Finally, some positive press for a slightly overlooked generation. From Foxnews.com’s Research Shows Generation Xers Get a Bum Rap, But They’re No Bums:
The new 30-somethings do face some challenges that others didn’t. They’re making less than their parents were at the same age. According to U.S. Census estimates, the median income for men between 25 and 34 in 2005 was $31,161. In 1975, adjusted for inflation, it was $35,296. The comparable data for female workers was $22,815 in 2005 and $16,247 in 1975.
And, they have much bigger bills. It’s not just the school loans, it’s the generally bigger lifestyle that hurts their bottom line. Think about the computer, cell phone, broadband service and more that are a necessary part of life now.
Gen Xers have some unique strengths, too. They are technologically savvy and unafraid to put their finances online or talk about their financial problems and solutions, says Marc Hedlund of Wesabe (http://www.wesabe.com), a social networking/financial planning Web site that is attracting users in their 20s and 30s. And they have that vaunted cynicism to keep them from trusting strangers — or employers — with their money too easily. Most are wise to not count on retirement benefits that are loosely promised to be there decades into the future.
“Vaunted cynicism” – ouch. I’m not sure that is a positive attribute for describing an entire generation. “Unafraid to put their finances on the line” is a good description for this age group. Gen X sales candidates seem to be the least concerned about commission-intensive positions. Of course, this is a generalization, but one we have seen play out many times over the years.