From trophy kids to one trick ponies – can youth sports predict the future?

From trophy kids to one trick ponies – can youth sports predict the future?

Posted On June 18, 2013

Social commentary about Gen Xers and Millennials frequently point out the somewhat recent phenomena of “participation trophies” in youth sports – there may be a winner, but everyone takes home a trophy just for showing up.   When those hyper-celebrated kids began entering the workforce they – and their bosses – were in for a rude awakening.  Just showing up simply doesn’t impress. So what might we be able to predict about the next generation in the workforce based on their youth sports tendencies today? The fall-out of the hyper-celebrated child is the hyper-specialized athlete.  If everyone is awesome, how is… Read More

Categories: Parenting

The Natural Consequence of Natural Consequences

Posted On May 9, 2013

So here’s an interesting one – at least from my perspective as a parent and as a speaker on generational topics.  For 15 years I’ve been working with largely Boomer business leaders who are exasperated with the way younger generations behave in the business world.  Time and again, I’ve considered – and occasionally pondered aloud – that the employees who don’t want to pay their dues and expect to be praised for showing up on time were raised with participation trophies and an “as long as you’re happy” mantra by the very people (collectively) who are now their employers and… Read More

Categories: Generations, Parenting, Workplace

Generational Wealth Transfer – Update

Posted On July 27, 2012

At the turn of the century, economists estimated that about $41 trillion in wealth would change hands from one generation to another by the middle of the century. Now, a couple of new studies help clarify which generations will be inheriting how much. For starters, according to a MetLife study, Baby Boomers still stand to inherit quite a bit from their Mature parents.  They estimate that over the next couple of decades Boomers will inherit nearly $12 trillion. According to the study, roughly two-thirds of Boomers will receive inheritances and the median inheritance or transfer will be about $64,000. That… Read More

Categories: Baby Boomers, Matures, Wealth

Millennials Transform Car Buying

Posted On August 9, 2012

We’ve noted here that Millennials have a different attitude towards cars than previous generations and they have a different approach to retail and buying, as well. An analysis by MSN Autos explains how Millennials are changing the way we buy and sell cars. Dealers and sales associates should take note because Millennials will account for 75% of car purchases by 2205. They currently account for almost 40%. Some of the characteristics of Millennials in the market for a car: They don’t like to haggle. They know what they want and what it’s supposed to cost. They do detailed research on… Read More

Categories: Automotive, Blog, Generations

Boomers, Matures Value Legacies Other Than Wealth

Posted On June 7, 2012

A new Allianz survey shows that Baby Boomers think it’s more important for a family to pass on its non-material legacy than to pass on its wealth. 86% of Boomers said it was important for elders to pass on their family’s history and stories to their descendants. 64% place importance on the inheritance of family possessions. But only 9% consider a financial inheritance to be vital. The Matures, the Boomers parents, generally agree with their offspring though they place a relatively higher priority on leaving behind some wealth for their kids. In comparison with the same survey conducted in 2005,… Read More

Categories: Baby Boomers, Blog, Matures

Boomers’ Inheritance Vanishing

Posted On June 15, 2012

Boomers are losing their expected inheritance to their parents’ longevity, according to an analysis in the Wall Street Journal. Matures who have reached their late 60s have as much as a 50-50 chance of living well into their 80s and many into their 90s. Thanks to medical and longevity gains, 85-and-over is the fastest growing age group in the nation. But thanks to that longevity, the Boomers expected inheritance is shrinking as long-lived retirees use their resources to support themselves. It’s long been estimated that over $40 trillion in inheritance would change hands in the first half of this century…. Read More

Categories: Baby Boomers, Matures, Work

Stay-at-Home Millennials Make More

Posted On June 28, 2012

Millennials who stay at home make more than those who leave, according to Penn researcher Greg Kaplan’s study. That’s “stay-at-home” as in continue living with mom and dad, an increasingly common phenomenon among all Millennials. The study examined incomes of Millennials who live with their parents and those who don’t and projects that those who stay at home will face less of a recession earnings gap than those who strike out on their own. In general, Millennials who enter the workforce during the downturn are expected to earn about $100K less in lifetime earnings than those who started in more… Read More

Categories: Uncategorized

Millennials Downsizing their Dreams

Posted On August 18, 2011

Millennials, already prone to delay milestones like careers and marriage, are putting them off even further as pessimism about their economic outlook causes them to downsize their expectations. A recent Los Angeles Times analysis of recent surveys depicts a “Generation Vexed” who, in their words, now plan to “take smaller steps” and who are resigned to the fact that “you can’t reach for the stars right now.” For the first time in three decades, Gallup shows that fewer than half of Americans believe the next generation will have a better life. As a result, according to a Generation Opportunity poll, nearly three… Read More

Categories: Training Industry

No Echo for the Echo Boom

Posted On August 22, 2011

Millennials were first known as the “Echo Boom” because they were an echo of the Baby Boomers. As Boomers reached child-bearing age, their fertility rates (births per woman) were not particularly high, but the sheer size of the Boomer generation ensured that their offspring, the Millennials, would echo the population boom of their parents. Now that Millennials are reaching child-bearing age, fertility rates are shrinking even further. A recent Advertising Age analysis of census data shows that birthrates for women in their 20s declined more in the last two years than any time in the last three decades. In fact, the only… Read More

Categories: Baby Boomers, Training Industry, Women

Boomers Not Sharing the Wealth

Posted On September 9, 2011

Many Baby Boomers, even wealthy ones, have no intention of leaving an inheritance. Instead, they plan to use their fortunes on themselves. A new study by U.S. Trust shows that less than half of wealthy Boomers surveyed plan to leave an inheritance. About the same number have not even told their children what they are worth. This marks a sharp departure from attitudes among previous generations and comes as a shock to the financial planning industry. The results left the president of U.S. Trust sounding a little like a Millennial: “We were, like, ‘wow,’” said Keith Banks. Some Boomers surveyed… Read More

Categories: Baby Boomers, Work