Here is an excerpt:
While Hiemstra agrees that Gen Y has suffered a financial blow, he points to evidence that their values—the way they think about money–are shifting in a positive way, just maybe as a result. “Even before the recession took hold, Millennials were already in the process of redefining the American Dream—downshifting away from big income to other strong values,” he says. It’s a world view that depends less on financial success than personal goals and emotional connections, he says. Millennials have become less concerned about becoming wealthy than Gen X and the Baby boomers before them.
Also, yesterday, the Diane Rehm show featured a discussion on how income in the United States has not kept pace with production, inflation, prices, etc. The specific segment was on state budgets and public employees.
1 comments:
As a Gen Xer I wouldn't say that I'm so very concerned with "being rich," as I am with simply making a livable wage. But then maybe I'm an exception. Still, at age 43 I am much more concerned about money than I ever have been in my life, i.e. having enough to live on, being able to save for retirement, etc.
I think it is easier to not be so concerned with earning money when you're in your twenties. I know I wasn't. But as the years tick by, well, it's a different story.
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