Top 7 Often-Overlooked Tax Deductions for Retirees

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For retirees, it’s more important than ever to make the best of every tax deduction available. That’s especially true if you rely exclusively on a fixed income. After all, you have to make sure your retirement nest egg will last so it can cover the rest of your life. However, looking after your nest egg during retirement is definitely easier said than done.

This is why retirees must pay close attention to detailed information related to their tax situation. Unfortunately, most seniors miss out on valuable tax deductions. In many cases, it’s just because they don’t know about these tax-saving opportunities.

Don’t let this happen to you — find out about these often-overlooked tax deductions for retirees. You could save a lot of money!

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11 Responses

  1. Hello,
    I am retired. I am helping my disabled son I have a driver license but I have no car because cannot afford a car. My only income is Social Security and $300 for food stamps. For my son and myself. Housing is my biggest issue we live in a unit with a attached garage, It was a dog house. I need to know how I can save money make money.

    1. Kathy can you be a caregiver for seniors? there is a huge need out there for honest and compassionate people to help seniors in their homes. some CNA courses are consolidated and affordable you might not even need one for domestic chores maybe work 4 hours per day so you don’t get worn out?

  2. I am now 65 and the government has done so much wrong i can not even begin to think about retirement. This is so sad. Looked forward to the day with pride my whole life. Began working in the fields with my dad when I was a kid. First real job 15. Been working my ass off for 50 years. The politicians don’t care. They have it made by taking our money.

    1. I am truly sorry William & I get it. I’m a retired school bus drover. Retired only because I had literally broke my back, I didn’t make it retirement age. I have a son that’s on the autistic spectrum whose father he never met. He was a Vietnam vet, who came home physically, not mentally. He was hit & killed by kids drag racing.
      This government never gave him or his son the SS or VA benefits they were entitled to. Worked my fingers to the bone. I finally won the SS benefits where 3 lawyers couldn’t (my son was just a number), VA I’m still working on. I just don’t have another 32 years to fight. That’s how long it took to win. Absolutely ridiculous. But let an illegal come in & they get free everything & yet my son lost his dad in a war we had no business in. Go figure, right! I get it. You take care. God gives what we need. Been there, he does come through.

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