The volume of anger directed towards older generations has been amplified in recent years. Many younger people are rightfully angry that things cost much more, that housing feels more out of reach, that wages have not kept up with rising costs, that new technologies are making what they studied in college less desirable in the workforce, etc. These feelings are justified. But are younger generations manifesting their anger at the wrong things or people? Is this time vastly different to what prior generations experienced?

A 2020 AARP study found that 78% of workers aged 45-65 had experienced or witnessed age discrimination, the highest rate since 2003 and up from 61% in 2018. Younger generations are being bombarded 24/7 with imagery of a lifestyle few can afford at any age, let alone in their 20's. Is ageism being fueled more by a warped sense of entitlement than student debt? One of the biggest differences between younger and older generations is that owners are faring much better in this economy (and tax laws) than mere earners, and chances are you do not own much (or anything), when you are younger. Ownership fuels wealth growth. Warren Buffet accrued more than 80% of his wealth between the age of 70 and 95. At the age of 40 his net worth was 0.00017 of what it is today 55 years later.

In a recent panel about buying homes, a lady on the panel in her 20's described her experience buying her first home. Yes, she was in her 20's, not her late 30's or 40's. She described the fear, anxiety, lack of affordable options, etc. And she also then described her pragmatic, educated path towards home ownership. I remember clearly when I was in my 20's wanting to own a home. The prospect then also felt untenable. My income then was roughly 20% of the cost of the home. That equates to an income today of around $200,000 per year next to a $1 million home. Mortgage interest rates back then were higher than they are today.