Senior Discounts 2023: How to Keep More Cash in Your Pockets
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Senior discounts are some of the perks that come with crossing the half-century mark. Many retailers, restaurants, hotels, transportation companies, and insurance firms cater to older adults by offering discounted prices on everything from the food they eat to the clothes they wear.
From a marketing standpoint, this makes total sense. After all, as a group, seniors have enormous spending power. According to an AARP analysis, adults age 50 and older made up half of the global consumer spending, in 2020 equal to $35 trillion. Savvy marketers know that the best senior discounts can turn older adults into loyal customers — and pay huge dividends.
Your senior status can be an economic advantage. However, while senior discounts are commonly available, they aren't always clearly advertised. The best strategy is to always ask. Many clerks are reluctant to apply a discount based on age for fear of offending customers, but it's worth your while to speak up and see if you can save a few dollars.
The Pros and Cons of Joining AARP
AARP (formerly known as the American Association of Retired Persons) is a lobbying organization for people age 50 and up. For a yearly fee, members get access to discounts on food, entertainment, travel, insurance, and more. The AARP discount list even includes things like glasses and hearing aids. Spouses are included for free on a membership.
Is AARP worth it? That depends. Many places offer discounts for seniors without requiring AARP membership. If you're a member of an auto club, you may find that the discounts available to you are just as good as the ones through AARP. And some people disagree with AARP's politics and choose not to support the organization. (Remember: It's primarily a lobby group.)
On the other hand, being a member of AARP can lower the age for senior discounts. At many places, discounts don't begin until at least age 55, but you can become an AARP member at 50 and take advantage of some savings. The association also offers its members access to health insurance, which can be a big bonus if you're too young for Medicare.
It's important to do your research and make the decision that's right for you.
Senior Discounts at Restaurants
According to a report, American adults over the age of 55 eat somewhere other than their homes three to five times a week. A number of eating establishments offer discounts to older adults to help bring those costs down.
Restaurants that offer senior discounts
Many restaurants offer lower prices to older adults on the basis of age. While the qualifying age varies from place to place, most of the deals on this list are discounts for seniors 55 and older. Keep in mind that many of these discounts are not advertised and can change at any time. Following is a partial list of restaurants that offer discounts to seniors.
Senior Discounts on Clothing
Retirees may not need to spend money on work clothes, but not all seniors are retired. Plus, everyone needs new threads now and then, and getting them for less is a nice perk. There are many stores that offer senior citizen discounts on apparel.
Senior Discounts at Grocery, Drug, and Other Retail Stores
The world's biggest retailer unfortunately does not offer any special deals for senior citizens. (It's sad but true: There is no Walmart senior discount.) However, plenty of other retail stores do offer discounts. Depending on your age, your location, and the day of the week, you could save anywhere from five to 20 percent. Remember that these promotions can change at any time, so be sure to contact your local store to verify what's available.
Senior Discounts on Hotels
An AARP travel survey found that, despite concerns regarding the pandemic, 54% of baby boomers expected to travel in 2021. While Covid-19 put a damper on many travel plans in 2020, there are still plenty of hotels offering discounts on accommodations to older adults when they are ready to travel.
AARP hotel discounts
When it comes to AARP discounts, hotels are a key perk. Members are entitled to the following special deals:
You will typically need to show your membership card to get the discount, but not all places ask for it. It's a good idea to carry it with you just in case.
Hotels that offer senior discounts to the general public
In many cases, you don't need to be a member of a particular group to get a reduced price on hotel accommodations. Most of the following deals are available to seniors over 60, though a few will give discounts to people as young as 55.
Travel Discounts for Seniors
Are you looking for discounts that will help you see the world? You can get out and about for less with these deals from travel providers.
Senior Discounts on Insurance
Even if you have one of the best cars for seniors, operating and maintaining a vehicle can be hugely expensive. That's particularly true for older adults on fixed incomes. Fortunately, there are plenty of insurance companies that recognize that reality and offer reduced rates for senior citizens.