For Americans nearing retirement age, reducing their living expenses may be an important part of preparing for retirement. One of the major ways that couples can reduce their cost of living is by reducing their housing costs.  The best way is to eliminate mortgage debt completely before retirement by paying extra payments or even getting a small part-time job to pay more toward the payments.  Another way is to downsize which will not only help you with the mortgage payments but also decrease your overall living expenses (i.e. utilities, maintenance, etc.)

For more information read, “How to Massively Reduce Your Housing Costs Before Retirement.”