Topic: Baby Boomer Stability | |
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Edited by
Tom4Uhere
on
Thu 08/06/20 08:50 AM
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I read this morning...
Younger generations more negatively impacted by pandemic than older generations
John Murphy, AccuWeather staff writer Millennials and Gen Z are twice as likely than their parents to have upended financial security due to the coronavirus pandemic. A new report from Age Wave and Edward Jones found that younger Americans are more financially impacted and have had their financial stability negatively impacted, or even wrecked at rates twice as high as baby boomers. The survey asked 9,000 Americans across five generations in May and June about how the coronavirus has impacted the individual. One-third of millennials and Gen Z respondents said COVID-19 had extreme or very negative impacts on their financial security, according to CNBC. Only 16% of baby boomers and 6% of the silent generation responded the same way. Younger generations also reported a mental health decline more severe than past generations reported. It was also found that 37% of Gen Z and 27% of millennials have had their mental health negatively impacted since the pandemic began, while only 15% of baby boomers reporting the same. Most NEWS is unreliable these days. Mingle2 Forums has a fairly diverse generational population. Do you feel its true the Baby Boomers are more stable? Is it true Gen Z and Millennials are being harder hit? Are having mental issues? |
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If you were to rate the pandemic's negative impact on you personally on a scale of 0-5 with 5 being extremely negative impact and 0 being no change at all, what would you rate it so far?
I'm nearly 60 yrs old I rate the impact to me at a 1.5 |
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Boomers are more likely to be retired, or well established and toward the end of their careers. They have their finances pretty well fixed. Millennial's, Z's and others are mostly at the beginning or middle of their respective careers and have the usual expenses of kids, homes, and what-not. So they are more likely to be hit harder by economic downturns.
I work in health care so the virus is basically keeping me gainfully employed. |
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To be honest, after the initial concern that this might be 'the big one' in pandemic terms and after years of being told that bird flu etc was going to ravage the population, it's had very little impact on me. I'd like to be able to visit more places but I can't, so for that .5 rising to a 1 on occasions.
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I read this morning... Younger generations more negatively impacted by pandemic than older generations
John Murphy, AccuWeather staff writer Millennials and Gen Z are twice as likely than their parents to have upended financial security due to the coronavirus pandemic. A new report from Age Wave and Edward Jones found that younger Americans are more financially impacted and have had their financial stability negatively impacted, or even wrecked at rates twice as high as baby boomers. The survey asked 9,000 Americans across five generations in May and June about how the coronavirus has impacted the individual. One-third of millennials and Gen Z respondents said COVID-19 had extreme or very negative impacts on their financial security, according to CNBC. Only 16% of baby boomers and 6% of the silent generation responded the same way. Younger generations also reported a mental health decline more severe than past generations reported. It was also found that 37% of Gen Z and 27% of millennials have had their mental health negatively impacted since the pandemic began, while only 15% of baby boomers reporting the same. Most NEWS is unreliable these days. Mingle2 Forums has a fairly diverse generational population. Do you feel its true the Baby Boomers are more stable? Is it true Gen Z and Millennials are being harder hit? Are having mental issues? Personally, I couldn't care less about who is upending their financial security. Now, as far as the stats go and mental health, I'd like to know why in ADDITION to the numbers. The numbers don't tell me anything. And... they sampled 9,000 individuals out of 5 generations. I don't know if 1800 individuals for each generation is sufficient. From where were these individuals. What socioeconomic level, what type of community. Are resources limited? For example, who can and can't access mental health treatment. Is there a waiting list? What specialty do their providers practice? I question all of this because the percentages indicating the decline in mental health are extremely low. Only 37%?? I'm not buying it. In order for me to get a better understanding of what this means, I would need to see the article written by the one(s) who did the study. These articles are not published in common printed form or the Internet. I'm referring to journal articles that address methodology, findings, implications, correlations, charts, conclusion, etc... And lastly, baby boomers being more stable in which ways? Again, only 1800 of baby boomers in this entire country were sampled. I will say though that that is a large sample, but I don't think it's adequate studying a pandemic. |
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I read this morning... Younger generations more negatively impacted by pandemic than older generations
John Murphy, AccuWeather staff writer Millennials and Gen Z are twice as likely than their parents to have upended financial security due to the coronavirus pandemic. A new report from Age Wave and Edward Jones found that younger Americans are more financially impacted and have had their financial stability negatively impacted, or even wrecked at rates twice as high as baby boomers. The survey asked 9,000 Americans across five generations in May and June about how the coronavirus has impacted the individual. One-third of millennials and Gen Z respondents said COVID-19 had extreme or very negative impacts on their financial security, according to CNBC. Only 16% of baby boomers and 6% of the silent generation responded the same way. Younger generations also reported a mental health decline more severe than past generations reported. It was also found that 37% of Gen Z and 27% of millennials have had their mental health negatively impacted since the pandemic began, while only 15% of baby boomers reporting the same. Most NEWS is unreliable these days. Mingle2 Forums has a fairly diverse generational population. Do you feel its true the Baby Boomers are more stable? Is it true Gen Z and Millennials are being harder hit? Are having mental issues? Personally, I couldn't care less about who is upending their financial security. Now, as far as the stats go and mental health, I'd like to know why in ADDITION to the numbers. The numbers don't tell me anything. And... they sampled 9,000 individuals out of 5 generations. I don't know if 1800 individuals for each generation is sufficient. From where were these individuals. What socioeconomic level, what type of community. Are resources limited? For example, who can and can't access mental health treatment. Is there a waiting list? What specialty do their providers practice? I question all of this because the percentages indicating the decline in mental health are extremely low. Only 37%?? I'm not buying it. In order for me to get