Schwab funded a research study to find out what the next generation – “Generation Now” – believes and how it views the world. They wanted to understand how they view their future, determine their fears, attitudes and behaviors.
“Generation Now” is 30 – 45 years old. They have graduated from college, have a career and are making good money. But as they reached adulthood, the events they grew up with shaped them and their attitudes.
It just seems that everything is a lot more shaky these days. I feel like a crash or something coming in the markets. Yeah it’s kind of stressful
This generation’s life experience is different from their parents, and it makes them feel insecure. The economy, 9/11, foreign wars and political tension at home has had a significant effect.
There’s always that lingering threat that you never know what’s going to happen. The economy can turn south at any point in time.
They probably have no pension where they work. If they have children they face daunting college costs. If they have cash, they are hoarding it, like a safety blanket; against the rainy day that they are certain will come again.
For shorter term, I guess my criteria are having money easily accessible and having little to no risk, because I kind of treat that as an emergency fund, like if something catastrophic were to happen, or if I were to lose my job or have a big injury or something, that I could get to that money.
This is the first of 12 posts examining Generation Now.
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