5 Things To Sell When You’re Ready To Retire

For many people, moving onto a new chapter of their lives and retiring requires downsizing. You won’t need many things in retirement anymore, so it’s worth it to put them on the market to make a few bucks. 

Below, we list some things to sell when you’re ready to retire.

Large Family Home

When many people finally retire, they still live in the same house they raised a family in. But once the kids have moved out, they have tons of extra space they don’t need. 

Maintaining a large family home, especially as you age, becomes challenging and more of a burden. Instead, retirees should consider downsizing to a more manageable home—perhaps somewhere in a warmer climate to better enjoy retirement. 

You can use the money from the sale toward your new home.

Unused Vehicles

Along with a large family home, many of those on the brink of retirement also have more than one car. Along with downsizing your home, you should also consider downsizing your fleet of vehicles. 

Now that you’re retired, you don’t need to go to as many places, and instead of two older cars, you can trade them in for something newer, better, and easier to manage.

Excess Furniture

Since you’re downsizing your living space, you’ll likely also have to downsize your furniture collection. This is another opportunity to mark a new chapter in your life by getting rid of your old stuff for cash that can go toward your new retirement lifestyle. 

If you can’t sell that old couch or broken recliner in your basement, try giving it away, or it may be time to kick it to the curb.

Collectibles

Another thing to sell when you’re ready to retire is any collectibles you’re no longer interested in. If you’ve got a collection, whether it’s stamps, magazines, or whatever else, now is probably the best time to cash in after years of collecting. 

If you’ve got a stack of trading cards collecting dust, consider selling your baseball card collection to clear some space and put extra cash in your pocket for retirement.

Old Electronics

Every home seems to have a drawer, cabinet, or shelf somewhere full of old and outdated electronics. Whether you’ve got an old laptop, television, cell phone, or tablet, now’s the time to get rid of it. 

You might have some success selling them online, but there’s always the option to take your old electronics to an electronics store. 

Many offer trade-in programs so that you can put your old stuff toward some new equipment and gadgets for retirement.

Retirement means a new chapter in your life, which often means parting ways with things you’ve kept and collected over the years. 

Selling your old stuff and putting the money toward retirement can be immensely lucrative and satisfying!

Are There Financial Benefits of Retirement Communities?

Retirement communities present not just a change of scenery but a new lifestyle that’s rich with potential financial advantages. Although it may not seem fiscally responsible at first, several financial benefits of retirement communities exist.

This post will help you discover a few of them when you’re ready to settle down.

Eliminating Home Maintenance Costs

Taking care of our homes becomes more of a hassle as we age. We must hire lawn care services and contractors to complete home renovations and repairs.

Living in a retirement community waives the financial burden of hefty home maintenance expenses. The community absorbs these costs, leading to potential savings and removing the unpredictability of sudden large costs.

Improving Your Savings by Downsizing

Downsizing in preparation for retirement is a practical strategy that can lead to substantial financial savings. By selling a larger home, retirees can often invest in a smaller residence within a retirement community at a lower cost, freeing up a substantial sum of money. 

They can then use this equity to supplement their retirement savings or cover living expenses.

Furthermore, several home loan options are available for retirees. All you will need is information for qualifying for retirement mortgages for the downsizing endeavor.

Saving Money on Entertainment

Retirement communities offer a plethora of on-site entertainment options. Rather than spend your money on expensive outings, you can save your earnings while enjoying the entertainment amenities offered in the community.

Plus, the proximity of these activities eliminates transportation costs. Each nearby entertainment option included in the community contributes to a fulfilling retirement lifestyle without depleting your funds.

Reliability of Upfront Costs

The primary financial benefit of retirement communities is the lack of hidden fees or costs. This predictability allows retirees to plan their finances effectively when it’s time to downsize. 

These fees typically include an entrance fee, which might cover the resident’s living space and access to amenities, and ongoing costs, such as monthly service fees.

Predictable upfront costs also negate the unpredictability of expenses that come with private home ownership, such as fluctuating property taxes or unexpected repair costs. 

