8 Retirement Purchases Boomers Should Never Make

Overpriced Vacation

There’s nothing wrong with going on occasional trips, or even living overseas. But you have to ensure that your vacation spending falls within your budget. 

Extravagant Gift

Many retirees enjoy helping family and friends and are generous with their money. But you'll deplete your savings if you give expensive gifts to everyone you know.


Retirees may find timeshares appealing. They promise the freedom to vacation in a specific location for a few weeks or a month each year.

Excess Life Insurance

If you don't have life insurance and have dependents, it may be worth it. But most retirees have grown children and a paid-off mortgage, making life insurance optional.

Cashless Discretionary Purchases

Most retirees live on Social Security and pensions.Avoid this in retirement at all costs. For fixed-income people, debt can derail even the best financial plans. 

Medical Services Outside Network

You can expect higher medical costs after retirement. Spending more than necessary is unnecessary.

Not Everyone Is Same

The following list is not meant to guide your retirement lifestyle. It's a reminder that some retirement purchases are more likely to cause financial trouble than others.

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