Also referred to as GEN Y, millennials were born between the early 80s to the mid-90s. These people are children of the baby boomers. When baby boomers die, they leave all of their worldly possessions (and money) to their kids – the millennials. However: millennials aren’t particularly fond of “things”. They don’t want their parents’ stuff. Of course millennials happily inherit money but art, old furniture, fine china, houses and possibly even cars are things that they are more likely to see as something that they have to deal with – because they likely don’t want it.
Leaving Everything to Your Kids?
Even if millennial heirs decide to keep a piece or two from their inheritance for its sentimental value, this still means that they’re going to have to figure out a way to get rid of the rest of their entire inherited household- which will inevitably be a long and drawn-out process.
If you’re planning on downsizing before that last will and testament day comes along, you probably don’t have to bother asking your kids if they want whatever you’re clearing out. It’s very likely that the answer is no.
So, what do you do with all your stuff? We’ll explore that shortly. First let’s take a look at why millennials differ so much from other generations.
What Makes Millennials So Different?
Whereas baby boomers like to spend their free time gardening, mowing lawns, building additions onto their homes, etc., their kids simply want to throw dishes in the dishwasher and go. No polishing silver, no handwashing fine china- they want durable and low maintenance items.
Millennials also don’t have the big fancy homes that baby boomers preferred. They are not going to have room for eight matching chairs, a dining room table, hutch, buffet, server and more. They are, in a sense, minimalists when it comes to certain things.
Do you have a DVD collection, record collection, etc.? Physical media is somewhat outdated. Everything today is streamed or available by other sources online. Even paperwork has fallen to the wayside. The world is digital, and millennials like it that way. When everything exists online there is less clutter.
Millennials also tend to move frequently. In order to advance their careers they may change jobs or move from location to location. When they pack up to go, they don’t want to have to pack a lot of stuff.
Still Thinking about Downsizing?
Downsizing before you reach the autumn of your life is not a bad idea- you just have to figure out what to do with all of your beloved belongings. Since we’ve established that your kids probably want very little of it, what can you do with it?
If your kids have been honest with you and expressed their lack of interest in what you consider beloved belongings, there’s a simple, painless solution. Contact a representative of Showplace Estate Buyers. We buy a wide assortment of household items including everything from furniture to jewelry to art, and more.
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