February 5, 2023 Breaking News, Latest News, and Videos

Liquidate Assets for a Simple Lifestyle

Want to live a simpler life? Many people begin their quest for a low-stress, less complicated lifestyle by removing clutter from their homes, downsizing their living space, and reducing time spent online. Those things are all good ways to start. But there’s a more subtle aspect to simplicity. Don’t overlook your financial life.

It’s one thing for your house to be a clean, efficient dwelling. But if your finances are in disarray, then you’re not truly experiencing the full effect of a streamlined life. The main component of financial clarity is related to liquidity. That’s a shorthand way of saying that you should identify assets you no longer have any use for and convert them into cash. And there are a few areas where you don’t have to sacrifice quality to save money or achieve a simpler lifestyle. Here’s how to get started on your personal conversion process. The main goal is to focus on things you own but can easily do without.

Unload Dormant Stock Portfolios

It’s pretty common for working adults to get excited about stock investing as soon as they begin a new career. After an initial burst of buying shares and building a portfolio, they lose interest and only view results when they receive a quarterly statement. If you own such a collection of outdated, unneeded shares that are not appreciating in value, consider selling them and banking the proceeds. There’s nothing wrong with investing, but if you don’t have the time or interest to attend to a portfolio, convert it to ready money and clean up your financial balance sheet.

Sell Unneeded Life Insurance Coverage

Because insurance policies are intangible assets, many people forget about them when they set out to convert what they own into cash. You can sell your policy via a life settlement and bring in a significant amount of money in the form of a cash payout. What’s more, you’ll be free of making premium payments, which is another way to save. If the concept of life settlements is new to you, there is plenty of information available online that explains all the details and helps you calculate how much your policy is worth. Once you decide to sell, the entire process is short and simple, and you can usually gain access to your payout quickly.

Hold a Cyber Yard Sale

Clear out your house and sell all the excess appliances, computer peripherals, gadgets, clothing, books, and other assorted oddities online. Opt for auction or direct selling platforms. Be careful to stick with reputable sites and avoid paying high commissions on sales.

Convert Collections to Cash: Stamps, Coins, Baseball Cards

Some items don’t belong in yard sales or online auctions. These items include potentially high value stamp, coin, and sports card collections. Your best bet for getting top dollar is to contact a local dealer who specializes in whatever you own. For example, avoid selling a coin collection piece-by-piece online. Instead, work with a local dealer who is willing to purchase the entire set for a fixed price. Use the same system for sports cards, stamps, and other groups of collectibles. You’ll almost always get a better price and won’t have to worry about dealing with anonymous buyers via the internet.

in News
Related Posts

Tishman Speyer Announces Basis Investment Group as Equity Partner for Santa Monica Collection

February 3, 2023

February 3, 2023

BIG’s $30 million commitment — 11 percent of total equity — to the 3.1-acre mixed-use development will help create 617...

Two Industry Titans Invest $30M in Lavish Pacific Palisades and Santa Monica Homes

February 3, 2023

February 3, 2023

David Bonderman and Christa Campbell recently acquired two lavish homes By Dolores Quintana Private equity tycoon David Bonderman and his...

Four-Year-Old Mountain Lion P-81 Found Dead on PCH

February 2, 2023

February 2, 2023

P-81 found on Pacific Coast Highway near Las Posas Road On Sunday, January 22, the California Department of Fish and...

Rep. Lieu Secures $2.5 Million for Local Projects in Santa Monica

February 2, 2023

February 2, 2023

Funding will go towards Santa Monica Behavioral Health Center and Ready to Succeed Scholarship program  By Sam Catanzaro ​​Congressman Ted...

Steve Marcy, Beloved Lincoln Middle School Teacher and Scoutmaster, Passes Away at 77

February 2, 2023

February 2, 2023

Longtime Lincoln math teacher passes away  ​​Steve Marcy, beloved Lincoln Middle School teacher and Scoutmaster of Santa Monica Boy Scout...

California Referendum Postpones Controversial Fast Recovery Act That Would Increase Hourly Wages for Fast-Food Workers to $22

February 1, 2023

February 1, 2023

AB 257 would create a board of 11 appointees to negotiate on behalf of fast food workers in California Last...

Highly-Anticipated Downtown Santa Monica Restaurant Close to Opening

February 1, 2023

February 1, 2023

Bar Monette close to opening at 109 Santa Monica Boulevard By Dolores Quintana Bar Monette is almost ready to open...

SMC Receives Grant to Expand Access to Critical Support Services for Foster Youth

February 1, 2023

February 1, 2023

New NextUp program will provide academic & comprehensive support, plus direct financial aid to foster youth enrolled at SMC Santa...

Find Inspiration in Moses Sparks’ Latest Collection of Tree Portraits in the Santa Monica Mountains

February 1, 2023

February 1, 2023

The exhibition and sale run from February 1st – 26th at the King Gillette Ranch Visitor Center  Internationally-acclaimed wildlife photographer,...

Pacific Park Joins The City Of Santa Monica To Recognize ‘Black History Month’ With Ferris Wheel Salute

February 1, 2023

February 1, 2023

Display of red, yellow and green colors, patterns and transitions beginning at sunset February 1 On Wednesday, February 1, the...

Girl Scout Cookie Season Returns to Los Angeles With New Cookie

January 31, 2023

January 31, 2023

Cookie lovers throughout Greater Los Angeles can now support local Girl Scout entrepreneurs by ordering from the iconic lineup Girl...

Boris Allakhverdyan, Ben Hong and Talon Smith Unite in Santa Monica for Special Performance of Brahms’ Trio Op. 114

January 31, 2023

January 31, 2023

Concert will take place on Sunday, February 5 The world-renowned Los Angeles Philharmonic’s Principal Clarinet Boris Allakhverdyan and Associate Principal...

Metro’s Choice for Purple Line Muralist Sparks Veteran Concern

January 31, 2023

January 31, 2023

Veterans concerned over disturbing painting by commissioned metro muralist at the purple line stop on the West L.A VA Soldiers...

Los Angeles Sees Increase in Kia and Hyundai Thefts Fueled by TikTok

January 31, 2023

January 31, 2023

Social media platforms exacerbate vehicle thefts through security flaws Kia and Hyundai vehicles have become a major target for car...

Phil Brock Appointed to Serve on National League of Cities’ Public Safety and Crime Prevention Committee

January 31, 2023

January 31, 2023

Brock will help shape NLC’s policy positions and advocate for America’s cities, towns and villages before Congress Santa Monica City...