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8 of the Best Places to Buy Used Goods Online

8 of the Best Places to Buy Used Goods Online

You don’t have to spend a lot of money on electronics, home furnishings, clothing, or other items you use every day. In fact, you can save a lot of money if you buy a lot of these items in previously-owned condition. You can get some great deals when you search through online want ads and find items being sold by people in your area. Just make sure that you are being safe when shopping online, and only meet sellers in well-lit, public places.

Here are some of the best places to buy used goods online:

1. Sell

    This free site is easy to use and you don’t need to use a credit card to sign up. You will find the best deals on items you want and you can even set up a “Wish List” so you will be notified via email when items become available. All negotiations are private and sales are completed quickly and easily. If you buy items in bulk, you can negotiate for volume pricing discounts.

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    2. Poshmark

      You are always protected when you shop here. Your payments are held until you inform Poshmark that you have received your order. You will then have three days to notify the company if there are any issues. When your claim is verified, you will receive a refund. If no contact is made after this three day period, your payment will be released to the seller, and all sales are then final with no refunds.

      3. Gadget Salvation

        If you are looking to upgrade your laptop, you can get some great deals here. Yes, the items are all used, but because they are inspected before they are purchased from the original owners, you know that you are getting quality goods at the absolute lowest prices. If you haven’t considered it before, definitely consider buying your laptops used.

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        4. Geebo

          This is more than just an online classified ad website. It is a community that was created by people to make buying and selling easier for people. There are things that are missing from traditional classified ads, and this site fills in those gaps. You will be able to find people in your area who are selling the items you are looking for and there are many more sellers on this site than you will find in the newspaper ads.

          5. Letgo

            Here is another site where you can find all kinds of cool stuff for sale. It is easy to buy on Letgo, with loads of categories to choose from. Don’t forget to check out the home page to see some interesting items for sale. Find items you want, tap on them, chat with the seller, and arrange to buy the items. It’s as simple as that.

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            6. Backpage

              Whether you are in the USA, Canada, or just about any other location in the world, you can buy used goods online quickly and easily. This is an online classified ad service that can get you in touch with sellers in your neighborhood that have exactly what you are looking for, at prices that are low and competitive.

              7. Gone

                This site buys used goods that are in excellent condition and then sells them at greatly discounted prices. You can be sure that each item has been inspected before being put up for sale, that you will be getting exactly what has been described, and that the condition is guaranteed.

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                8. Mercari

                  This is buying and selling made easy. All you have to do is search for the items you are looking for and then you are connected with a community that is selling just about everything you can think of. You can safely pay for your purchases with your credit card, debit card, or with PayPal.

                  Featured photo credit: Krzysztof Puszczyński via stock.tookapic.com

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                  Jane Hurst

                  Writer, editor

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                  Published on May 7, 2019

                  How to Invest for Retirement (The Smart and Stress-Free Way)

                  How to Invest for Retirement (The Smart and Stress-Free Way)

                  When it comes to stocks, I bet you feel like you have no idea what you’re doing.

                  Everyone who’s not a financial expert has been there. I’ve been there. But, time is passing and you need to be crystal clear with how you’re investing for your retirement.

                  Otherwise, it’s back to work until you can afford not to. So, how can you invest for retirement when you’re not a financial expert?

                  You take the time to learn the fundamentals well. If you do, you can grow your wealth and retire happy. The best part is that you don’t need to be a financial expert to make smart investment decisions.

                  Here’s how to invest for retirement the smart and stress-free way:

                  1. Know Clearly Why You Invest

                  Odds are you already know why should invest for retirement.

                  But, maybe you know the wrong reasons. It’s time you get clear on why you’d like to retire. Here are some questions to help you get started:

                  • Will you spend more time with your family?
                  • What does retirement mean to you?
                  • Are you looking to launch that business you’ve been holding off for years?

                  Everyone wants to retire but not for the same reasons. Once you’re clear for why retirement is important for you, you’ll focus on making it happen.

                  Investing in the stock market allows you to take advantage of compound interest.[1] All this means is that your money earns money on top of its interest. A reason why investment in the stock market is one of the best ways to plan for retirement.

                  2. Figure out When to Invest

                  “The best time to plant a tree was 20 years ago. The second best time is now.”– Chinese Proverb

                  It’s true if you’d had started investing when you were 10 years old, you’d have a lot more money than you do today.

                  The reality is that most people don’t start investing until it’s too late. So, if you’re currently waiting for the perfect time to start an investment, it would be today. Open your calendar and block out 2 to 3 hours to choose how you’ll invest for retirement.

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                  A quick way to get a snapshot of where you stand is to use Personal Capital. Input all your personal information and spend some time setting your retirement goals. Once completed, you’ll know where you stand with your retirement.

                  Having a savings account for retirement isn’t planning for retirement. Why? Your money loses value when you factor in US inflation.[2]

                  3. Evaluate Your Risk Tolerance to Create the Perfect Portfolio

                  Investing your money well depends on your emotions.

                  Why?

                  Because when the market drops most people panic and withdraw their money. On average, the US stock market yields an annual 6% to 7% ROI (return on your investment.) But, this won’t happen if you’re worried about short-term loses.

                  Before you invest your next dollar, know your risk tolerance.[3] Your risk tolerance determines the number of risky and safe investments you’d have.

                  Regardless of your investing style, you need to view investing for retirement as a long term game. Know that some years you’ll lose money but recoup this in the long-term.

                  Avoid watching market-related new. Also, create a double authentication to log in your investment account. This way you’re less likely to withdraw your money.

