According to CPP Investments61% of Canadians are worried about running out of money in retirement., and one of the top ways 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.
The best part? You could unlock tens of thousands for your retirement fund.
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 that much now. These are some of the dream purchases retirees may regret buying.
You can sell any unused vehicle to reduce insurance, maintenance and storage costs.
In 2025, the average cost of a used car in Canada is $36,342, according to Car Rookie. The good news is that there is a low supply of used cars in Canada right now and supply will likely remain thin for years.
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.
According to Canadian Life Settlements, seniors will receive anywhere from 10-50% of the face value or death benefit when selling their life insurance policy.
If your survivors are grown and no longer rely on you financially, you can consider letting that policy go. When making this decision, you should consider factors like taxes, your ability to receive governmental assistance and personal information being accessed by the buyers.
Be sure to do your due diligence about who you’re working with and shop around for a fair price.
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 collectio, 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.
Sources
1. CPP Investments: Nearly 2 in 3 Canadians worry about retirement savings: survey (Oct 30, 2024)
2. Car Rookie: Used Car Prices Canada: 2025 market trends (March 30, 2025)
3. Canadian Life Settlements: Determining Your Life Settlement’s Value in Canada (August 5, 2023)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
