People spend a lifetime accumulating possessions, especially during their active work years. However, many of these purchases become irrelevant or unnecessary later in life.
If you’re nearing retirement or ready to enter your golden years, selling these 12 things can help simplify your life and earn money to support a comfortable post-retirement lifestyle.
Large House
Living in a large house isn’t a financially viable choice for people nearing retirement. Larger properties demand hefty spending for proper maintenance, potentially draining one’s retirement savings.
An average American household spends approximately $6,888/year on utility bills. The amount is higher for bigger properties. Downsizing your home right before retirement and selling your larger house can help you save significant money on property taxes, utility bills, home insurance, maintenance, etc.
Extra Cars
If you own two or more cars, it’s time to sell all the extra vehicles. Owning multiple vehicles in retirement can quickly become more of a hassle than convenience.
These vehicles demand considerable financial investments, such as cleaning costs, insurance premiums, fuel, and other maintenance costs that can slowly eat away at retirement savings. If your financial condition permits, you can keep one vehicle for leisure and ease of travel.
Unused Exercise Equipment
Fitness goals change with time, so your previous exercise equipment may no longer remain relevant during your retirement phase. Consider selling all unused equipment for quick cash and freeing up home space.
If you have abdominal machine workout equipment, it can sell for approximately $100, pilates power gym equipment can be listed for $250, etc. The amount can depend on the type of equipment you own, their condition, age, etc.
Designer Clothes and Handbags
People with wardrobes full of designer clothes and handbags can consider selling a significant portion of their possessions, especially if they don’t plan to use them. Numerous platforms pay attractive commissions for designer clothes and handbags in good condition. Some platforms will pay you 60% to 80% commission for clothes that generally sell for $100 to $199. For premium handbags such as the ones by Hermes, Chanel, Dior, Cartier, Fendi, etc., you can receive a minimum 50% commission. It’s a great way to make room for what’s needed while earning quick cash.
Large Furniture
Large furniture is required when raising a family, but it becomes unnecessary once children move out. If you’re about to retire soon and live alone or with your spouse in your own house, consider selling the unwanted large furniture to make your home more spacious and eliminate the unwanted hassle of cleaning and maintaining those large items. You can sell them on any online platform. Some people have earned $15k within 3 days by selling their items directly to local sellers on Facebook Marketplace, so you may explore it for quick selling.
Old Electronics and Gadgets
Many retirees and those nearing retirement generally have a stash of old electronics and gadgets that are either outdated or unused. If you have similar items, such as laptops, cameras, gaming consoles, etc., you should sell them before retirement. Numerous retailers, like Costco, Walmart, Amazon, Target, and others will pay you a fair price for old electronics and gadgets. Selling these items will get you quick cash while reducing clutter from your house.
Hobby and Craft Supplies
It’s highly likely that the hobbies and craft projects that once kept you awake till night with excitement no longer hold your attention. If you invested in a large paint stash, woodworking tools, sewing machines, and other crafting materials to keep yourself engaged during leisure time, you may resell them to get rid of items you won’t use in the future. You can sell these items on any online marketplace, garage sales, or any convenient medium.
Expensive Jewelry
Some people plan to embrace a minimalist lifestyle during their golden years. If it sounds like you, it’s time to reassess your possessions before retiring. You can sell your designer jewelry, such as Cartier bracelet, Tiffany & Co. watch, CHANEL ring, etc., to platforms that offer quick cash against fine jewelry. You may receive 20% to 50% of the jewelry’s original purchase price, depending on the jewelry type, brand, condition, etc.
Stockpiled Home Décor
Over the years, people have collected seasonal decorations, home décor pieces, and themed items that might not fit their current taste or space. If you’ve accumulated plenty of these and are considering downsizing for a comfortable retirement, you may sell all the unwanted items. Since people are open to buying pre-owned small original art pieces, footstools, vintage baskets, antique rugs, etc., you can easily sell them for a reasonable amount.
Camping and Outdoor Gear
If you frequently went for outdoor activities, such as fishing, camping, hiking, etc., but plan to reduce them during your retirement years, selling outdoor gear is a logical option. Keeping these items in usable condition requires regular upkeep, which isn’t practical for many retirees. It also consumes plenty of storage space, making it an unreasonable item to stock. Essentials like camping tents, sleeping pads, camp chairs, etc., sell faster, so you can list them on any online marketplace for quick disposal.
Unused Musical Instruments
You can sell musical instruments that you rarely play and have lost interest in. Selling them can help you reduce clutter and earn a decent amount to support your retirement expenses. Guitars, pianos, and string instruments generally drive the most revenue in stores, so selling them can be easier, if you have these or similar instruments.
Antiques and Collectibles
Antiques and collectibles have no usage besides adding aesthetic value to a place or supporting one’s passion or interest in collecting specific niche items. People nearing retirement can easily sell them as they don’t hold any practical value. While most antiques and collectibles have some audience, items like coins, board games, porcelain figures, stamps, etc., have easy buyers willing to pay a decent amount.
