Let’s look at the differences in the generations.

Baby Boomers:

This group tended to be extremely loyal and more of a team player when it came to their work environments.  They were less adaptable to change and most would agree, are even now, not as tech-savvy as the newer generations.

Generation X:

This group tends to be overly self-confident and quite demanding when wanting to have their opinions heard.

Generation X are now finding themselves in more debt than ever before.  As a whole, they have less access to company pensions even though they want to retire at an earlier age; have ongoing education expenses for themselves and their children; have increased costs for the basics like food and housing; and now may have the burden of the anticipated care for their parents.

Generation Y:

This group is even more independent, confident and tend to be more obsessed with social media.

Both these new generations ( X & Y) have something in common.  They both have felt the impact of a two-working parent family, the rise in divorce, and they have had much less stability with their employment opportunities.  Expanded digital technology provides knowledge, transparency and clarity for these new generations who are more confident, optimistic and smarter than any generation before them.  They will need to get into the habit of budgeting more, saving more, and most of all planning for their future.  That being said, they are not afraid to get uncomfortable and to try new things which is an amazing advantage over past generations who would shy away from getting out of their comfort zone.