“Young Americans today have accumulated less wealth than their parents did at their age. One in four student loan borrowers is delinquent on their loans. And of course most of them can’t even think about beginning to save for retirement. So really this economy is not working for this generation.”
Sarah Ayers says the slow start for millennials also hurts society.
“When you have people who are not moving out of their parents’ home, obviously they are not signing up for cable [TV] packages, or buying new furniture and appliances. When you also have young people who are struggling to pay their student loans as many are, that’s money that they’re not putting into the economy elsewhere.”
30 Is Not the New 20
Psychologist Meg Jay is also worried about the long-term impact of the easygoing lifestyles of many millennials. She gave a TED Talk called “Why 30 Is Not the New 20.”
In it, she says taking time to explore during your 20s is fine, but explore with a purpose. She advises millennials not to wait until 30 to try to start a career, choose a partner, have a family and become financially independent all at once.
She says she worries that 10 or 15 years from now, some millennials will find themselves in a midlife crisis.
“It’s realizing you can’t have that career you now want. It’s realizing you can’t have that child you now want, or you can’t give your child a sibling. Too many 30-somethings and 40-somethings look at themselves and at me, sitting across the room, and say about their 20s, ‘What was I doing?’ What was I thinking?’”
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25