A Retiree's Guide to Thriving in a Recession: Stay Smart, Calm, and Unshaken

Some economists predict that we could have a recession during the next few years.  Whether or not they are correct that one could happen soon, one thing is certain ... if you live long enough it is very likely that there will be an economic downturn sometime during your retirement years.  As a result, I appreciated receiving this freelance post about ways retirees can survive a recession while remaining smart, calm and unshaken.  

Retirees face a unique balancing act in recessionary times: protecting their nest egg while preserving quality of life. But downturns don’t have to mean doom. With the right mindset and adaptive strategies, a recession can become a launchpad for financial clarity, lifestyle simplification, and even renewal.

Action Items

Below are a list of things you should start doing the minute you realize that your income may not be enough to cover your current lifestyle. Nearly all of us can find ways to reduce our expenses and preserve our assets. Here are some suggestions:

• Preserve your capital by reducing unnecessary withdrawals
  
• Diversify income through part-time work, reverse mortgages, or annuities
  
• Cut stealth costs like hidden fees and automatic renewals
  
• Use protection tools, such as customizable warranties, to guard against unexpected repair costs
  
• Stay active and healthy to reduce possible long-term care expenses
  
• Reassess lifestyle goals and budget priorities regularly so your income can support your goals
  

Budget Streamlining for Retirees

In addition to the suggestions above, you will want to go through your budget carefully to see where you can tighten your belt.

• Audit recurring expenses and decide if any of them can be reduced
  
• Review withdrawal rates and align with a 3–4% rule for your annual withdrawals
  
• Adjust your portfolio to match current risk tolerance
  
• Bundle services to save on subscriptions and utilities
  
• Consider a home warranty to offset major home repair costs
  
• Negotiate medical bills or ask for senior discounts
  
• Eliminate high-interest debt, especially credit cards
  

Frequently Asked Questions

Should I move investments to cash during a recession?
Not necessarily. Timing the market is risky. It’s more effective to maintain a diversified mix and keep 1–2 years of cash or near-cash reserves.

Are annuities worth considering now?
Yes, for some people. Fixed indexed or immediate annuities can offer predictable income in volatile markets. Speak with a fiduciary and look at all your options for maximizing the income you can get from your savings.

What’s the safest place for money right now?
Options like I-Bonds, high-yield savings accounts, and short-term Treasury ladders protect capital while keeping pace with inflation. If you put money into the stock market, consider buying ETFs, or Exchange Traded Funds, that are conservative and contain a large number of different stocks, so you are not dependent on just two or three different stock investments.

Can retirees still work part-time or remotely?
Absolutely. Platforms like FlexJobs and TaskRabbit are great places to explore flexible work. You may also be able to find part-time jobs, teach lessons in dance or music, tutor children who need help with reading or math, or consult in the business where you worked in the past.

Low-Cost Actions With High Impact

Action	Time Required	Cost Impact	Long-Term Benefit
Cancel unused subscriptions	20 minutes	Moderate	Clarifies and reduces budget
Install LED bulbs throughout home	1–2 hours	Low	Reduces energy bills
Review insurance policies	30 minutes	Moderate	Avoids coverage gaps
Cook in bulk and freeze meals	2 hours	Moderate	Prevents impulse spending
Digitize billing to avoid late fees	1 hour	Low	Ensures timely payments

Financial Protection During Home Emergencies

Unexpected expenses from appliance failures or system breakdowns can destabilize a retiree’s budget. To reduce that risk, some homeowners opt for a customizable home warranty, which covers repair or replacement of major systems and appliances. These annual service plans are adjustable based on your needs and often include add-ons that help manage repair costs from normal wear and tear. If you don't do this, consider creating a special savings account for home repairs, and make deposits into the account regularly.

Seven Tactics Worth Trying

You may also want to try other ways to save money and increase your income.  All of these may not work for you, but they could make life easier if you are able to use them.

1. Barter services or skills with neighbors. See if you can join a Buy Nothing group in your area.
   
2. Start a small backyard coop for egg production
   
3. Use benefit-checking tools like BenefitsCheckUp. You may be eligible for government aid programs you did not know about.
   
