Do You Think Millenials Stand a Chance in the Real World?

The New York Times just ran an article about Millenials in the real world. Like any good Millenial, I love reading about myself. This article, however, just pissed me off.

In a nutshell, it’s a recap of the financial woes of Millenials, and a diagnosis that twenty-somethings will just never catch up from the recession and never build real wealth.

The article is essentially condemning this generation to a lifetime without prosperity.

And I just don’t think that’s true.

Adjectives to describe our generation (and I disagree with 80% of them)

Adjectives to describe our generation (and I disagree with 80% of them)

Sure, we Millenials “have it rough.” We got hit with a double-whammy during the recession (if entering an unforgiving job market after graduation wasn’t enough, we also witnessed our parents struggle with unemployment and pay cuts).

Yes, we have emotional and financial scars. The majority of us are likely underpaid and/or underemployed and it means we have a lot of financial catching up to do in our thirties.

And yes, we have tons of student loans.

But we Millenials are more than just our economic circumstances. We Millenials (modestly speaking) are one of the most creative, entrepreneurial, flexible and intelligent generations. Technology has given us boundless opportunities and with that, unlimited potential.

I can feel this potential in every moment of my life. I can see that potential in my friends, regardless of their employment. And I can see it in the future of an entire generation, regardless of a slow economics recovery around us.

But the question remains: is that enough?

Will gumption and savvy move us beyond the financial misfortune that has marked Millenials? Will we end up living wealthy lives – as wealthy, if not more than our parents? And when?

What Do You Think – Do Millenials Stand a Chance?

So I know what I think… what do you?

Take a second and fill out the poll below (even if you aren’t a Millenial). And leave a comment if you are a Millenial and you have a strong opinion about your future 🙂

[yop_poll id=”1″]

Can’t see the poll? Click here to view the original post.

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2 thoughts on “Do You Think Millenials Stand a Chance in the Real World?

  1. Jeremy Shapiro

    A good column telling the story of her journey. Those of you who are interested in the psychological level of the spending/saving issue might want to check out my regular column on The Psychology of Money and Happiness. The column is about this: No matter how shrewd we are about money management, serious efforts to restore financial health usually require us to reduce our consuming, and rather than being miserable about that, we can use psychological strategies to get more happiness from less stuff. Check it out!

    Dr. GoodCents

  2. Ryan Steinbach (@R_Steinbach)

    We millennials are absolutely going to make it! But I also believe that millennials are redefining what it means to have ‘made it’. I think for many millennials succeeding in life is more than about just making money. It’s also about the values we believe in, the issues we fight for, and the relationships we build. As we redefine success, millennials will live more holistic and happy lives.

    Maybe we won’t ever make what our parents do, but I don’t think that bothers many millennials. We are already building a system where owning less is more (think sharing economy). ultimately I believe an economy run by individuals with a more holistic, long-term outlook will rebound and avoid another major dip like we saw in 2008.


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