Is it time to start to decumulate?
You’ve spent the majority of your life acquiring items. You’ve accumulated wealth and possessions. It’s the American Dream. However, you’re sick of it. There are signs that this truly American lifestyle may be coming to an end. Some believe that we are on the verge of an era of decumulation, especially the Baby Boomers, as they shed their large homes and opt for smaller, maintenance free lives. Combine this with the rise of the sharing economy (ie: Uber, AirBnB, Relay Rides) and there is less of a demand to own so much stuff.
It’s time to start decumulating.
Start by evaluating what you have. Your items will fall into three categories:
1) Keep, and move into your new home/apt. This are everyday items, such as coffee maker, couch and tv. Make sure they fit in your new, smaller place.
2) Storage, items you still need, but only need infrequently or seasonally, such a patio furniture, business records, winter clothing. Consider your storage unit an outsourced garage, or attic.
3) Purge, items that you can give away, donate, trash or sell. If your new apartment in the city only has one living room/den, you’ll probably only need one couch.
Always start as early a possible when going through a move of this size. Bring in friends or an unbiased outsider who can help you determine which items you can live without. You will feel great moving into your new smaller accommodations with room to breath. It can be very stressful when the movers leave and you don’t have a place to put everything!