The tendency to downsize in retirement is a smart idea for multiple reasons.

For one, seniors may not need the type of lifestyle they had in their middle age. Downsizing can also save money, allowing retirees to fund their dreams and supplement their Social Security.

So how can you cut back and save money? If the nest is empty and you no longer need as much space, try moving into a smaller home or an apartment. As a bonus, pick a state that doesn’t tax Social Security.

What about driving? If you and your spouse are no longer in the workforce, you may be able to get by with one car instead of two. You could also consider canceling unnecessary subscription services, so you can save your money for the big treats in life, like vacations.

Remember, downsizing in retirement isn’t just about cutting back — it’s about saving up, so you can enjoy bigger and better things. To protect your retirement income and grow it, consider signing our petition for fair yearly cost-of-living adjustments (COLAs).

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