Couple of articles caught my eye in the past couple of days that together have me scratching my head …
First, an HBR blast which argued that the best way to reduce stress is to lower your expectations.
Don’t expect much out of life, your friends & family or your co-workers.
If you don’t expect much, you won’t be disappointed and your stress level will be kept in check
Then came a Newsweek article about the economic jam Millennials are in … with student loans, a bad job market, etc.
Started with an interesting point:
Median net worth of people under 35 fell 37 percent between 2005 and 2010; those over 65 took only a 13 percent hit.
The wealth gap today between younger and older Americans now stands as the widest on record.
The median net worth of households headed by someone 65 or older is $170,494, 42 percent higher than in 1984
The median net worth for younger-age households is a paltry $3,662, down 68 percent from a quarter century ago.
OK, reason for the Millennials to despair, for sure.
And, the proposed prescriptions?
There’s a growing notion among economists that the new generation must lower expectations.
For example, the millennial generation shouldn’t set its sights on homeownership … “because it’s going to be out of reach for so many of them.”
They are understandably more amenable to government-mandated income redistribution … since so few young people pay much in the way of taxes.
All I can say is: YIPES.
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