After years of watching retirees struggle financially, I discovered that the most secure ones aren't necessarily the wealthiest—they're the ones who've mastered these specific money habits that most people completely overlook.
Retirement used to terrify me.
Not the idea of leaving work behind, but the financial uncertainty that comes with it. After spending nearly two decades as a financial analyst, I've seen too many people reach their 60s only to realize they're not as prepared as they thought.
But here's what I've discovered: the most financially secure retirees aren't necessarily the wealthiest ones. They're the ones who adopt specific money habits that set them apart from everyone else.
If you're doing these eight things with your money after 60, you're likely in better shape than 90% of your peers. And if you're not there yet? Well, consider this your roadmap.
1. You still track your spending religiously
When I tell people I have a monthly "money date" with myself, they sometimes laugh. But this habit has been my financial lifeline, especially as I transitioned from corporate life to writing.
Most retirees think they can coast once they hit 60. They've saved, they have their pension or 401(k), so why bother tracking every dollar?
Here's why: your spending patterns change dramatically in retirement, and if you're not paying attention, you can burn through your nest egg faster than you realize.
The financially secure retirees I know review their expenses monthly. They know exactly where their money goes, from healthcare costs to that new gardening hobby. They adjust when needed and never get blindsided by lifestyle creep.
Start simple. Pick one day each month, grab your statements, and actually look at them. You might be surprised by what you find.
2. You're still investing, not just preserving
Remember when everyone used to say you should shift everything to bonds after 60? That advice is outdated, and frankly, dangerous in today's world.
With people living into their 90s, playing it too safe can mean running out of money. The smartest retirees I know keep a portion of their portfolio in growth investments. They understand that retirement could last 30 years or more, and inflation is the silent killer of fixed incomes.
During the 2008 crisis, I watched fear drive people to sell everything at the worst possible time. Those who stayed invested and even added to their positions? They came out stronger. The lesson stuck with me: time in the market beats timing the market, even after 60.
3. You have multiple income streams
Social Security was never meant to be anyone's sole income source, yet so many retirees treat it that way.
The financially secure folks have diversified their income. Maybe it's rental income from a property, dividends from investments, a part-time consulting gig, or even selling vegetables at the local farmers' market like I do. These streams don't need to be huge, but having them makes all the difference.
Think about what you could offer. Your decades of experience are valuable. Could you teach, consult, or create something people would pay for? Even an extra $500 a month can transform your financial security.
4. You delay Social Security when possible
This one's controversial, I know. But if you can afford to wait, delaying Social Security until 70 can increase your monthly benefit by up to 32%.
Warren Buffett once said, "Someone's sitting in the shade today because someone planted a tree a long time ago." Delaying Social Security is like planting that tree for your future self.
Of course, this only works if you have other income to live on in the meantime. But for those who can manage it, the increased monthly payments provide better protection against longevity risk and inflation.
5. You maintain an emergency fund separate from investments
You'd think after 60, emergency funds become less important. Actually, they become more critical.
Medical emergencies, home repairs, helping family members in crisis, these unexpected expenses don't stop just because you're retired. Having cash readily available means you won't have to sell investments at a loss or rack up credit card debt when life throws you a curveball.
I keep six months of expenses in a high-yield savings account. It might seem excessive, but when my father had his heart attack at 68, having that cushion meant we could focus on his recovery, not the bills.
6. You're strategic about withdrawals
How you take money out matters just as much as how much you take out.
The 4% rule is a decent starting point, but the truly secure retirees are more sophisticated. They understand tax implications, required minimum distributions, and which accounts to tap first.
They withdraw from taxable accounts before tax-deferred ones when it makes sense. They consider Roth conversions during low-income years.
This might sound complicated, but it doesn't have to be. Even basic withdrawal planning can save you thousands in taxes and make your money last years longer.
7. You stay educated about financial changes
Tax laws change. Medicare rules evolve. New investment options emerge. The retirees who thrive are the ones who keep learning.
I'm not saying you need to become a financial expert. But subscribing to a reputable financial newsletter, attending free seminars at your library, or even watching educational videos can keep you informed about changes that affect your money.
Knowledge really is power when it comes to retirement security. The more you understand, the better decisions you'll make.
8. You talk openly about money with family
This might be the most important habit of all, yet it's the one people avoid most.
Financially secure retirees have honest conversations with their families about their financial situation. They discuss estate planning, long-term care wishes, and what they can and cannot afford to help with.
These conversations prevent misunderstandings, reduce family conflict, and ensure everyone's on the same page. They also model healthy financial behavior for the next generation.
Start small if you need to. Share your basic wishes. Let your kids know where important documents are kept. Build from there.
Final thoughts
After years of analyzing financial data and human behavior, I've learned that financial security after 60 isn't about having millions in the bank. It's about being intentional, informed, and proactive with whatever resources you have.
If you're already doing these eight things, congratulations. You're ahead of the game. If not, pick one to start with this month. Small changes compound over time, just like interest.
Remember, it's never too late to improve your financial security. Whether you're 60, 70, or beyond, these habits can make a real difference in your quality of life and peace of mind.
Your future self will thank you for the effort you put in today.
What’s Your Plant-Powered Archetype?
Ever wonder what your everyday habits say about your deeper purpose—and how they ripple out to impact the planet?
This 90-second quiz reveals the plant-powered role you’re here to play, and the tiny shift that makes it even more powerful.
12 fun questions. Instant results. Surprisingly accurate.
