Goodwill is 'overrun' with stuff millennials and gen-Xers refuse to take from their parents, who pay up to $5,000 to get rid of it
Filed under: Finance, Personal Finance, Spending
Younger adult generations won't take their aging parents' stuff, reports The New York Times. Some of these parents are paying thousands of dollars for professional help downsizing. The resistance among grown children could be financial — or ideological. No one wants the family china.
Tiny houses. Tiny houses are cheap, mobile ... and have extremely limited storage. But that's not deterring the people who are flocking to more limited living space. Even the multimillionaire CEO of Zappos lives in a Las Vegas trailer park.
Minimalism and capsule wardrobes. Who could forget Marie Kondo jettisoning everything that doesn't "spark joy" in her bestselling book, "The Life-Changing Magic of Tidying Up"? One of the hottest trends in the fashion blogosphere in the past few years is the capsule wardrobe, in which you wear only a fraction of the clothes you own, ultimately aiming to isolate those you no longer need.
Early retirement. The way people retire is changing, and some people are doing it earlier than ever through a combination of aggressive frugality and extreme saving. As one example among many, take Brandon, who retired at 34 after years of extreme frugality, and told Business Insider he can hardly find ways to spend the money he has.
Renting ... everything. Many younger adults see the appeal of renting everything from homes to phones to clothes to cars. And companies are happy to help them do it.
Experiences over things. Psychological research repeatedly finds that spending money on experiences over tangible things makes people happier, and it's an ethos embraced by 20- and 30-somethings, some of whom even cast off traditional jobs and lifestyles to travel the world for years at a time.
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