{"id":348387,"date":"2025-12-17T18:12:40","date_gmt":"2025-12-17T18:12:40","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/how-downsizing-your-closet-can-get-you-closer-to-retirement\/"},"modified":"2025-12-17T18:12:40","modified_gmt":"2025-12-17T18:12:40","slug":"how-downsizing-your-closet-can-get-you-closer-to-retirement","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=348387","title":{"rendered":"How Downsizing Your Closet Can Get You Closer To Retirement"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"article-disclosure-banner-wrapper\">\n<p>We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. <a href=\"https:\/\/money.com\/page\/disclaimer\/\" target=\"_blank\">Learn more<\/a>.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"article-body\" data-tracking-zone=\"body\">\n<div class=\"padded\">\n<p>Retirement comes with extra time to pursue new hobbies and visit loved ones, and the flexibility to travel. It\u2019s also expensive, and requires long-term investing and saving throughout your working years.<\/p>\n<p>But while contributing to retirement savings accounts and tapping income sources like Social Security are common strategies used to cover expenses in retirement, you may be surprised by the extra cash you can bring in by downsizing your closet. Decluttering your house may not be fruitful enough to cover your long-term health care bills or travel dreams, but it can allow your budget a bit more breathing room.<\/p>\n<section class=\"m00646-mc-recommendations money-component-ca\"\/>\n<h2>The perks of downsizing your closet<\/h2>\n<p>Beneath the dust and cobwebs, the items in your closet \u2014 such as designer clothes, unused sporting goods, old electronics and collections \u2014 may be worth a significant amount of money.<\/p>\n<p>The biggest perk is obvious: Selling these items means extra cash. But that\u2019s also money that you can put into your investment portfolio to generate long-term returns. The S&amp;P 500 has historically generated average annual returns of around 10%. Using that rate of return, an investment of $1,000 could grow to roughly $1,600 over five years. Though keep in mind that past performance in the market doesn\u2019t equal future returns, and the S&amp;P 500 may not see that high of returns over the next five years.<\/p>\n<p><em><strong>Save Smarter: <a href=\"https:\/\/money.com\/pr\/h160ddd2a8b2?amp%3Bdata-trk-pcu-type=direct_link&amp;%3Bdata-trk-pcu-uuid=h160ddd2a8b2&amp;%3Bencoded_id=\" data-trk-imp=\"true\" data-trk-company=\"rocket-money-review\">Take control of your money with the Rocket Money budgeting app, one of Money&#8217;s favorites<\/a><\/strong><\/em><\/p>\n<p>Another option is to throw that extra cash into a <a href=\"https:\/\/money.com\/best-high-yield-savings-accounts\/\">high-yield savings account<\/a>. It won\u2019t grow as much as it likely would in the stock market, but it allows you to boost your emergency savings fund and savings for short-term goals.<\/p>\n<p>Downsizing offers several benefits that extend beyond extra space and some additional cash. Selling clutter can reduce storage unit fees, if applicable. And a more minimalistic lifestyle can save time and money you\u2019d have otherwise spent cleaning and maintaining a cluttered home.<\/p>\n<p><em><strong>Gold Offer: <a href=\"https:\/\/money.com\/pr\/u3ef79664b8e\">Sign up with American Hartford Gold today and get a free investor kit, plus receive up to $20,000 in free silver on qualifying purchases<\/a><\/strong><\/em><\/p>\n<h2>How to make money from decluttering<\/h2>\n<p>There are plenty of platforms you can use to sell your items online, such as eBay, Craigslist and Facebook Marketplace. You can also trade in old electronics on Amazon and possibly sell unique items on Etsy. Platforms like ThredUp and Depop let you sell clothes online from your home, but you can also visit thrift stores and consignment shops in person to trade or sell items.<\/p>\n<p>Use those resources to check what other people are selling similar items for so you can price competitively. Clear photos and descriptors that highlight what makes your items special can also help. And consider bundling: Just like at the store, buyers may jump at a deal.<\/p>\n<p><em><strong>Extra Money: <a href=\"https:\/\/money.com\/pr\/x00f9061e638\">See how you can get up to $1,000 in stock when you fund a new active SoFi invest account<\/a><\/strong><\/em><\/p>\n<section class=\"m00646-mc-recommendations money-component-ca\"\/><\/div>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more. Retirement comes with extra time to pursue new hobbies and visit loved ones, and the flexibility to travel. It\u2019s also expensive, and requires long-term investing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":348388,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[8242,2498,30433,11077],"dealstore":[],"offerexpiration":[],"class_list":["post-348387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-closer","tag-closet","tag-downsizing","tag-retirement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Downsizing Your Closet Can Get You Closer To Retirement - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=348387\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Downsizing Your Closet Can Get You Closer To Retirement - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more. Retirement comes with extra time to pursue new hobbies and visit loved ones, and the flexibility to travel. 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