Analysis of Differences in Education, Finance and Family Perceptions Between Baby Boomer and Millennial Generations

Introduction

The saying goes that no two snowflakes are made the same. The same can be said for two of the most talked about generations: millennials and baby boomers.

There are many differences between what we call the baby boomer generation and the millennial generation. As the younger generation, I feel that it is important that we take a look at the two.

As a member of the generation “Z” I find it very interesting how two generations could be so different, and wanted to do research to compare and contrast the two. I chose these two generations because most millennials are the children of baby boomers. Doing this research really helped me draw a few possible conclusions on what this upcoming generation, in which I am a member, has to look forward to. IV. (Central Idea/preview of body points) Though there may be several differences between the millennial and the baby boomer generations, there are two that stand out most to me: the educational and financial differences, and the differences that the two generations have in how they perceive family life.

Body

The financial differences between baby boomers and millennials are quite astounding. A. Most define baby boomers as people born between the years 1946 and 1964. This generation was born into job growth that showed very little signs of slowing down, and they are characterized by being the hardworking generation with family values. But according to author Steven Brill in his book Tailspin: The People and Forces Behind America's Fifty-year Fall - and Those Fighting to Reverse It, baby boomers are the generation responsible for America’s recent economic depression, all at the expense of the generation composed of those born between the years 1982 and 1994, known as the millennial generation.

Due to the ever-changing retirement requirements and the rising costs of living, baby boomers have been forced to retire later than their parents. This creates a workforce where very few millennials can attain a decent paying job without being highly skilled or specialized. As a result of this, many millennials have had to take out student loans to obtain degrees in which they may or may not be able to use, depending on the job market B. During the age of the baby boomer, having a degree was not a prerequisite to living a comfortable, middleclass lifestyle. (transition: Now that we have learned about the educational differences, the differences in finance between baby boomers and millennials are not as surprising. II. The differences in education levels between baby boomers and millennials are not as surprising. A. Millennials are generally more educated than baby boomers, according to an article by Samantha Raphelson, a news intern at National Public Radio. org, but have the most difficult time finding a job that match their education.

In the article written by Samantha titled Amid the Stereotypes, Some Facts About Millennials she writes that four out of ten minimum-wage workers have a bachelor’s degree; that is almost half! In fact, we can find that many “entry level” jobs now require a degree of some sort. B. 28 percent of people age 24-36 have a bachelors or higher, unlike their parents. This has come to affect our economy, because many millennials aren’t in a position financially to make any major purchases, such as buying a home or vehicle. (transition: It is safe to say that even though baby boomers have a more traditional outlook on marriage and family life, the divorce rates at the time of their coming were alarmingly high.

As a result of all of this, many millennials are also putting off family life. The differences between the views of baby boomers and millennials when it comes to family life is not as complicated as it may sound.

1. Because of the alarmingly high divorce rates of their parents, the baby boomers, millennials have a very different outlook on family life. Not only is their pursuit of education and the high costs of living driving them to delay starting a family, but it is also making it hard for them to have a work-life balance.
2. Many people age 24-36 are content with cohabiting with their significant other, but not marrying them or reproducing. Many other couples prefer to reproduce, but not live together.

In a 2016 graph by the Center for disease control, it shows that in Tennessee 43. 6% of children are born out-of-wedlock, compared to 23. 9% in 1950. These couples, ironically, somehow find more time to spend with their offspring than their parents’ had. Despite all of this, three fourths of millennials are estimated to be married by the age of 40, according to author Deborah Carr Ph. D.

Conclusion

Now that we know how and why the two generations are so different in terms of the education, finance, and their outlook on family-life, we can hopefully navigate through life with a more enhanced view on each of these aspects of our own lives II. (clincher) As lawyer and politician Robert Kennedy once said, “Every generation inherits a world it never made; and, as it does so, it automatically becomes the trustee of that world for those who come after. In due course, each generation makes its own accounting to its children. ”