- Bargaineering - http://www.bargaineering.com/articles -

Want to do well financially? Don’t listen to baby boomers

I’m a little annoyed with the baby boomers these days.

While many younger people are having well-documented trouble finding jobs, there seem to be a lot of boomers making good money writing crotchety op-eds [3] about all the ways that millennials fall short. They’re not career oriented enough, they say. They’re too dependent on their parents, they say. They stay single too long, they don’t think enough about the future, and so on.

Then the evidence is trotted out:

Now, I should preface this by saying that many of the people I love and respect the most in this world are boomers, and their generation has made some monumental contributions to American culture. But beyond the irony of the generation that urged everyone to “turn on, tune in and drop out” lecturing younger generations about being insufficiently oriented toward material success, the last place millennials should turn to for advice on anything money-related is the boomer generation.

Let’s run down exactly why that is.

I’m not a believer in making excuses for people, and it’s true that millennials have some work to do establish their careers and a solid financial foundation. But boomers shouldn’t assume today’s young adults are going to do it the same way they did, or that they even want the same things.

In fact, if history is any indication, listening to boomers will probably just leave millenials overextended with two new cars, a house in the ‘burbs and zero savings, spending every spare dollar on cosmetic surgery and vacations to recapture long-lost vestiges of youthful glory, much of which is probably imagined anyway.

So before boomers take to the pages of another publication to criticize millennials for the way they manage their money, their careers and their lives in general, it may be good to take some time to look in the mirror — oh wait, they do plenty of that already — and examine their own choices and the role they’ve played in getting us all where we are today.