Reaching 50, 55 or 65 can qualify you for hundreds of discounts, yet plenty of older adults never use them simply because nobody told them. Stores, restaurants and all kinds of service companies offer these deals.
Picture trimming a little off almost everything you buy, from the weekly groceries to your car insurance. Put together, those savings can add up to hundreds of dollars a month. Here are 10 senior discounts worth knowing about.
1. Senior Days at the Grocery Store
Several big grocery chains set aside certain days when older shoppers get an extra break. Fred Meyer, Harris Teeter and Bi-Lo take 5% to 10% off your whole order on those days. The discount usually kicks in at 55 or 60.
The fine print: these days tend to fall midweek, most often on a Tuesday or Wednesday. Expect to show proof of age at the register, so have your ID ready. Some stores also ask you to join their loyalty program first.
Shopping on discount days can add up over a year. If your grocery bill runs $100 a week, a 10% discount on that one day alone keeps $520 a year in your pocket.
2. Pharmacy Discount Programs
Drugstore chains compete hard for older customers, and discount prescription programs are one way they do it. CVS, Walgreens and Rite Aid each run programs that lower costs for people 50 and up, and the savings apply even if you already have insurance.
Some pharmacies go further with membership programs that cut the price of generic drugs. Certain retailers, for example, sell 90-day supplies of common medicines at steep discounts. That works best for maintenance drugs you take every day.
It also pays to ask about manufacturer coupons and patient assistance programs. Pharmacists often know about help that is not well advertised, and a short chat at the counter could save you hundreds on medicine you need.
3. Waived Bank Fees
Banks would like to hold on to customers with retirement savings, so many drop fees for older account holders. At 55 or 60, a lot of banks stop charging monthly maintenance fees and ATM fees and do away with minimum balance rules.
Chase, Bank of America and Wells Fargo all have senior checking accounts with friendlier terms. Perks can include free checks, cashier's checks and money orders, and some banks pay older customers a better rate on savings.
Each waived fee looks minor, but together they add up fast. A typical checking account charges $12 a month in fees. Skipping that saves $144 a year, and you no longer need to park extra cash in the account just to dodge the fee.
4. Lower Cell Phone Bills
The big wireless carriers offer plans that can shave 10% to 25% off your monthly bill. T-Mobile, AT&T and Verizon each sell plans for customers 55 and older, and many come with unlimited data at a lower price.
Some carriers add extras such as free streaming or international calling. Netflix, Hulu or Apple TV+ may be included at no added cost. Other plans skip the activation fee or discount a new phone.
If you pay $80 a month for your phone today, a 20% senior discount saves $192 a year. Over ten years that comes to almost $2,000, just for asking about an age-based plan.
5. Discounts When You Eat Out
Many national restaurant chains have senior discounts but do not advertise them, so you have to ask. Denny's, IHOP and Golden Corral take 10% to 15% off for diners 55 and older, and some restaurants have senior menus with smaller portions and smaller prices.
Fast food places take part too, though the rules change from one location to the next. McDonald's, Burger King and Wendy's often hand out free drinks or cheaper coffee to seniors. Local restaurants frequently run their own specials to build a loyal crowd.
The qualifying age differs from place to place, starting at 50 at some and 65 at others. Ask before you order, since not every location takes part. Timing can matter as well, because some deals only apply during slower hours.
6. Deals on Travel and Hotels
Airlines, hotels and rental car companies all want older travelers and offer special rates to get them. Depending on the company and the season, discounts run anywhere from 5% to 50%. Some are only available when you book directly instead of through a travel website.
An AARP membership opens up still more travel savings on top of the usual senior rates. Marriott, Hilton and Best Western offer members 50 and older rates 10% to 20% below standard. Airlines may give older passengers bonus miles or more flexible booking.
Amtrak takes 10% off train fares for riders 65 and older. The national parks sell a lifetime senior pass for just $80 that gets you into more than 2,000 federal recreation sites. For people who travel often, savings like these can pay for a whole trip.
7. Cheaper Home and Auto Insurance
Insurers see seasoned drivers as a safer bet, and that can mean a lower premium. Most companies cut rates for drivers 55 and older who finish a defensive driving course. The course costs about $25 and can save you 10% a year on your premium.
Homeowners insurance also tends to get cheaper as you get older and pay off your mortgage. Staying with one insurer for years often earns a loyalty discount, and putting home and auto with the same company saves even more.
Go over your policies every year and ask directly about senior discounts, because agents will not always bring them up. Cutting 10% from a $1,500 yearly premium saves $150 a year with very little effort.
8. Gym and Fitness Memberships
Staying active costs less once you qualify for senior gym rates. SilverSneakers gives free gym access through Medicare Advantage plans and covers memberships at thousands of locations around the country. Even without Medicare, many gyms offer lower rates for people 55 and older.
YMCAs use sliding-scale fees tied to age and income. Planet Fitness, LA Fitness and local community centers often have senior pricing, and some offer classes made for older adults, such as water aerobics or gentle yoga.
If your gym costs $40 a month, a 30% senior discount saves $144 a year. The health payoff from regular exercise is worth even more than the money.
9. Movies and Entertainment
Movie theaters save some of their best prices for older customers. AMC, Regal and Cinemark all sell cheaper tickets to people 60 and older, and matinees get even cheaper when you add the senior rate.
Museums, zoos and theme parks also charge older visitors less, and some let seniors in free on certain days. As noted above, the national parks lifetime senior pass is an excellent long-term value.
Streaming services now and then offer senior pricing or bundles through partner groups. It is always worth checking whether your age gets you a lower rate on entertainment subscriptions. Small savings like these make it easier to enjoy yourself on a fixed income.
10. Help With Utility and Phone Bills
In many states, utility companies run lifeline programs that lower bills for seniors who qualify. They can take a real bite out of electric, gas, water and phone costs. Whether you qualify usually depends more on income than on age.
Landline and internet companies have similar programs. AT&T and Comcast, for example, offer lower rates to seniors with limited income, and some programs provide free basic internet so older adults can keep in touch with family and doctors.
Call your utility companies and ask what programs they have. Many seniors miss out simply because they never hear about them. A case manager at your local senior center can also help you work through the applications.
Final Words
There is no shortage of discounts for older adults. The trick is knowing they exist and claiming the ones you qualify for. Over time, that habit can save you a good deal of money.
