A large body of applications that involve monitoring, decision making, and forecasting require timely status updates for their efficient operation. Age of Information (AoI) is a newly proposed metric that effectively captures this requirement. Recent research on the subject has derived AoI optimal policies for the generation of status updates and AoI optimal packet queueing disciplines. Unlike previous research we focus on low-end devices that typically support monitoring applications in the context of the Internet of Things. We acknowledge that these devices host a diverse set of applications some of which are AoI sensitive while others are not. Furthermore, due to their limited computational resources they typically utilize a simple First-In First-Out (FIFO) queueing discipline. We consider the problem of optimally controlling the status update generation process for a system with a source-destination pair that communicates via a wireless link, whereby the source node is comprised of a FIFO queue and two applications, one that is AoI sensitive and one that is not. We formulate this problem as a dynamic programming problem and utilize the framework of Markov Decision Processes to derive optimal policies for the generation of status update packets. Due to the lack of comparable methods in the literature, we compare the derived optimal policies against baseline policies, such as the zero-wait policy, and investigate the performance of all policies for a variety of network configurations. Results indicate that existing status update policies fail to capture the trade-off between frequent generation of status updates and queueing delay and thus perform poorly.