Letters & Readers

Family Financial Conversations

I was visiting my parents for Christmas and my father and his friend had an interesting conversation about money. He said " all our generation know is to work until we're 65, retire and receive a check." He went on to say this generation will not have that. They quit work when they want and start businesses and retire when they well please, they do not have the comfort of a pension, so they are more hungry to make money. They have to go to college and obtain additional skills just to become middle class whereas in the past, one job and one skill was enough.

I have to agree, serials entrepreneurs is very common these days. A job and spousal income is not enough. No one just settle for one income stream. It's also common to switch jobs every year or two. I remember when I was fresh out of college, my mother asked why I cannot hold a job. I was hopping from job to job every two years or less. I think I had 5 jobs within a 7 year period. I tried to explain to her that times have changed and this is quite normal. At least every job I received paid more than the previous one. Plus, I tend to get bored easily.

Gone are the days of working 30 years at one employer and getting a pension. These are the days of entrepreneurs and hustlers. "All paid jobs absorb and degrade the mind," said Aristotle. Also, being stable may enable you to miss out on opportunities. I'm not sure which generation is better, but a no-debt and cash-heavy position is a goal most of us strive for, because living large and having great wealth is something we all want.

Linda -- Atlanta, GA 
www.moneymonk.net