The sweet deals for retirees are part of the benefits offered to members of a prominent organization.
Those 50 and older can join the American Association for Retired Persons (AARP).
Signing up can be done online, by mail, or by phone.
Seniors select a membership term, complete the required form, and submit it for approval.
Standard membership costs $20 per year, but it may be less depending on automatic renewal options and other factors.
The well-known nonprofit provides several benefits to members and protects Medicare to ensure that older Americans have adequate health insurance.
AARP provides in-depth financial and travel information, as well as consistent entertainment and dining discounts.
SAVINGS GALORE
Some of the options available in May are extremely cost-effective.
Seniors, for example, can save 30% on Cirque du Soleil shows across the country.
Theme parks such as Disneyland Resort in California offer $35 off tickets, while AARP members can save up to $60 at Walt Disney World.
Similarly, Universal Studios Hollywood offers 10% off tickets, and Universal Orlando Resort gives those who purchase a 2-Park, 2-Day ticket an additional two days for free.
AARP offers up to 40% off movie tickets at popular theater chains nationwide, as well as varying discounts on plane tickets.
DINING DEALS
The restaurant deals are nearly endless.
Auntie Anne’s, Bonefish Grill, Bubba Gump Shrimp Co., Joe’s Crab Shack, McAlister’s Deli, Carrabba’s Italian Grill, Moe’s Southwest Grill, Outback Steakhouse, Chart House, Rain Forest Cafe, and Cinnabon all provide a 10% discount in May.
Cici’s Pizza, Denny’s, and Papa John’s all have deals ranging from 15% to 20% off.
Where to save your retirement money
There are several different places where you can put the money you save for retirement. Each has different tax advantages, but not all of them are available to everyone.
401(k) – an employer-sponsored retirement account. Contributions are made pre-tax and many employers will match a certain percentage of your contributions. Taxes are paid when the funds are withdrawn in retirement.
Roth IRA – an individual retirement account. Contributions are made post-tax but withdrawals in retirement are not taxed.
TSP (thrift savings plan) – a retirement savings and investment plan for Federal employees and members of the uniformed services. They work similarly to 401(k)s but may have more limited investment options.
Pension – an employee benefit that commits the employer to make payments to the employee in retirement. Pensions are becoming increasingly rare.
According to the AARP website, members who spend $60 per week eating out will save an additional $450 per year if they take advantage of the average restaurant discounts.
AARP members can also save 10% on streaming services such as Paramount+.
Looking back at your family tree with an Ancestry yearly subscription is also 30% off.
One of the best options is the LifeLock Ultimate Plus identity protection plan, which promises an exclusive savings of $125 per year to AARP members.
The complete list can be found on the AARP website.
Retirees should also be aware of potential fees that could deplete their 401(k) accounts, and there are important steps to take to avoid losing any money.
Another senior ended up in a “deep pit” after losing $280,000 in savings due to a “protection” call.