4. Replace paid reading services with Libby, so you can check out free ebooks from the library.
   
5. Sell unused items on Mercari or other online sites
   
6. Find senior-friendly courses or events through Oasis. They can help keep your brain active and healthy.
   
7. Use grocery discount tools like Ibotta  
   

Why Some Retirees Bounce Back Faster

It’s not luck. It’s structural. Resilient retirees tend to anticipate downturns, and they build shock absorbers into their budgets. In this way they avoid the recurring strain of financial downturns. They maintain flexibility in their plans so they can be prepared for anything.

Rethinking Priorities in a Downturn

Economic slowdowns offer a natural invitation to reevaluate your lifestyle. Is your spending aligned with what brings you joy or security? Can you swap expensive habits for enriching ones? Recessions provide space to reflect, reorganize, and redesign routines.

Final Thoughts

Recessions can test your financial system — or refine it. Those who thrive don’t wait for certainty; they prepare for volatility. By tightening the essentials, fortifying their risk zones, and leaning into flexible income or spending strategies, retirees can turn economic tension into personal resilience.

Post by Hal Salazar  

Photo credit: Freepik

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Enjoyed this post? Never miss out on future posts by following us.  You will receive two to three monthly emails containing the most current post.  I do NOT send out advertising emails, and I do NOT sell your email address.  

Disclosure: This blog may contain affiliate links. If you decide to make a purchase from a relevant Google or Amazon ad, I'll make a small commission at no extra cost to you. It simply helps me keep this retirement blog operating.

If you are interested in learning more about common issues as we age, financial planning, Social Security, Medicare, where to retire, common medical issues as you age, travel and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional helpful articles.

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Hunting in Retirement: A Guide to Planning Your First Trip

Although the author of this blog is a non-hunter, I realize that retirees are interested in a variety of activities once they no longer have to work a full time job in their 60s, 70s and older.  They may be looking forward to spending more time in their favorite pursuits, or learn new ones.  This includes hunting, fishing, camping, boating and similar activities.  As a result, even though this is not a typical post for this blog, we were pleased to accept this outside submission for the benefit of those readers who might be interested in exploring these activities and updating their skills so they can do so safely. We were particularly encouraged that the article emphasizes safety and licensing, since safety is so important to everything we do in retirement. Whether you hunted a long time ago, and your skills are a bit rusty, or you have decided to try it for the first time, this article is for you.

Introduction to "Hunting in Retirement" 

Are you looking for a new outdoor retirement activity? Gain the satisfaction of learning a timeless survival skill with the thrill of hunting. This adventure offers a unique way to stay active, connect with nature, and create lasting memories. Use this guide to plan your first hunting trip and see how simple it really is.

Getting Started with Safety and Licensing

Before you head out, your first step is to educate yourself. Every state has some type of hunter education requirements, which typically cover ethics, firearm safety, and wildlife conservation. Many states have courses available online that build your confidence and knowledge and include a field day or skills test. Do not try to rush into this sport, or skip the training.  It could be dangerous for you and others who may be hunting at the same time.

Once you complete your safety course, you can get your hunting license. You can usually buy these online or at local sporting goods stores. Be sure to check the specific regulations for the area and season you plan to hunt in.  If it has been a few years since the last time you hunted, local rules and regulations may have changed.

Gun Safety Begins at Home

If you own hunting weapons of any kind, it is important to remember to keep them safely locked up, especially if you ever have visiting grandchildren, nieces, nephews and other younger relatives.  You would not want them to be accidentally harmed by handling an unfamiliar weapon.  Young children are not the only ones who could be at risk.  Teenagers and young adults who are not familiar with your weapons could also be unintentionally harmed.

Purchase a gun safe to store your weapons and, if you are purchasing new guns, inquire about having trigger locks installed.  Anything you can do to keep visitors safe will be worth the extra effort.

