Supporting Generation Y: Parents Postpone Retirement

Just Can't Cut The Cord

It seems those oh so talented darlings that make up that glorious Me Generation have a hard time earning a pound.  Or perhaps they just don’t see the need to even try.

A recent survey conducted in the UK found that many parents who have children in the 18 to 30 age range are either postponing retirement or giving up the idea of retiring at all due to the financial needs of their adult offspring.  Close to 80% of the parents surveyed stated that their ability to save for their retirement had been negatively effected by the unplanned financial needs of their adult children.

What is so sad and sorry-making is that the advise proffered in this UK Telegraph article to parents with underage kiddies is simply to invest more money in a child trust fund thus possibly avoiding the fate of the Child Chain Gang Generation.  No one seems to be asking the tough questions here.  And this survey confirms the results of the University of San Diego research study conducted here in the US which found that many prospective employers wrote off Generation Y as fickle, self-centered, and greedy.

Attempting to hand off the baton of financial and economic responsibility to a younger generation of workers who refuse to accept it, doesn’t bode well for the future prosperity and security of the American and British nations.

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