Insecure younger generation just can’t get ahead!
A new book by author Jennifer Rayner, Generation Less: How Australia is Cheating the Young,tells us again that the gap between generations is growing with young people being left behind in material wealth and mental wellbeing. Ms Rayner reckons that those born from the 1980’s onwards have an ‘enduring handicap” creating a new “precariat” social class lacking security andpredictability.
Cartoon by Matt Golding
The book does recognise that “There have always been gaps between younger people and older people in Australia, and that’s true everywhere because young people are starting out in life, because they haven’t had as much time in the workforce. But over the last 30 years in Australia what has happened is that all of those gaps are getting wider.”
The book gives examples of young people who just can’t seem to get ahead in their chosen professions and paints a pretty bleak future for our younger generation’s financial, emotional and mental future.
It does mention some policy initiatives that may help redress the problem but does not seem to point too much that these younger people can do to help themselves.
Maybe a quick read over our blog further down the page entitled ‘Packer” may give, at least those with a job, some ideas on how to keep the money they earn and let it grow through keeping more of what they earn and investing in their future. We know it’s not possible for all, but so many who have a job and parents prepared to guarantee a loan to start do not need to fall into the precarious trap the book describes.
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