Economic differences between older and younger generation

[SATWAT]

I agree on this. It's what I've observed to the younger generation. They lack of discipline and they cannot take long term take to any investment that they're looking at. As they lack discipline, they also lack in understanding and patience. They want to take things too quickly and want to see results of hard work on an instant. That's bad to be honest and all of it comes in a long run and won't just come rightaway. But I know that this younger generation will do better than the older ones because of modern innovation.

The new generation is leaving some things behind in the rush of life this is happening in every era just because of this no one can blame next ones changes are happening quickly which are surely killing ethics and moral.
Peoples have no enough time to check what they are losing and what they are gaining just enter in race and trying to achieve which is never been easy or possible, but race is going to stay ahead of all few years back loyalty was important, but now money is taking control of everything and peoples jumping without looking how deep they could be gone.
Technology bringing many features which are helpful but with this now humans losing their value which was most important now run fast and stay ahead is motto of life even at the end nothing going with us.

[Smartvirus]

The older generation had a high saving mentality. Buying land, buying houses, and saving were common for them. The current youth should invest in a planned manner to create wealth and have a saving mentality. The older generation had more responsibility and honesty towards work, which is very much seen among the youth today.

It is true that the older generation did come by some ease in their achievements, given that a lot needed to be discovered and they did but, I would maintain that they paved the way for the many things the younger generation enjoys today. They came up with the internet, they were engineers and created the wheels, they brought in industrialization and the younger generation just improved on these to better this time.

The older generation where more localized in making money, the younger generation have a large expanse that extends through the globe for which, they could earn a living without having to move an inch or know who’s at the other end. There really is some pros and cons to them both.

[ancafe]

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?

There are clear differences between the past and today's youth, and perhaps many things have changed. Today's youth tend to prioritize a luxurious lifestyle and lack the attitude of working as a long-term process, making it difficult to create a more purposeful life. Working from home isn't a big deal as long as they can calculate the long-term process, as hoping for quick wealth is the style of today's emotional youth.

The older generation prioritizes stability even though they can't make a lot of money quickly. We also differ in terms of patience from the younger generation, as they tend to appreciate the process of achieving success in life, while we prefer to rush things, which leads to a lack of careful planning.

[Xcode7]

There are clear differences between the past and today's youth, and perhaps many things have changed. Today's youth tend to prioritize a luxurious lifestyle and lack the attitude of working as a long-term process, making it difficult to create a more purposeful life. Working from home isn't a big deal as long as they can calculate the long-term process, as hoping for quick wealth is the style of today's emotional youth.

The older generation prioritizes stability even though they can't make a lot of money quickly. We also differ in terms of patience from the younger generation, as they tend to appreciate the process of achieving success in life, while we prefer to rush things, which leads to a lack of careful planning.

Only some of them are like that, in general I think the young generation of the past and the young generation of today are the same, namely they both change jobs just because they want to find a job that suits them and that they like. I think this is quite normal for the young generation because they still have the opportunity and convenience for that and besides that, there is no burden or responsibility in life which is one of the reasons that is different from the older generation who do not have many choices other than working in an existing place because they do not easily find other jobs and also the responsibility for a big life that requires them not to take many risks.

[Obari]

Here are things that makes us very different from the old generation

• Newer generation are impatient
• Newer generation tends to be living expensive lifestyle, impressing people.
• They tends to copy others lifestyle
• clubbing and spending money without having proper financial management
• Wanting to meet up by all means without knowing that life is a process (a time to plant and a time to harvest).

I won't say we're impatient because that's more of generalisations and everybody aren't the same. We have people in this time that have more patience than those of the past or older generations. Things are more expensive than before so saying this generation is spending too much isn't a balance comparison because we can't used the purchasing power of then to compare with now. Inflation have made everything over expensive that if you want to live a decent lifestyle, it'll look like you're wasting money. The living standards then is better than what we have now. Clubbing has always been a part of civilization and I can argue we don't do it like the 80's. I see pictures and videos of our forefathers and then I realized we aren't evening doing anything.

Frankly we’re no were to be compared to our forefathers in times of partying and clubbing and though I’m not the party type, but from stories, pictures and videos I’ve seen about the party lives of our forefathers, I think even with all the modernization, we are no where close to the grooves our forefathers had and if they had all these modernities now, I think they would have even done worst.