a better understanding of what this means, I would need to see the article written by the one(s) who did the study. These articles are not published in common printed form or the Internet. I'm referring to journal articles that address methodology, findings, implications, correlations, charts, conclusion, etc... And lastly, baby boomers being more stable in which ways? Again, only 1800 of baby boomers in this entire country were sampled. I will say though that that is a large sample, but I don't think it's adequate studying a pandemic. I agree Seems pretty fishy to me. I decided to ask these forums because M2 is worldwide and diverse in forum participants. The question is to the individuals from all walks of life just to see if there is a pattern which saturates this community. The subject matter is the intent of the snippet I quoted. The answers are individual as they pertain to us (in the forum). This thread is not intended to be a scientific study, merely an assessment of current feelings of ease or distress the members of this forum are feeling related to a world-wide pandemic. This is pertinent to the outcome of dating and building relationship in this day and age. It might provide some enlightenment to why some members are having a difficult time finding a good connection with others. For people who are normally active and working, these restrictions do affect individual lives. "Pandemic Stress" is a real thing many people are dealing with right now. First-Worlders are subjected to constant media overload frenzy. Its hard to tell where the hype ends and the actual facts begin for most people. This is a chance to get a real-world view of personal impacts on the people who participate. This thread asks if there is validity to the quoted article snippet. This is a discussion forum, it is a topic for discussion. There's no specific data being collected except for how we feel. |
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Tom's rating: 0
No change for me I'm retired. I planned on retiring at 60 and I did, my money is made, it's safe and doing just what I want. |
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Tom's rating: 0 No change for me I'm retired. I planned on retiring at 60 and I did, my money is made, it's safe and doing just what I want. Same for me. I retired aged 55 and Iām financially stable and have no debts |
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Little impact here for this Boomer.
BUT who does everyone move in with when times get bad? The Boomers with paid-off houses. Picked up 2 family members myself. Happy to help ;-) |
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Edited by
Tom4Uhere
on
Thu 08/06/20 11:43 AM
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The "1.5" I rated myself is because there has been some inconvenience finding products I like and going to eat-in restaurants.
Financially there has been little change and I actually got a boost with the stimulus check. Being disabled for almost 10 full years now, social distancing is normal life for me. I'm used to it. In 2019, I put about 5,000 miles on my truck. Last time I topped of the gas tank was 1st of August and it only took 10 gallons and it was April when I topped it off last time (truck gets about 8 mpg now). The pandemic has had a small negative impact on me and I personally doubt there are many who are zero impacted. I imagine people with children in school are dealing with a bit more negative impact than older people and people without children. Being single is more stressful during this pandemic than being a couple. As a society, we are accustomed to strength in unity. The pandemic makes that nearly impossible. It sets an anti-social trend which is the opposite of what a society is supposed to be. My mental state has changed very little from the pandemic restrictions. I already experienced isolation depression 8-10 years ago. I do not suffer from "Pandemic Stress". But...I know others do. It allows me to interact with empathy toward others. It explains why others have little patience and express wide mood swings. For some, this pandemic forces people to change their entire way of life and that is scary. Its why we hear people constantly saying they wish things would just get back to normal but normal may never return. People sense this and it scares them even more. I lost nearly everything. My health, my job, my marriage, my home, my wealth, my possessions and,for a little while, my sanity. I can identify with what people are feeling. So no, not a zero. |
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Generation Snowflake should be able to learn
valuable lessons from any genuine hardships. As every generation before them has. |
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Generation Snowflake should be able to learn valuable lessons from any genuine hardships. As every generation before them has. |
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Generation Snowflake
Too True! |
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impact for this late boomer... 1.5 maybe 2
i'm essential services and we have slowed down one bit, so money wise, no change. some shopping issues but mostly not bad mostly it's the being able to go do things and even that is doable with a bit of planning |
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Same as eric, about 1.5. I too am an essential worker so finances weren't affected. If anything, they increased because the gas station was often short staffed and I got a bunch of overtime, along with a raise shortly after the lockdown.
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Almost no impact on my life
Minor annoyances.... stores I shop at changed opening times, wearing a mask, wash my hands more.... roll with it and adapt to the new normal |
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Pandemic? What pandemic???
I seriously do believe it's probably true Gen Z and Millennials are being hit harder mentally and financially. I think the reason is because many of their parents never let them struggle/fail, never let them solve their own problems as kids and provided them with a "safe space" rather than the tools to deal with problems as REAL adults. These ill equipped people don't know how to deal with the bully in the form of a virus mentally. financially or responsibly IMO. Maybe these people who's age chronologically makes them adults can sell all their "participation trophies" to raise money. Oh wait, not having those "participation trophies" might further hurt their mental stability. |
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Almost no impact on my life Minor annoyances.... stores I shop at changed opening times, wearing a mask, wash my hands more.... roll with it and adapt to the new normal I agree, the same for me. I am more of a loner than a people person. I enjoy being by myself sometimes so the social distancing is not a setback for me. Wearing a mask is a bummer because sometimes it fogs up my sunglasses. I eat out quite a bit so it took a while for me to get comfortable not going to a restaurant for a while. On a 1 to 5 scale I would say the impact is less than 1. |
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"A crown of beauty are grey hairs, In the way of righteousness it is found."
In other words.... idiots die young. People get wiser as they get older -or they don't. Older generations have likely learned how to be more stable. |
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