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When we think about good seasons for a deal, the holidays often come to mind with Black Friday blowouts and other specials designed to drive our gift giving activities. But after the holidays are said and done, there’s a time of year that presents an even better opportunity for seniors looking to stretch their retirement budgets: the month of February. As the winter starts to make way for the spring, and remaining holiday inventory needs cleared out, savvy shoppers can find some great sales. If you’re in the market for any of the goods and services on this list, start planning now to take advantage of the discounts the shortest month can bring.
President’s Day Deals
Each President’s Day weekend, retailers offer huge sales in order to clear out their stock of winter goods. While it might feel more natural to purchase your winter clothing like hats, gloves, and coats in the fall, you can save a lot of money by buying ahead for next year’s cold weather. Additionally, President’s Day sales often include mattresses and linens—so stick with your old bedroom setup until you find a good sale comeFebruary.
Each January, the consumer electronics industry holds major expos to show off the new gadgets that will be coming out in the new year. New models of televisions, smartphones, computers, and other similar products are put on display, which acts as a signal to retailers to begin clearing their stock of last year’s models. That means that the month of February often brings with it sales on the current-year models of electronics. In fact, some reports suggest that smartphones could be discounted up to 40% more than they are throughout the rest of the year. Plus, with the Super Bowl in early February, there are frequently new TV sales to accompany the big game.
With the cold comes the boating off-season.This is when the boating industry has its trade shows and makes its preparations for the warm weather to come. If your retirement dreams include setting sail and enjoying some aquatic fun, this makes February the absolute best time of the year to make your big investment in a boat. Plan ahead to visit dealers and also boat shows throughout the month in order to find deals on last year’s models, or early opportunities to get in on newer models while sellers are motivated to make sales.
Heart Health Opportunities
This category is a bit different from the others, but it’s no less an opportunity to save money in the long-term.February marks American Heart Month, which is observed each year with lectures and workshops to empower you to take better care of your heart. Take advantage by learning as much as you can and consider setting an appointment with your primary care physician to talk about your heart health. As the old saying goes, an ounce of prevention is worth a pound of cure—and that’s especially true when it comes to managing your healthcare costs in retirement.
At the end of the day, the best thing you can do to enjoy the retirement of your dreams is to think big about both your costs and your buying power. Planning around the kinds of deals that show up eachFebruary can help you save money on the things you need and want—and every dollar saved can go a long way. Likewise, it’s important to always consider every option you have to finance your lifestyle in your golden years. Did you know that you can sell all or a portion of your life insurance policy, even term insurance? If you have a life insurance policy that is costing you more than it’s worth in monthly premiums, you can turn that expense into an immediate cash payout with a life settlement. Contact us today for help exploring this often overlooked option to balance your retirement budget.
Case Study: Jerry and Shelia bought life insurance when they were younger to protect their children’s’ futures. Now the kids are grown and their youngest child is 49. Shelia passed away last year and Jerry no longer needs his life insurance policy. Jerry sold his life insurance policy and used the proceeds to supplement his retirement.
Life Settlement Advisors