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Amid uncertain financial times, many people are struggling to save for retirement. People entering that stage of their lives may be shocked – or horrified – when checking the balances of their retirement and savings accounts.
Of course, there are still ways to achieve retirement after leaving the workforce. The quickest and easiest way to increase your savings is to sell stuff you can live without. There are likely countless items lying around your house – including your own home – that you could do without. See several possible options below for most interested retirees.
1. Your car
If you live in a city with accessible public transportation (walking to your nearest public transportation is a primary example), selling your car can be a great means of getting more exercise. Doing this will add a very healthy figure to your bank account, and will benefit your life far beyond the financial realm.
This move can not only free you from the stress of driving yourself through traffic on a daily basis, but it will also reduce your environmental footprint.
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2. Your antiques
Everything like furniture, coins, art or even old books or magazines lying around your house may be worth more than you realize. By spending a day rummaging through your attic, basement and closets, you’d never know what collectibles and antiques you purchased decades ago might now be worth hundreds or thousands.
3. Your home
Your home may be more of a liability than a benefit in retirement. Sure, you may have raised a family there and made treasured memories, but with a bigger home comes property taxes, home maintenance, cleaning, and more.
Selling a home can give you a large sum of money that can help you travel or create a financial safety net. Additionally, having a smaller home or apartment allows you to get rid of many of the stressors of life, leaving you with much less time to maintain and care for.
Caitlin Moorehead contributed reporting to this article.