Economic differences between older and younger generation

[Fortify]

Anyone noticed some differences between economic factors during the old times compared to now and how people react to these conditions?

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

You're making some pretty strange comparisons that seem to ignore all the big changes that have happened in the world over the last few decades. The internet has brought people together like never before and allowed people on the other side of the world to do office/admin jobs for cheaper at an unprecedented scale. Everyone knows that the best way to increase your salary through your career is generally moving jobs, because companies allow the salaries to stagnate for long term employees. Everyone complains about house prices but you'd think that older generations got handed it on a silver platter the way it's described - nope, they paid off mortgages over 25 years just like the younger generations have to do today, with slightly different dynamics (lower interest rates but also lower wages). Pretty sure that older people tried to maintain a good "work life balance" as well, whatever that means, they went through many of the same or very similar events on their way towards retirement.

[bakasabo]

The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

I have noticed, that younger generation that work 9 to 5, at 5:01 are already not in the office. Whenever something require spending extra, that is never paid, they leave it for tomorrow, even though it will them 5-10min to do. I have faced numerous times when it would be great if something is done today/now, so I could continue me work, answers « I have already turned off my pc» at 4:58-4:59. Those extra 5 minutes at work wont change anything in their life. They will spend them in queue waiting for coffee on a way home anyway. If not paid, they wont stay for extra minute at work. They dont have that feeling of team spirit, and rarely aim for promotion (maybe they think instead of working hard now, they better work for 10 years 5 to 9 and get promotion automatically).

[Alphakilo]

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime.

I think that things just got harder and more complicated for the younger generation than the older generation had it. For example to get from point A to point B in the past just required only two points which are AB. But for the younger generation, to get from point A to point B means going through point XYZ. It is not as straightforward as it used to be anymore.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

In my estimation, job hopping is just for the money. Are the younger generation being actually more productive that the older generation? Work life balance is good but in terms of mental health wise which generation is more broken. The older or the younger? If you ask me, I would say that it is the younger generation.

[ShowOff]

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

Consistency and a simple lifestyle are two things that, in my opinion, make the older generation appear more successful in adapting to changing times. The older generation has excellent financial management, they don't follow trends and strive to avoid excessive consumerism. This is what has led them to achieve financial freedom, unlike the younger generation, who seem to be overly trend following and adopting a glamorous lifestyle.

The older generation also prioritizes having a steady job that guarantees a monthly income, unlike the younger generation, who prefer freelance work. I think these are some of the characteristics easily identified in the older generation, distinguishing them from today younger generation. Another thing is mentality, the older generation seems to have better resilience in various situations, and does not easily complain about the circumstances they face.

[Roseline492]

Why the older generation are not job hopping as you said is that there was hardly an inflation then and there economy was perfect, everything was mostly working in accordance to the desire of people so this gives a kind of living fulfilment were as anything they got from there salary is sufficient for all the things they would need  but this is contrary to the new generation because everything from old has changed and taking different dimensions so people could no longer follow that part so they have to look for a balance so that economical imbalance will not have an effect on them being the inflation that is why high paying jobs is what everyone tend to look for.

[Botnake]

I can see that younger generation these days easily get impatient and lose their interest in their current job, which I think is not a good practice when we are talking long term economic progress here. Although I have to admit they’re being explorative and creative could create an advantage over those old generation, but life isn’t just all about adventures and fantasies, that at the end of the day they have to face the real battles in life straight and firm.

If only they can be more patient and somehow contented on things that already offer them the good things in life, then they won’t have to compromise their brighter future. Old generation are like this, hopefully this new generation would somehow adopt this kind of mindset as well.

[alani123]

Us millennials are the first generation that will live worse than our parents. Of course there's great economic differences.

And it's not just the fact that inflation is getting worse. There's also no end in sight of the jobs situation. Jobs used to be more rewarding in terms of what you could buy afterwsrds. Stagnation in wages form most jobs of course benefits the companies that profit more on our ksbour, but in the end we can't save up anything and can't even buy what we need or make our own plans.

[terrific]

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

Being resilient and adoptive. I think despite that the houses were more affordable on the older generations. But, they've gone through a lot as well.
From the bubbles, to wars and even gold rushes. That's why if it's about what the newer generations would like to learn.
Then, that's about being resilient and adoptive to the situation that they have. Today, there is a lot of opportunities that we can work with.
With or without internet, only the lazy ones will say that there is not a lot of opportunity. I understand that some particular countries, the opportunities are limited but, we have to find it and it might just be a few walks away if we try to look for it. Some will find us if we're skillful and experienced.

[Perfectbaby]

We are no longer in the time of old and we can't expect to turned down the hand of time to work in our favor or unlearn to learn things we didn't know before, let me surprised you; Don't be sure that the money value for then and now can like be the same why?
Because then to gain 200 to $1000 you are actually working or lucky and could cover a whole lots of things, compared to recent generation, they get money easily and there is much stress anymore to make money and you could be at your comfort zone to raise whatever amount you need because money is easily accessible unlike the old you need to work and work to save up such amount. Therefore, then everything where okay and life was very simple compared to now, although even though there are change it wouldn't be that much anymore due how technology has unravel lots of things out there.

[Muba20]

There are some differences in opportunities between the older generation and the new generation. It is certain that the people of the present day do not get the same opportunities that the people of the old generation got. Especially before the value of money was high. At that time, the job security of people was more. People's life was not very expensive. They did not have to go through the housing crisis. What about the younger generation? Especially the increase in the cost of living due to inflation has had a negative impact on every place. However, there are also quite a few differences between the people of that time and the people of the present day.

Generally, people of the previous generation were very patient. They did not change their jobs frequently. But the people of the present day change jobs very quickly. If they stay in their jobs for a long time, their knowledge and skills can increase.

