20 things you should sell when you retire.

Discussion in 'Fred's Barcalounge' started by GVDobler, Jan 8, 2022.

  1. GVDobler

    GVDobler Synchromatic

    May 15, 2011
    Las Vegas
    I saw this on a click bait.

    Your house was #1 on the list.

    About #10 was the following:

    Musical Instruments

    Musical instruments take up a lot of space, so if you don't play them regularly, you're better off selling them. You can sell your instruments to a pawn shop or via an online marketplace such as Reverb.

    Yikes. We all seem to be going in the wrong direction.
  2. GlenP

    GlenP Country Gent

    Jul 23, 2019
    That kind of statement was most likely written by a non musician. I can agree that maybe it makes sense to pare down a large collection, but I don’t agree with the blanket statement that you should sell all of them. And now with the new sales reporting by Reverb, it might be better to pass on a valuable guitar to an heir rather than pay tax on the gains of the sale.

    It reminds me of an interview by a clearly non musical correspondent with Mark Knopfler that began with something to the effect that: you really don’t have to play music anymore (ie earn more money by playing music to support yourself financially was maybe the intended meaning) to which Mark replied something like, oh no, I do have to, it’s quite an obsession actually.
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  3. wildeman

    wildeman I Bleed Orange

    May 10, 2015
    All i wanna do if i ever get to retire is play my instruments, now I'm supposed to sell them to a pawn shop?:confused:
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  4. juks

    juks Country Gent

    Nov 26, 2020
    Fremont, California
    I guess if you sell your house, there isn't much space in the homeless tent for guitars...

    I second @wildeman: when I retire I want to play a lot!
  5. tmcq65

    tmcq65 Electromatic

    Nov 10, 2021
    I suppose the key part of the passage is "if you don't play them regularly". Being musicians, we naturally look at this with incredulity, but there are lots of people who have dabbled with music at some point and then moved on. We are not the audience of this advice.
    There's someone, right now, on some sports forum in disbelief that anyone would suggest they get rid of a catcher's mitt or something.
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  6. Synchro

    Synchro The artist formerly known as: Synchro Staff Member

    Jun 2, 2008
    Admin Post
    Yes, and when someone writes an article, they are very smart and we should always do as they say. :) Selling your house to buy a smaller house; maybe. Going to rental property does not strike me as a good move.
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  7. stiv

    stiv Country Gent

    Sep 12, 2014
    Firenze, Italy
    Well, it’s something I would ponder in a 10 year span when I’ll hopefully retire, as I plan to move in the south of Spain.
    I have no kids, my sister and my nephews are already set, so selling the house would sure be the first step (I thought about renting it, but I guess that having to take care of a propriety that’s thousands miles away from where you live isn’t exactly a good idea). As for the guitars, none in my family play instruments besides me. I may not sell them (if I don’t have to) but I doubt I’ll bring them with me (with the exception of my old acoustic… it’s always good to have a guitar in the house even if you don’t play it…). I guess I’ll leave the others at my mate’s studio as resident guitars, just in case some of his clients need them to record a song or two.
    I hardly see myself playing guitar at home alone when I’ll be old. I’ve never been that type of musician. To me the road it’s always been the only reason I played, and it still is even if I played 2 gigs in 2 years. I sure don’t know what the future brings, but I plan to read a lot, sleep a lot and drink a lot. :D
    So it’s very likely that I wouldn’t need a guitar to do that ;)
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  8. hcsterg

    hcsterg Friend of Fred

    Feb 13, 2012
    20 things you should sell when you retire.

    Sell ? No... Nobody would be interested. o_O

    Trash ? Yes... To make room for musical instruments. :)

  9. A smaller house at similarly boosted price point…
    Doesn’t seem to work.

    If you are at all above so-called “entry level” housing even by a tick, then people who cannot afford your multi-bedroom Italian Villa with be competing with you for more modest digs.

    People with journalism degrees are very nearly rocket scientists. Its all in the sentence structure. So it must be true. If they write fluff & clickbait — add astronaut & brain surgeon to their competencies as well.

    How ever did people sell instruments before Ebay & Reverb?

    As for a roof:
    Move in with your most comfortable offspring that you can stand!
    Last edited: Jan 9, 2022
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  10. DougWheeler74

    DougWheeler74 Synchromatic

    Jul 10, 2019
    NE Wisconsin, US
    Well, the clue is is CLICK BAIT. I'll admit to being sucked into a few and find it amusing to read some of theses things. Many are obviously written by people have little idea about the subject. Having said that, it seems that the topic is mostly about selling stuff after retirement. For me, downsizing in general is a good idea. My kids are grown with kids of their own and there isn't much of our stuff they need. I expect they will want some sentimental value items and maybe some of my guitars for the grandkids as the both have their own. I'll never know what they do with our stuff.

    As for retirement and guitars, we are all different. Here is my story:

    I got my first electric as a high school graduation present. I don't know how my parents managed it, but they did. After about a year, I traded my coronet (I played in high school band) for a harmony 6 string. I might have had a loss, I don't know. I was happy and the music store was happy so that's it. It was 1969 and the Great Folk Scare of the 60s was in full swing. Taking an electric along to a party wasn't practical.

    Flash forward to 2015 and retirement. After reading that it is important to do new things in retirement to keep the brain active. I bought a tele and an amp. Man, the transition was not as smooth as I thought it would be but what a journey! I now have 3 electrics and two amps (one I built) and am about to start winding some pickups just for the fun of it. The ol' brain is certainly engaged.

    I played an outdoor acoustic gig last summer and reconnected with an old friend which is real special. Music is a very special path to be on.

