Charting Changes in Retirement Attitudes Through the Generations.

Charting Changes in Retirement Attitudes Through the Generations.

For generations, retirement has been a financial goal that virtually everyone has had to think about. Although this has been a constant fact, the way Americans think about retirement and retirement savings has changed considerably. Members of the Baby Boomer generation have thought about retirement as a saving process that starts early and grows in value through personal contributions, employer contributions and investment.

Millennials – those young adults just now graduating college and entering the workforce – see retirement in a very different light.


Documenting a Change in Attitudes

Recent statistical data reveals some intriguing patterns regarding the attitudes of Baby Boomers versus the attitudes of Millennials when it comes to retirement, college education, homeownership and other major financial concerns. In many ways, we are seeing an inversion of thinking regarding retirement and about financial planning in general. For instance, data collected found that:

  • A majority (28.7 percent) of Baby Boomers purchased their first home between 18 and 25 years of age; a majority (32.2 percent) of Millennials purchased or planned to purchase their first home between 25 and 30. Roughly 24 percent of Millennial responders said they purchased or planned to purchase their first home at 30 – 35, while only 22% said they had or would become homeowners at 18 – 25.
  • Only 25 percent of Millennial respondents said they relied on a financial planner for information regarding retirement saving; this is in comparison to 35.1 percent of Baby Boomer respondents, who utilized the services of financial planners more than any other informational source.
  • Baby Boomer respondents overwhelmingly plan not to relocate for retirement (37 percent); on the other hand, the majority of Millennials (32.1 percent) had not even thought about where their retirement years might take place.

Attitudes about education between these two demographics vary in interesting ways, too. While respondents in every earning bracket ($0 – $24,999, $25,000 – $49,999, $50,000 – $74,999, $75,000 – $99,999, $100,000 – $149,000, and $150,000+) strongly stated that education was an essential part of career success, this was overwhelmingly so for Millennial respondents.


For instance, Baby Boomers in the lowest earning bracket were nearly evenly divided over whether a college education was very important or not very important at all (30.3 percent and 29.9 percent respectively). Half of Millennials respondents in the same earning bracket, said that college education was critical to their career success (50.3 percent). This pattern played out across nearly all other earning brackets.

Why Have Attitudes Changed?

A review of the findings suggests interesting conclusions about the priorities and ambitions of these two different demographics. However, given that Baby Boomers have already seen for themselves what effect choices like college education and homeownership have had on their lives, we should not be too hasty in making definitive statements about exactly why attitudes are so different.


Millennials are only barely starting to see the long-term implications of their financial decisions. If we came back to the same group of respondents in a few decades, we might see attitudes shifting to look more like their parents’ – or we might not.

For the time being, the assistance of financial planners is still going to be essential for Millennials thinking seriously about their financial future. They are actually thinking about work, but in a very different way that other generations do or did; technology is their greatest skill, they are critical, constantly connected with the society and the world. They need constant feedback, speed, connections and that’s how their achievements and success get valuable.


We definitely think that generations, are in constant movement and changing really fast. We are living in a fast present and fast future age where adaptability, is an essential, as aspects like self-actualization and mind development are the key to productivity.

So, which generation do you actually belong to? Baby Boomers, Generation X or to the famous Millenials?

Featured photo credit: Retirement via

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Erick Clifford


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9 Harsh But True Illustrations that Show Our Changed Society

9 Harsh But True Illustrations that Show Our Changed Society

Let’s face it.  We are living in a digital age, and there is absolutely no turning back. One of the biggest influences on society these days is social media. It affects us both positively and negatively. Social media was originally designed for people to share interesting facets of their lives with their friends, but it has become so much more than what it intended to be. It is now a medium for information to pass around the globe. In many cases, people first learn about current events through Twitter or Facebook before hearing about them from conventional news sources.

We also rely on technology for nearly everything we do. People these days seem as if they can’t go anywhere or do anything without their smartphones, tablets, or laptops. They need to be in constant contact with others via electronic devices.

However, there is also a downside to be too connected to social media and electronic devices. We are too dependent on them, which make us oblivious to what we are doing to ourselves. Being too connected can have a negative effect on our lives and the society as a whole. Here are 9 true illustrations that show how our society is negatively impacted because of the use of technology.

1. Facebook is eating away at your time.

Facebook is eating away your time

    How much time do you usually spend each day on Facebook or other social networking sites? Is it hindering your productivity? Do you find yourself wasting time to a point where you don’t even know where it goes? If the answer is yes, Facebook might have eaten away at your time.


    2. We’ve become “Likeaholics.”


      When you are posting something on Facebook, are you doing it just to see how many of your friends will give it the proverbial thumbs up? This illustration shows that some people are treating “Likes” on Facebook as if it was a drug they needed to inject into their bloodstreams.

      3. Our electronics have priority over our lives.


        Given a choice between your dying phone battery or you dying, which will you choose? In this case, the man in this illustration chose to charge his phone over to sustain his own life. As a society, we need to be more careful of our priorities.


        4. Families aren’t spending quality time together.

        mother baking

          Here is a mother making holiday cookies, but what are the kids doing? They are not making cookies with their mother. Instead, every one of them has their faces buried in their own electronic devices. Television used to be what parents use to babysit their kids. Now, it’s a tablet, phone, laptop or video game that does the job.

          5.  We’d rather record someone than help them.


            A lot is happening in this illustration. A black man is drowning and asking for help. One person has a gun pointed at him. The other person has their iPhone pointed at him and is recording the scene, but is not interested to help this man.


            6. Society is sleeping, it’s sleeping its life away.

            sleeping your life away

              Time is money. After we have wasted the long period of time on social media, we are losing the most valuable currency we have – our time in this world.

              7.  Despite all the technology we have, we still want what someone else has.

              wanting what someone else is having

                There’s an old saying that goes, “The grass is always greener on the other side.” This illustration shows that despite all that we have, we are still not satisfied with our lives.


                8. Sensationalism still sells.

                free expression

                  With the information overload that exists today, the media still looks for sensationalism. Here’s a woman who feels she has something important to say, but the media only cares about her because she is naked. Would the news media still have microphones in front of her if she wasn’t standing there topless?

                  9. In the end, with all of this, we are still killing the planet.

                  gun to mother earth

                    This last illustration argues that despite all of our technological gains, we are still polluting the earth as if we have a virtual gun pointed at Mother Nature. As we build bigger cities and higher technology, how much more damages can we continue to do before putting our lives at risk?

                    Featured photo credit: Jens Johnsson via

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