asqmiddletn.bondwaresite.com

On Generations - And Bridging the Gap

May 29, 2008 at 10:14 pm by admin


 

                                    GENERATIONAL DESCRIPTIONS

Traditional are people born 1925-1945. They are the healthiest, wealthiest retired generation ever. All signs indicate that they will have very different types of retirements from their WWII generation predecessors. Many continue to work part-time or even full-time. They are staying active in their communities instead of retiring to warmer climates (although they are doing that as well, so take advantage of them if you are located in the U.S. Southeast or Southwest). Also, they are the only generation that will really feel the benefits from pensions, Individual Retirement Accounts, and Social Security.

Boomers are people born 1946-1964. They are blooming across life stages. On the younger side, they're in the throes of kids, education costs, careers and commuting. At the upper end, they're empty-nesting, grand parenting and reinventing retirement. As pensions evaporate, Social Security falters and real estate (their investment of choice) flattens, 2007 could be a wakeup call for the “Me” Generation's financial future; trading up could mean staying put. As ever, they'll scrimp and splurge to share the good life with loved ones, from kids to pets to aging parents. Favorite indulgences are food, travel, creature comforts, tech toys, fun fitness, hobbies and a well-feathered nest for entertaining. With life expectancy growing, Boomers' focus is on health and hipness quotients to fight "old" aging and keep them in the game.

Generation X are people born between 1965 and 1979, depending on the source. Gen X are independent, enjoy informality, are entrepreneurial, and seek emotional maturity. They want to build a repertoire of skills and experiences they can take with them if they need to, and they want their career path laid out in front of them – or they’ll walk. Gen X also seeks balance in their lives now – not when they retire. They seek time to raise their children and don’t want to miss a minute as their parents did. Gen X also wants immediate and honest feedback

Generation Y are people born between 1980 and 1994 included, they make up over 20% of today’s population. The largest generation since the baby-boomers, the Generation y are defined by their numbers. They will have a huge social and economic impact. There are three major characteristics of the Millennial group: 1) They are racially and ethnically diverse, 2) They are extremely independent because of divorce, day care, single parents, latchkey parenting, and the technological revolution that they are growing up alongside, and 3) They feel empowered; thanks to overindulgent parents, they have a sense of security and are optimistic about the future. The oldest members of generation Y are now entering the workforce. At the same time, the Baby Boom generation is retiring at a much older age than those of previous generations. This will bring intergenerational conflicts, as well as uncertainty about what the future of America’s workforce will be.

From a young age, Generation Y is told, through both the media and home, that they can have it all. This generation has a strong sense of entitlement. Striving for a quality of life only known by the rich and famous, wanting the best and thinking they deserve it, makes Generation Y driven and ambitious, with high expectations. Unlike Generation X that came before them, these children are not left to make key decisions on their own; the parents of Generation Y are very hands-on. Parents are involved in the daily lives and decisions of Gen Y. Their parents helped them plan their achievements, took part in their activities, and showed strong beliefs in their child’s worth. Today, over half of families with children eat dinner together seven days a week. The secure feeling attained by strong parental involvement makes the members of the Y Generation believe they can accomplish most anything, and if they don’t, they can always go back home and get help and support.

Growing up in the age of technology has put a computer in the hands of almost every child. They have understanding and knowledge of technology and keep up quite well with its advances. Three out of four teenagers are on-line, and 93% of those ages 15-17 are computer users. The majority of time spent on the Internet is for entertainment purposes. Emailing, instant messaging and gaming is done by the majority of children eight and older who are on-line.


ENGAGEMENT & OUTREACH TIPS BY GENERATION

*ENGAGEMENT IDEAS

Generation Y (approximate age 0-28)

Gen X (approximately age 28-43)

Boomers (approximate ages 44-62)

Traditional (approximate 62-83)

*OUTREACH IDEAS

Generation Y (approximate age 0-28)

Gen X (approximately age 28-43)

Boomers (approximate ages 44-62)

Traditional (approximate 62-83)


Sections: News