I have purged everything 5 times in the last 10 years, twice after losing wonderful husbands (apparently part of my grieving process), three moves, and 134 pound weight loss. I felt lighter and much better after each downsize. The majority of what I have now is quilting (stash and related) and my clothes. I can get by with very few possessions otherwise. The wonderful thing about traveling light is so much less to worry about and keep up. Very freeing.
Even though I am pared down, every January I go through my quilting fabrics and tools clearing out anything that does not bring me joy. I am independent and, if I choose, can move my life in a different direction at the drop of a hat. If my family needs me, I am almost always readily available. All I really need is a home base for my quilting. How I wish I had learned not to acquire unnecessary things much, much sooner!