While the upfront costs may seem high at first glance, it’s crucial to factor in the long-term savings that retirement communities can provide. A retirement community could be a favorable option to consider if you seek financial stability.

5 Ways to Make Downsizing Homes Profitable Instead of Painful

As we age, we realize that the home we’ve been living in for years may no longer suit our needs. Perhaps it’s too big or has become too difficult to maintain. The thought of downsizing may initially seem painful, especially if the memories of our family are attached to it.

However, downsizing can be an opportunity to simplify our lifestyle and even increase our financial security. 

Read on for five ways to make downsizing homes a profitable experience rather than a painful one.

Start Early

If you’re considering downsizing your home, start planning early. Start by decluttering and sorting through the things you no longer need or want. 

Downsizing means letting go of things you’ve held onto for years, so it’s best to start sorting things out at least a few months before you move.

Create a Floor Plan

Once you have found a new place, create a floor plan. This will help you determine what furniture will fit in the new house and what won’t. 

By creating a picture of how your furniture will fit, you’ll save yourself time and money as you won’t be moving items that are not required.

Reevaluate Space Elsewhere

If you’re moving into a new space that has a smaller garage space, consider what tools or vehicles you still need. A new home can bring many expenses, including repairs and maintenance, so selling an older car can easily offset those expenses. 

Not only will you free up garage space, but you might also earn some extra cash. If you’re holding onto a car for an adult child, consider either selling it to them or getting cash for junk cars before you move.

Utilize a Professional Mover

Hiring a professional mover to help move and downsize is an excellent idea. Not only will they take care of packing and moving, but they might also provide storage solutions for items you can’t fit in your new home. 

Hiring a professional will help reduce the stress of moving and ensure that your goods are transported safely and efficiently.

List Your Home with a Professional Realtor

If you want to sell your current home, it is best to list it with a professional Realtor. A realtor will help you to maximize your home's value and market your home to potential buyers. 

They can also give you insights into the real estate market, which can be beneficial when searching for your new home.

Final Thoughts

Remember, downsizing can be a challenging process. However, you can make it a profitable and stress-free move by being prepared, creating a floor plan, decluttering, utilizing a professional mover, and selling an older car. 

By following these tips, you can trade the pains of downsizing for profits and a new, more relaxed lifestyle. So, downsize and discover a more comfortable and simplified living experience.

Tricks for Seniors to Move Houses Safely and Cheaply

As you age, moving houses can be a daunting task. It requires a lot of physical effort and can be emotionally overwhelming, especially if you have lived in the same house for many years.

However, moving to a new home can also be an exciting experience and an opportunity to begin a new chapter in your life. This blog post will provide some tricks for seniors to move houses safely and cheaply. 

These tips will make the moving process smoother and less stressful for you.

Plan Ahead

Moving houses is a big project and requires careful planning. Start planning early so that you have enough time to sort through your belongings and decide what you want to take with you and what you want to discard. 

Make a moving checklist that includes all the tasks needed, such as notifying utility companies, packing boxes, and hiring a moving company. This will help you stay organized and on track.

Declutter

Moving houses is an excellent opportunity to declutter your house. Decide what items are no longer necessary or useful and get rid of them. Donate items to charities or have a garage sale. 

This will help you reduce the amount of stuff you need to move, saving you money on packing supplies and moving costs.

Hire a Professional Moving Company

Hiring a professional moving company, like Modern Moving, can make the moving process safer and more efficient. Look for a reputable mover that has experience moving seniors and is familiar with the unique needs of seniors. 

The mover should be licensed, insured, and able to provide references. Be sure to get estimates from at least three moving companies to compare prices.

Consider Downsizing

Moving to a smaller home can be a smart move for seniors. It can reduce the cost of utilities, property taxes, and maintenance. You will also have less space to clean, which can make cleaning easier and faster. Downsizing can also relieve you of the burden of maintaining a large house and yard.

