These are the 5 retirement essentials you’ll want to have as you age — and how to save money on them

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Retirement planning generally focuses on budgeting and investing. In theory, if you cut expenses and boost investment returns, you’re setting yourself up for a comfortable retirement.

However, this conventional approach often overlooks one crucial element: how you spend your money. Spending isn’t always wasteful — directing money toward the right things can significantly enhance your retirement.

Your quality of life hinges not only on the size of your nest egg, but also on a select group of possessions that can boost your health, protect your independence and expand your options.

With that in mind, here are five essential things worth owning in your golden years — and a few easy ways to save money on them.

The best investment you can make in your retirement isn’t a stock or a bond. It’s your strength.

Physical pain and a lack of mobility put many seniors at serious risk. More than 1 in 4 people over the age of 65 fall each year, driving nearly three million emergency visits, according to the CDC (1).

Regular exercise can’t eliminate this risk, but it can reduce it. Improved strength and mobility lower your chances of falling and serious injury while also supporting better mental health.

Unfortunately, many older Americans neglect the gym because it’s too far away or inconvenient. That’s why investing in a simple home gym can increase the likelihood of regular exercise.

You don’t need much space or expensive equipment. A basic setup focused on foundational movements should suffice.

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Mobility is crucial in retirement. Although you’re probably not commuting to work anymore, having a reliable car lets you control when you visit the doctor, buy groceries and socialize, helping you retain your independence.

However, there’s a big difference between simply “having a car” and having a safe, reliable and affordable car. By prioritizing quality and modern safety features, you can significantly reduce both physical and financial risk.

Brands like Toyota, Buick and Lincoln tend to have lower ownership and maintenance costs, according to Consumer Reports reliability and owner surveys (2), while many Honda models earn top safety scores from the Insurance Institute for Highway Safety (3). These ratings are worth considering if you’re shopping for a new car in retirement.

You’ll also want car insurance, which serves as a financial safety net and protects your personal assets in the event of an accident. As of January 2026, the national average cost of car insurance is $2,297 annually (or $191 per month), according to Experian data (4). But rates can vary widely depending on your state, driving history and vehicle type.

By using OfficialCarInsurance.com, you can easily compare quotes from multiple insurers like Progressive, Allstate and GEICO to ensure you’re getting the best deal.

In just two minutes, you could find rates as low as $29 per month — meaning you’ll have more money left over to spend on things you enjoy.

If you’re an empty nester who prefers to age in place, chances are your home is designed for a family rather than an aging household.

A few targeted upgrades and renovations can make your home safer, more comfortable and easier to navigate in retirement. Many critical upgrades are unglamorous: improved lighting, bathroom grab bars, nonslip flooring, lever-style door handles, stair railings, curbless showers and — when necessary — ramps or wider doorways.

However, a study published in the journal Healthcare found that such modifications can improve physical safety, reduce falls and injuries, support functional independence and lower long-term healthcare costs (5).

An upgraded home could be one of the smartest investments you make in retirement.

But renovations can be expensive, so you’ll want to make sure you’re saving money on other home expenses.

For example, shopping around for a better deal on home insurance could save you hundreds of dollars every year. Consider that the average single-family homeowner pays $2,370 in yearly premiums (6) — and 47% of policyholders saw their rates go up in the past year, according to a 2025 study by JD Power (7).

This is bad news for those who simply auto-renew with their current provider when the renewal date comes around without exploring alternatives. In such a quickly shifting landscape, it can pay off to look for better rates.

OfficialHomeInsurance.com can make this process easy. The platform helps you find the coverage you need without the hassle of calling multiple providers for quotes.

Simply fill out a few details and you could save an average of $482 a year — money that could instead be used to help age-proof your home.

As you shift from work to retirement, your financial strategy needs to move away from accumulation and growth toward protection, tax efficiency and disciplined withdrawals.

Things can get complicated, especially as tax rules and regulations change over time. With this in mind, hiring a financial advisor could be one of the most valuable investments you make in retirement.

In fact, research from Vanguard shows that working with a financial advisor can add about 3% to net returns over time (8). That may be why more than half (51%) of adults age 65 and older report relying on a professional financial advisor, according to a 2025 Gallup survey (9).

With Advisor.com, finding the right advisor is quick and painless. Just enter a few details about your finances and goals, and the platform will connect you with a qualified expert best suited for your needs.

Advisor.com also lets you set up a free initial consultation — with no obligation to hire — to see if the advisor is the right fit for you.

Wearable technology has become increasingly advanced and practical in recent years. The Apple Watch, for instance, includes fall detection, crash detection, Medical ID access and continuous heart-rate monitoring. If it detects a suspicious lack of motion, it can even send out an emergency SOS alert to find help (10).

Similarly, smart speakers and AI-enabled voice assistants from Google or Amazon can help you stay in touch with family or place calls using voice commands, which can be especially helpful if you’re injured or unable to reach a phone.

From fitness trackers to assistive devices like electric jar openers, there’s a wide range of technology designed to make retirement safer, easier and more comfortable. For many retirees, these tools can be among the most practical purchases of their later years.

If you’re looking for better deals on such items, consider joining a senior-focused organization like AARP, which provides access to discounts on almost anything you might need in retirement — from smart-watch data plans to medical alert services and home security systems.

Sign up with AARP today and get 25% off your first year.

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We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

CDC (1); Consumer Reports (2), (3); Experian (4); National Library of Medicine (5); ICE Mortgage Technology (6); JD Power (7); Vanguard (8); Gallup (9); National Council on Aging (10)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

 
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