3 ways retirees can improve their finances right now

MoneyWatch: Managing Your Money 3 ways retirees can improve their finances right now We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson June 4, 2026 / 1:11 PM EDT / CBS News Add CBS News on Google By revisiting where they keep their money, retirees may be able to improve their financial circumstances now.  Creative Images Lab/Getty Images Finances are strained for millions of Americans right now. Not only is inflation on the rise again and currently sitting at its highest point in three years, but the hope for interest rate cuts this year has largely subsided. And, if inflation continues to grow, interest rate hikes may actually be back in play. Combined with a rising oil price and softening wages, many find themselves taking a closer look at their budget right now. That's especially true for seniors and retirees, many of whom are reliant upon a limited mix of savings, retirement funds and Social Security benefits.While retirees will be limited in what they can do to impact broader economic trends, they're not powerless to adjust their own finances, even if they may feel unsure of how to do so right now. That said, there are multiple ways retirees can improve their finances, and they can do so quickly and effectively, potentially both growing their money and reducing their expenses as soon as this summer. Below, we'll detail three specific moves to consider now.Start by reviewing your credit card debt forgiveness eligibility here.3 ways retirees can improve their finances right nowAn...