“Conformity is the last refuge of
the unimaginative.”
―Oscar Wilde
―Oscar Wilde
Welcome to The Golden
Sense! There is a special moment that occurs in nature that we all know
about. We learned the details at some point yet we have forgotten them as well.
I am talking about the amazing process of chrysalis. This unique metamorphosis
occurs when caterpillar reaches maturity. As soon as a caterpillar has rested
after coming out of the chrysalis, it will have transformed into a butterfly.
The butterfly will pump blood into the wings in order to get them working and
flapping. At this point the butterfly will take off and fly. For all to see,
this is an amazing event.
Humans go through their own transformations in life as well. One of the most scrutinized changes is the shift from student to the professional workforce. Today, the millennial generation has been put under much criticism for this transformation. Commentators use the millennial classification for people born in the 1980’s through the 1990’s, also known as generation Y.
Humans go through their own transformations in life as well. One of the most scrutinized changes is the shift from student to the professional workforce. Today, the millennial generation has been put under much criticism for this transformation. Commentators use the millennial classification for people born in the 1980’s through the 1990’s, also known as generation Y.
The criticism often claims millennials don't understand the
work ethic it took in the "good 'ol days" or they are simply lazy and
have "get rich quick" attitudes. Study after study shows that younger
American adults ages 18 to 33 are less
likely to own a home, have a full-time job, own a car, or even use a
credit card than older American generations when they were that age. Are these
indicators a reflection of the generation’s aptitude or a consequence of
economic environment?
The criticism is well founded in regard to many
selfie-taking, Snapchatting millennials who do need to get their act together.
However, there is much more to this demographic than meets the eye.
The economic climate has changed rapidly over the past 10
years. The housing bubble, the financial crisis, and sky rocketing education
costs have changed the landscape of what was once America. The evolution of
technology, the large scale exchange of information, and the ease of travel
have also made a substantial imprint on this generation.
As with all major evolutions or changes many people will
struggle, others will embrace a new life, and some will profit handsomely.
The struggle has gripped a large portion of millennials.
These millennials are stuck with massive student loans and earning low or even
no wages. Their sluggish motivation may be as bad as the tattoos on their arm.
This is troubling but it isn’t a far cry from the long haired gnomes that inhabited
the communes of the 1960’s. It’s just a different style, that’s all. Let these
people be.
Many in this generation don’t own homes or carry credit
cards. This is a simple reflection of the economic environment in which taking
on long-term debt is equivalent to strapping a huge ball and chain around your
leg. This generation is trying to find a way to free itself and reducing
monthly payments is one of the first things that will lead to a more mobile and
productive lifestyle.
Many have embraced the new economic landscape and have
accepted its reality. "Lazy" is hardly a fair characteristic to
pigeonhole everyone with. I've personally witnessed many 18-22 year-olds (those
in college or other types of school) spend countless sleepless nights working
their millennial behinds off just to make the most out of their $150,000
education. These people have used their education and understanding of
technology to propel them into key roles of many successful businesses
throughout the country. Many of these individuals make decent salaries in a
very competitive globalized labor market. Others have embraced technology and
travel and have traversed the globe making connections everywhere from as far
as China to Paris. The world is a big place and the millennial generation is
one of the first generations not to be tied to a particular country but to
embrace the world for everything it has to offer.
A report from The Shullman Research Center, titled "Millionaires Have Their
Own Generation Gap," found that 23 percent of today's millionaires are
millennials. There are now about 5 million millennial millionaires. That's half
as many as the boomers. But it's more than the older and more established
Gen-Xers, who count only 4 million millionaires among their ranks. The
millennial generation has produced entrepreneurial geniuses like Mark
Zuckerberg and many others who lead the technology industry.
The world is dynamic and it doesn't make sense for all people to tie themselves down, take on debt, or purchase over valued assets. This is going to be tough on particular industries, but "times are a changing".
All ages and all generations will have to keep
up with this fast paced environment or they will struggle and get left behind.
It is not only a subset of tattoo ridden hipster millennials that need to up
their game, but many aging baby boomers and debt sloshed Gen-Xers need to make
serious adaptations as well. In a competitive and expansive global market it is
up to each individual to make the most of it. There is a fine line between getting sucked into poverty and becoming successful. It is a choice. Each person will have to choose which path they want to take.
Signing Off
T. Norman