The older generation used to build wealth slowly. But the people of the present day do not have such qualities. The young generation wants how to get money quickly. In which direction I think the older generation should be followed.

Moreover, the previous people were more concerned with doing something permanent, but the current generation is more motivated to invest in such platforms or businesses that can make a quick profit.

Some positive trends have been seen among the youth of this era, especially their technological knowledge is much higher. The new generation of people are comfortable and give priority to their freedom in all areas. It is certain that if we analyze both the new and the old, if we can accept the good aspects and move forward, then it will definitely be profitable.

[EarnOnVictor]

Anyone noticed some differences between economic factors during the old times compared to now and how people react to these conditions?

The difference is time and mismanagement. Our leaders have sold us already, which is why the desperation this time is higher than before.
 

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime

Inflation is a fact, but it is just one of the factors. Though it varies from country to country, the general economy of most countries is not good, and it is causing issues for this generation. You can't easily buy a car, own a house or get any good things that were easily gotten in the olden times.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

For me, there is nothing new under the sun. Like my aged father used to say, there's no time when money-making is easy, inflation is the major issue. Be it freelancing, moonlighting, or switching jobs, they all exist from time immemorial. The only difference is that people may not be as desperate and fighting for survival as we are now.

[Ishicryptic]

The older generation are more contented with what they have, they are satisfied with just meeting up with their basic needs, there was no competition to get rich quick, only a few people where very rich and it wasn't a problem for the poor. In this generation there is too much competition, everybody wants to live in the best houses in choice areas, drive expensive cars and go on vacations. The new generation are more innovative, they want to break barriers and attain greater heights which the reward is money. Many if the new generation don't have the means to enjoy life like the rich and they will do everything possible to get money. To rate of crime has increased since the creation of the internet, cyber frauds have become a normal thing, people get scammed every second if the day.

[Reatim]

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

In my estimation, job hopping is just for the money. Are the younger generation being actually more productive that the older generation? Work life balance is good but in terms of mental health wise which generation is more broken. The older or the younger? If you ask me, I would say that it is the younger generation.

honestly i think that the younger generation is just more outspoken about their struggles compared to the older generation where we were taught to never show any kind of weakness but i will agree that some youngsters nowadays are too sensitive and very easy to give up when met by challenges

[passwordnow]

Culture is what I want to be preserved. Japan has got some culture preservation and they're good at it. But I think not all countries are having this. The new generation today won't care with what's with the culture and tradition that has been kept for generations. It's okay for them to change it because we're already in the modern days but I think, we have to look back from our roots and we need to respect that. It's just sad that even in the attitude of having good manners, this culture is starting to be seen gone for most young generations. The preservation of it isn't kept. Yes, they're good workers and very efficient but there's a lot of difference from the past compared to this day. They'll just reason out "don't live in the past".

[skarais]

Anyone noticed some differences between economic factors during the old times compared to now and how people react to these conditions?

Of course, everyone is aware of this.
I still remember how low the prices of gold and land were 15 or 20 years ago, but now they're incredibly expensive. It is clear that this is all due to inflation, the currency is losing its value.

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

Not all older generations are stuck in one job, some also change jobs for various reasons. Economic demands increase over time and if they are stuck in one job long-term, it's important for them to have additional sources of income. Some others are exactly like you said, but they stay in the same job because the income is good enough.

The younger generation demands more. We've seen and experienced the rising cost of goods, and persistent inflation is causing currency to lose its value. Wages aren't increasing and needs are increasing, forcing the younger generation to find suitable employment or perhaps seek additional income sources, even they still remaining in the same job.

[Oluwa-btc]

The difference between the older and younger generation is wholesome and very clear,the older generation benefitted from low costs while the younger generation is facing high costs, economic downturns and uncertainty, of which they're forced or compelled to adapt to a fast changing economy.

[Josefjix]

Older generation were programmed to a system of going to school, graduate with certificate, looking for job opportunities, but the system failed making them working for uneducated personal.

Younger generation are extremely versatile in digitalization era where opportunities are many, no certificate required, a 6 months training skill is enough.

The difference is clear, it's very clear.

[Despairo]

Older generation were programmed to a system of going to school, graduate with certificate, looking for job opportunities, but the system failed making them working for uneducated personal.

Younger generation are extremely versatile in digitalization era where opportunities are many, no certificate required, a 6 months training skill is enough.

The difference is clear, it's very clear.

Did you think the new generation aren't going to school, graduate with certificate, looking for job etc the same thing like what the old generation did? it's the same, younger generation are just unfortunate there aren't many job vacancy on the major they taught.

That's the reason why younger generation are looking for other jobs in online or abroad, if the old generation were lack of job vacancy, I'm sure the old generation would do the same.

[TastyChillySauce00]

Anyone noticed some differences between economic factors during the old times compared to now and how people react to these conditions?

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

Beside inflation, it's the fact that the already well established richer baby boomers are hoarding real estate, etc making housing scarce.

The younger generation tend to job hopping for the most part to seek for better salary, It's not a rare thing seeing people job hopping in the working sector for better wages.
After all that's what it takes for you to become financially better and improve your situation.

I'd say we live in different ages, what works for baby boomer won't necessarily works for millenials and gen z.

[Oshio-man]

The way old people were making it from economic  those days is different from the way the young people are making it this day op, those days you will use small amounts of capital to start a business you will begin to earn income from that business, but you can't try such thing in this young generation because the money will not even reach you to  transport yourself to the market to buy goods,  old times people were enjoying deflation so long because they have good leaders that have concern toward their economic and their citizens, which they will like to do what will benefit the country to increase their economic positively, but leaders of this new generation don't approach what will benefit the citizens and economic, than to focus on how to steal from the government account to enrich their families and cause inflation in the country.