Home Equipment You Should Sell Before Retiring To Save A Ton Of Money

The transition from working life into what comes next can be a particularly stressful time. The downturn in activities to occupy your schedule, even if the job held before retirement wasn't enjoyable, can be a major change of pace. In fact, anxiety over this transition is one reason that people consider delaying their retirement altogether. With that said, there are lots of ways that people can better prepare themselves for retirement. One option is particular is downsizing. 

Many Americans will look to move when they retire or shortly after exiting the workforce. Plus, there are lots of states that don't tax your retirement income sources (and a few that don't feature any state level tax obligations at all) so moving as part of a tax liability reduction strategy can be a big help. It's also worth exploring the hobbies and interests you hold dear. Those who love hiking, fishing, or hunting might consider moving to a more rural area while those looking to catch live sporting events and see their favorite bands play might opt for a city move. Any move you might engage in also offers the opportunity to purchase a smaller home that will cost less than the one you're selling. Also, liquidating some of the capital held within your home can similarly swing the balance of your retirement assets. However, while extracting this capital can revitalize your finances, getting rid of some of these larger pieces of furniture and home exercise equipment can also ensure an easier move when the time comes to downsize homes.

Exercise equipment is one of the best targets for home downsizing efforts. If you have a treadmill or even a bench and collection of weights, getting rid of these items can change both your finances and moving mobility. Even basic exercise gear can lead to a few hundred dollars added to your wallet whereas a more substantial collection might yield a significant financial return that can really put a dent in any financial obligations. Even without factoring in the direct financial windfall that this equipment might bring, the monetary value of selling it off can add up in different ways.

Many pieces of exercise equipment can take up considerable space in your garage or an entire room. Keeping this gear means maintaining roughly the same amount of free space wherever you move to. This might limit your ability to invest in a property found in an apartment building, for instance. Ultimately, the objective of downsizing is to move into a smaller property. The move might bring you closer to amenities that you want to use on a regular basis or the process might simply be aimed at purchasing a smaller home in order to extract cash from your real estate holdings. Keeping your exercise equipment can run counter to this objective. As is the case with large pieces of furniture, moving with exercise equipment really only serves to tie your hands when it comes to the kind of property that will work for your needs.

It's worth noting, that even if you aren't planning on moving it may still be a good idea to sell this kind of gear. In addition to the space saving benefits that selling exercise equipment can bring into the picture, many seniors might find that they don't actually need exercise equipment at home for a number of key reasons. Chief among them, their newfound access to senior discounts as well as support from programs like the Medicare Advantage Plan's SilverSneakers – which provides access to free or reduced cost gym memberships and fitness classes.

Getting out of the house in order to stay fit can provide a bevy of benefits. For one thing, joining a gym or enrolling in fitness classes can allow you to continue interacting with other people while maintaining structure in your routine — something that can be difficult when transitioning to retired life. Whether you are moving or staying put, minimizing the big things that take up space in your home can also open you up to new improvements. Selling your exercise equipment might give you enough room to install a golf simulator at home, for instance, or you might consider building a home theater. The possibilities are really only limited by your priorities and desires.