Apr 17, 2025
Nearly two in three Americans say they worry more about running out of money than death, according to a 2024 Allianz survey, and the top way they say they can address this concern is increasing retirement savings.
Hidden wealth could be sitting right under your nose. From unused items in your garage to forgotten investments and valuable heirlooms, there are plenty of ways to turn overlooked assets into retirement savings.
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The best part? You could unlock tens of thousands to your retirement fund.
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Let’s take a look at the three valuable items you may consider selling to fund your retirement.
That second (or third) vehicle you rarely drive
If you’re no longer commuting or your children have moved out, you likely have an unused car. You may also have an RV, boat, or motorcycle you splurged on and don’t use much. These are some of the dream purchases retirees may regret buying. . You can sell any unused vehicle to reduce insurance, maintenance, and storage costs.
The average used car was listed for $25,180 at the start of April, according to Kelley Blue Book. The good news is it says there is a low supply of used cars and nationwide used car supply will likely remain thin for years.
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Your life insurance policy
Many people are unaware that life insurance can be sold through a transaction known as “life settlement.”
In a life settlement, you sell your policy to a third-party investor for more than its cash surrender value but less than the death benefit. The payout varies based on your age, health, type of policy, the amount of the death benefit and premiums necessary.
The Life Insurance Settlement Association (LISA) estimates that the average settlement nets seniors about 20% of the policy’s face value. Their research says that Americans who are aged 65 or older leave approximately $112 billion in benefits on the table each year by lapsing or surrendering their life insurance policies.
If your survivors are grown and no longer rely on you financially, you can consider letting that policy go.
FINRA provides a list of factors you should consider when making this decision, like taxes, your ability to receive state or federal public assistance such as Medicaid, and personal information being accessed by the buyers.
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Also do your due diligence about whom you're working with and shop around for a fair price.
“Check with your state insurance commissioner to see whether the life settlement company or settlement broker you’re dealing with is properly licensed—and whether either has a record of complaints,” says the FINRA website. “And if you’re working with a registered financial professional, use FINRA BrokerCheck to learn about their professional background, registration status and disciplinary history. Be extremely wary of life settlement companies and brokers with a history of complaints or regulatory infractions.”
Collectibles and sought-after vintage wearables
Your heirloom jewelry could be your golden ticket to a beachside retirement. You might be surprised by the value of items like grandma’s vintage brooch, dad’s coin collection, or the original artwork that has been hanging in your living room since the ’80s. It's worth noting that the value of gold and silver have also surged amid recession fears.
Vintage jewelry — especially designer or gemstone pieces — can sell for thousands at auctions or resales. Old pocket and wrist watches can also fetch you thousands of dollars depending on the manufacturer and how many jewels are on it. Artwork from lesser-known or regional artists might also surprise you.
Make your retirement count
Your golden years should be stress-free and fulfilling.
While it might be challenging to part with valuable keepsakes, remember that you’re trading them for freedom, security, and peace of mind.
Take a fresh look around. Items collecting dust could be your ticket to a more comfortable and confident retirement.
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Monique Danao is a highly experienced journalist, editor and copywriter with 8 years of expertise in finance and technology. Her work has been featured in leading publications such as Forbes, Decential, 99Designs, Fast Capital 360, Social Media Today and the South China Morning Post.
