Baby boomers are ready to transfer personal treasures to their heirs. The problem is no one wants them

But boomers are also passing down possessions they’ve accumulated over the course of a lifetime as part of the Great Stuff Transfer. It includes fine china, silverware and crystal-cut stemware from their wedding, a heavy wooden dining set with matching hutch that’s lasted decades, and a piano that hasn’t been played in years, likely decades.

Then there are the collections, like teacups, porcelain figurines and decorative plates that don’t hold much monetary value anymore. And what about that collection of National Geographic magazines that span decades and take up an entire bookshelf?

Many boomers are finding that, as they downsize or start giving away their treasures, their kids and grandkids don’t want any of it.

Even if you paid good money for them, holding on to prized possessions that nobody wants can actually cost you. Here are a few ways to let go and move forward.

Why younger generations don’t want stuff

Baby boomers were shaped by their parents, the Silent Generation, who grew up during the Great Depression and Second World War. They were taught to be thrifty, to save and reuse. Then they came of age in the post-war era of economic prosperity.

“You saw a relatively unprecedented middle-class accumulation of stuff,” June Cotte, a professor of marketing at the University of Western Ontario’s Ivey Business School in Canada, told the Financial Post.

Some of it has sentimental value. Cotte’s parents, for example, owned bedroom furniture made by her grandfather. “It is an emotional thing to get rid of, and that’s probably why boomers hold on [to these items] for so long,” she said.

But there are practical considerations — whether offsprings actually want that stuff. Cotte said she doesn’t have room for the furniture, and neither do her siblings.

In part, that’s a space issue. Housing costs are out of reach for many younger households. Median new and existing home prices are over $400,000 — up 54% nationwide since 2020 and nearly five times median incomes, according to the latest State of the Nation’s Housing report.

With a significant shortage of affordable housing, many younger Americans are choosing to rent instead of buy. If they do buy, they’re more likely to live in less square footage than their parents (empty-nest baby boomers own 28% of homes with three or more bedrooms).

That hardwood dining room set with matching hutch isn’t exactly going to fit in a 600-square-foot condo. Younger generations might also move more frequently for work, which makes it a pain to move, or they might just have more of a minimalist aesthetic.

Whatever the case, the Great Stuff Transfer could be a painful transition.

The hidden costs of stuff

Some baby boomers, in the process of giving away their prized possessions to Gen X and millennial family members, might choose to rent a storage unit if their heirs don’t want it and if their newer homes are much smaller.

But the cost of a storage unit — not to mention the cost of haulage — can add up over time. About one in three Americans currently use storage, with an average rental rate of $119 per month.