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.
Fresh memories of collapse
They have experienced two financial crises: the “Tech Bubble” collapse of 2000 and the real estate fueled “Great Recession” of 2008. These memories are fresh. The anemic recovery since then makes them feel vulnerable. Their belief that the long term will work out for them is shaken.
The economy has been pretty brutal. I’ve managed to keep my job, and my wife has managed to also keep her job, but we also have a family company that’s been in business for 50 years that actually ended 1.5 years ago. That was rather traumatic and difficult financially for a lot of people in my family. It’s something we took pride in, and that was hard.
This is the second of 12 posts examining Generation Now.
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