As we age, financial planning becomes more important than ever. Many seniors focus on traditional ways to save, like using tax-advantaged retirement accounts or shopping in bulk. However, there are many lesser-known benefits that seniors can claim, which can help them save money and improve their quality of life.
If you’re not scrolling through social media like younger generations, you might be missing out on some incredible savings opportunities. From retail discounts to lower car insurance rates, here are 13 benefits seniors are entitled to but often forget to claim.
1. Major Discounts at Top Retail Stores
Many top retailers offer exclusive discounts for seniors, making everyday shopping more affordable.
- Rite Aid Wellness 65+ Program – Seniors get 5x points on purchases, a 10% discount on Tuesdays, and a free pharmacist consultation.
- Goodwill Senior Discount – Seniors can save 10%-20% on select days.
- Kohl’s Senior Day – A 15% discount every Wednesday for customers aged 60+.
- Walgreens Seniors Day – Once a month, seniors 55+ can get 20% off eligible items.
- Amazon Prime Senior Discount – Seniors receiving government assistance like Medicaid or SSI qualify for a discounted Prime membership.
2. Save Big on Car Insurance
Car insurance can be a significant expense, but many seniors are overpaying. Some providers offer policies that can save you up to $600 a year just by switching. Use online comparison tools to check if you’re eligible for a lower rate and cancel your overpriced policy today.
3. Pay Less for Home Repairs
Homeowner’s insurance doesn’t cover many essential home repairs, such as plumbing, electrical issues, or appliance breakdowns. A home warranty can help cover these unexpected costs. Companies like Choice Home Warranty provide 24/7 assistance with repairs, helping you avoid expensive contractor fees.
4. Travel and Dining Discounts
Seniors can enjoy great deals on travel and dining if they know where to look:
- Best Western Senior Discount – 10% off hotel room rates for seniors 55+.
- Denny’s Senior Discount – AARP members get 15% off their total bill.
- AMC Theatres Senior Pricing – Discounted tickets for seniors 60+.
- Greyhound & Amtrak Senior Discounts – Save 5%-10% on fares.
- National Park Senior Pass – A one-time fee of $80 grants lifetime access to over 2,000 U.S. parks and recreation sites.
5. Get the Best Deals When Shopping Online
Finding the best deals online can be time-consuming, but tools like Capital One Shopping automatically apply coupon codes and compare prices across multiple retailers. This free browser extension can help seniors save money without the hassle of searching for discounts manually.
6. Balance Transfer Offers to Reduce Credit Card Interest
If you’re carrying high-interest credit card debt, transferring your balance to a 0% intro APR card could save you hundreds. The Discover it® Cash Back card offers 15 months of 0% interest on balance transfers, allowing you to pay down debt faster.
7. Home Equity Loans for Extra Cash
Seniors with good credit can tap into their home equity to pay off debts or fund home improvements. Programs like Rocket Mortgage Home Equity offer low-interest loans with no expensive fees, allowing homeowners to access their home’s value without selling.
8. Affordable Hearing Aids with a 45-Day Risk-Free Trial
Hearing aids can be costly, but many seniors don’t know about Horizon IX hearing aids by hear.com. These nearly invisible, German-engineered devices provide twice the speech clarity of competitors and come with a 45-day risk-free trial.
9. AARP Membership for Exclusive Savings
If you’re over 50, joining AARP can unlock massive discounts on:
- Restaurants (up to $450 in yearly savings)
- Meal delivery services
- Travel (airfare, hotels, rental cars, cruises)
- Prescriptions and eyeglasses
For a limited time, AARP is offering 25% off new memberships, making the first year just $15 with auto-renewal.
10. Protect Yourself from Identity Theft
In 2023, Americans lost over $10 billion to fraud and identity theft. Services like Aura provide $1 million in identity theft insurance and real-time dark web monitoring to protect your sensitive information. Individual plans start at just $9 per month, making them an affordable way to safeguard your finances.
11. Prescription Drug Discounts
Many seniors overpay for medications without realizing they can access big savings through programs like:
- GoodRx – Offers coupons that lower prescription costs by up to 80%.
- Medicare Extra Help – A federal program that helps low-income seniors pay for prescriptions.
- AARP Prescription Discounts – Members can save on FDA-approved medications.
12. Free Tax Preparation Services
Filing taxes can be complex, but seniors can take advantage of free tax preparation services such as:
- IRS Free File – Seniors with incomes below a certain threshold can file taxes online for free.
- AARP Tax-Aide – Offers free tax assistance for seniors, even if they aren’t AARP members.
13. Utility Bill Assistance
If you’re struggling with high energy costs, you may qualify for discounts through:
- Low Income Home Energy Assistance Program (LIHEAP) – Provides financial assistance for heating and cooling bills.
- Senior Discount Programs – Many local utility companies offer lower rates for seniors.
Final Thoughts
Seniors have access to countless discounts and financial benefits, but many don’t take full advantage of them. Whether it’s saving on travel, shopping, healthcare, or everyday bills, knowing about these opportunities can help stretch your retirement savings further.
Disclaimer – Our team has carefully fact-checked this article to make sure it’s accurate and free from any misinformation. We’re dedicated to keeping our content honest and reliable for our readers.