Retirement is a relaxing time to enjoy the fruits of years of labour. Yet many folks find retirement more stressful than peaceful when money is tight. Do dreams of travel, hobbies, and time with family feel out of reach?

An extra $300 per month can make a big difference in your retirement enjoyment. Read on for six practical tips on how to boost your retirement funds.

Are you counting the sheep - or the dollar bills?

As you approach retirement age, are you losing sleep because your savings seem inadequate no matter how much you scrimp and save? Do you long to retire but need to know how you'll pay the bills?

Many pre-retirees share their worries. An extra $300 monthly can provide breathing room in a tight retirement budget.

It may not seem like much, but over twelve months, it adds up to $3,600, which you can spend on travel, gifts for the grandkids, a new laptop, date nights out, or whatever brings you joy.

6 Savvy ways to fatten retirement funds

Now let's dive into the details of six clever tactics that could potentially channel an extra $300 monthly into your retirement accounts:

1.Delay Social Security Benefits

Each year you delay collecting Social Security payments between ages 62 and 70, your eventual monthly payout amount rises by about 8 per cent. This means waiting until age 70 to begin withdrawals rather than starting Social Security at 62 can increase your monthly benefit by a whopping 76 per cent!

Even delaying benefits for a year or two can make a noticeable difference. For example, by starting your benefit at 65 instead of 62, you would get 30 per cent more each month.

Meet with your financial advisor to calculate the breakeven age that maximizes your lifetime Social Security benefits.

2.Downsize to a Smaller Home

Are you rattling around in that 5-bedroom house now that the kids have moved out and started their own families?

In retirement, trading your large house for a modest condo or apartment allows you to pocket the profits from selling the bigger home. If you've paid off your mortgage, the entire selling price becomes profit (minus fees and taxes).

Eliminating a mortgage payment and high property taxes also lets you redirect that money—thousands per year—into retirement savings each month. Less living space means lower utility bills, too.

3.Relocate to a Tax-Friendly State

Some U.S. states levy no personal income tax on retirement income, including Social Security benefits and pension payouts. Moving to one of these income tax-free havens can save you hundreds per month compared to high-tax states.

Crunching the numbers would determine how much you'd save with an out-of-state move. And besides lower taxes, specific destinations offer affordable housing, mild weather, and fun recreational perks to enhance your quality of life.

4.Become an Airbnb Host

Got unused space now that the kids have flown the coop? Renting out rooms to Airbnb travellers can generate $300+ monthly inside income while meeting fascinating people worldwide.

Airbnb hosts average monthly incomes range from $924 for a private room rental to $3,900 for an entire house in top travel destinations.

Bonuses: tax write-offs to offset rental income and home improvements to attract guests can add value when you eventually sell.

5.Trim Utility Expenses

In retirement, you're home to use energy during pricey peak hours rather than at work. Installing insulation, LED light bulbs, a programmable thermostat, and energy-efficient appliances saves electricity, natural gas and oil costs.

Unplugging appliances and electronics when not in use reduces "vampire" loads, too. Every dollar not spent on utilities is invested in retirement funds instead.

6.Monetize Your Passions

Now that you'll have abundant free time, transform a hobby into a retirement income. Crafty?

Sell handmade jewelry, knit scarves, woodworking projects, or paintings on Etsy. Do you have a green thumb? Grow seasonal flowers and veggies to sell at local farmers' markets. Are you handy with tech? Offer services helping senior citizens set up new devices.

Let your imagination run wild to invent a small business that gives you purpose and a trickle of cash to bolster retirement. It quickly adds up!

Take control today for a brighter tomorrow.

Which of these ideas resonates with your retirement dreams? Every small action that boosts your monthly retirement income expands your freedom to enjoy life.

Seize control of your financial future by taking one small step this week, whether calling your financial advisor about Social Security timing, browsing low-tax states to retire to or clearing clutter from a spare bedroom to welcome Airbnb travellers.

Small steps today lead to big rewards in your relaxed retirement tomorrow.