20 things you should sell when you retire.

Jelly Roll Horton

Country Gent
Nov 10, 2017
1,941
Portland, OR
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.
This reminds me of a quote from a very good artist friend: "It’s not that I want to be an artist; it’s that I can’t help but be an artist." You could say the same thing about being a musician.
 

gtttrrr

Country Gent
Dec 7, 2011
2,178
United States
House will be paid for by age 57, only two ways this place is being sold; we want to relocate in retirement, or the kids sell it and split $ after we’re both feet-first gurneyed outta here for good.
Selling to rent in the same town is an absolutely insane idea in my book.
 

Glaw

Gretschie
Aug 30, 2017
413
ca.
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.

Being an ex Econ teacher I had a lesson I called the American dream. It was about home ownership. Unless you’re rich the cost of where you live is your biggest expense and by buying a house you freeze that cost. When my wife and I bought our house it was half of our total expenses, ten years later it was 1/8 of our expenses. Paid it off ten years ago and which made it 0%, not to mention Ca. Property near the ocean goes for a pretty penny today. Biggest reason I can afford all these great guitars, it wasn’t my teacher’s salary. So I’m in the don’t sell category unless you need the money. Guitars go up in price too.
 

Henry

I Bleed Orange
Apr 9, 2014
18,708
Petaluma
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!
There are many ways to down size. My in laws just sold a 2500 or so Sq ft custom built house in the Midwest to a custom built home I am guessing 1700 Sq ft, plenty of room in the southwest. They saved money and are much happier with the new living house. This is a solidly middle class couple that have been wise with their money.

The other end is one of the named partners at my firm. They sold their large custom home with pool, vineyards etc. (3 kids have moved out), and have now bought a smaller home walking distance to downtown, a beach house, a home in Mexico.

Another partner did a similar thing, selling a larger home they raised kids in and now splitting between a smaller home here and one in Britain (where one of them is from).
 

Runamok

Country Gent
There are many ways to down size.
My in laws just sold a 2500 or so Sq ft custom built house in the Midwest to a custom built home I am guessing 1700 Sq ft, plenty of room in the southwest. They saved money and are much happier with the new living house. This is a solidly middle class couple that have been wise with their money.

The other end is one of the named partners at my firm.
They sold their large custom home with pool, vineyards etc. (3 kids have moved out), and have now bought a smaller home walking distance to downtown, a beach house, a home in Mexico.

Another partner did a similar thing, selling a larger home they raised kids in and now splitting between a smaller home here and one in Britain (where one of them is from).
Life in the desert SW could get interesting with regards water & other resources (not to take a negative view).

The home is in Mexico, or do you mean a 2nd home in Mexico?
Definitely a class apart. That would be interesting.

They did not invest in guitars, correct? ;)
 

Synchro

The artist formerly known as: Synchro
Staff member
Jun 2, 2008
25,860
Tucson
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.
One of the biggest deterrents to selling gear is that I wouldn’t get life-changing amounts of money, even if I sold all of it. It’s not like I could sell my guitars and profit greatly (if at all) and if I sold every guitar I had, the proceeds wouldn’t even fund a new car.
 

juks

Country Gent
Nov 26, 2020
2,522
Fremont, California
Retiring? "They" will let you do that?

iu


iu

.


"Inflation is the constant rise in the prices of consumer goods and services over the years. As these prices continue to increase, the total amount of goods and services that can be purchased with a single dollar decreases.

Typically, sustained inflation occurs when the world’s money supply outperforms economic growth, which is why many people suggest that the world’s central banks must coordinate to maintain economic stability. This isn’t necessarily a bad thing. Controlled inflation provides stable growth environment in asset prices. This increases the value of homes and other real assets.

Recessions and major economic events can also affect inflation and the CPI. During a recession, the CPI often falls or increases at a slower rate due to the decreased demand for consumer goods and services."
 

Runamok

Country Gent
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
I’m pretty sure you realize I was being rhetorical.
We now have a structure by which we buy & sell things, Reverb some call it. And its shirt tail relative Ebay.

In which we have remoted ourselves from a barter process whilst broadening the size of potential customers who care about the crap we wish to cash out on. Essentially an elaboration of a simple process.

Farengi Traders of the Mediterranean.
Whatever did the Phoenicians do without Ebay?
 
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Runamok

Country Gent
I saw this on a Clickbait.
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.
I hoard vintage beer. These are my liquid assets.

The social media entity named “Clickbait.”
 

dswo

Gretschie
Apr 8, 2017
107
East Carolina
Last year I noticed that an older guy who walks in our neighborhood seemed to have moved to a different house in the same neighborhood. I asked him about it: he said that the new house was smaller, but they also got rid of a lot of stuff when they moved. Result: more usable square footage.
 

