Page 3 - November Newsletter

Whats your Money Generation?

Women saved beautiful things for later, in ‘hope chests’. Men worked hard to rebuild their lives, then often
stayed in their jobs for 40 years, fiercely loyal.
This upheaval and financial insecurity meant many people worldwide had fewer children. Then, as
prosperity grew, they felt more confident and started having bigger families, the ‘baby boom’. They bought
their own homes, paid off their mortgages, and tended to invest conservatively, to protect their wealth.

BABY BOOMERS
Born: 1946-1965 - Now aged roughly 54 to 72

Baby Boomers were part of the biggest social change the world has seen. They were born to traditional
parents while the world was recovering from the Second World War and entering an economic boom. Birth
rates rocketed.
The Pill and paid childcare meant pregnancy didn’t have to limit women, and exciting new industries sprang

up. This generation became defined by hard work and success in the workplace.
Baby Boomers lived through the Korean War and the Vietnam War – and protested about it. Music was
defined first by Elvis, then the Beatles and the Rolling Stones.
The first Baby Boomers started retiring a decade ago, and the others are nearing 65, so saving is a priority.
However, many failed to start saving for retirement early enough, so they’re in a sprint to catch up. Some
saw how the Global Financial Crisis hit investments and fled the share market, investing in property
instead.

GENERATION X
Born: 1965-1981 - Now aged roughly 38 to 54

Gen X-ers were largely the children of comfortable couples with a double income. But they were the first
generation to feel the pain of increasing divorce rates – many went on to have partners they didn’t
marry. Many are master consumers, loving luxury, and aspiring to keep up with the Joneses.
They grew up through punk music, grunge, hip-hop, skater culture, Friends, and MTV, and were the first
generation to discover computer games.
Gen X is also known as ‘the sandwich generation’. Many are caring for kids while also supporting ageing
parents. Afraid there’ll be no NZ Super when they retire, many plan to keep working after retirement.
More tech-savvy than their parents, they tend to be more open to risk, investing for growth, despite living
through the dot-com crash of 2009.

MILLENNIALS
Born: 1981-1995 - Now aged roughly 24 to 38

The Millennials are probably the most studied of all generations, because they’ll make up half the workforce
by 2020. Seen as entitled and opinionated, Millennials often need affirmation, but have a drive for
challenges, and reaching goals. They’ve never known a time when they weren’t plugged into technology
and social media, so they expect immediacy. They’re more socially aware than either their parents or..
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P A P & K U R A
A
Life Property

is happily brought to you by

Chris Grantham 0274 960 959 c.grantham@barfoot.co.nz
Karen McGehan 027 296 1449 k.mcgehan@barfoot.co.nz