12 Things Every Pre-Retiree Should Sell Before Age 65

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Getting ready to retire means more than just planning your finances. It also means taking a hard look at all the stuff you’ve accumulated over the years and asking yourself what’s actually worth keeping. Some possessions cost you money every month, while others are just taking up space.

Before you turn 65, consider selling these 12 items to give yourself more financial breathing room and less clutter to worry about.

1. Your Large House

The house where you raised your family might be your biggest asset, but it could also be your biggest expense. According to Moody’s Analytics, nearly 6 million older Americans live in homes that are bigger than they need. And what does that mean? Well, often it means that they’re sitting on a lot of home equity that they can tap into for retirement.

Downsizing before retirement can mean lower maintenance costs, property taxes and utility bills. Plus, you can exclude up to $250,000 of capital gains on real estate if you’re single and $500,000 if you’re married and filing jointly, making now an ideal time to cash in on your home’s appreciation.

2. That RV Collecting Dust

Maybe you bought a recreational vehicle thinking you’d drive it all over the country. But if it’s been sitting in your driveway for months, you’re not alone. The big motorhomes can run anywhere from $100,000 to over a half-million dollars. And the purchase price is just the beginning.

You’re paying for insurance whether you drive it or not. Storage fees add up. Maintenance is expensive. Gas? Don’t even get started on how much these things guzzle. If you’re dreaming about road trips but rarely taking them, sell the RV and rent one for the occasional adventure instead.

3. Your Boat

Pontoon boats can cost between $20,000 and $90,000, and the bigger boats cost even more. But the real expense comes after you buy it. You’re looking at somewhere between $5,000 and $10,000 every year just to keep a boat, between the dock fees, winter storage, insurance and repairs. 

Most people also forget how much work boat ownership requires. You’ve got to prep it before every trip, clean it after and handle regular maintenance. Bad weather means you can’t even use it half the time. Unless you’re out on the water every single weekend, a boat club membership makes a lot more financial sense.

4. Extra Vehicles

Running a car can cost over $12,000 per year on average when you factor in everything from gas to insurance to repairs. If you’ve got two cars for two retired people, you’re basically throwing away money. Once you retire and aren’t commuting anymore, you’ll probably realize one vehicle is plenty. Try going without that extra car for three months and see if you actually miss it.

5. Timeshares

These vacation properties sound amazing when the salesperson is pitching them. Then you realize you paid $20,000 or more upfront, and now you’re stuck with maintenance fees that go up every single year. Those fees don’t stop just because you decided not to vacation there this year.

Want to sell? Good luck. The resale market is flooded with people trying to get out of their timeshare contracts, and almost nobody wants to buy. You’re usually better off cutting your losses and using vacation rental sites when you actually want to travel.

6. Side Businesses or Rental Properties

Sure, rental income sounds great in theory. But if you’re spending your weekends dealing with broken toilets and difficult tenants, is it really worth it? Side businesses can be equally demanding. Before you retire, think about whether you want to spend your free time managing these ventures or whether you’d rather sell them and invest the proceeds somewhere that doesn’t require constant attention.

7. Professional Clothes

Once you’re done working, you really don’t need 10 business suits. Apps like Poshmark, thredUP and TheRealReal make it easy to sell quality work clothes. Keep a couple nice outfits for weddings and other events, then sell or donate everything else. You’ll appreciate having closet space for clothes you actually want to wear.

8. Home Gym Equipment

Treadmills and exercise bikes are great until you realize how much space they take up. If you’re downsizing to a smaller place, that bulky equipment probably won’t fit anyway. Most towns have fitness centers with senior programs, or you could just walk around your neighborhood for free. Either option beats having a glorified clothes rack taking up half your bedroom.

9. Fancy Dishes and Glassware

When was the last time you actually used that China set? Or those crystal wine glasses? If they’re just sitting in a cabinet somewhere, sites like Replacements Ltd. will buy them from you. Unless you’re genuinely attached to these items, turn them into cash instead of dusting them for another decade.

10. Jewelry and Designer Bags

Jewelry you never wear is basically just money sitting in a drawer. Sites like Worthy connect you with buyers, or you can visit a local jeweler for an appraisal. Designer handbags, especially from brands like Hermès, Chanel and Louis Vuitton, often hold their value really well. You might even make a profit if you bought them years ago.

11. Collections You’re Over

Remember when you thought those Beanie Babies would be worth a fortune someday? Or that collection of commemorative plates seemed like a smart investment? If you’re holding onto stuff for its potential value rather than because you actually enjoy it, it’s time to let it go. Keep your favorite pieces if they make you happy, but sell the rest while people are still buying.

12. Old Electronics and Sports Gear

Your old smartphones might be worth a few hundred bucks through trade-in programs at Best Buy, Gazelle or Flipsy. Same goes for tablets and other gadgets you’ve replaced but never bothered selling. As for those skis gathering cobwebs in the garage or that tennis racket you haven’t touched in five years, list them online or donate them. If you suddenly decide to take up skiing again, rental shops exist for exactly that reason.

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