7 Simple Ways to Save Money if You Want to Retire Early

There’s no getting around it: everything costs more these days. From groceries to gas to the latest must-have item, it sometimes feels like as soon as you step out the front door, someone’s already trying to take a bite out of your hard-earned cash.

On top of that, sudden swings in the market can make your savings feel uncertain. That’s why smart Americans over 50 are using these ingenious solutions to not only protect what they’ve built, but to give themselves more — more travel, more security, more freedom.

And if you’re under 50? Well, it’s never too early to start planning for retirement! These 7 simple moves can help you do exactly that.

1. Cancel your car insurance (the right way)

Don’t worry. No one’s suggesting you drive uninsured. But chances are, you could be paying way too much for coverage — and the savings from switching might surprise you.

With this quick online tool, you can compare top quotes in minutes. Here’s how it works:

• Answer a few simple questions about your car
• Review your free quotes
• Choose the one that works best for you before rates go up

And that’s it. Really, it’s that simple.

Compare rates now and start saving today

2. Save thousands by tackling debt smarter

Credit card debt has a way of piling up fast and once interest kicks in, it feels like you’ll never catch up. Add in medical bills or personal loans, and the stress can be overwhelming. It’s a situation millions of Americans face every year.

That’s where JG Wentworth Debt Relief comes in. Designed to settle your debt for less than you owe, their program works directly with creditors to establish one affordable monthly payment, giving people a clearer path forward. With 30+ years experience and no upfront costs, many save thousands and become debt-free years sooner via JG Wentworth, keeping more money free for the future.

It’s quick, simple, and free to see if you’re eligible for JG Wentworth Debt Relief

Of course, saving money isn’t just about cutting costs; it’s also about choosing the right places to grow what you already have:

3. Get up to $300 and 4.30% APY simply by switching to SoFi® Checking & Savings

Yes, you read that correctly. Set up direct deposit with SoFi® Checking & Savings and you could earn up to $300 in bonuses, plus a 4.30% APY on savings (and 0.50% on checking). That’s far above the national average.

No account fees, no minimums, no-fee overdraft coverage, and even early paycheck access — SoFi® makes switching banks worth it. Still, many people stick with their old bank, leaving money on the table. That’s why SoFi® gives you everything in one place to help you grow your money faster and manage it with ease.

4. Turn the spending you already do into a free vacation

With the [CC], putting a few thousand dollars of your everyday spending on the card in the first few months unlocks tens of thousands of bonus points. Redeemed for cash, that’s hundreds back — but used wisely, those points can stretch to well over a thousand dollars in free flights and hotels. Think of it as your next trip paid for, while your savings keep working toward retirement.¹

Click here to apply for the [CC]

5. Your home could be the key to more money in your pocket

Planning a renovation? Looking to pay off high-interest debt? Or just want extra cash for life’s big milestones? The equity in your home — the portion you truly own after paying down your mortgage — could be the answer.

You may be eligible if:

• You’ve built up equity in your home
• Your credit score is around 680 or higher
• You’d like to access funds without refinancing your mortgage

Rocket Mortgage makes it simple to tap into that value. Their online tool shows how much equity you could access and what rates might be available — all without impacting your credit score. Clear terms, fast access, and support to help you take the next step.

Check your eligibility today and see what you might qualify for

Home equity is one way to free up cash, but everyone’s financial situation looks a little different — saving smarter can also mean addressing challenges from other angles:

6. Protect your savings by tackling back taxes

IRS penalties and interest add up quickly, draining money that could be going toward your future. If you owe more than $12,000 in tax debt, waiting only makes the problem worse — but the right program can help reduce costs and make payments manageable.

Tax Hardship Center works directly with the IRS to cut penalties, negotiate balances, and set up affordable payment plans. With an A+ BBB rating, transparent pricing, and a 14-day money-back guarantee, they’ve already helped thousands of Americans protect more of their savings.

See if you qualify today and take the first step toward protecting your savings

Getting tax relief is one way to protect your savings; another is making sure unexpected home repairs don’t catch you off guard:

7. Avoid unexpected home repair costs by planning ahead

A broken refrigerator, water heater, or air conditioner can set you back $1,500 or more in an instant. With a home warranty, the repair could cost as little as a $100 service fee instead — keeping hundreds of dollars in your savings account.

Choice Home Warranty has protected more than 2 million homes and handled over 8 million service requests nationwide. Backed by 25,000+ contractors and thousands of verified 5-star reviews, they’ve built a reputation for dependable coverage. Right now, new customers can get $75 off plus 1 month free.

See available plans today and find out how much you could save on your next big repair

All in all, early retirement isn’t about one big move — it’s about making simple, everyday choices that protect your savings and help your money go further.

Disclaimer

SoFi Checking and Savings

*Terms Apply
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.

SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible DirectDeposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incomingwire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at http://www.sofi.com/legal/banking-fees/

Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Enroll in SoFi Plus between 9/18/25 and 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/plus. SoFi Bank, N.A. Member FDIC.

Additional FDIC Insurance - SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

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¹ Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain.