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It’s the finale in our series about why retirement isn’t as expensive as you may think. Without further ado… our final reason…

10. Time for Do-It-Yourself Projects

Put down the checkbook (or digital currency)! During retirement, you’ll be able to lessen your dependence on outsourcing and begin doing the projects you love. Instead of outsourcing, begin insourcing (the opposite to the outsourcing you’ve been doing much of your life)! You’ll save money by mowing your own lawn, fixing things around the house, doing small car repairs yourself, cleaning your own house, and possibly filing your own taxes.

Another major area where you can now insource is your charitable giving. Instead of writing checks, consider volunteering instead. This will not only save money, it will also fill your heart with joy. You may feel like you’re retired so you’re not at the best point in life to volunteer. But actually, you’re at a fantastic point in life to volunteer! You’re wise. You can mentor children and young adults. You can teach practical, hands-on skills to a younger generation.

What’s especially worthwhile is to take what you enjoy (like wood working, for instance) and use your skill in a giving capacity. Help build a neighbor’s deck, teach a budding carpenter the ins and outs of the trade.

You may not initially consider this volunteer work – but you can start a blog! There you can share your wisdom with others to help make the world a better, more intelligent place. Offering free content to people in a virtual space can be just as rewarding as doing it in person.

In retirement, consider putting down the checkbook. Think back to the way your parents lived. If you’ve been accustomed to writing checks most of your adult life, you’ll have to reform your thinking to save money in retirement. There are plenty of resources to help with that…

Consult Pinterest and browse their list of DIY project ideas. Be sure to look through this list as well, The 52 Easiest and Quickest DIY Projects of All Time. Grow: How to Take Your DIY Project and Passion to the Next Level and Quit Your Job!, is a book about harnessing your DIY skills and using them to accomplish great things. Although this book is geared more towards people looking to quit their jobs, you’re already there. It should make you feel good about yourself. When reading this book, it may open up your mind to realizing you can create a second career upon retirement. The book offers ways to streamline your DIY projects in such a way, you may think about monetizing your skills. Maybe on top of volunteering, you can also charge for your services. Instead of only focusing on saving in retirement, you’re now earning in retirement!

Basically, whenever you get ready to write a check in retirement, ask yourself if you can insource the task instead. When you do insource a task, ask yourself if you can teach others the task and/or charge money for your services. This is what people mean when they say they get a whole new lease on life!

Final Word

Retirement isn’t as expensive as you think. The possibilities for saving money are nearly endless – even if you travel the world, move houses, or buy new tools for your DIY projects. Don’t let outlandish articles make you feel insecure about your retirement plans — I doubt anyone reading this article will need $7 million for retirement.

Most importantly, enjoy retirement! Life is like a meal and retirement is the dessert. Enjoy retirement while also saving money. Surprisingly enough, those two ideas go well together — like chocolate and vanilla!

William Lipovsky owns the personal finance website First Quarter Finance. His most embarrassing moment was telling a Microsoft executive, "I'll just Google it."

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