Fainéant Generation
This morning while reading The Glob & Mail , I came across a full "strategic council poll" on lifestyles and attitudes of generations from pre-Boomer age to The Echo generation...which is what the current 20-29 age group is called (apparently. It's here in the left hand column, if you're interested in going over statistics by generation.
So here are the demographics:
Echo (Age 20 – 29)
Gen X (Age 30 – 39)
Younger Boomers (Age 40 – 49)
Older Boomers (Age 50 – 59)
Total Boomers (Age 40 – 59)
Pre Boomers (Age 60+)
I found this portion of the poll interesting:
"Though they are often still living with their parents, a care-free echo generation is anticipating a very bright financial future.
The echo generation is living life to its fullest. Compared with other generations they are more likely to exercise (73% exercise 3 or more times a week vs. 62% of the general population), go out for dinner (23% vs. 13%), have sex (46% vs. 28%) and smoke marijuana (7% vs. 3%). Often still living with their parents (36%), many (35%) acknowledge they may be working fewer hours than their parents did at their age.
Overall, this generation is satisfied with life, and is very optimistic that it will get even better.
Half (50%) report they are very satisfied with their lives, with 43% saying they are somewhat satisfied.
Almost 9 in 10 (87%) say they expect life to improve greatly (52%) or somewhat (35%) in the next 10 years.
They have few concerns for their financial futures. In comparison to other generations, they tend to be confident in their financial security in old age (46% very confident), and expect their standard of life to increase following retirement (39%). And, not only are they expecting inheritances to help them out (54%), they fully intend to have the wealth required to leave one for their children (92% of those with children)."
Isn't that special.
So, let me translate for you:
"Though they are often still living with their parents, the care-free echo generation is anticipating a very bright financial future.
The echo generation is living life to its fullest on their parents backs. Compared with other generations they are more likely to exercise,(because they have a lot more free time on their hands, since mommy is cooking and doing their laundry for them) go out for dinner (because they have more expendable income thanks to not having to pay rent), have sex (in their parents basement) and smoke marijuana (hey...they can afford it). Often still living with their parents (36%), many (35%) acknowledge they may be working fewer hours than their parents did at their age ('cause hey, I'm entitled, and working is tiring).
Overall, this generation is satisfied with life, and is very optimistic that it will get even better, after their parents die and they inherit everything their parents broke their backs to make.
Half (50%) report they are very satisfied with their lives, with 43% saying they are somewhat satisfied, but only because their parents won't spring for that vacation they feel they're entitled to because they exist.
Almost 9 in 10 (87%) say they expect life to improve greatly (52% - parents will have left me everything) or somewhat (35% - parents will still be alive) in the next 10 years.
They have few concerns for their financial futures, any why should they? In comparison to other generations, they tend to be confident in their financial security in old age (46% very confident), and expect their standard of life to increase following retirement (39%). And, not only are they expecting inheritances to help them out (54%), they fully intend to have the wealth required to leave one for their children (92% of those with children)."
That last line kills me.
I know that it's a few generations away, but I don't think that members of the echo generation are going to provide for their children what their own parents provided for them.
It's a selfish generation, and I think that we're going to do a full swing back to kicking your kids out at 18 to fend for themselves.
This last generation isn't going to tolerate from their children what their parents tolerated from them.
They're far too self-revolved.
And I'll tell you what....I'll bet most will blow what their parents built and have very little to leave their children.
Yeah...harsh, eh?
But listen,...I'm not talking about everyone am I?
I will tell you that I'm watching the change and shift in the way in which many younger people view themselves, and what they see as their expectations from their parents.
It's only going to get harder for the generations to come.
The "echo" generation is not nearly as generous as the generation before them has been.
But, that's just one opinion.
This is coming from someone who is watching Gen X'ers run to fix everything for their kids which will only serve to make them weak, and unable to cope with the difficult situations life will surely bring.
Many GenXer's I know depend heavily on their parents to help with raising their own children...so...I dunno...you tell me.
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