Downsizing Definition – How Downsizing Is Impacting America

Downsizing Definition – How Downsizing Is Impacting America

Downsizing Definition

downsizing definition
Baby boomers are downsizing and changing the definition on Wikipedia. Take notice Wikipedia!

 Wikipedia- Downsizing may refer to: Layoff, temporary suspension or permanent termination of employment of employees.

As can be seen in Wikipedia, the first definition for downsizing has to do with “termination of employees”. In the late mid 80s through the late 90’s, manufacturing shutdowns were all people talked about and layoffs were ultimately a result of a company “downsizing”. Today, the term has a different meaning.

Redefining the Definition of Downsizing

I suspect I was one of the very first people in the “reliable moving” industry to have applied the word “downsizing” to the American family.

Several Years ago I became engaged in conversation with June Fletcher, a real estate writer for the Wall Street Journal, on the topic of “Downsizing” and its’ definition. A few days later an article appeared in the paper, “Downsizing, by June Fletcher”. Of course now it is the buzz word for practically everything to do with our rapidly aging demographics. Heck, there’s even a movie titled “Downsizing”, in which the main character actually downsizes his body in order to make his older years more cost effective.

Why Are We Downsizing?

Over 77 million baby boomers began retiring approximately 7 years ago and as they have done this, they have been selling their primary residence to simplify their lives. Unlike the 25 million parents of the boomers, who often lived in the first house they moved into, baby boomers moved an average of 4.5 times up until retirement. Along with the financial success of the boomers came bigger homes and, more stuff in these homes. When the kids moved out and moved to warmer weather in the Southern states, boomers have followed suit and have been selling and relocating at an alarming rate.

How Are American’s Downsizing?

  • Estate sales
  • Yard sales
  • Consignment shops
  • Non-profits
  • The Dumpster!

But there is a method to how to downsize and at to use the downsizing triggers bulleted above. We have helped numerous companies downsize and the hardest part is knowing when to start and how to start. We hope this posts helps you formulate a plan for both. Please let us know if we can help you execute your downsize.

Here is to many positive changes in 2018, including downsizing and simplifying your life.

-Jim

Note: Please visit out friends at KGT Remodeling who wrote an incredible piece about downsizing your vacation home or condo.

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