Retirement Retirement Planning

9 Things Retirees Don’t Realize They're Overpaying For

Simple ways retirees can stop overspending and start saving more money today.

By Holly Humbert

Edited by Laura Ratliff

Updated April 19, 2025

Retirement should be a time to relax, travel, and enjoy life — not stress about finances. But here's the thing: Many retirees pay way more than they need to without even realizing it.

You're probably already savvy about ways to save money on groceries, but there are many other areas where you might be overspending or missing out on discounts.

Here are nine common expenses retirees often overpay for.

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Prescriptions

Many pharmacies offer senior medication discounts, but retirees often miss these opportunities. Make sure to ask about the cash pay price as well. Sometimes prescriptions are cheaper when you don't go through your insurance.

Some companies also offer discount prescription cards that can be used with other discounts to help you save money on prescriptions.

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Cell phone plans

Are you overpaying for your cell service? You might be if you are a senior and only need basic cell service. Some mobile carriers offer discounted rates for seniors, yet many retirees continue to pay full price. You may also be paying for a plan with more data or services you don't need.

Some carriers may offer free streaming services or movie ticket discounts, which are included in your plan. However, if you aren't using those perks, you don't need to pay for a plan with them.

Internet services

Unfortunately, many senior discounts are not automatically granted; you must request them. Certain internet providers offer lower rates for seniors, but these discounts are not always advertised — you might have to call and request the special pricing.

You may also be paying for faster internet than you need. Contact your Internet service provider to find out what discounts are available.

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Car insurance

How often are you shopping around for car insurance? If you just let your policy automatically renew each year, you may be paying more than you need to.

Retirees may qualify for discounts on car insurance due to their age and safe driving habits, but they might not inquire about them.

Gym memberships

Many fitness centers offer discounted memberships for seniors, which you may not know about. Each gym location and franchise may provide varying discounts, so check multiple places throughout your area to find the best deal.

If you are 65 or older, certain Medicare plans offer seniors a free gym membership as part of their plan benefits. Check your specific plans for details and coverage.

Entertainment and movie tickets

Retirees often qualify for reduced-price tickets for movies, concerts, and museum admissions. For venues that offer reduced pricing all the time, you'll probably find senior pricing as one of the regular ticket options.

Some companies have designated "Senior Days" where discounts are only available during certain days of the week or specific times of the day. If you don't see reduced ticket pricing when you go to buy your ticket, you'll likely need to ask an employee about the available discount options for retirees.

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

Travel and hotel stays

Senior discounts are often available for hotels, airlines, and rental cars, but it's easy to forget the savings when booking.

Hotel discounts can range from 5–20%, which could make a big difference in the cost of your stay. Flight savings are a little harder to find, but some airlines offer senior discounts. You may have to call the customer service line to book your tickets to take advantage of savings for seniors. If you need to rent a car, senior discounts can be up to 30% depending on your chosen company.

Restaurants

Senior discounts vary widely at restaurants, but you can often score up to a 15% discount.

Even if the restaurant doesn't advertise a senior discount, you should still ask. Deals will likely vary by location, but your cashier or server should be able to tell you what savings are available.

Oil changes

Every few thousand miles, your car needs its oil replaced. If you are a retiree, you might be missing out on savings when you get your oil changed. Depending on the location and the company, you could save up to 15% on this routine car maintenance.

You will likely have to ask for the discount every time you bring your car in, but that savings might be worth the minor inconvenience.

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