Take Care of Yourself

Moving can be physically and emotionally taxing, especially for seniors. Be sure to take care of yourself during the moving process. Get plenty of rest, eat well, and stay hydrated. 

Ask for help from family and friends if you need it. Making sure that you take care of yourself will make moving houses a much more pleasant experience.

Moving houses can be a daunting task, especially for seniors. However, moving can be less stressful, safer, and cheaper with careful planning, decluttering, hiring a professional mover, downsizing, and taking care of yourself. 

It may take some effort, but moving to a new house can be a great opportunity to start fresh and begin a new chapter in your life. Hopefully, the tips in this blog post will help you with your move and make the process smoother and more enjoyable.

Reasons to Consider Moving Homes as You Get Older

Living in a large house is essential when you are young and have a large family. This ensures that you are not all cramming into a tiny space. 

However, you’ll not need too much space when your children grow and move out. Besides downsizing being a cause to move homes as you get older, here are other reasons.

House and Yard Maintenance

Undoubtedly, being a homeowner is an amazing experience. You’ll get to do all that pleases you without thinking about what your neighbors think or see. 

The downside, however, is the commitment that comes with it. There are walls you’ll need to paint, broken fixtures that need repairing, and cutting grass. As you get older, these responsibilities become too much to interfere with your lives. 

You’ll reduce the amount of work around your home and yard by moving homes. With this, you’ll have enough energy and time to do what you enjoy.

Being Close to Family

When you are young, you strive to have a better lifestyle or better climate, and this might lead you to move away from home. However, one of the precious things you’d want closer is your family as you get older. 

You want to spend time with your kids and grandkids and enjoy the special events together. Since family is one of the most valuable treasures in the world, moving homes as a senior should be a priority.

To Have a Social Life

Notably, humans are social beings and thus need connection with other individuals to thrive. As stated above, your kids will move out at some point, making you susceptible to social loneliness and isolation. 

This could easily lead to health problems such as depression. Moving homes to a community close to your peers is ideal for preventing this. 

In such a neighborhood, you’ll engage in productive activities with the residents, which will boost your mood. A realtor, like those at Lifestyle Properties at Keller Williams Realty will help you find a neighborhood suitable for you.

Memory Issues

Forgetfulness is a normal part of aging. As you age, many changes occur in your body, including your brain. As a result, you’ll not remember certain information clearly as before. With the increase in memory issues, moving to a good home would be safe.

As you get older, your body undergoes numerous changes. Thus, you’ll have difficulty remembering some things and performing strenuous duties. To have a comfortable life even at an old age, moving homes is undeniably a good idea.

4 Steps Seniors Should Consider When They Want to Downsize After Retirement

Downsizing is a great way for you to simplify your life and potentially save yourself some money, but that project is easier said than done. If you have recently retired and are ready to downsize, then you need to come up with a long-term plan that is going to streamline that process.

Cleaning

When it comes to any move, decluttering is always going to be one of the most important steps. Spending a little bit of time cleaning up your home and the rest of your property is going to make each following step that much easier. 

If you own the home and plan on selling it, then you might want to consider getting it professionally cleaned as well. Professional cleaning services are very affordable, and they could save you quite a few hours of work and get a deeper clean than you might be able to get.

Categorizing Your Belongings

Once your home has been cleaned, it is then time to begin the process of categorizing all of your belongings and decluttering. While that task might seem daunting, you can turn each room into its own separate project, going as quickly or as slowly as you need. 

As you go through your possessions, you should break them up by items that should be thrown out, given away, sold, and kept.

Finding the Ideal Living Arrangement

After you have gone through your entire home and all of your possessions, it will be much easier to determine exactly what kind of new living arrangements you are going to need. 

For example, you might be looking for an apartment or condo if you don’t want to deal with a lot of space or yard maintenance. If you expect to have family over regularly, you might want something with a little more space.

Instead of looking for a new home on your own, you should consider working with an experienced real estate agent who understands the local market. 

