Understanding the differences between the various generations has always fascinated me. The motivating factors behind how the different age groups think, react and even invest, intrigues me. I guess it’s a combination of understanding why Generation X has a balanced approach to work and family life in relation to the Baby Boomers’ drive for business and the “me, me, me” behaviour of current teenagers.
At the beginning of the 1950s, the differences between teenagers and their parents started to emerge. Before the Second World War it was not as marked. The advent of television and women entering the work place formed the generational gap we know today. Television, which was popular by this stage, started portraying teenagers as juvenile delinquents and rock and roll, also gaining popularity, further widened the gap between teenagers and their parents. I guess the emergence of the hippie movement was also responsible for further exasperating the gap.
Different generations can be distinguished by the years they were born in and the behaviours associated with that generation were as a result of the outside influences prevalent at the time. For example the Traditionalists were born 1900 and 1945 and are otherwise known as the Silent Generation. They were influenced by the Great Depression, the Korean War and the Space Age. They were raised by parents who survived the Great Depression and grew up in financially difficult times, yet experienced wealth whilst growing up. All these external factors influenced the Silent Generation’s view on life, marriage, work and money. They believe in adhering to the rules, dedication, sacrifice and hard work. They do not question and they respect authority. They are conservative in their approach, they are savers and have more than likely worked for the same company their entire lives, enabling them to successfully retire at 65.
This is in sharp contrast to the Millennials born between 1977 and 2000 who change jobs frequently. Why the different behaviour? During September I will be looking at the different generations and the influences that shaped your and your children’s generations.
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