Choosing Your First Hunting Adventure

Now that you have your license, decide what kind of hunting you want to do. You could pursue anything from deer in the woods to waterfowl by the lake. Think about the type of experience you are comfortable with and what game is common in your area, or a destination you'd like to visit.

Many beginners find it helpful to start with a professional. Understanding the differences between hunting guides and hunting outfitters helps you plan a successful first trip. An outfitter provides lodging and gear, while a guide offers expert knowledge of the terrain and animal behavior, making your first experience safe and enjoyable.  A hunting guide should also be able to help you avoid over-exerting yourself when you first begin hunting, and reduce the risk of injury or getting lost.

Gearing Up for the Trip

You don't need the most expensive gear to start. Focus on essentials, like comfortable, weather-appropriate clothing, sturdy boots, and the right safety equipment. If you use a guide or outfitter, they provide specialized equipment, which saves you money upfront. Always prioritize comfort and safety when selecting your gear.

Take advantage of modern technology to keep you safe, too. You may want to consider getting a satellite phone or emergency locator, so you can contact the outside world and be found more easily if you should become lost or injured.  Doing this will make life easier for first responders who may be called upon to assist.

Don't forget to take along an emergency supply of any medications you might need while away from home.  You don't want to spoil your experience by forgetting important medications for allergies, asthma, diabetes or your heart.

Take the First Step on Your Adventure

Planning your first hunting trip is an exciting journey. It’s a chance to challenge yourself, enjoy the great outdoors, and embrace a new passion. Start today by researching hunter safety courses in your state and figure out what exactly you want to hunt. Fill your retirement years with activities that build your skills and keep you on your toes.  Spending time in nature, walking through the woods, can also be great exercise. 

Don't Forget to Consider a Photo Hunt

If you want to spend time outdoors looking for wild animals, but do not have a desire to eat the meat or have any other reason to kill them, you may want to consider a photo adventure.  A hunting guide can help you with this kind of adventure, as well as the more traditional types of hunts. You can set a goal of capturing unique photos of a wide variety of game animals, such as moose, elk, bison, wild turkeys, boar, mountain lions, bobcats and skunks, without harming them.  You will have all the exercise and thrill you might have gotten by hunting with weapons, but without endangering any animals and without the need to field clean them and haul their dead carcasses back to your car. Many people now go on photo safaris to Africa.  You can do the same in other parts of the world, too, including the U.S.

If you follow these suggestions, hunting and similar activities are sports which you can enjoy for many years after you retire, giving you an opportunity to get fresh air, enjoy nature, and stay healthy.

Post and Photo credit: Logical Positions

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Remodeling a Home for Senior Care: What to Know

Do you want to live in your own home but make it easier and more functional for senior living? Below we will show you how to remodel a home for senior care.

More seniors are choosing to age in place rather than move to assisted living, making home remodeling crucial for maintaining their independence, safety, and comfort. Strategic modifications can create a senior-friendly environment that supports changing needs, reduces the risk of accidents, and enhances daily living, all while preserving the familiarity of home and increasing its value. If you’re a baby boomer looking to remodel your home for senior care, our guide below breaks down what you need to know.

Bathroom Safety Updates

A good place to start with a senior-focused remodeling project is the bathroom, as it is a high-risk area for many seniors. Installing grab bars near toilets and in shower areas provides crucial support during transfers and movement. The grab bars can also provide peace of mind when a senior feels unstable while taking a shower. 

Walk-in showers eliminate the dangerous step-over barrier that traditional tubs create, which also reduces the risk of a fall. Installing a shower seat and a handheld shower head will make bathing safer and more comfortable. Being able to sit down while taking a shower is safer and more relaxing for many seniors.

Kitchen Adaptations

Next, the kitchen is another area in the home which requires some adjustments to make it a better fit for a senior’s lifestyle. If possible, adjustable countertops let them work at a comfortable height, whether standing or sitting. Pull-out drawers in lower cabinets eliminate the need to bend and reach into deep spaces.

Installing lever-style handles on cabinets and drawers requires less grip strength than traditional knobs. Under-cabinet lighting improves visibility during food preparation, while side-by-side refrigerators make it easier to access both fresh and frozen items.

