1. Prescriptions: The #1 Silent Money Drain After 55
This one alone can free up $50–$300 a month.
Most people refill prescriptions on autopilot. Same pharmacy. Same price. Same co-pay. Year after year.
What to do instead:
Ask your doctor if any medication has a generic or lower-dose alternative
Compare prices at different pharmacies — prices vary wildly
Check discount programs (even Medicare recipients can use them)
Many people discover the same medication costs half the price across the street.
2. Insurance You Set and Forgot
Auto, home, and even supplemental health insurance often go untouched for 5–10 years.
Big mistake. Rates rise quietly, especially for loyal customers.Do this once a year:
Request a full review (not a quote)
Ask what discounts you no longer qualify for
Ask what discounts you now do qualify for after 55
This alone often saves $400–$1,000 a year.
3. Subscriptions You No Longer Use
Streaming services. News apps. Fitness memberships. “Free trials” from years ago. Pull your last 90 days of bank statements and circle anything you don’t actively use. Cancel ruthlessly. This is found money — and it adds up fast.
4. Utilities and Phone Plans Built for Younger Households
Most utility and phone plans are designed for families, not people 55+.
Call and ask specifically:
“Do you have senior or low-usage plans?”
“Is there a loyalty discount?”
Even small reductions can save $30–$80 a month.
5. Taxes You Might Not Need to Be Paying
Many states offer:
Property tax freezes
Homestead exemptions
Senior income exclusions
If you’ve lived in your home for years, this could be one of the biggest wins.
How to Keep the Money for Good
Here’s the most important part: Don’t let the savings disappear.
The moment you find extra money:
Split it in two
Half goes to peace of mind (savings or debt reduction)
Half improves your life — guilt-free
When money feels purposeful, it sticks.
The Big Picture
Hidden money is how confidence returns.
Confidence leads to better decisions.
Better decisions create a future you can actually enjoy.
You don’t need a miracle. You need awareness — and one afternoon of action, and that’s something you can do.
With care,
Mike Bridges
Founder, The O55 Report