The Chicago Tribune just printed an article called “Heirlooms are Not Treasures to the Young,” saying that the long tradition of passing down family heirlooms may be coming to an end.
Julie Hall, a North Carolina liquidation appraiser, says “Over the next 15 years, the estate sale market will be flooded with silver flatware, china and heavy, dark furniture that will quickly depreciate in value.” Baby boomers’ children don’t want this stuff, even if their elders consider them family heirlooms. “The kids don’t want 3,000 square feet of dark, heavy furniture because they can’t fit it into their 1,000-square-foot home.” And they don’t want to polish silverware, or deal with china that can’t be thrown into the microwave or dishwasher.
A study by the investment firm U.S. Trust found that “fewer than half of wealthy boomers say leaving their children a monetary inheritance is a priority. One in 4 said they were concerned that money would make their children lazy, and 1 in 5 said their children would probably just waste it.”
So if china/silver/crystal/furniture are not treasures to the young, and boomers don’t want to shower them with money, what does make a valuable heirloom to pass down to the next generation? According to a study by Allianz Life Insurance Co., “86 percent of boomers said inheriting family stories and traditions is more important than inheriting money.”
That’s where Marshall Books comes in! These two journals, when filled with the stories of their family elders, make especially good gifts to the next generation: