Wednesday, September 28, 2016

Changed aspirations......interesting!

Research shows that the millennial generation - who're now 30 to 35 yrs old -  rarely buy houses and even more rarely, cars! The traditional measure of success - owning an apartment and/or a car - is out of date. The current generation of young people differs from their parents' generation and they have other values.

The concept of ownership is no longer relevant as the youngsters of today change their jobs very often. The point is that people now don't want prosperity and stability; all they want is flexible schedules coupled with financial and geographical independence. They've no interest in material things. It would get clearer if one were to understand their thought process:-

   (a) Why own a car if you can take a car?
           (i) It's almost a personal car with a driver.
          (ii) It's not more expensive than having your own car.
         (iii) Buying things makes you worry and the more expensive, makes you worry about their
         (iv) A car can be scratched or suffer a breakdown!

   (b) Why buy a house in a beautiful place and go there only for vacation?
           (i) You don't have to buy a property in a country you love.
          (ii) You can take on a mortgage for forty years or accept the fact that you can spend your whole
                 life in a rented place.
         (iii) You'll probably change your job in the next few years and if you rent, nothing prevents you
                 from moving closer to the office.
         (iv) You can be robbed.
          (v) People seem to have lost interest in material things.

And the most important among all, every purchase will go down in price over time. Moreover, people don't like hearing about your possessions but they do like hearing about your experiences. Social interaction is crucial towards making you feel happy or otherwise. Happiness and a sense of well being - spending money on new experiences is much more profitable than buying new things. They bring more joy and help in making friends!

Experience is the only thing that matters. It won't go down in value and no one can steal it! And always remember, even a bad experience can become a good story!!

The youth, today, has reconsidered the concept of success which now means, 'Successful people don't buy property, they rent'. In fact, in the USA, this generation is known as the 'generation of renters'.


Did our parents and to a great extent we, get it right then? Well, we'd followed the existing trends that were relevant to the times because:-

    (a) We weren't able to travel as often as people do now.
    (b) The concept of fun was different.
    (c) There weren't many opportunities to start a new business.
    (d) Therefore, our parents and we invested in houses and cars! Nothing wrong with that!!

Note. Courtesy, a message that I'd received a few days ago, on What'sApp!

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