Declutter Your Life
Maintaining clutter isn’t just a hassle—it can also be expensive if you’re shelling out cash for things like storage units. Joe Eaton of the AARP recommends five ways to get rid of unwanted stuff.
Give heirlooms as gifts. Gift heirlooms, but keep in mind that if an item has significantly appreciated, giving it as a gift while you are living requires the recipient to owe capital gains tax if he or she sells it.
Sell items. Consider selling items such as electronics and books online. Local stores like consignment shops are also good options, especially for large items.
Donate items. Donate unwanted items to nonprofit stores. As an added bonus, you can write off the donations as charitable contributions, so get an IRS tax receipt.
Hire a liquidator. Hold an estate sale by hiring a liquidator. This industry isn’t regulated, so make sure the liquidator is reputable.
Throw it away. Recycle anything that can be recycled and then throw away the rest.