3 Things Retirees Should Consider Selling To Build Their Savings
Written by
T. Woods
Edited by
Amen Oyiboke
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These are uncertain financial times, and many folks worry about and struggle with saving for their retirement years. Those entering into retirement may be shocked — or horrified — when checking the balances of their retirement and savings accounts. That said, there are ways to shore up your retirement savings once you leave the workforce and enter into your golden years.
One of the quickest and easiest methods to make money and build up your retirement savings is selling stuff you can live without. Indeed, there are likely a myriad of items lying around your house — including your house itself — that you could do without, and can net you a healthy chunk of change to go toward your retirement savings.
Your Car
As SeniorLifestyle.com noted, if you live in a city with accessible public transportation, that can be a great means to get exercise (walking to and from your nearest public transportation stop), it lessens your environmental footprint and you finally are free to escape the stresses of driving yourself through traffic.
All you have to do is sell your car. Doing so will add a very healthy figure to your bank account, and benefit your life in ways far beyond the financial realm.
Your Antiques
As stated in a former GOBankingRates article, “you could be sitting on a gold mine and not even know it ….” as certain collectibles and antiques in your home “such as old comic books, coins, furniture and cultural memorabilia” might just be worth quite a lot of money without you even knowing it.
Take a day to dig through your attic, basement and closets — you never know when an old comic book you bought decades ago, or a trinket you purchased at an Olympics event, might be worth hundreds or even thousands now.
Your Home
A recent Medium.com post laid out why your home might be more of a liability in retirement rather than a benefit. Sure, you may have raised a family there and made treasured memories, but with a large house in retirement comes such things as property taxes, home maintenance, cleaning and more.
Selling a house in the current market can net you a large amount of money with which you can travel or build a financial safety net. Additionally, having a smaller home or apartment can rid you of several life stressors, giving you far less to maintain and care for.
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