    Who knows what is next? As a youth I never expected to make 40. I'm almost 72 and don't have enough time to do all I want. (of course, I do go to bed a lot earlier these days so there is that. ):D
  11. loudnlousy

    loudnlousy Gretschified

    Oct 18, 2015
    I am on the edge for an early-retirement-agreement.
    I am not planning on selling anything to lead a decent life as a retired person.
    I paid a lot of money for old-age-pension schemes and private health insurance during the last 4 decades.
    I have a pension-promise by my employer, too.
    So I have the realistic hope that I will have nearly the same monthly ammount of money to my disposal when I will retire.
    (Since I am counting on my beloved 23 year-old son fledging, getting a proper job and leaving my houshold by then. I keep my fingers crossed...)

    Back to the topic:
    There are some things that I would consider selling or stop paying for/saving money with:
    - Get rid of second family-car
    - I would save a lot of money on gasoline since I will not have to drive to work every day anymore
    - I would stop my expensive life insurance
    - I will make sure that there are no debts left to pay for when I will retire
    - I would cook every day by myself and not buying any prepared food anymore (that would save me a lot of money and would be a lot of fun)
    - Maybe I would rent a nice flat and get rid of the big garden and the work that has to be done when you live in a big house
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  12. thunder58

    thunder58 Super Moderator Staff Member

    Dec 23, 2010
    tappan ny
    Admin Post
    Here on the east Coast we had the " Want-Add Press" . A weekly publication ( like those real-estate booklets you see at the Diner ) Cars , musical instruments , furniture , most anything ... sometimes I wish it was still around . Do you remember that publication @5120mantis
  13. thunder58

    thunder58 Super Moderator Staff Member

    Dec 23, 2010
    tappan ny
    Admin Post
    Oh I hear that . Ed and I reconnected 3 years ago . Music buddies all the way in High School ... then life set in . Thats me and Ed ( I'm a little shorter than him ..lol :p ) Thats his brother Billy on the bass , I'm on the right ( probably 1977 ) IMG_2619.JPG IMG_2887.JPG
  14. thunder58

    thunder58 Super Moderator Staff Member

    Dec 23, 2010
    tappan ny
    Admin Post
    Oh Pa-Leeze ...me neither . Once got in a soft heated argument with the Town Clerk Mrs. Maddigan ( an elderly lady ) about the " new " senior housing that was being built in town . She thought is was " sooo wonderful " at $3200 a month rental . And if you wanted a garage that was an extra $600

    Me : Mrs M , that's $3800 a month ???
    Mrs M : well the elderly don't want the upkeep of their home like mowing the lawn , repairing the toilet.......
    Me: Mrs M , what about all the rules & regs from the Homeowners Association ? Can't do this can't do that
    Mrs M : Rich , these people in town bought their homes in 1962 for $23, 000 . They sell for $450,000 ... they'll have plenty of money
    Me: Mrs M ...... it's $3800 a month , how long will that last ???? Ya gotta eat too

    Ya can keep your rentals boys and girls :)
  15. twangmanster

    twangmanster Electromatic

    Dec 29, 2021
    Long Island
    I don't even agree with selling your house.
    thunder58 likes this.
  16. jvin248

    jvin248 Electromatic

    May 16, 2017
    Near Detroit
    Retiring? "They" will let you do that?


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  17. Synchro

    Synchro The artist formerly known as: Synchro Staff Member

    Jun 2, 2008
    Admin Post
    I had an uncle that sold his home when he retired and moved t9 a seniors only trailer park. By the time of his death, his space rental had gone so high that it was far more than the payments on the house he had sold, which would have been paid off, by then, anyhow.
  18. Most people I know who are retired complain that growth, etc has priced them into the grave. Nothing substantially new in that.

    Used to live in a bedroom community where much of the workforce commuted. My semi-retired, self-employed neighbor used to bemoan the growth, new schools, etc as starting to price him out of where he lived for 40 yrs & raised his family. It wasn’t a one-off experience, as I’ve heard many variations on the theme. (People tell me stuff like this. Is there a sign on my back?)

    I think the economy is a voracious thing & recognizes untapped cash in those people who retire — I’m told by wizen Yodas that whenever a large demographic retires, the economy is a beast sensing it & goes hunting to divest them. A dragon descends on the village.

    Nature of the beast.
    Like financial planners who can’t leave a pool of money sitting idle.
    Last edited: Jan 9, 2022
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  19. Synchro

    Synchro The artist formerly known as: Synchro Staff Member

    Jun 2, 2008
    Admin Post
    The best hedge most people have against inflation is home ownership. My house payment is modest by today’s standards, but would have been unimaginably large when my parents were buying their home. If I bought a new home from scratch, the payments on that would dwarf my current house payment. It’s not a complete solution, but buying a home helps as a hedge against inflation.
    Viking Power likes this.
  20. Pine Apple Slim

    Pine Apple Slim Country Gent

    Dec 14, 2011
    North Alabama
    Ive been retired debt free for 7-8 yrs. I do have more stuff than I need, but it's not really costing me anything.
    The biggest thing is the pool I built for the ex wife, but its kinda hard to sell a pool. I built my studio at the same time so that's a plus. I sold 3 pretty nice guitars last yr but I bought 3 more even nicer ones. Really all I need to get rid of musically are 2-3 partscasters that wont bring much money anyway, so I'm looking for people in need to give them to. I do have a nice Gibson banjo I never play, but if I sold it I'd probably buy another nice guitar.

    I would downsize to a smaller place if I could do it without incurring debt and pocket some cash in the process.
    But thats a couple of big ifs.
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