Retiring is exciting. A new chapter of your life is about to happen. But look around; you might have some items you just won’t need now that you’re not working. It’s time to get rid of them. Here are 18 things to sell when you retire. Selling items can also be a step towards exploring various retirement business ideas.
If you're still living in your big family home, it might be time to downsize. Why are you hanging on to your big house if all your adult children are gone? Go smaller and you’ll have fewer responsibilities, plus you'll save on taxes, utilities and upkeep. Or you might even want to live in a condo or retirement community. These are all options once you sell that big house. Research findings from Boston College's Center highlight the significant financial benefits of downsizing, making it a smart financial move.
You’re not working anymore. You don’t need all those, jackets, ties and slacks. And do you really need those dresses and high-heeled shoes? Keep a few things for special outings and sell the rest. It’ll make more room in your closet and fill your wallet. Selling your work clothes can also be a step towards starting a consulting business or could lead to other retirement business ideas where you're able to leverage your professional experience.
Do you and your spouse have a car? Consider selling one since you no longer have to go to work. If you can get by with one, it makes sense to be a one-car household, especially if both you and your spouse have retirement plans and schedules that are aligned closely with each other.
If you're downsizing, you don't need all that furniture and you most likely don't want it sitting in a storage unit, either. This is especially true of the big bulky pieces. You can always hang on to a few pieces but it might be time to move on from your old furniture and put it up for sale. Go through Facebook Marketplace or websites like Chairish. Or have a garage sale. Getting rid of furniture is a great way to also bring in some extra money once you hit retirement age.
Have you ever used your exercise equipment? If the answer is no, then it's time to sell it. If you’re downsizing, it's an opportunity to make some money. It could also make more sense to look into a gym membership instead of having big, bulky items taking up too much space.
If you’re an avid reader, you might have a bunch of books piled up on a shelf or in a closet. This is the time to get rid of them. Even if you’re not moving to a smaller place, why not make a little extra cash?
Books without collectible value can also be donated to the local library. Many retirees have also taken up streaming services to listen to or to read books.
Do you really need a set of 12 plates or other dishes? What about that giant roaster? Are you planning on using it? These are items that you can sell to help fund your retirement. Or, if you're downsizing, it’s one more thing you don’t have to move.
If you move to a smaller place, what will you fix? Power tools fetch a good price; if you're not using them or won't be using them, it's time to let go and earn some cash.
Do you really need all those holiday decorations or home décor? These items take up space and won't fit in your new home if you're downsizing. Even if you're not, it'll free up space and declutter the house.
Did you just buy a new computer? Consider selling your old one to Best Buy. They have a trade-in service that gives you a gift card for your old computer. You’ll get it out of your house without throwing it away.
Selling your old computer can also help fund the start of an online business, such as setting up a website to sell goods or services, offering virtual tutoring, or utilizing the dropshipping business model.
Do you still have some toys in the attic or closet? It’s time to let go. Even if you’re not downsizing, you can make a little money selling toys online, at garage sales, or on Facebook Marketplace. You’ll like the extra cash, and you’ll clear out some space. If you’re downsizing, it’s a great way to get rid of stuff.
Selling toys online can also be the first step towards starting an online store.
You've probably been given many gifts that are gathering dust around the house. Or they may have been packed away. Now's the time to clear them out of your house. Some of them might have some value and will fetch a lot of money. Even if they don't you can sell them at a garage sale or online. Unless you absolutely must keep something, sell it.
Do you have multiple pieces of luggage hanging around? Even if you plan on traveling, keep only what you'll realistically need. That means keep one large suitcase and one carry-on bag. The rest can be sold.
If you’re moving into a condo or retirement community, you don’t need an edger or lawnmower. Put them on Facebook Marketplace or sell them at a garage sale. Craigslist is another platform to sell your equipment.
Selling lawn equipment may also involve making trips to the post office for shipping.
Do you really need all that costume jewelry or cufflinks? Unless it really has sentimental value, sell them online, like eBay or at a garage sale. Someone will want them and you’ll both get rid of them and make some money.
Are you going camping again? Do you need that tent, or are you buying an RV? If you don't plan on ever using it again, sell it if it will free up space. And if you're downsizing, you really don't need it. Camping equipment is popular, and you can make some money.
Do you still play? Or maybe your kids left them with you and they don't play anymore. If no one uses them, there's a chance of making some cash. Sell them online or take them to a pawn shop.
Do you plan on using your timeshare? If you don’t think you’ll want to go to the same place every year, you might want to consider selling your timeshare. Map out what you spend to maintain the timeshare and how much you actually use it. You may find it’s a waste of your money. Contact a real estate agent that specializes in timeshares. Selling your timeshare can free up funds for short-term housing options for a few weeks while traveling.
You don’t realize how much stuff you have until you start taking inventory. Look around, write down everything you have, and then price it and sell it.
Selling items can also be a step towards becoming small business owners, allowing retirees to leverage their experience and skills. Additionally, exploring life coaching opportunities can provide guidance and support for personal development, work-related issues, and relationships.