Improved Lighting Solutions

Adequate lighting prevents accidents and reduces eye strain. Replace standard bulbs with brighter LED options which provide clear, consistent lighting throughout the home. Motion-sensor lights in hallways, bathrooms, and entryways eliminate the need to fumble for switches in the dark. Don't forget nightlights in the bathroom, because it is not unusual for seniors to need to use the toilet several times during the night.

Add under-cabinet lighting in work areas and consider installing dimmer switches which will let you adjust the brightness levels depending on the time of day and activity. Eliminate shadows and dark corners where falls are common.

Flooring Safety Measures

Another thing to know about remodeling a home for senior care is the flooring. Non-slip flooring materials significantly reduce the risk of falls. Replace smooth surfaces, such as tile or hardwood, with textured alternatives like carpeting, which provide better traction. Carpeting may also buffer a fall better than a tile floor.  Consider cushioned flooring materials, like good quality padding under carpets, in areas where falls might occur. This will help reduce injury severity.

Ensure smooth transitions between different flooring types by installing proper thresholds so the senior does not trip over the threshold.  Eliminating small throw rugs will also help reduce slipping, tripping and falls.

Guest Living Space

As the senior's needs change, you might consider having an in-home caretaker. Planning for this in advance can make the transition smoother. Consider whether your home would benefit from an additional dwelling unit (ADU) or a room addition.

A dedicated guest space ensures comfort and privacy for both the caretaker and the homeowner, allowing for them to receive necessary support while maintaining personal boundaries. A well-designed caretaker suite can be a valuable addition, providing independence for the caretaker and peace of mind for the family.

Creating Your Ideal Senior-Friendly Home

Remodeling your home transforms your living space into a safe, comfortable environment that supports independent living. Start planning these changes early in your retirement so your home grows with your changing needs, allowing you to enjoy your golden years in the comfort and familiarity of your own space.

Post and Photo credit: Logical Positions

Support this blog by checking out Deborah Dian's video reviews of Amazon products (Ad) in her Amazon storefront.  You'll find hundreds of favorite health and cosmetic products, children's toys, clothing items, books, jewelry, groceries and gifts.  Check out these personal product reviews, watch the ones that interest you, and safely buy the items you like directly through Amazon! 

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Enjoyed this post? Never miss out on future posts by following us.  You will receive two to three monthly emails containing the most current post.  I do NOT send out advertising emails, and I do NOT sell your email address.  

Disclosure: This blog may contain affiliate links. If you decide to make a purchase from a relevant Google or Amazon ad, I'll make a small commission at no extra cost to you. It simply helps me keep this retirement blog operating.

If you are interested in learning more about common issues as we age, financial planning, Social Security, Medicare, where to retire, common medical issues as you age, travel and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional helpful articles.

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Flipping into Retirement: How Seniors Can Build Wealth and Purpose Through Real Estate

 

House flipping isn’t just for young entrepreneurs. Seniors are entering this dynamic real estate niche, leveraging life experience, savings, and time flexibility to create profitable ventures. Whether you’re seeking a new challenge or a source of income post-retirement, house flipping can offer both purpose and profit.

 

Summary

Seniors can thrive in house flipping by combining practical experience with new skills in finance, renovation, and marketing. Begin with smaller projects, research your market carefully, and build a trustworthy network of professionals. Consider earning an online business degree to strengthen your understanding of accounting, management, and communication—all essential for running a profitable real estate venture.

 

Lifelong Learning Meets Real Estate Success

Returning to school can be a transformative move for older adults interested in flipping houses. By earning an online business degree, seniors can strengthen their understanding of accounting, management, and communication—all essential for running a successful real estate venture. Coursework in accounting, business, communications, and management equips you with vital operational skills. Online degree programs also make it easy to balance your coursework with ongoing real estate projects.

 

Why Seniors Are Perfect for House Flipping

Seniors often have advantages such as financial stability, extensive life experience, and strong networks. These attributes make them ideal candidates for real estate investment. They also tend to have patience, a quality that’s crucial when navigating market shifts or renovation setbacks.

