Everyone knows about senior discounts at restaurants and retailers, but many overlook some of the greatest benefits and programs available just for seniors. Unfortunately many people 55+ are missing out entirely, simply because they don't know these programs exist.
That's why we put together this list of the top discounts and benefits for seniors we could find. There's potentially $27,900 a year or more in savings found in this list below.
Editor's Note: Some of these discounts are only available online, and may not be available for very long. For that reason, we recommend our readers claim their benefits to start saving right away!
1. Collecting Social Security? Consider a "Do-Over" and Get a Benefits Boost
An obscure tax law allows those who collect social security to halt current benefits, pay back everything collected (interest-free), and restart benefits at a new, higher rate based on your current age. It's called "do-over" and it can dramatically increase social security.
Here's how it works... Let's say someone qualifies for full benefits of $1,600 a month at their normal retirement age of 66, but they decide to begin collecting benefits at 62. As a result, their retirement benefits will be reduced by 25% for the rest of their life (to $1,200 a month in this example) because they'll be collecting a smaller benefit for a longer period of time.
On the other hand, if that person delayed collecting benefits, they will receive an 8% credit for every year beyond their normal retirement age until they reach 70, when their maximum benefit will be 132% of what they would have received at age 66. In this example, this person would receive about $2,100 a month at 70 -- a $900 difference!
Most don't realize this option is available to them, but that doesn't mean it's for everyone. Be sure to crunch the numbers and speak with a qualified advisor before doing anything drastic.
2. FED Cuts Rates! Average Homeowners Get $3,252/year Taken Off Their Mortgage With The Lowest Rates In 3 Years.
If you're a homeowner, this one thing will save you thousands of dollars this year...
The FED recently cut rates down to the lowest they've been in 3 years! These cuts mean the average American homeowner can reduce their mortgage payments by an average of $3,252/year (or $271/month).
There's no telling when these rates could increase, so it's homeowners are urged to immediately visit the FED RATE WATCH website.
So while the banks impatiently wait for the rates to increase (so they can make more money off of you!), the FED is giving homeowners a final push to take advantage of historically low rates. These rates could go up at any given time. The good news is that once you're in, you're in and you can lock your low rate for 30 years!
So if reducing your payments by $271/month, paying off your mortgage faster, or even taking some cash out would help you, it's important to check your eligibility here. Checking your eligibility is quick and completely free!Check My Eligibility Now »
3. Never Pay Out-of-Pocket for Home Repairs Again
Unexpected home repairs can be catastrophic to the finances of seniors on a fixed monthly budget. Unfortunately home insurance will not cover the refrigerator, stove or washing machine breaking down unexpectedly. Same goes for your heater in the winter or AC unit in the summer. If any of these items break, it can run hundreds or even thousands of dollars.
This is why so many homeowners have taken such an interest in this Home Warranty Program that supplements homeowners insurance. It can end up saving thousands by protecting unexpected home repairs. The AC, furnace, appliances, roofing repairs – they're all covered! If there's something they can't fix, they just replace it!Click to Learn More Now »
4. Seniors Enjoy Monthly Savings on on Car Insurance
Did you know that depending on your age and other factors you could get a huge discount on car insurance? According to CBS News, you could be missing out on an average of $417 a year in savings.* That is because, like most seniors, you are probably not taking advantage of the multiple discounts available to you by comparison shopping.See My New Rate Now »
5. Save on Groceries
Once you've used your senior discount at all of your favorite restaurants, you'll need to buy some groceries. Lots of stores give a senior discount – you just need to ask.
Keep in mind that discounts and deals may vary and can change without notice.
- Farm Fresh: 5% discount Tuesdays and Thursdays (55+)
- Hy-Vee: depending on location will usually offer 5% discount on Tuesdays and Wednesdays (some stores set age to 65+)
- Fred Meyer: 10% senior discount on the first Tuesday of every month
- New Seasons Market: 10% discount every Wednesday
- Compare Food Supermarket: 10% discount in participating locations, get in touch with your local store to find out more
- Piggly Wiggly: varying discounts at participating locations (inquire)
- Fry's Food: 10% discount on the first Wednesday of every month to all seniors with VIP card.
6. Special Program Helps Seniors Get Out Of Debt
We are now witnessing a crisis with millions of seniors struggling with debt including credit card, loan, tax, etc. This is unacceptable, but there is a way out. The solution is a debt relief program that will take you less than a minute to get a free quote.
With tens of millions of seniors taking jobs in retirement, living pay check to pay check, or on a fixed income, our seniors simply deserve better. There is absolutely no cost or credit check to see if you qualify.Click Here To Reduce Your Debt Now »
7. Seniors 55 and Older Get $1,000,000 Tax-Free Life Insurance
Unfortunately with every year you age your insurance premium amount rises 8-10%. For some, rising life insurance policy costs can add up significantly. And what's worse is the fact that many have a hard time qualifying for new policies altogether once they reach a certain age.
Fortunately though, there is a way to get a very cheap life insurance policy. You need to compare quotes from multiple insurance companies. This amazing website will let you do that and the best part it is totally free! They will run your information through their technology to automatically find the best life insurance policies available for a much much lower price. You could end up saving up to 70% on life insurance!
No medical check and instant approval policies are also available. Click here to see available plans.Save On Life Insurance Now »
Bonus 1: Discounts When Eating Out
If you don’t feel like cooking be sure to turn to these places for good senior dining deals. From fast food to steak restaurants, our compiled restaurant list will definitely help you make your choice.
Keep in mind that deals may vary at participating locations and can change without notice.
- McDonald’s: discounts on coffee and beverages (55+)
- Wendy’s: get free coffee or other discounts depending on location
- IHOP: 10% discount (55+) and a menu for people aged 55 and over at participating locations
- Golden Corral: Senior discount varies by location (Inquire)
- Denny’s: Offers a 55+ menu with smaller portions, and better prices. (We like this a lot!)
- Perkins: Restaurants: Fifty-Five Plus menu Offers special deals (55+)
- Subway: 10% off (60+) varies by location
- Old Country Buffet: Daily discounts for seniors (55+)
- Burger King: 10% discount on purchase depending on location (60+)
- Long John Silver’s: 10% discount or discounted beverage (55+)
Bonus 2: Enjoy a Trip to the Movies With These Senior Discounts
Love seeing a good flick at your local theatre? Here are the top theatre discounts for seniors.
- Regal Theatres: Regal Entertainment Group offers AARP members who are 50 or older a $3.00 discount on a large or small popcorn and soft drink combination purchase.
- AMC Theatres: AMC Theatres offers discounted ticket prices to customers who are 60 or older with valid photo identification.
- Marcus Theatres: Marcus Theatres offers customers who are 60 or older $5 admission to matinees each Friday with valid photo identification.
- Showcase Cinemas: Each Wednesday, Showcase Cinemas offers $7 admission to customers who are 60 or older. The special savings applies to all movie tickets including IMAX, RealD 3D, XPlus, and MX4D.
- Landmark Theatres: Landmark Theatres offers reduced pricing to guests 62 years of age or older with valid identification.
Don't Forget to Claim the Top 3, Most Popular Money-Saving Senior Discounts…
✔ Take $3,252/year Off Your Mortgage: Click here to check if your eligible now!
✔ Protect Against Expensive Home Repairs: Click here to view home warranty options now!
✔ Cheap Auto Insurance: Click here to search discounted rates now!