There is much talk about whether the boomer generation's children will be the first to be worse off than their parents. Or maybe it is the generation X's kids. Whatever. People are looking for the place in the "how good we're doing" curve that it declines. Generational "keeping up with the Jones'" among other things, but there is more going on here.
For those keeping score, it tends to be based on possessions, wealth and job futures. How about health, medical care, freedom to experience, and other things?
I have no idea whether my three sons will make more than I am making. My oldest now makes more in his own business than I did at his age in my own business. Adjusted for inflation, it is likely still more. I was married and he was born when I was his age now, which has some implications, too. Upon greater review of each of the boys (ages 25, 21, 14), I know they are better off in many ways, and I'm proud to say so. The ways they are better off speak more to their potential future lives than whether they make more than me, have more than me or anything else that is wealth or consumption related at comparable ages.
I can safely say that at comparative ages to me, each has been more confident, mentally tough, competitive, charming, confidently curious, and expressive of their thoughts. The checkbook measurables don't much matter to me any more.
Thursday, May 31, 2007
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