Disability Insurance and Income Protection: A Multigenerational View
Have you noticed that defining the characteristics of the Millennial Generation seems to be a cottage industry? It seems like some type of demographic obsession. For instance, here is an anecdotal, non-scientific question you can ask a “suspected” Millennial: Have you ever seen a movie made prior to the 1980s (besides Star Wars). If the answer is no, BOOM, you know this person is a Millennial.
Thus the “old” movie reference “Who Are Those Guys” in the title line of this piece. It would be interesting to see how many from the Millennial Generation have seen this classic, humorous Western from 1969. It seemed fitting to use this line. Can any of you from the Millennial Generation identify the movie?
A Millennial and Stereotypes of the Millennial Generation Stereotypes
The movie stereotype created above adds to the misconception of the variety and diversity of the Millennial Generation.
And some Millennials are sick and tired of these stereotypes heaped upon them including Will.
“Hi there, my name is Will and I’m a feckless cosmopolitan millennial.”
- I work for a venture-backed start-up.
- I have challenges like the irritation my hover board causes fellow commuters.
- I have challenges like keeping my man bun in place.
- Sometimes, I stare at my reflection captured on Snapchat.
- I think about how I’m going to integrate a handlebar moustache and a sleeve tattoo into my aesthetic.
- I express my thoughts using GIFs.
- I wonder if I should start a podcast about my favorite podcasts.
“I’m so tired of stereotypes. I’m obviously nothing like the paragraphs above and neither is any one I know my age. I’m so bored of hearing the word millennial, regardless of the context.”
Let’s Help Will and Provide a Deeper Study of the Millennial Generation
GENERALLY Speaking
The term Millennials covers a loose generational category of those born between 1980 and 1998. This is likely too broad a description (Will would likely agree). Millennials are not a static, monolithic group.
Social and Demographic Trends of the Millennial Generation
A Pew Research Center Study reveals a diverse, complex generation when it comes to social and demographic trends.
Marriage
- 26 percent of the Millennial Generation is married (When they were the age that Millennials are now, 36 percent of Generation X, 48 percent of Baby Boomers, and 65 percent of the members of the Silent Generation were married.)
- Most unmarried Millennials (69 percent) say they would like to marry, but many lack what they deem to be necessary—a solid economic foundation.
Racial Diversity
- Some 43 percent of Millennial adults are non-white, the highest share of any generation.
- About half of newborns in America today are non-white, and the Census Bureau projects that the full U.S. population will be majority non-white sometime around 2043.
Social Trust Low; Country’s Future Upbeat
- When asked, “Generally speaking, would you say that most people can be trusted or that you can’t be too careful in dealing with people?” just 19 percent of Millennials say most people can be trusted,
- 49 percent of Millennials say the country’s best years are ahead.
Highly Educated
- A third of older Millennials have a four-year college degree or more—making them the best-educated group of young adults in American history.
- Two-thirds of recent bachelor’s degree recipients have outstanding student loans, with an average debt of about $27,000.
Economic Optimism
- More than eight-in-ten say they currently have enough money to lead the lives they want (32 percent).
- Others believe they expect to have enough money in the future (53 percent).
Millennials are Independents; Vote Democratic
- 31 percent say there is a great deal of difference between the Republican and Democratic parties.
- Even so, this generation stood out in the past two presidential elections as strikingly Democratic.
God
- The Millennial generation is less likely than older generations to be affiliated with any religion. They are also less likely to say they believe in God. A solid majority still do—86 percent—but only 58 percent say they are “absolutely certain” God exists.
“Will the Millennial” Is On to Something
The Millennial Generation is not a static, homogenous group. They are multifaceted and savvy, and are the most educated generation in history. They are a far cry from hover-board toting, man-bun wearing, emoji proliferators.
Sure, they are skeptical, but wouldn’t you be growing up in an era of recession, political deceit, and bailouts?
Who Are Those Guys?
Hopefully these statistics get you closer to answering this question.
And it is likely many of The Millennial Generation will know exactly what movie that line came from: Butch Cassidy and The Sundance Kid. Because this blog has decided to rescind the stereotype that Millennials have not seen movies produced prior to the 80s. Totes.
Image Credit: Shutterstock
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