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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGen X Was Right: Reality Really Does Bite
(Bloomberg) The members of Generation X have plenty to be grumpy about. For starters, no one talks about them anymore. Its all millennials all the time. Theres another reason Americans born between 1965 and 1980 are gloomy: Gen Xers are in even worse shape financially than the baby boomers who preceded them or the millennials who followed.
Sure, many boomers havent saved enough for retirement. And millennials are squeezed by high student-loan debt. But Gen Xers are still paying off student loans while raising families on wages that have barely budged in recent years. They have more debt than other age groups and are more pessimistic about ever being able to afford to retire, according to many surveys.
Almost 40 percent say they dont at all feel financially secure, and 38 percent have more debt than savings, more than any other generation, according to a recent survey of 5,474 Americans by Northwestern Mutual Life Insurance Co. On average, people in their 40s had saved $62,087 in 401(k) retirement plans at the end of 2013, according to the Employee Benefits Research Institute. That means Gen Xers who plan to retire at 65 have a considerable way to go to accumulate the $1 million theyll need to generate $40,000 a year as seniors.
Generation Xers are the forgotten middle child generation, says Faith Popcorn, a trend consultant who advises companies on generational differences. Theyre worried about both the present and future. They understand more than millennials that they could be replaced by robots and a lot of them dont think theyll ever be able to afford kids or qualify for mortgages. .............(more)
http://www.bloomberg.com/news/articles/2015-06-10/millennials-think-they-have-it-bad-generation-x-has-it-worse
Jesus Malverde
(10,274 posts)They earn the name locust generation for a reason.
Great post.
jeff47
(26,549 posts)No one ever talked about us except to say, "Who the hell are these people?"
Arugula Latte
(50,566 posts)I don't even feel like I belong to any generation. I'm sort of too young to be a Baby Boomer and too old to be Gen X.
jeff47
(26,549 posts)People similar in age tend to have similar desires and experiences. So you market to those desires via experiences. Reinforcing that commonality via pushing people into "generations" is also very helpful for marketing.
Our generation's small size means we weren't really marketed to. Sure, we got the usual "Make your parents buy you this toy" thing when we were very young, but in our adult lives the marketing was towards the boomers. There's just more of them.
Think about what happened to the commercials in a big sporting event. When we were younger, there were lots of commercials about beer, with guys surrounded by attractive women at massive parties.
Then time moved on and the groups got smaller, and it was less of a raging party and more about a smaller group of friends.
Then time moved on and the beer commercials gave way to insurance commercials and ads for Cialis. Because "sexy" changed from a horde of bikinis to two bathtubs. Or something.
Then time moved on and the commercials went to Depends and Cialis.
Then millennials turned out to be a big generation. So the beer ads are back with raging parties....mixed with Depends and Cialis ads.
Arugula Latte
(50,566 posts)We could just keep downing beers without having to take time out to go to the bathroom.
jeff47
(26,549 posts)Liberal Veteran
(22,239 posts)Jesus Malverde
(10,274 posts)AwakeAtLast
(14,130 posts)I have been mentioning this issue in posts a few times.
We had to navigate a job climate post-Reagan, and once we found a job it was for lower pay and benefits than those who were older. Then we were told that we complained too much!
Once we started to gain a little traction, 9/11.
I don't know about anyone else my age (45), but only by sheer determination am I now starting to see some hope.
I just jinxed myself, didn't I?
Orrex
(63,213 posts)Good times.
jeff47
(26,549 posts)If only I had organized my third-grade class, we could have stopped the Greenspan commission.
Orrex
(63,213 posts)When I was in grade six (1982/83), my science class had a unit on "Environmental Crises." I remember it with strange clarity, in part because I'd never heard the plural of "crisis" before that class, so the word was novel for me.
Among the topics discussed were:
Population/Food Crisis
Greenhouse Gas Crisis
Fuel/Energy Crisis
Clean Water Crisis
and others.
The point is, this was also the first time I ever heard the phrase "it will be up to your generation to find solutions for these crises." Even at the ripe old age of 12 I was able to see this for the scam it was: adults were washing their hands of all responsibility for problems that they'd clearly identified, if not caused outright, and they were handing them off to the next generation with little more than a pat on the back and a wish of "good luck to you."