 

How-To: Getting Started in House Flipping

1. Research the Market: Understand local property trends using sites like Realtor.com.
   
2. Budget Wisely: Factor in renovation costs, permits, taxes, and resale value.
   
3. Build a Team: Work with contractors, realtors, and home inspectors you trust.
   
4. Start Small: Flip one property to gain experience before expanding.
   
5. Market Smartly: Use social platforms and real estate listing services like Redfin to attract buyers.
   

 

Checklist: Steps for Senior House Flippers

Before Buying:

• Evaluate neighborhood growth potential
  
• Get pre-approved for financing
  
• Estimate renovation and resale costs
  

During Renovation:

• Hire licensed contractors
  
• Keep track of expenses in a budget spreadsheet
  
• Prioritize updates that increase value (kitchens, bathrooms)
  

Before Selling:

• Stage the home professionally
  
• Review offers with your agent
  
• Understand capital gains tax implications
  

For further preparation, check out HUD home buying resources.

 

Key Strategies for Long-Term Success

• Diversify Investments: Don’t put all funds into one property.
  
• Stay Educated: Attend local real estate workshops and online webinars.
  
• Use Technology: Platforms like HomeAdvisor connect you with reliable contractors.
  
• Network Constantly: Engage with other investors and professionals on LinkedIn.
  

 

Quick Reference Table: Comparing Funding Options

Funding Option	Pros	Cons	Ideal For
Home Equity Loan	Lower interest rates	Risk of foreclosure	Homeowners with equity
Private Investors	Flexible terms	Shared profits	Seniors with networks
Hard Money Loan	Quick approval	High interest	Fast-moving opportunities
Retirement Fund Rollover	Access existing savings	Tax implications	Those with large retirement accounts

Featured Resource

If you’re looking to simplify home renovation management, Buildertrend offers tools for scheduling, budgeting, and tracking projects efficiently—ideal for seniors managing multiple properties.

 

Glossary

• ARV (After Repair Value): The estimated property value after renovations.
  
• ROI (Return on Investment): The percentage of profit compared to costs.
  
• Hard Money Loan: Short-term loan based on property value rather than credit score.
  
• Flipping: Buying, renovating, and reselling a property for profit.
  
• Capital Gains Tax: Tax applied to profits from selling assets like real estate.
  

 

FAQs

Q1: Is house flipping risky for seniors?
Yes, but with research and planning, risks can be minimized through conservative investments and professional guidance.

Q2: Can I flip houses with limited savings?
Absolutely. Consider partnerships, private investors, or crowdfunding platforms for financing.

Q3: What’s a realistic profit margin?
A 10–20% margin after all expenses is considered healthy for most markets.

Q4: How long does a typical flip take?
Most flips take between 3 to 9 months, depending on the scope of renovations.

 

For seniors, house flipping offers not only financial potential but also personal fulfillment and intellectual engagement. By combining practical real estate strategies with ongoing learning and careful planning, older adults can thrive in this rewarding business well into their later years.

Post and Photo credit: by Hal Salazar / Photo from FreePik

Support this blog by checking out Deborah Dian's video reviews of Amazon products (Ad) in her Amazon storefront.  You'll find hundreds of favorite health and cosmetic products, children's toys, clothing items, books, jewelry, groceries and gifts.  Check out these personal product reviews, watch the ones that interest you, and safely buy the items you like directly through Amazon! 

Here's the link:

https://www.amazon.com/shop/deborahdian-favoriteproductsvideosandblogs

Enjoyed this post? Never miss out on future posts by following us.  You will receive two to three monthly emails containing the most current post.  I do NOT send out advertising emails, and I do NOT sell your email address.  

Disclosure: This blog may contain affiliate links. If you decide to make a purchase from a relevant Google or Amazon ad, I'll make a small commission at no extra cost to you. It simply helps me keep this retirement blog operating.

If you are interested in learning more about common issues as we age, financial planning, Social Security, Medicare, where to retire, common medical issues as you age, travel and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional helpful articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com