We all could use a little extra money these days. One way retirees can put more money in their pockets is by selling items they no longer need or use.
An article by Investopedia explores how downsizing during retirement can help simplify your lifestyle, lower expenses, and even create extra income. It suggests five things that retirees can sell when downsizing to a smaller home to strengthen their retirement savings:
Furniture – You might find yourself with furniture you no longer need or have space for. If it’s in good condition, consider selling it at a local consignment shop or on sites like Facebook Marketplace.
Electronics – Retail stores like Costco and Best Buy accept some used electronics, like laptops and cell phones, usually paying you with store credit or gift cards.
Exercise equipment – You may want to sell your treadmill or exercise bike and invest in a gym membership. Many health clubs offer senior discounts. They also promote socialization, which is important as you age. Besides exercise programs, health clubs also have classes in nutrition, cooking, healthy aging, and more.
Work clothes – Good quality suits and separates can be sold to earn back some of the money you invested in work attire. The article suggests using sites such as eBay, Poshmark, or Mercari. If you have designer clothes, handbags, and accessories, you can sell them through websites like The Real Real.
Children’s toys – When downsizing, you might discover closets filled with children’s toys. Instead of tossing them, take some to a local children’s consignment store and see if you can make a little cash – just make sure they are in good condition, with no broken or missing pieces.
Council of Seniors is Here to Help Older Americans
All of us here at the Council of Seniors want to improve retirees’ financial futures and ensure they receive their full Social Security benefits. We are working with members of Congress to introduce the “Social Security Restitution Act.” It would provide an estimated $970 one-time payment to every retired worker receiving Social Security benefits to help offset years of inadequate cost-of-living adjustments.
Please take a moment and sign our petition today to show your support.