. Learn More Here ›

High-end travel

You may be excited to have more free time for traveling around the country or even around the world.

But your luxury accommodations are going to cost extra cash that will come out of your retirement savings. Instead, consider downgrading the extra luxury and staying in more affordable hotels or taking less expensive trips.

You also may want to look into the best travel credit cards that can earn you extra points or perks for your trips.

Upgrading your current home

Now that you're retired and spending more time at home, you may think it's time to gut your kitchen, build that addition on the back of your home, and redo your bathrooms.

But before you do a home makeover, remember that you're living on a fixed income now. Perhaps you should focus on one project at a time and see how much you actually have to spend on it before you move on to the next one.

Resort living

Your ideal retirement might be living in a retirement community in a warm climate by the beach with all the amenities you could ever want.

The novelty of resort living with other people your age may wear off after you've been there for a few years.

A clubhouse, gym, golf course, pickleball courts, and swimming pools are wonderful facilities for an active lifestyle, but you end up paying a pretty penny for them, which really adds up over time.

Retirement News: Almost 80% of Americans fear a retirement age increase — here’s the real reason why

Online shopping

Leisure time at home may mean you have more time to shop online for various items. You can also tune in to shopping channels on your television to see the latest and greatest things to buy.

But you probably don't need those purchases, and buying too many little things at once can add up. Instead, set a spending limit for yourself each month as part of your budget and make sure you stick to it to save money shopping.

Shopping because you're retired and bored may lead to financial trouble. It's better to volunteer with one of the many organizations that could use your help.

Life insurance

Life insurance is necessary when your family is young; they would need money to cover expenses if something happened to them.

However, now may be the time to reevaluate your life insurance policy when you no longer have a mortgage to pay or dependents who rely on your income.

If you're still concerned about expenses when you're gone, you can downsize to a smaller policy that can help your spouse out if something happens to you.

Upsizing to a new home

Instead of moving to another city or state with resort living, you may decide to stay in your current area and buy your dream home with plenty of features and extra space.

But a home with more space and fancy features than your current home may cost more, which will have to come out of your retirement savings.

You'll also have to factor in higher monthly expenses for heat and air-conditioning and landscape maintenance.

Get instant access to hundreds of discounts

Over 50? Join AARP today— because if you’re not a member you could be missing out on huge perks like discounts on travel, dining, and even prescriptions.

Get 25% off membership — just $15 for your first year with auto-renewal — and a free gift if you join today.

Become an AARP member now

Electronics

You may decide that if you're spending time at home, you're going to need a bigger television, a new surround-sound system, a faster computer, or a better smartphone.

Before you spend all your cash on electronics, consider if you really need that item or if it may be outdated quickly. When you do decide it's time to upgrade your TV or electronics, be sure to research the product and find the best deal.

Bottom line

You may have met your goal to retire, but remember that the chunk of cash for retirement needs to last you for decades.

If you want to enjoy a stress-free retirement, be prudent with your spending and think hard about whether you want to spend your cash on certain purchases before you withdraw the money.

More from FinanceBuzz: