Determining your desired place of residence is a crucial step in retirement planning. Selling your current house, which is typically people's most valuable asset, might be necessary to do this. You could pay the rent with the money left over and save the rest, or you could use it to purchase a smaller home.
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You are not required to wear professional clothing in your daily life once you leave the workforce. Sell the other suits and save one for important events like weddings. You have two options for selling your clothing: consignment stores nearby or online at places like thredUP and Poshmark.
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You might not have place for exercise equipment if you decrease your home. However, if you have other options for working out, you might think about selling your stationary bike or treadmill even if you intend to remain in your current home.
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Your automobile might still be a significant financial burden even after you've paid it off because to gas, insurance, upkeep, and repairs. Sell one of your cars if you and your partner both own one. Selling your car and using ridesharing or public transit could be a more cost-effective option, even if you just own one.
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It is a good idea to sell larger furniture pieces that you won't have place for if you intend to downsize. Furniture can be sold on Craigslist, Facebook Marketplace, consignment stores, or used furniture stores.
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If you move into a smaller home, room may be taken up by holiday decorations and other décor pieces. If you have any odd pieces of décor that you no longer need or want, think about having a yard sale.
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If you kept your old computer around even after upgrading, it's probably gathering dust when it might be earning money. You have two options for selling your computer: sell it on an online marketplace like Flipsy, or sell it to Best Buy through its Trade-In program and receive a Best Buy gift card for its worth.
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It's time to go with your children's toys if you've kept them over the years for sentimental reasons. It's possible to classify some of these toys as collectibles. If so, selling them on eBay will bring in a sizable profit.
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