Explain to them exactly what you’re looking for in terms of location, space, maintenance, and other considerations. As long as you start your search early on, you will have plenty of time to find the perfect living arrangement.

Preserving the Items You Want to Keep

Even if you are able to get rid of a sizable portion of your possessions, you will still probably need to put at least some of your belongings in storage. 

Many people are surprised to hear that quite a few everyday items require climate-controlled storage so that they don’t become damaged. Luckily, those units are often fairly inexpensive if you sign an annual contract.

Older adults who are getting ready to retire and downsize should try to start this process as early on as possible. Downsizing is going to be easier and less stressful if you take the first steps a few years before you plan on retiring and moving to a smaller residence.

Why You Should Consider Buying a House After You Retire

For many, they believe that they should buy a home before they ever reach the age of retirement. However, this isn't always the best route to take. Rather, there are many reasons that you may want to wait until after you retire to buy your house.

You Know What You Want

As you age, you start to realize that there are things that you now want that you never would've thought about wanting 10 years ago. For this reason, it's a smart idea to wait until you retire to buy your home. 

You will have a good idea of what you actually want in a home and what you don't. You'll have years of experience under your belt that will help in your buying decision.

You Know Your Budget

A big part of buying a home is affording the expenses that come along with it. For most, this starts with the mortgage payment. However, you must consider insurance, taxes, and maintenance. While you can get an idea of what your budget is before you retire, you won't know for sure until you get there. 

This is why you shouldn't start looking for single family homes until you know exactly what your monthly budget will be. This way, you can ensure that your home payments stick within your necessary budget range.

You Know Where You Want to Live

Throughout your career, you and your spouse may have traveled to different cities. You may have just moved across town. Either way, you have gotten a feel for what area you feel most connected to. When you retire, you won't be tied down by the location of your job. You can purchase a home in any area that you enjoy being in.

You Can Save Up a Sizable Downpayment

Houses are expensive for everybody. If you decide to wait and purchase one after you retire, you give yourself adequate time to save up a good chunk of change. For some, this may be saving up money for a sizable downpayment. 

For others, their savings may be enough to purchase a new home straight out. Either way, waiting to purchase a home until retirement can give you adequate time to save up money for the buying process.

While most think of buying a home in their early adult years, that tide is changing. The reasons above are just some of the many that it makes sense to wait until after you retire. 

If you've been contemplating whether or not it's time for you to purchase a home, hopefully, we've given you some necessary insight into the matter.

Downsizing to Keep Your Adult Kids Out

At present, having your 21- to 35-year-olds living back at home is becoming normal. As of July 2020, 52 percent of 18- to 29-year-olds were living with their parents based on a September 2020 analysis of data from Pew Research Center.

The majority of parents have good intentions and openly take their adult children back home represents helping them handle a temporary situation to save money, reduce their debt or get a stable well paying job.

But if the returning adult child continues to remain beyond the time limit, the new situation can be much more than just a small inconvenience, health specialists claim. 

Young adults who neglect to establish progress at their job, brush aside multiple opportunities they are presented with can negatively affect Mom and Dad's finances, postponing any arrangements to scale down and decrease retirement savings.

This puts further burdens on parents from the ages of 50s and up. So, you should understand the odds are very high that you're going to have less money when your adult child returns home.

If you're expecting your 20- to 30-something child to return home or you've had enough of them repeatedly returning every few months and want them to become more self-sufficient, here's what you should do.

• Establish expectations early.
• Make it somewhat uncomfortable by not having a spare bedroom.
• Don't allow it to repeat.

Consider downsizing your home

Downsizing is the term for moving from a larger home into a smaller-sized home typically with less maintenance. For some people, this means a home with less land (grass, bushes, trees) to maintain or a home with less square footage and fewer unused rooms.




Downsizing occurs frequently for parents whose children are grown and left home. There is no longer a need for one or two spare bedrooms, being near to schools, or having a large yard. This group of homeowners commonly switches to a home that best suits their new lifestyle and for the rest of their lives.

