New financial data highlights generational rifts
(from the very interesting Penelope Trunk
Brazen Careerist blog)A group of think tanks, lead by the Pew Charitable Trusts, found that for the first time, men in their 30s are earning less than their parents. For the first time ever, this generation will not be more well-off financially than their parents. What should we make of this new finding? Does this mean the American Dream is no longer attainable?
Probably not. Because this statistic is just a magnified section of a much larger picture – of the great generational shift taking place in America since Generation X became adults.
The shift is in the definition of the American Dream. Our dream is about time, not money. No generation wants to live with financial instability. And we are no exception. But finances alone do not define someone’s American Dream. Especially when our dream is about how we spend our time.