All Articles Tagged "baby boomers"
As a veteran professional, millennial workers, fresh out of college and ready to work, can be a little intimidating. As a millennial, competing with professionals who have 5, 10, 20 years under their belt can be just as intimidating. With the uncertainty of sufficient retirement funds and the rise in unemployed degree-holding young professionals, the workforce is getting more diverse — and more tense — across the generations. Baby boomers versus millennials, millennials versus Generation X’ers… it’s a Battle Royal!
If you are a young professional looking to connect with the veterans in your company effectively, here are a few ways to do so and not get scorched when the torch is being pass down to you.
More than ever, women are confident in their ability to compete against men in the workplace. Women between the ages of 21 and 34, also known as Generation Y, are experiencing more gender equality than older women. However, in trying to reach the perceived caliber of their male counterparts, women have become more stressed, according to a study led by FleishmanHillard and Hearst Magazines.
With a growing “anything boys can do, I can do better” attitude, 70 percent of Gen Y women described themselves as “smart” compared to 54 percent of Gen Y men. However, there is a drawback to the higher self-imposed expectations — the survey found that Gen Y women, compared to Gen X (ages 35 to 49) and baby boomers (50 to 60 years old), are pulling their hair out to reach a certain standard.
“They are describing themselves as smart and knowledgeable, but are also stressed and exhausted,” Stephen Kraus says, senior vice president of Audience Measurement Group. “Around the world young women have promise, potential and pressure, growing up with a cultural narrative that girls can do anything boys can do.”
Over the last five years, women have been ascending in workplace, but there is still a question as to why women are not paid equally as men for the same position. “Though women are more educated but paid less than their spouses, there are signs that a new global generation of Gen Y women are working hard to rectify that inequality,” said Lisa Dimino, senior vice president of FleishmanHillard.
In the study, about half believe that men disapprove of women advancing and possibly “catching up” with them. The female respondents perceived themselves as stronger than men in emotional strength, such as “having difficult conversations” and “rebounding from setbacks,” but they give credit to men in being more successful in negotiating.
The study also shows that women become less focused on personal finances and shift their attention to “longer-term concerns for self, family and business.” American women admitted their number one concern was the future of their children, which was once third on the list of priorities.
This study, titled “Woman, Power, & Money,” polled 1,008 American women between the ages of 25 and 69 with a yearly household income of $25,000 or higher.
As a millennial generation heads into their 20s and 30s, many have had either a great or not-so great example of what it means to manage their money. Although the age of careers, job searches, marriages and first homes are approaching, many millennials still have no clue what it truly means to manage money for their long-term success and comfort. Even parents are sometimes shaky resources for personal finance information.
A 2012 U.S. News Money article finds that Generation Xers (who are now in their 30s and 40s) are the generation with the most financial frustration. Retirees are increasingly responsible for their own savings, income, and financial futures. Let’s face it, we all can use an old-fashioned money management lesson every now and again.
Let’s all learn a little bit from past generations, and keep your money flowing with these old school money management tips.
According to Bloomberg News, the overall divorce rate in the U.S. has declined over the past 20 years, but there seems to be an increase of divorcees who are aged 50 and over. And you won’t believe who’s to blame – Facebook.
Aside from the normal variety of causes, such as empty nests and midlife crises, baby boomers are now dealing with an altered technological landscape that allows them to reconnect with a long-lost love, leading to “accidental affairs”. More than 80 percent of divorce attorneys recently surveyed by the American Academy of Matrimonial Lawyers said that in the past few years they have witnessed “an increase in the number of divorce cases using social networking evidence.”
Do you think social networking sites are bad for spouses?
(USA Today) — Robert Johnson became one of the most important members of the Baby Boom generation by being in the right place at the right time — and having a plan. As a lobbyist for the cable television industry in 1979, he saw an opportunity to create the first cable channel that targeted African-American viewers: Black Entertainment Television. Critics, including director Spike Lee, attacked BET’s broadcasts of music videos that seemed to glamorize violence and degrade women. But with the cable industry booming, BET in 1991 became the first black-controlled company to go public on the New York Stock Exchange. When Viacom bought BET for $3 billion in 2003, Johnson became the first African-American billionaire.
Johnson went on to build The RLJ Companies, a financial services empire. He also invested in enterprises such as the Charlotte Bobcats basketball team, and became a supporter of Hillary Rodham Clinton in her 2008 presidential campaign. It’s been an unusual ride for the Hickory, Miss., native who began his career in public relations after earning a master’s from Princeton University’s Woodrow Wilson School of Public and International Affairs. Here are his thoughts on his generation and career, edited for space and clarity:
(LATimes.com) — The saddest lesson of recent years for the American middle class is that those who “do the right thing” are first in line to get hammered.
You devote a lifetime to a single employer, only to get laid off with a cheese-paring severance package. You finance your own retirement by religiously funding your 401(k), and Wall Street lays an egg on your head.
Here’s a lesson baby boomers are just beginning to learn: You pay for long-term-care insurance for years, even decades, and then your insurance company changes the rules.
Consider the experience of Marvin and Joan Klotz of Los Angeles, retired employees of the state university system, who purchased a long-term-care policy for Joan from CalPERS in 1997, when she was 61.