                  4. Open a Reliable Retirement Account

                  Depending on your circumstance, you may need to open a new brokerage account. This is the account is where you’ll invest your money.

                  If you’re currently working for a company, odds are that they offer a 410K investing account. If so, here’s where you’ll invest most of your money. The only problem with this is that you’re limited to the stock options that are available.

                  You do have the option to open a separate IRA (individual retirement account.) Here are some of the best brokers:

                  1. Vanguard
                  2. TD Ameritrade
                  3. Charles Schwab

                  5. Challenge Yourself to Invest Consistently

                  Committing to invest for retirement is hard, but continuing to do so is harder.

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                  Once you’ve started investment for your retirement, you run at risk from stopping. Often you’ll want to contribute less, so you’d have more money in your pocket.

                  That’s why it’s important that you create a budget that allows you to invest each month. If you’re working for a company, you can set a percentage for the amount you’d like to contribute each month. Most people by default contribute 1% but aim to contribute 10% to 15%.

                  Be the judge for how much you can afford to contribute after covering important expenses. To stay motivated, use Personal Capital to view your net worth.

                  A benefit to contributing money to your retirement account is not taxed. For example, if you earn $100 and invest 10%, you’d contribute $10, then get taxed on the remaining $90. As of 2019, the most you’re able to contribute towards your 401K is 19K but this can change.

                  6. Consider Where to Invest Your Money

                  The most common way to invest your money is in stocks, but it’s not the only way. Here are other ways to invest:

                  Robo Advisors

                  Robo-advisors[4] are fancy algorithms that’ll choose the best investments for you. Sites like Wealthfront make it easy for first-time investors to invest their money. You’d input information about yourself and set your risk tolerance.

                  Then, set your monthly contribution amount and your robo-advisor would do the rest. Robo-advisors charge a fee to manage your money, but less than regular advisors.

                  Bonds

                  Think of bonds as “IOUs” to whomever you buy them from.

                  Essentially, you’re lending money and charging interest. Like stocks, not all bonds are equal. Some will be riskier than others depending on their rating.

                  Here are the different types of bond categories:[5]

                  1. Treasury bonds
                  2. Government bonds
                  3. Corporate bonds
                  4. Foreign bonds
                  5. Mortgage-backed bonds
                  6. Municipal bonds

                  Mutual Funds

                  Picture a group of people dumping all their money in a jar that’s managed by a professional. This is how mutual funds work. The fund manager manages the money looking to earn capital gains (interest.)

                  One of the best types of mutual funds is index funds. Since these funds don’t try to beat the market and instead follow it, they need less research. Because of this they often charge the lowest fees and yield the best long-term results.

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                  Real Estate

                  Yes, buying a home is an investment when done correctly.

                  Imagine buying a home and using it as a rental property. After repairing it, you receive a monthly surplus check of $100 to $200.

                  This may not sound like a lot, but repeat this process enough times and you’d earn a large amount of passive income. That’s why real estate is one of the best investments to not only retire but become wealthy.

                  But, it requires a lot of money to start and you should expect losing money along the way as you learn the process.

                  Savings Accounts

                  Your money can still grow in a savings account. Nowadays most online banks offer a 2% annual return. Although the average inflation is higher your money will be available when you need it.

                  7. Master Disincline to Dodge Short Success

                  Investing for retirement is a long-term strategy. That’s why you need to master delayed gratification. All this means is delaying short-term pleasure for something bigger in the future. Research shows that those who have delayed gratification are more successful.[6]

                  So how can you master delayed gratification?

                  By building your discipline.

                  Think back to what retirement means to you. A clear purpose will help you avoid withdrawing your money during a market downturn. It’ll help you contribute more towards retirement when you’d want to waste it instead.

                  Your journey towards retirement will be long, so reward yourself along the way. Choose a reward that’s relevant and meaningful, so that you reinforce positive behavior. For example, after contributing more towards retirement, treat yourself to dinner.

                  8. Aggressively Invest on This One Investment

                  I’ve mentioned several types of investments but haven’t covered the most important one.

                  It sounds cliche but here’s why you’re your best investment towards retirement. The more you know, the more money you’ll be able to make. The more good habits you adopt, the more secure your retirement will be.

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                  More importantly, investing in yourself is an investment that no one can take away. There’s no market downturn nor tragic circumstance that’ll wipe your knowledge and experience.

                  But, how can you invest yourself?

                  Reading books, blogs, and anything that’ll help you learn new topics daily. Listen to podcasts and audiobooks on your commute to/from work.

                  Save money to buy courses and hire coaches. I used to believe hiring coaches was a waste of money when I could learn the subject alone.

                  But, coaches see your blind spots and hold you accountable. Hiring the right coach will help you achieve your goals faster than you would’ve alone.

                  Retire Happy with Excess Money

                  The key to a secure financial future doesn’t only belong to financial experts.

                  It’s possible for you and I. What if you were able to retire earlier than most people and weren’t a financial planner? What if you were able to focus on what you enjoy doing the most while your money was working hard for you?

                  I know this sounds impossible now, but the truth is you’re capable of taking charge of your retirement. I’m not a financial expert but I’ve learned how to invest my money by reading books and learning from others.

                  Investing your money is scary. So start small and invest a small amount of your money with a robo-advisor. Feel your money drop and rise for a month or two. Then, invest more and keep this up until you’re aggressively saving for retirement.

                  One day, you’ll wake up with a net worth you’re proud of – confident about your retirement. You now know a few strategies you can use to invest in your retirement. Will you take action to retire happy?

                  More Articles About Making Wise Investment

                  Featured photo credit: Matthew Bennett via unsplash.com

                  Reference

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