Image source: Getty Images
Many people decide to join Costco when their families start to grow and they're feeding perpetually hungry kids. As a senior, you may not be in the same boat. If you have kids, perhaps they left the nest years ago, and you're now living solo or with a partner.
But that doesn't mean you can't benefit from a Costco membership. Here are a few reasons why joining as a senior makes financial sense.
1. Low-cost medication and supplements
Healthcare and medication can be a huge expense for seniors. One benefit of being a Costco member is getting access to affordable medications through the company's pharmacies.
Now, you don't have to be a Costco member to fill prescriptions at its pharmacies. But you typically do need a paid membership to buy vitamins and supplements in bulk. Many seniors are advised to take these to aid with things like joint pain and bone strength. And loading up at Costco could result in major savings.
2. Access to travel services
Seniors who are retired may have more free time to travel than working folks. And it could pay to join Costco to get access to the company's travel deals alone.
Costco offers a host of vacation packages, and some of those destinations may be ones you've always wanted to visit. The nice thing about using Costco to book travel is that you might get more than a lower credit card tab -- you might also get the help of a travel specialist who can help you choose the right trip based on your needs.
3. Free tech support for electronics
Being a senior doesn't automatically mean you're not tech-savvy. But some seniors struggle with today's newfangled technology.
Buying electronics at Costco means you get access to free tech support. So if you're lost trying to figure out your new phone or TV, Costco's got you covered. Plus, Costco extends a manufacturer warranty for up to two years when you buy electronics there.
4. Low-cost household staples
Many seniors find that money is tight since they're retired and are no longer earning a paycheck. The upside of joining Costco is getting access to bulk household supplies. The result? Big savings and a means of stretching your IRA or 401(k) balance.
Of course, you can also save money by buying groceries in bulk at Costco. But as a senior, you may not have enough people in your household to use them up before they go bad. The good thing about household staples like tissues, toilet paper, and cleaning supplies is that you're not up against a ticking clock.
5. Affordable gas
Another benefit of being a Costco member is getting access to lower-cost gas. As a senior, you may no longer have a job to commute to. But that doesn't mean you're not still driving all over town.
In fact, if you're retired, you may do your fair share of driving to places like parks and trails to stay active and busy. Filling up at Costco could be much easier on your wallet.
There's much to be gained by getting a Costco membership when you're older. Unfortunately, though, Costco doesn't offer senior discounts. You'll need to prepare to pay $60 for a basic membership or $120 for an Executive membership. You may find, however, that the savings you enjoy can more than make up for those costs.
Alert: our top-rated cash back card now has 0% intro APR until 2025
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
