Turley Blog

Ask anyone older than 55 years old what 1968 was like. You will hear these words: civil unrest, riots, wars, sex, good music and lots of weed which made the music better in their minds. Do those words sound familiar? In 1968 the 80 million baby boomers were 26 years old. Currently, 100,000,000 Generation Y’s are 26 years old. Many will say, “But it is so much more prevalent than in 1968.” Well there is 25% more young people today and a zillion more communication devices to tell us about it.

Here are 5 Significant Perspectives from Resolve Lending, Inc. when it comes to Generation Y.

1. Demographics don’t lie – we are not projecting 100 million – they have already been conceived.  When the boomers average age is 65, Gen Y will be 35 – Gen Y will not live with Mom and Dad forever –  See CDC link below to confirm numbers.

2. If you think Gen Y is not as “consumer driven” as their parents, “just look at their toy boxes” or ask anyone who works in the cell phone industry (ATT, HTC, Sprint) – they have been riding this Gen Y spending wave for the past 10 years. Or ask, why are “video games" so big right now?

3. Generation X had only 75 million and was called the “lost generation” – and you wonder why we had such low unemployment for so long (10 years)? We will see higher unemployment for a while just like in the 80’s when Boomer's then 32ish invented their way out of high unemployment.

4. If you are part of Generation X – we have seen the spending waves of the 80 million boomers and we will reap the benefits of the 100 million of their children. - Hold on to your home (s)! 

5. Throughout history the greatest innovations came out of the Gen Y type boom generations. Now think about a generation which interacts at our “current speed of light” for their entire life. We will see the greatest innovations in the next 15-20 years. Hopefully it is more than Facebook.

Listen wisely to what the media will say about cultural issues and remember there are 25% more today than in the past – this goes for most countries with young populations. Gen Y will not be an exact reflection of the boomer hysteria from 1965-2005 but if you listen closely you will hear the words: “Mirror, Mirror on the wall who is the greatest of them all” and you might start to see a clear reflection.

Call or email anytime, it would be great to connect,

Jeff

Website: http://www.cdc.gov/nchs/hus.htm (Special Report on Death and Dying, page 115)