The process is quite simple, you'll sell your home and move into a smaller home that costs less than your existing home. The proceeds from the sale of your current home can be used for living expenses, or a portion can be put into a money market account and instantly available for any investment opportunities that may arise.

This strategy may give you some flexibility if you buy the new home with all cash. You can also simply refinance your home, get a line of credit or apply for a reverse mortgage to help you. Each of these options sounds like a win-win.

The best thing to do is to figure out how much will be put down on the next home you're buying or the maximum amount you'll pay for rent, and how this will affect your monthly cost. Consult with an expert such as a financial advisor or estate planning specialist.

4 Times When It's Financially Smart to Downsize Your Home

Many people who are going through a financial struggle, don't tend to think about their living arrangements. They think that because they have a house loan that they're unable to switch. The truth is that downsizing to a smaller home is a great financial move in these types of situations.

You Get A Job With Lower Pay

Whether you've been let go of an old job or simply have decided that your passion is in another field, taking a job with a lower pay maybe something you've decided to do. Along with a lower paycheck comes a smaller budget. Downsizing to a home that has a monthly payment that you can afford is a necessary option to keep your finances in order.

You've Gone Through A Divorce

If you've been through the long-drawn-out process of divorce proceedings, you may fret at the thought of undergoing more paperwork for a mortgage. However, the reality is that without two paychecks supporting the mortgage, you may not be able to do so on your own. 

Even if you can, you may find that you don't want to commit that big of a portion of your paycheck to your monthly mortgage payment. Downsizing to a smaller home with a smaller mortgage payment may be the best financial option for you.

Your Housing Expenses Have Surpassed 30 Percent Of Your Income

The U.S. Government has been utilizing 30 percent as the magic number of what a person's housing expenses should be. If you noticed that your housing expenses exceed this threshold, then it's a good time to consider downsizing. 

According to government standards, anyone paying over 30 percent for housing expenses is financially burdened. Consider moving to a luxury apartment community instead to decrease your housing cost, but still, enjoy living in a fun environment.

You Can't Afford Regular Maintenance

If you find yourself struggling to afford those costs associated with household maintenance, then it's time to consider downgrading. You don't want to live in a home that you're unable to maintain as your home will begin to deteriorate and more costly issues will inevitably crop up. Instead, move into a smaller home that allows you to afford the regular costs associated with maintenance.

Downsizing to a smaller home can be a very strategic financial move for many. The above are just four common scenarios that scream it's time to downsize. The truth is that downsizing can be so beneficial for people on a financial and mental level. It's best to take downsizing into consideration instead of pretending that it's not a possibility to enhance your financial state.

4 Ways Decluttering Your Home Literally Pays Off

Decluttering your home brings peace of mind. Your efforts to get rid of extra junk will reward you both financially and psychologically. Fortunately, there are many well-documented ways that decluttering pays off.

Getting rid of excess possessions reduces or eliminates storage costs

If you drive around any large metro area, you’ll notice a large number of storage units. Obviously, there is a large demand for space by people who have more possessions than will comfortably fit into their home. Many storage units cost $100 or $200 a month.

By downsizing and decluttering, you won’t have to continue paying for storage space. This simple action can easily save you a thousand dollars or more per year.

Find your bills on time so you don’t pay things late

Anyone who has ever forgotten to pay a bill because it was lost in a sea of disorganized clutter knows the frustration of paying hard-earned cash in penalties and interest because you simply have too much junk sitting around. Being disorganized is not only stressful, but it is also expensive in terms of wasted money and time spent searching for lost mail and papers.




It is truly amazing how easy it is to change this type of situation once you start clearing space and getting rid of excess junk. Important paperwork can be the easiest thing to lose in a sea of clutter.

You call to sell or donate the stuff you don’t need for cash

The most obvious way you can make money from decluttering is to sell your excess stuff. You can sell an iPhone in Canada or unused laptops and have an extra $200 dollars in your pocket in a cool 24-hour period. Garage sales are another time-tested method for selling off unwanted items to neighbors.

