Millennials are getting stuck inheriting collections of ‘stuff’ and they’re not having it
From Next Avenue – By Richard Eisenberg –
There are 10 overstuffed boxes in the living room of Nick Fox and his wife Sarah. It’s not that the Millennial couple haven’t unpacked their central Florida house. The boxes contain collections from Sarah’s grandmother Nani who died in 2018 and, Nick says, had a shopping addiction.
“She shoved all this stuff into a closet, forgot about it and then sadly passed,” notes Nick, 40, a Westwood One radio host and music scheduler. “Sarah’s mom, Liz, is a boomer who has been going through and triaging a huge amount of the stuff. We’ve gotten some of it because we said ‘yes’ to it and other stuff because Liz is just trying to get rid of it.”
The Baby Boom Stuff Avalanche
Never mind the estimated $27 million to $46 million in assets that Millennials (aged 29 to 44) may inherit from their boomer parents and Silent Generation grandparents in the Great Wealth Transfer. This is what’s been dubbed “The Great Stuff Transfer” and “The Baby Boom Stuff Avalanche.”
It’s about Oneida plates, Longaberger baskets, Hummel figurines, Dansk kitchenware, Pez dispensers, Beanie Babies and other tchotchkes the Millennials are getting, often not by choice.
And it’s a certifiable trend described in recent Business Insider and Bloomberg Businessweek articles.
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