Many people downsize in retirement to reduce spending and make life easier. For some, this means moving to a smaller home or retirement community. For others, this may just mean getting rid of things they no longer use.
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If your retirement plan involves downsizing, there are numerous items you can sell to help clear up clutter and add some extra cash to your retirement.
One of the most important things to figure out when planning your retirement is where you want to live. This may mean selling your current home, which for most people is their most valuable asset. You can use the money to buy a smaller apartment, or use the money for rent and put any leftover money into savings accounts. Downsizing your home can not only save you money but also save you time and effort as you have a smaller property to maintain.
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Outside of the world of work, you no longer need to wear business attire in everyday life. Keep one suit for weddings and other special occasions and sell the rest. You can sell your clothes online at sites like Poshmark and thredUP, or at your local consignment store.
If you’re downsizing your home, you may run out of space for exercise equipment. But even if you plan to stay in your current home, you might consider selling your treadmill or exercise bike since other exercise options are available to you. For example, the SilverSneakers senior fitness program could be included in your Medicare Advantage plan, which allows you to visit select gyms and take fitness classes for free. In this case, you don’t need to store equipment that you can monetize instead.
Even when you’ve paid off your car, it can still be a big expense between gas, insurance, maintenance and repairs. If you and your partner each own a car, consider selling one of them. Even if you only have one car, it can be cheaper to sell it and use ridesharing or public transport to get around.
If you’re planning to move into a smaller apartment, it’s a good idea to sell bulkier pieces of furniture that you don’t have room for anymore. You can sell furniture through Craigslist or Facebook Marketplace, or to a consignment store or used furniture store.
Christmas decorations and other decorative items may take up space that you don’t have when downsizing into a smaller home. Consider holding a flea market to get rid of various decorative items that you no longer want or need.
If you upgraded your computer but were still clinging to your old computer, chances are it’s collecting dust when it could collect cash. You can sell your computer using Best Buy’s trade-in service and get a Best Buy gift card for its value, or you can sell it on an online marketplace like Flipsy.
Your children’s toys
If you’ve been holding onto your children’s toys for sentimental reasons over the years, now is the time to let them go. Some of these toys could even be considered collectibles. If that’s the case, you can make a lot of money selling them on eBay.
Books take up a lot of space and often sit on shelves, never to be read again. If a book has no sentimental value or you honestly think you’ll read it again, there’s no reason to hold onto it. You can sell books through Amazon’s trade-in program or to local bookstores that buy used books.
collectibles and antiques
Like books, collectibles and antiques can take up a lot of space that you may not have when you downsize your home. It’s okay to keep a few items of sentimental value, but consider whether those items would be worth more to you if you turned them into cash for your retirement savings.
Realistically, you probably won’t need more than one carry-on bag and one large bag per household member. If you’ve accumulated extra baggage over the years, now is a good time to sell it.
Handbags that you don’t use
As with luggage, you may have amassed a large collection of handbags over time – and you probably only use one or two of them. Handbags can have a high resale value, especially when they are designer brands. Hermes, Chanel and Louis Vuitton tend to hold their value or even increase over time, according to Who What Wear. You could even make a nice profit selling a bag with one of these tags.
It’s important to stay active in retirement, but you may not be using all the exercise equipment you own on a regular basis. If those skis have spent more time in your garage than on the slopes, maybe it’s time to sell them. If you end up needing sports equipment, you can always rent it.
Old Cell Phones
If you have old cell phones lying around and planning to downsize or move them, there is no point in taking them with you to your new place. Now is the time to sell. Depending on the phone’s age and condition, you can get hundreds of dollars for your used phone. You can sell your phone online through Best Buy Trade-In, Flipsy, Amazon Trade-In, Gazelle, and other sites
Other unused electronics
Many of the sites listed above also pay you for other electronic devices that you no longer use, such as B. Tablets and Apple TVs. If you have old electronics that just sit around doing nothing, make money by selling them.
CDs and DVDs
Streaming services have essentially replaced CDs and DVDs in many homes. If this is the case in your home, these items may just take up the space they need in your home. You can sell CDs, DVDs, video games and Blu-rays via Decluttr. Simply scan the barcodes of discs you no longer want and send them to Decluttr for free. Decluttr will pay you by PayPal, check or wire transfer.
Kitchen appliances you never use
When was the last time you used your juicer or pressure cooker? If you have small kitchen appliances in your home that you haven’t used in a year or more, consider selling them when you downsize.
Special occasion glass sets that you no longer use can take up a lot of space, so consider selling them as you approach retirement. Replacements Ltd. website buys crystal glassware in good condition, making it a convenient option if you’re looking to sell.
Fine china is another item that may sit unused in your home. You can also send china to Replacements Ltd. to sell.
Jewelry you no longer wear
If it doesn’t have any sentimental value, there’s no point in holding on to jewelry you never wear. You can sell your jewelry online at sites like Worthy, or to a local jeweler or pawn shop. To get the best price, have your jewelry appraised and then cleaned to keep it looking in tip-top condition.
Watches you no longer wear
There’s really no need to have more than one watch, so this is another item to consider selling if you’re downsizing in retirement. As with jewelry, the Worthy site buys watches.
Musical instruments take up a lot of space. So if you don’t play them regularly, you better sell them. You can sell your instruments at a pawn shop or through an online marketplace like Reverb.
If you decide to rent an apartment or move into a senior living complex, you no longer have to make repairs yourself. If that’s the case, you no longer need to keep many of your power tools.
If you are planning to move into an apartment or other space where you either no longer have a lawn or are no longer responsible for mowing, it is time to sell your lawn mower and other lawn equipment. You can sell your mower, leaf blower, edger and other lawn equipment on Craigslist or Facebook Marketplace.
Unless you’re an outdoorsy type, you probably don’t use tents, sleeping bags, and other camping gear around your home much. These items can take up a lot of space, so consider selling them before downsizing.
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This article originally appeared on GOBankingRates.com: 25 Things to Sell When You’re Ready to Retire