Another way to cash in on your extra stuff is to donate it and take a tax deduction. If your tax bracket is high enough, you can sometimes save as much money in taxes as you would selling it outright and with less hassle.

You no longer have to buy replacement items because you can’t find what you need in the clutter.

It is a rare person who hasn’t gone out to spend money on something they needed because they couldn’t find it at home. Buying duplicates is expensive. Organized people don’t have to do that.

There is no time to waste. Decluttering is a simple way to improve both your financial standing and lifestyle. There is no logical excuse for dealing with the substantial stress experienced every time you waste your time hunting for something you need and can’t find.

Why It's Never Too Early to Downsize

Downsizing, for some over 50 it is an act filled with dread as it seen as a harbinger of old age. But for others, the act of letting go is a sort of new-found liberty and therefore more and more people in their pre-retirement years are actively downsizing. If this interests you, then read on as there are some reasons why it is never too early to downsize.

The Case Against Procrastination

As mentioned, the act of downsizing is seen by many as a sign of aging and for that reason is it largely put off. Let’s face it, most of in our 50’s feel no different than we did in our 40’s or 30’s. Sure, we might not be as full of youthful exuberance as we were in our teens, but it's not like we feel that much older.

This is the reason why most of us put off letting go of the things we have accumulated over the years. But this procrastination can have consequences. Not only does putting off downsizing risk letting others handle the task for you, it also means that you end up spending your life in a sort of museum, instead of freeing yourself and enjoying your golden years.

Given this, it is better to go through your things and start to decide what to keep and what to let go of. Beyond this, you might even decide that some of the items you want to keep might better leave in storage for your grandchildren or some other occasion. For example, if you live in New England, then you might want to make use of a storage company in Boston to hold those items you don’t need but aren’t quite ready to let go of.

Beyond this, let’s look at how downsizing can help you enjoy your life.

Starting Early Allows You to Take Your Time

Sifting through a life’s worth of knick-knacks can be time-consuming. As such, you are better served by breaking the task into smaller bits, by starting with one room and then taking a short break before moving onto the next.








Two questions you should ask yourself along the way is whether you have used the article you are considering letting go of in the past six months, or if you will need if over the next year. Doing so will help to give you some perspective on what you need to keep around.

Beyond this, starting early means that you can have discussions with your loved ones on what you want them to do with the items you are leaving to them. This could include family photos, books, and heirloom items – some of which might have been in your family for generations.

Another bonus to downsizing in short bursts is that you can time these activities to when family members come to visit as this is a perfect time to handover items you don’t need but you want to keep in the family. Granted, you might not want to involve your guests in this ‘chore’ but prepping for a visit can give you a much-needed deadline to work towards.

Eliminate Bickering

In some cases, your kids, or grandkids, might want some of your stuff, but in other cases, they might not. As such, starting early can help you do better determine who gets what. This will eliminate the family quarrels which are bound to crop up when someone decides it is time to downsize.

The same is true when you are holding onto mementos from when your children were younger. This can lead to more winging as your kids probably don’t want 3rd place medals from their 5th-grade spelling bee. As such, letting go of these items can eliminate bickering over who gets, or wants, what.

A Little Perspective

There is nothing like rummaging through all the stuff you have accumulated over the years to help put your life in perspective. For starters, you might find things that you forgot about or you might find something that you have been looking for. As such, think of the exercise not as a waste of time but as a way to save money.

That’s right downsizing can help you save money. Not only can it stop you from buying other ‘things’ but it can also open the door to getting a smaller home and this could mean you are spending less each month on your rent or mortgage. The added plus is that you will have less space to buy even more things and this leads to saving even more money.

Embrace Your Freedom

Living a life without clutter can lead to a sense of freedom. It’s not as if you are letting go of relationships; instead, it is the clutter which ties up all the space in your home. When it comes to downsizing, remember it is never too early to start; doing so will help you to enjoy your life without worrying about what to do with all this stuff.