{"id":276103,"date":"2025-11-10T20:13:14","date_gmt":"2025-11-10T20:13:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/276103\/"},"modified":"2025-11-10T20:13:14","modified_gmt":"2025-11-10T20:13:14","slug":"top-5-things-the-middle-class-should-sell-before-retiring-even-if-its-begrudgingly","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/276103\/","title":{"rendered":"Top 5 Things the Middle Class Should Sell Before Retiring \u2014 Even If It\u2019s Begrudgingly"},"content":{"rendered":"\n

Looking to retire, but don\u2019t feel like you have enough money saved to do so? You might have to resort to selling some of your belongings to make retirement<\/a> make sense. Though it\u2019s not ideal, it can help provide that cushion you need to enjoy your golden years.<\/p>\n

Learn More: 7 Things You Should Own in Retirement, According to Kevin Lum<\/a><\/p>\n

Consider This: 5 Clever Ways Retirees Are Earning Up To $1K Per Month From Home<\/a><\/p>\n

Here are some items experts suggest middle-class retirees consider selling head of retirement<\/a>.<\/p>\n

Those looking to make a substantial amount of cash might suggest selling homes<\/a> that they own-including the one they\u2019re living in. Renting a place might ultimately be the cheaper solution.<\/p>\n

\u201cWhile that huge home may be Hallmark holiday-movie show worthy, it may come with higher fuel costs to heat and cool, higher maintenance costs, higher insurance costs and higher property taxes,\u201d Joe Buhrmann, the senior financial planning consultant at eMoney Advisor<\/a>, said.<\/p>\n

Buhrmann added that selling a home can really add to retirees\u2019 bottom lines.<\/p>\n

\u201cThe IRS allows taxpayers to shelter up to a portion of the gains in their home sale. The profits or savings from reduced expenses can shore up your retirement,\u201d he explained.<\/p>\n

Find Out: Here\u2019s How Much You Need To Retire With a $100K Lifestyle<\/a><\/p>\n

Kevin Marshall, a certified public accountant (CPA) and lead contributor at Smithii Tools<\/a>, added that second homes can definitely hold people back financially. Selling might be a good option, even if it means not having a vacation house.<\/p>\n

\u201cI\u2019ve worked with clients who held onto a lake house or timeshare for years, using it only a few weeks each season, while paying thousands in property taxes, insurance and maintenance,\u201d Marshall said. \u201cSelling a property like this can release a large lump sum and eliminate ongoing costs, turning a financial drain into a tool for security or new opportunities.\u201d<\/p>\n

If you have more than one car or don\u2019t use the one you have often, selling it could be a good idea. You not only make money from the sale, but save on the maintenance a vehicle requires, and most likely, the car you\u2019re left with will last a very long time.<\/p>\n

\u201cWe all love the look, feel and smell of a new car,\u201d Buhrmann said. \u201cBut it comes at a high opportunity cost. Decades ago, cars didn\u2019t last as long. Today, cars are built better, safer and tend to last longer.\u201d<\/p>\n

For those who perhaps inherited expensive items, visiting a consignment shop or selling them online<\/a> could bring in a significant amount of money.<\/p>\n

\u201cThese items often sit unused while carrying significant value,\u201d Marshall said. \u201cI\u2019ve had clients sell a few pieces from a lifelong collection and use the proceeds to travel, pay off debt or fund home improvements they\u2019d been putting off.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Looking to retire, but don\u2019t feel like you have enough money saved to do so? You might have…\n","protected":false},"author":2,"featured_media":276104,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,160207,159591,160206,184,185,136343,160205],"class_list":{"0":"post-276103","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-finance","12":"tag-insurance-costs","13":"tag-kevin-marshall","14":"tag-maintenance-costs","15":"tag-personal-finance","16":"tag-personalfinance","17":"tag-property-taxes","18":"tag-selling-a-property"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/276103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=276103"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/276103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/276104"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=276103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=276103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=276103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}