2. Vehicles
Next on our list of things you should sell before retirement is your car. Think of it as a liability, especially if you have more than one car. Just think of how much money you’ll save, as you won’t have to spend it on auto loans, insurance, repairs, gas, and maintenance.
Moreover, selling your car will provide you with the flexibility to have extra money and pay down some debts. You wouldn’t want to spend your retirement years battling mounting bills with little or no income.
So, if you have many cars, sell them, leaving only one for convenience and mobility. These vehicles will only add to your expenses unless you have lucrative investments that cover their upkeep. Even so, your cars would sit in your garage, taking up space and idling away.
4 Responses
Loved the ideas, although I knew most to do it’s just getting it done. I do like the sites/places to go to be able to sell/trade for items that are older without holding a yard sale particularly at my senior age.
So sell your clothes, house, car. and what ever is left like collections and electronics (t.v. And stereo), so what do you do then. Live in s box
Exactly what I thought !
Of course it’s a good idea to eliminate (donate, throw away, or sell) items you no longer need in retirement, or any time, for that matter. It should be noted that personal items such as jewelry are not included in the assets that must be spent down before qualifying for Medicaid, so that’s a reason to keep them to pass on to heirs. Also, a spouse can continue to live in the house that a couple owns, even after their partner qualifies for Medicaid. However, the government can recover their expenses after the house is sold.