Why are Baby Boomers Downsizing?
Baby Boomers are a demographic group of over 72 million people between the ages of 57 to 75. Parents of baby boomers, roughly 22 million Americans over the age of 75, often did not retire until their mid to late 60’s, or even into their 70’s. Baby Boomers are retiring and a much earlier age and, since many have large, empty homes, are now deciding to downsize.
Baby Boomers downsizing is creating a tremendous strain on the moving and storage industry. Because many of the Gen X and Millennial children of downsizing baby boomers do not have interest in keeping a lot of the contents of their parents’ homes, much is being donated, sold and/or stored. Moving companies across the US are experiencing a tremendous increase in demand for moving and storage.
But why are so many baby boomers downsizing all at once? There are a few reasons. Here are 3 main reasons baby boomers are downsizing.
Quality of Life- Many baby boomers have watched their parents work late in life, waiting to retire and enjoy life, only to see them not enjoy their retirement because of failing health. Many savvy baby boomers have been able to invest well and have the resources to retire early enough to enjoy the things they put-off while they worked and raised families. Selling their larger homes early and downsizing allows baby boomers to simplify their lives and enjoy more of their fruits of labor.
Two Homes- Many baby boomers are downsizing their larger home(s) to 2 small homes in different locations. This allows them to live in the Northern areas in summers and in Southern areas during winter seasons. Baby boomers who downsize their larger homes will need to refurnish their small homes with less items than they had, creating a large inventory of unwanted household items.
Uncertainty- In the past 16 months the US has experienced the worse health crisis in the history of the country. Many people lost jobs because businesses just never could recover from the mandatory shutdowns. This has promoted many baby boomers to downsize in order to reduce the risk of losing their homes, if they lost their job. Being leaner and more mobile is the new norm for many baby boomers who chose to downsize over the past several months.
The William C Huff White Glove Moving and Storage Company has been helping families upsize their homes for over 33 years. The same reputation for upsizing is now a reputation we have for downsizing baby boomers. Over the past 7 years, the Company has helped thousands of families with their downsizing needs. Professional packing, crating, art handling along with state of the art climate controlled storage and highly experienced staff, makes it easy for baby boomers downsizing.