Dear Lee,

What one thing did I do this year that I would suggest others do? That was the question posed by a reporter interviewing me for a Bottom Line/Personal year-end feature.

I debated. Plant a new garden, then spend time working there to relieve stress? Work hard to get the 1910 Cleveland Carousel installed in a glass building where it can be ridden by the public and seen by passersby? Both good ideas, but I picked something most collectors can do: “Downsizing.” The young reporter told me that no one had ever suggested that before.

Death, divorce and disaster are always the main reasons for selling a collection. But downsizing should be added to the list. I have watched neighbors frantically emptying their houses so they can move to a new city or smaller home. And relatives visiting me say they’re worried about, for instance, what to do with Aunt Susie’s collection of 19th-century tools or ’50s furniture.

Last June I decided to go through the 50-year accumulation in my attic to see what was stored and forgotten—and to downsize the collections up there. It was fun and profitable. I found my daughter’s 1830 cannonball bed worth $750, and a pair of antique carriage lights worth $300 that were once mounted on either side of our front door.

There was a basket of vintage fabrics and another filled with old-style neckties, some too wide, some too narrow. I uncovered piles of 1970s magazines written for bottle collectors that I plan to donate to a bottle museum, and 20 framed “Cries of London” prints (worth $75 each) that hung in the hall before being replaced by oil paintings.

I reminded my kids that their old toys, two 1960s fold-up bicycles, a rock collection, a coin collection, old school books and their 1960s Moroccan rug were still in my attic—but not for long. I told them it’s time to store everything at their houses, and to sell or donate what they don’t want.

At the far end of the attic, I came across four birds-eye maple chairs ($100 each) from our old breakfast room, a pair of Empire table lamps (at least $500 for the pair), and nine unlabeled boxes from years ago still to be sorted. A true treasure hunt. I donated some things, sold a few antiques and got rid of the trash. Now I have more space to store new things, lots of rekindled memories and—if I keep at it—a lot less for someone to do when I finally move out of the house.

I recommend that you set aside a weekend and start downsizing. Ask for help from your family if you need someone stronger to carry things downstairs. For those without an attic, clean out a cluttered storage closet. I plan to downsize my basement next and prune the country-store collection down there.