Generations Lost (Part 2)
The second part of the series explores why Millennials and Generation Z have become lost generations.
Part two of the Generations Lost series explores potential reasons why Millennials and Generation Z have become directionless generations. You can read part one below.
These are three more reasons why the younger generations have become lost generations.
Told Dreams Are Fantasies While Not Taught About Goals
Younger people were raised on dreams without being taught the critical difference between dreams and goals. They were told that it was alright to have dreams but not to count them becoming a reality because they were fantasies. While this could be true of some more ridiculous dreams, like doing something you have no strengths or skills to do. This is harmful because the younger generations were never taught why goals are important.
Dreams are merely abstract thoughts that you may have about something that you think sounds nice. They could also be something you would like to have or do, but you don’t take the necessary steps to achieve them. An example could be dreaming of one day buying a beachfront house. But you never do anything actual steps to make it a reality. You like the idea. You like how it sounds. You like looking at pictures online of beachfront properties in places where you would like to live.
In contrast, goals have steps for planning to achieve a goal. You can have short, medium, and long-term goals. You could work on all three simultaneously, and some could snowball off of each other. Using the beachfront property example, the prices will vary depending on what state or country you are looking at. Let’s use the United States as an example. A house on a beachfront property costs between $300k to $100 million in Naples, Florida. Since that is what you would like to buy eventually, you must set a goal to come up with the amount of money to buy the type of house in that price range that you want. You could set a goal to be able to buy a $500k beachfront home.
You would need to figure out what job you need to buy the house you want to purchase that has beachfront property. You would then need to save enough money each month to reach your goal. You could also put your money into certain types of investments to grow your money faster. Goals take time to achieve. You are actively working to make the goals you want to accomplish a reality compared to sitting still with dreams.
The first example was a dream. It was vague. In the second example, steps were actively taken to make the goal of buying a beachfront property a reality.
Encouraged To Have Fun
Another reason was that the younger generations were primarily encouraged to have fun rather than to be serious. Instead of playing outside, they mostly stayed inside. Rather than learn critical life skills at a young age that could help them later in life, they focused on having fun. This indirectly trained the younger generations to have fun and get immediate satisfaction above everything else.
The Internet and social media made access to fun and immediate satisfaction more accessible. You could now watch a movie, stream a video, or look at pictures of your friends or a celebrity online. You can look at an app on your phone or browse the Internet on your favorite device. You could imagine being in that picture or video there rather than working hard so you can visit somewhere in real life. The younger generations prioritize short-term social media high and having fun over reaching long-term goals.
They did not use their younger years to learn about themselves. They were happy to go along being told what to do. Trust the process that society has in place rather than think for themselves. They never learned to think for themselves or learn about discovering their strengths and skills that could help them later in life, so they just went along with the crowd. The crowd most often is wrong. In this case, popular culture and their friends wanted to have fun right now rather than plan for the future.
This indirectly taught them to think short-term rather than long-term. Short-term thinking often does not focus on the consequences or benefits of your choices and actions, which long-term thinking does.
Not Taught How To Think Long-Term
The younger generations were not taught to think long-term. This affects how they manage finances and think about their future. They become more focused on immediate comforts rather than being able to put up with living how they may not want to until they can afford to live the lifestyle they want. It also applies to health and relationships.
Money
This indirectly influences personal finance because they were not taught the basics of money management and how critical long-term thinking is to growing money. This also means they have no problem putting everything on a credit card or living above their means. Rather than follow basic financial principles that people have had to live by for generations, the younger generations have adopted mainly new concepts that are merely old, rehashed ideas being remarked to the new generations. One of these ideas which have caught on some is Modern Monetary Theory (MMT).
Rather than work to find ways to improve their financial situation or overall quality of life, they would instead enjoy believing in a nice story like Modern Monetary Theory. MMT means that there could later be Universal Basic Income (UBI) so that people in certain income classes would no longer need to work. Or, if automation and robots replace workers in specific jobs is often another argument for MMT and UBI.
The problem is that it reduces money to the idea that it can be printed or entered onto a computer screen by a Central Bank to create the currency magically. The printed money is then given to people. Money is energy. You trade your energy, work, and knowledge or skills for money. There are also historically specific requirements that differentiate money from currency. Technically, the dollar is a currency, not money.
Money is a store of energy and value. Money is a claim upon your time, energy, productivity, and value in the marketplace. Money is a form of stored energy or life. Sound money has been defined as having the following characteristics: durable, consistent, convenient, and scarce.
Currency is a medium of exchange, a unit of account, portable, durable, divisible, and fungible. Money is a medium of exchange, a unit of account, portable, durable, divisible, fungible, and a store of value.
Secure Single’s Algorithm recommends:
Health
Rather than focus on exercise and following a consistent diet that requires self-discipline to achieve a goal, it is simpler to take a prescription weight-loss drug or have a weight-loss surgery to remove excess body fat. The short-term view says that taking the prescription medication or surgery is just as good, if not better. The outcome is still the same. The goal can be achieved at a shorter length than going to the gym a few days a week to lose weight.
The problem is that side effects from prescription medications, and surgeries can go wrong or lead to long-term consequences later, depending on the type of surgery. The traditional option of diet and exercise may take longer, but it is a natural solution to resolve a health issue.
Relationships
Social media has reduced relationships with people to a small profile picture on a screen. Instead of wanting to cultivate close friendships with people, it has become about acquiring as many “friends” and “followers” as to build a presence on social media platforms. For a business, this makes sense to do. For the ordinary person, this can become a way to spend time online with people you will never meet.
That time could be better spent making friends where you live. You could work to create a community around your interests in your town or city. You could make a point to talk to people in real life rather than just online.
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Solutions
Start to set short-term and medium-term, and long-term goals for yourself.
Start to be more serious and give up the phrase “adulting” that was popular with Millennials.
Begin to think long-term about your future.
Work to improve your life, from your relationships to your finances.
Learn about your strengths, skills, and what you are passionate about. Then find a way to make money from those three things.
We've all been lost for most of this life
(Lost for most of this life)
Everywhere we turn more hatred surrounds us
And I know that most of us just ain't right
(Most of us just ain't right)
Following the wrong steps, being led by pride
Become a secure single.
Thank you for sharing.
How have the younger generations become lost? Is this just a problem with these generations or does every generation have this problem?
Views expressed in this article are the author's opinions and do not necessarily reflect the views of Secure Single. It is intended for informational and educational purposes only. It is not investment, financial, or legal advice. Consult with a financial or legal professional before making investment or legal decisions. James Bollen is the author of Thriving Solo: How to Flourish and Live Your Perfect Life (Without A Soulmate). It is now available in paperback and for the Kindle on Amazon.
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