Three years ago I downsized in nearly every way.
I went from a 2700 sq foot home filled with belongings to a 800 sq foot home and a 5 x 5 storage space.
This was mostly accomplished by selling, donating or giving away a lot of stuff and digitizing the rest. I also received
a long awaited divorce and launched my only child into adulthood. I now rent and never have debt, so basically this means I have no contracts - not with any banks, companies or individuals...I can pull up stakes at any time.
My employer pays my transit expenses and I've seriously reduced my telecom service costs lately. My one and only big expense is rent, due to location, but I am working at ways of reducing that.
Soon, I'll likely start donating my small DVD and remaining book collection - planning to download to a tablet from here on out.
Some question whether a computer is an example of minimalist living. I would challenge that a computer is a small footprint item which enables minimalist living through vast storage and eliminates need for paper, pens, calculators (anyone remember those) and related items...
Things we own, end up owning us. Now in a much better life situation, with love, health and wealth...relatively speaking
I am too young to "age in place" - I am hoping for continued adventures.