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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years Trusted by 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 Here are some items experts suggest middle-class retirees consider selling head of retirement<\/a>.<\/p>\n Homes\u00a0<\/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<\/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 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 Cars\u00a0<\/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<\/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 Designer Items\u00a0<\/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 Household Items\u00a0<\/p>\n Look around your house: Are there items you can part with? In that case, Marshall suggested selling them. You never know how much you\u2019ll make. <\/p>\n \u201cSelling surplus furniture, appliances or rarely used equipment not only declutters but can also help fund moving costs or home upgrades,\u201d he noted. <\/p>\n Investments\u00a0<\/p>\n What you sell doesn\u2019t have to be limited to tangible items. <\/p>\n \u201cIt\u2019s worth looking at investments that aren\u2019t performing as expected,\u201d Marshall recommended. \u201cSelling underperforming stocks or high-fee funds and reallocating the money into better-performing or tax-efficient options can increase retirement income<\/a>.\u201d<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"spawns \/ iStock.com Commitment to Our Readers GOBankingRates’ editorial team is committed to bringing you unbiased reviews and…\n","protected":false},"author":2,"featured_media":274584,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,11915,131,132,12699,1705],"class_list":{"0":"post-274583","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-finance","12":"tag-gobankingrates","13":"tag-personal-finance","14":"tag-personalfinance","15":"tag-planning","16":"tag-retirement"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/274583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=274583"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/274583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/274584"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=274583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=274583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=274583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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