Synchro

The artist formerly known as: Synchro
Staff member
Jun 2, 2008
25,860
Tucson
I don't know about this one, but I believe that some of this type of click-bait content isn't even written by humans. Just AI churning out jibberish.
The sad thing is, some people fall for this nonsense.
 

Runamok

Country Gent
Last year I noticed that an older guy who walks in our neighborhood seemed to have moved to a different house in the same neighborhood. I asked him about it: he said that the new house was smaller, but they also got rid of a lot of stuff when they moved. Result: more usable square footage.
Guess he liked the neighborhood.
And easy relocation costs.

I once found out my former mailman had a secret vacation destination after we discussed revealing one’s personal Shangri-La’s & what it does to reveal it (oh hell, now the people up the street learn why their mail was always delayed if they read this). It was a place to which he intended to retire.

I spent a long time trying to trick him into revealing it. Never did. He retired.
Have not seen him since, so I know it wasn’t to a house up my street!

(prolly cause the mail delivery was unreliable)
 

Chet Harrison

Gretschie
Apr 27, 2020
231
USA
I mean, most of us will have untold heaps of crap for our loved ones to sort through when we die. At least picking through the guitar pile might be more fun for them than sifting through all the other mundane detritus of life.

Anyway, I imagine the average hobby guitarist probably doesn't have enough gear to fill a closet.

I'm just going to assume the writer of the article is referring to drummers, pianists, tuba players, double-bassists...
 

Bertotti

Friend of Fred
Jul 20, 2017
9,451
South Dakota
I always see conspiracies. I think this has more to do with having liquid cash so that the assisted living place or nursing home has easier access to all your funds. They do not know about home computers tool instruments etc but expect everything to be sold so it can pay for your stay. All of your money goes to the home before Medicare will kick in, only after you are completely destitute.
I have learned the hard way about this. My mom cancelled her insurance for such a thing and they can go back 9 years to see where all the money is and actually claim money given to family. What a crock. I didn’t understand this insurance so called to check on some for me and my wife. Currently they won’t insure my wife and for me it’s over 300$ a month. Talk about another insurance scam. I see dark motives in this article. My mom is paying between 7800 and 8800 a month for her assisted living.
 

mandobandit

Synchromatic
Apr 1, 2019
500
Ohio
I’m retiring in 18 months which gets me to Medicare
A little longer if I go full retirement age
My job is doable at an older age and frankly my employer is concerned about replacing my knowledge and abilities
House is paid for thirteen hundred square foot bungalow
Last five years getting it ready for retirement new roof furnace air conditioning patio door front picture window storm doors upgrade bathroom garage door and opener
I pay off a project then move to next one
Only out lay of cash is normal bills insurances property tax and car payment
My grandson’s skills and interest grows strong so he gets stuff of mine regularly
He also plays clarinet and I’m having a nice wooden instrument refurbished for high school concert band
I have a pretty solid 401k accounts
Now my three iron that’s something I rarely use I could sell that the sweet spot has never been used lol
 

Runamok

Country Gent
I always see conspiracies. I think this has more to do with having liquid cash so that the assisted living place or nursing home has easier access to all your funds. They do not know about home computers tool instruments etc but expect everything to be sold so it can pay for your stay. All of your money goes to the home before Medicare will kick in, only after you are completely destitute.
I have learned the hard way about this. My mom cancelled her insurance for such a thing and they can go back 9 years to see where all the money is and actually claim money given to family. What a crock. I didn’t understand this insurance so called to check on some for me and my wife. Currently they won’t insure my wife and for me it’s over 300$ a month. Talk about another insurance scam. I see dark motives in this article. My mom is paying between 7800 and 8800 a month for her assisted living.
Assisted living is kind of a scam.
However… It wasn’t mentioned in the post.

Is there actually an article link? A quick scroll didn’t get me there. Twice.
I thought this all started with a joke about clickbait.

It may be a little much to extrapolate dark motives on something that was excerpted down to a couple of sentence fragments from a fluff pc one has not seen.
 

Bertotti

Friend of Fred
Jul 20, 2017
9,451
South Dakota
Assisted living is kind of a scam.
However… It wasn’t mentioned in the post.

Is there actually an article link? A quick scroll didn’t get me there. Twice.
I thought this all started with a joke about clickbait.

It may be a little much to extrapolate dark motives on something that was excerpted down to a couple of sentence fragments from a fluff pc one has not seen.
Funny how a kind works or doesn’t work, isn’t it.
 


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