9 Ways to Retire Early on Less Money

8) Rent Instead of Buying

When you started working, one of the first things you probably did was buy a house. When you retire, it may be time to consider selling your house and renting something smaller. Renting will save you money and lower your overall expenses. Plus, you won’t have to worry about fixing things that go wrong in your house—your landlord will be responsible for that. Renting will also give you flexibility. If you decide you want to go somewhere else after a year, you can quickly pack up and move to a new location. You’ll also be able to easily follow your kids if they decide to move to a new area. For many retirees, renting is a good choice. You’ll save money, and you’ll get the flexibility to go where you’d like.