I also agree with @brainboss that, the spending power now is insane, back then, with 1k naira, you could comfortably eat noddles to your satisfaction even with drink but right now, for you to eat a nice noddle without a drink, you will be having a budget of 3k naira which is thrice the previous price and these was less than 10 years difference and now can you imagine the difference for let’s say 20 years back.

I also wouldn’t have to say this generation is impatient because that would be hasty generalization which isn’t fair, because we have a lot of people in this generation that would wait to take things one step at a time rather than cut through back doors and I’m not trying to speak ill of our forefathers but what I’m trying to say is that, just as you think this generation is worst, so they also thought previous generations were worst and the coming generation will also say same.

[harapan]

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

I notice the clear difference between the older generation and younger generation. And one thing I sighted is that the older generation apply patience to things but the younger ones lacks patience. They are always on the go for better opportunities and another characteristics is that the younger generation are always after luxury lifestyle while the older are after longer-term achievement.

[fruktik]

Many. For one, it seems to me, the younger generation is prone to live beyond their means. That's probably one of the biggest reasons why many young nowadays can't progress economically. Can't even save. They'd rather borrow money to watch a concert than save.  

But I'm not blaming them. In the modern times, there's just so many things to buy, to spend your money on. It isn't like this in the years of old. There wasn't even a movie to watch, no phone to buy. There was even no internet, water, electric bills to pay.

My grandparents and their siblings all built their houses when they got married. Today, their grandchildren's families are growing bigger in rented apartments.

In my country, a few decades ago, there was exactly the same situation. There was nothing. Not even TVs. Time to read books and other literature. People are much smarter than the current generation, which is not able to cope with basic things and everyday affairs. You look at these zoomers and you become afraid for future generations. What will they get? Well, it's all complicated. If we do not move to a new level of development, it will be very difficult for our descendants.

[Egii Nna]

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

I notice the clear difference between the older generation and younger generation. And one thing I sighted is that the older generation apply patience to things but the younger ones lacks patience. They are always on the go for better opportunities and another characteristics is that the younger generation are always after luxury lifestyle while the older are after longer-term achievement.

Not only that, the younger generation now take it upon themselves that they must make it, no matter the case, which always ends up putting them in problems. For instance, they are all after a fast way of making money, which, at the end of the day, makes them end up losing the money entirely or even losing their lives. Some even go as far as committing fraud or engaging in drug trafficking.

This generation is cooked, I can’t lie. Everything is going astray. The good ones that are patient are also being tempted by the lifestyle of those doing bad, and all this starts from them living beyond their means.

[batang_bitcoin]

I agree on this. It's what I've observed to the younger generation. They lack of discipline and they cannot take long term take to any investment that they're looking at. As they lack discipline, they also lack in understanding and patience. They want to take things too quickly and want to see results of hard work on an instant. That's bad to be honest and all of it comes in a long run and won't just come rightaway. But I know that this younger generation will do better than the older ones because of modern innovation.

The new generation is leaving some things behind in the rush of life this is happening in every era just because of this no one can blame next ones changes are happening quickly which are surely killing ethics and moral.
Peoples have no enough time to check what they are losing and what they are gaining just enter in race and trying to achieve which is never been easy or possible, but race is going to stay ahead of all few years back loyalty was important, but now money is taking control of everything and peoples jumping without looking how deep they could be gone.
Technology bringing many features which are helpful but with this now humans losing their value which was most important now run fast and stay ahead is motto of life even at the end nothing going with us.

Many things have speed up our lives and how we project things. The technology that we use played an important role to our lives and to the society that we are in. It did a lot of things for all of us and that's why the life that we're living is quite faster than ever because we're enjoying what we have now than of the past. But if I will choose where I'll live, I like to live in the middle of it where technology is rising but not too fast so that I can always live with the conventional way of living and to enjoy life like the oldies did and while being young.

[ancafe]

Only some of them are like that, in general I think the young generation of the past and the young generation of today are the same, namely they both change jobs just because they want to find a job that suits them and that they like. I think this is quite normal for the young generation because they still have the opportunity and convenience for that and besides that, there is no burden or responsibility in life which is one of the reasons that is different from the older generation who do not have many choices other than working in an existing place because they do not easily find other jobs and also the responsibility for a big life that requires them not to take many risks.

