Need To Cut Expenses While on Social Security? Here’s the First Thing To Axe

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To ensure a good quality of life later on, its vital to cut spending now.

But wheres the best place to start?

By eliminating or reducing mortgage payments and other homeowning costsretirees can fund a better lifestyle as they age.

Housing costs represent the biggest expense for retirees.

They amount to roughly 25% of spending for Americans 65 years and older.

Downsizing to a cheaper homecan also translate into moreretirementsavings.

Choose locations that are well-connected to major transportation lines, she said.

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