Boomers, Here’s What to Sell to Maximize Your Retirement Money

As baby boomers approach retirement, many are seeking ways to maximize their savings and ensure a comfortable future. 

By 2030, all baby boomers will be 65 or older, and the growth in this age group is expected to begin slowing.¹ 

With retirement on the horizon, selling these certain items can be a practical way to increase retirement savings.

1. Real Estate

Many Boomers own homes or investment properties that have appreciated significantly over time. Selling real estate can free up substantial funds, which can be invested or used to cover retirement expenses.

Downsizing to a smaller home or moving to a retirement community can also simplify life and reduce maintenance costs.

2. Classic Cars

If a Boomer has a classic or vintage car, it can be a valuable asset. Classic cars often appreciate in value over time, and selling one can provide a significant financial return.

Car enthusiasts and collectors are always on the lookout for well-maintained, rare models.

3. Jewelry

High-quality jewelry, especially pieces with precious metals or gemstones, can be worth a considerable amount. Selling unused or out-of-fashion jewelry can provide extra cash.

It’s a good idea to get a professional appraisal to understand the true value of these items.

4. Tools & Equipment

For those who were avid hobbyists or professionals, tools and equipment can accumulate over the years. Whether it’s woodworking tools, garden equipment, or high-end electronics, these items can be sold to others who will make good use of them.

5. Musical Instruments

Instruments that are no longer in use, such as pianos, guitars, or violins, can have significant value.

Musicians and collectors are often looking for well-maintained instruments, and selling them can be a great way to pass them on to someone who will appreciate them.

6. Old Books & Memorabilia

Collectors often seek rare or first-edition books, as well as memorabilia from historical events or popular culture, such as toys and vinyl records. If Boomers have such items, selling them can be a lucrative way to downsize while sharing their treasures with enthusiasts.

7. Furniture

Furniture that has been well-maintained or is of high quality, such as antique pieces or designer brands, can be sold to those looking to furnish their homes.

Downsizing or redecorating can make space and add to retirement funds, especially if the furniture is still in good condition.

8. Art & Sculptures

Original artworks and sculptures, whether by known artists or local creators, can be valuable. Selling art can not only declutter but also bring in a substantial amount of money, especially if the pieces are unique or from a notable artist.

9. Vintage Clothing & Accessories

High-quality or designer clothing and accessories from past decades can be highly sought after by collectors and fashion enthusiasts. Items such as vintage dresses, handbags, or shoes can be sold through consignment shops or online marketplaces.

10. Camping & Outdoor Gear

For those who have enjoyed outdoor activities, selling camping gear, hiking equipment, or boating supplies can be a great way to downsize. These items often retain their value well and can be sold to enthusiasts or newcomers to the activities.

11. Collectible Coins & Currency

Collectible coins and currency, such as rare coins, limited-edition mintings, or historical paper money, can have substantial value.

High-quality, well-preserved pieces can command premium prices, especially if they are from notable periods or have unique attributes.

12. Comic Books

Comic books can be highly valuable, especially if they are rare, have historical significance, or are in mint condition. Key issues, first appearances of famous characters, and limited editions often attract collectors and can command high prices.

13. Stamps

Stamp collecting, or philately, is a well-established hobby with a big market. Rare stamps, errors, and historically important issues can be highly valuable.

Early stamps from the 19th and early 20th centuries, such as the “Inverted Jenny” or “British Guiana 1c Magenta,” are often highly collectible.

By strategically identifying and liquidating these assets, boomers can unlock additional funds, reduce clutter, and better position themselves for the future. 

Source:

1. U.S. Census Bureau