5 Unexpected Sources of Retirement Income | Personal finance
Another strategy is to remove a vehicle from your household fleet. If you have three, try living with two. If you have two, see if you can manage with just one. It can be quite easy for many couples to share a single vehicle once they are retired and not commuting to work. By getting rid of a vehicle, you can collect money in advance, then you will simply save money in the future, without having to pay for insurance, maintenance and repairs.
4. Your waste
Some of the money you’ll need in retirement is all around you, in the form of items you no longer need or want – and may never even have. used. Spend some time looking at things in your attic, basement, garage, and even your storage unit, if you have one. All of these unnecessary things could fetch big bucks at a yard sale — and some you might want to gift online. Particularly valuable items, such as certain collectibles, may be sold to dealers or others who appreciate their value.
Finally, an often overlooked way to generate more money for retirement while keeping more money in your pocket over time is downsizing. You can reduce the size in different ways. If you like your neighborhood or your city, you could sell your house and buy a smaller and/or less expensive one. If you’re not so attached to your current location, you can move to a less expensive city or state, or even a less expensive country. You may also be able to get closer to your family or loved ones this way.