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.
Return to timeless values:
Many “Generation Now” Investors, who previously placed greater emphasis on wealth and status, and found these aspects of their self-identity easily compromised by financial swings beyond their control, have been forced to reevaluate their priorities.
They’re focusing on creating meaningful experiences with family and friends – that typically don’t carry a high price tag – and drawing inspiration from their own parents, childhood and upbringing to find their way forward.
“Generation Now” may not yearn for the world of Ozzie and Harriett, but they long for many of the values of community that their parents and grandparents had. Some are downsizing from larger homes to smaller ones. Instead of meeting friends for dinner in expensive restaurants, they may prefer to get together at home for a dinner party.
A big life decision that my family and I made recently was to downsize a bit. We moved to west palm beach. And we did so from plantation to a three bedroom house from a five bedroom house, which was a pretty big decision for us. And we did that more or less so we could save more money, I should say, a lot more money. We needed to do that so we could get back in touch with what the more important things in life are right now. And that is family and saving for our future.
This is the sixth of 12 posts examining Generation Now.
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