Are you “relevant”?
More and more these days, I am feeling irrelevant. Like, I don’t understand today’s slang, today’s music, today’s comedy, or (some of the) outrageous fashions. As an example, I asked google what is trending right now. Here are the top ten:
- Tiktok ads
- Oura ring
- Prime gaming
- Crypto insurance
- Drunk elephant
- Daily harvest
I literally had to google all but two of these topics. FYI, Drunk Elephant is a skin care line.
Also, I have asked my adult children (30’s) why Saturday Night Live is no longer funny – as in I don’t understand what is funny about their skits anymore. And what did they tell me? “Mom, you’re not supposed to understand it.”
I suppose it’s just the same old generation gap that has existed forever, right? I’m sure the cave parents didn’t understand when their children started using tools… or the wheel. And rock and roll, and the bikini are good examples from our lifetimes. According to Investopedia, “[a] generation gap refers to the chasm that separates the beliefs and behaviors belonging to members of two different generations. They state that the generation gap has widened in the 20th and 21st centuries. Here are some of their key takeaways.
- A generation gap is defined as the different thoughts and worldviews held by different generational cohorts.
- The generation gap between individuals can be used to explain differences in the worldviews and actions observed among those of different age groups.
- The current living generations are the Greatest Generation, the silent generation, baby boomers, Generation X, millennials, and Generation Z.
To read more about Generation Gaps, CLICK HERE
At Golden Bridges, one of the biggest “gaps” we encounter is in the significance of belongings. The three older generations value the things they have accumulated – either through hard work and frugal purchases, or through inheritance. The younger generation, starting with Gen X (and maybe some of the boomers) see only the cost of keeping those items. Whether they are renting a storage unit, or remaining in a two-story, 2000 sq ft home just to keep their “stuff” with them, the cost of housing that collection, that chifforobe, the Jewel T “autumn leaf” china or Precious Moments is pretty steep. There’s a good chance that they aren’t using the stuff. Maybe it’s nicely displayed in a china hutch or knick-knack shelf. Perhaps it’s in boxes in the attic or basement. More than likely, it’s in a rented storage unit. According to Storage Café, nearly 40% of Americans use self-storage units. For Gen X and Baby Boomers, it’s over 50%. Matthews Real Estate and Investment Services’ website reports that we spent $23.6 Billion on storage units in 2021.
The Storage Café website includes a lot more information, i.e. items stored, state by state comparison, and some of the most unusual items in storage. CLICK HERE for full report
How do we bridge that storage generation gap? That’s where Golden Bridges comes in. We can discuss with our clients the costs associated with keeping the stuff, the financial gain from selling the stuff, and the satisfaction of donating stuff. Not to mention the savings in downsizing to a smaller more cost- efficient living space. When the decisions are made, we can take care of the follow up by finding and preparing for an auctioneer, taking donations, or clearing out that storage unit – even packing and moving if they are ready.
Is it time to have that discussion with the Greatest Generation, Silent Generation or Baby Boomer in your life? It’s your move, Golden Bridges can help!
Susan Scholz, Partner