Job-hopping also doesn't guarantee someone's chance of achieving financial freedom, especially if they face conditions where finding work is difficult. There are differences between the generations past and present, more about the stages that make them stay in their jobs. The younger generation today tends to want something quick, so they think they can achieve wealth quickly.

Just look at how our parents were before, and how they patiently persevered in their chosen jobs, and ultimately, that patience led them to financial freedom. The concept is to be grateful and live everything responsibly so that at the right time we will definitely achieve success.

[Bitcoin_people]

The older generation used to stay in the company for the rest of their lives after completing their education, which is why they could not earn much money. Moreover, the older generation is not very updated, which is why there are still many people who do not believe in cryptocurrency and are still stuck in jobs. However, the younger generation is now so updated that they are getting a touch of modernity in all aspects. The younger generation is choosing online platforms as a source of income and they are earning money very easily in different ways.
According to what I have seen, there are many younger generations who are constantly earning a lot of money by investing in online platforms instead of jobs. They are gaining experience in online platforms as well as good investments and trading, although it is risky, but those who are experienced are gaining financially. So we can say that compared to the older generation, the younger generation is much more updated and they are not paying much attention to jobs, and we can say that the future generation will be even more updated and they will not pay much attention to jobs.

[shield132]

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?

The situation is different in every country. In my country, we often switch from one job to another because we want to earn a better salary and receive better treatment. I think that the elder generation is less risky and loves comfort but at the same time, I understand this because they depend on themselves, so if they risk, they have too much to lose while the young generation lives mostly for free in their parents house, sometimes they even receive money from their parents, even when they work and earn their salary, so these youngsters can easily risk because they have their back strengthened by their family.

Btw I also notice that the young generation mostly focuses on their looks, clothes and gadgets, while the older generation focuses more on the strength of the family and doesn't prioritise individual needs.

[Salahmu]

Frankly we’re no were to be compared to our forefathers in times of partying and clubbing and though I’m not the party type, but from stories, pictures and videos I’ve seen about the party lives of our forefathers, I think even with all the modernization, we are no where close to the grooves our forefathers had and if they had all these modernities now, I think they would have even done worst.

There are things our forefathers does better or even more than us and there are things the current generation are exploring that our forefathers do not have the privilege to buy however clubbing shouldn't be included as the things they did more than this generation because if you have been told a lot of story about them you would no that they prohibit alot of things especially most of the things that doesn't have moral impact on them , they could be good on entertainment but mostly normal singing and dancing but now this generation does clubbing far more than them because there are so many reckless spenders who are willing to visit clubs every night.

[sana54210]

The situation is different in every country. In my country, we often switch from one job to another because we want to earn a better salary and receive better treatment. I think that the elder generation is less risky and loves comfort but at the same time, I understand this because they depend on themselves, so if they risk, they have too much to lose while the young generation lives mostly for free in their parents house, sometimes they even receive money from their parents, even when they work and earn their salary, so these youngsters can easily risk because they have their back strengthened by their family.

Btw I also notice that the young generation mostly focuses on their looks, clothes and gadgets, while the older generation focuses more on the strength of the family and doesn't prioritise individual needs.

That is what the older generation always says. You think your parents and their friends didn't say the exact same thing about you and your friends? This is why never judge the newer generation, because you look at kids, and you look at culture, and things are always different.

So when you end up with 30+ more years, you will realize they are just like you right now. Like there are 20 year old kids that I look at, and do not understand what they are doing, but in their core, they are all humans, so in 20 years, they will be exactly like me, maybe using AI or something, like life may change, but still normal human like all of us. They are not weird, or care about their clothes, or anything, they are just 2 0year olds, your 20 and their 20 will of course be different. When I was 20, they weren't even born.

[sunsilk]

Btw I also notice that the young generation mostly focuses on their looks, clothes and gadgets, while the older generation focuses more on the strength of the family and doesn't prioritise individual needs.

This is so right. The younger generation don't even give importance with family ties. But the old one realizes that we've got one life to live and we're not going to stay on this world for too long.

That's the reason why family becomes a priority to the older generation. Whilst the younger ones is fed by the judgement and validation on social media and the society that they're part of.

I've been a kid and old, and I also want some gadgets when I was too young but didn't have it. Also, the older generations now feed themselves with the things that they cannot afford when they were young and poor.

