Listen Now: Downsizing
Baby boomers looking to downsize are running into a big problem; no one wants their stuff.
For many people retirement means selling your home and downsizing. But according to Forbes Magazine, getting rid of their belongings is easier said than done.
Over the years people collect souvenirs, pictures and knick knacks. But when it comes time to hold that garage sale few people are buying because the younger generation stores all their memories in their favorite handheld device. Plus your stash of vintage lunch boxes might not appeal to anyone else.
So when it’s time for you to move to greener pastures the first step is deciding what to keep and what to toss. Ask yourself if your son is really going to want your stamp collection? And do you need all sixteen of these photo albums? Keep things you can’t replace and donate or even chuck those items just taking up space.
If you’re storing things for your children or grandchildren, move it into their house. But if you’re one of those people who just can’t seem to give anything up, consider a storage unit.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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