With Prince Charles recently celebrating his 65th birthday, the heir to the throne is in the somewhat odd position of still not actually ‘starting his job’ while most people of his age in the UK are making plans for their retirement.
Yet, with changes to the default retirement age of 65 and life expectancy on the up, in some ways Charles represents how our ideas of retirement are changing. He shows no signs of slowing down, is continuing to work and is healthy and active.
However, unlike our retirement-age royal, what’s generally becoming clear is that increasing numbers of people who are nearing the end of their working lives or are already semi-retired are looking for ways to make their money go further and top-up savings while living a full and active life.
The secondhand market can be one great way to help fuel these ambitions by saving and making some money.
Downsize and Declutter
Recent research undertaken by Lloyds Bank found that almost half of homeowners (45%) were planning to sell their property in the next three years in order to downsize. The reasons stated for downsizing included over a third of people who wanted to use the cash for their retirement.
Moving to a smaller property, like a bungalow, inevitably means making some choices about the possessions you want to take with you on the move. It’s an ideal opportunity for a ‘spring-clean’ and declutter, perhaps reading our advice before you start to help you get organised.
And once you’ve drawn up a list of things you no longer need, rather than simply chucking throwing them out or heading to the local refuse site with a carload, why not consider turning that clutter into some extra cash? Putting an advert on Preloved is FREE, quick and easy.
If you’re downsizing to release some money, the associated fees of actually moving house can make it an expensive process, so keeping costs in check where you can is a must. We spoke to a young family who moved back to the UK from France, and they gave us some great advice about ways to save money if you’re planning to move abroad to retire, heading back to the UK or looking for different furniture for your new home with an eye on costs.
Retirement brings with it the rare opportunity in busy lives to take stock and spend some time attacking the attic, sorting out the shed and clearing out cupboards. All those jobs we never get around to. And who knows what you might find that could make a few quid? Think about everything from antiques (perhaps reading our advice from TV antiques expert, Mark Hill), to collectible items, and sought-after vinyl records, to sporting memorabilia and vintage fashions, which are all in much demand and ripe for selling. Dig them out and flog them off for FREE!
You’ve worked hard for your retirement – you’ve earned a well-deserved treat! Prince Charles is the lucky owner of an Aston Martin DB6, and with classic cars now seen as a potential investment for retirement, Charles would be wise to hang on the keys. And perhaps it’s also time for you to combine some fun and financial planning. We’ve got some expert advice on buying a classic car, and a tempting selection classic cars for sale now on Preloved.
The way people retire today is changing, whether that’s due to financial considerations or individual preferences. One recent study by the Skipton Building Society has shown that the average retiree soon finds it difficult to adapt away from the structured environment of work, while missing the feeling of being productive and using their career experience. One result is that each year thousands of Brits instead opt for semi-retirement and seek new business opportunities where they can take on the challenge of starting a new venture.
Life of Leisure
However, if you’re looking forward to escaping work for good and grabbing a piece of the action, Preloved is packed with bargain gear that’s perfect for your life of leisure. Check out our sailing boats, cycles and motorbikes, or sports equipment, musical instruments and caravanning and camping. It’s your time to have some fun without blowing your pension pot!