[Jubilee58]

I could remember those days when the economy was okay ,the people were contented with what they do, the money they earn was enough to Carter for their responsibility, unlike today where because of rising inflation and high cost of living ,people are are now looking for high paid jobs to Carter for their responsibility making people struggle for white collar job. More also the younger generation because of the growing technology one can be working from home to earn a living using your laptop or phone without actually going out .

[bubilas]

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?

The difference between the current generations and the old ones is so huge that I was very surprised to learn about all the details of how they relate to work, career and, in general, their professional development.
For example, I read that the generation born from about 1980 - 1995 is very responsible and constantly tries to build a career, unlike the next generation, which constantly digs into itself and tries to subtly feel this world.
True, I don’t quite understand how they are going to live, earn money and build a house for themselves with a frivolous attitude.

[junder]

Btw I also notice that the young generation mostly focuses on their looks, clothes and gadgets, while the older generation focuses more on the strength of the family and doesn't prioritise individual needs.

This is so right. The younger generation don't even give importance with family ties. But the old one realizes that we've got one life to live and we're not going to stay on this world for too long.

That's the reason why family becomes a priority to the older generation. Whilst the younger ones is fed by the judgement and validation on social media and the society that they're part of.

I've been a kid and old, and I also want some gadgets when I was too young but didn't have it. Also, the older generations now feed themselves with the things that they cannot afford when they were young and poor.

Only a few young people already have an income and they pay attention to their families, at this time a high lifestyle is their reference for working so the income they get is prioritized more for their own desires than helping the needs of the family, this is more directed at the awareness of each because I think there are also young people who do work to support the lives of their families, but maybe the number is less than those who prioritize lifestyle so that they can be seen by many people, especially their friends in the environment.

[Dingoman]

A common feature of human society is the economic gap between the older and younger generations. At different stages of human life, an individual's income, expenditure, savings, and needs change, resulting in economic gaps between the older and younger generations.

The younger generation is at the beginning of their careers, so their income is relatively low, but there is a huge potential for growth in the future. The younger generation generally spends more money on education, technology, entertainment, and new experiences. There are also many younger generations who, due to family insolvency, have to deal with the pressure of educational debt or expenses, and therefore do not have the opportunity to save much. However, those young people are able to quickly adapt to modern technology and the global workplace and create new creations.

On the other hand, the older generation is entering retirement after a long working life. Their income is unlikely to increase in the future. The economy of the older generation mainly depends on their savings, property, pension or retirement benefits. Therefore, the income of the elderly, although relatively stable, is limited. In addition, a large portion of the income of the elderly is spent on the health sector. As a result, the expenditure of the young is different from that of the elderly.

The younger generation's goal is to enjoy life, save, and reach the pinnacle of success, while the older generation's desire is to spend the rest of their lives in a healthy and happy manner with their family.

[Mame89]

There are clear differences between the past and today's youth, and perhaps many things have changed. Today's youth tend to prioritize a luxurious lifestyle and lack the attitude of working as a long-term process, making it difficult to create a more purposeful life. Working from home isn't a big deal as long as they can calculate the long-term process, as hoping for quick wealth is the style of today's emotional youth.

The older generation prioritizes stability even though they can't make a lot of money quickly. We also differ in terms of patience from the younger generation, as they tend to appreciate the process of achieving success in life, while we prefer to rush things, which leads to a lack of careful planning.

Only some of them are like that, in general I think the young generation of the past and the young generation of today are the same, namely they both change jobs just because they want to find a job that suits them and that they like. I think this is quite normal for the young generation because they still have the opportunity and convenience for that and besides that, there is no burden or responsibility in life which is one of the reasons that is different from the older generation who do not have many choices other than working in an existing place because they do not easily find other jobs and also the responsibility for a big life that requires them not to take many risks.

The most obvious difference is, of course, inflation. In the past, people had enough income to cover basic needs and even save because prices were still affordable. Today's generation lives in an era where everything is expensive, and jobs are increasingly difficult to find even if they do, their income isn't enough to cover basic needs, let alone invest and buy their own home.

This is different from the previous generation they could buy their own home regardless of their job because property prices weren't too high. What you're saying is not wrong; the mentality of the previous and current generations is also very different, especially in dealing with pressure and refusing to be controlled. This is why many young people don't want traditional jobs they prefer freelance work.