When asked whether they and their family will be better or worse off in a year, First Globals™ are the most likely of any generation to believe they will be better off -- 38.6% of First Globals™ believe they will be better off in a year, compared to 26.0% of those 30-49, 19.6% of those 50-64, and 13.7% of those over 65.
What do you think accounts for First Globals™’ optimism? Are they more likely (for example) to be in good health and have less financial obligations and thus more likely to feel like they will be better off in a year? Are older generations more cynical and thus less likely to feel like they will be better off in a year? What do you think?
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Most of my friends who are First Globals seem to be eternal optimists. Despite what their health or financial situation may be, they never seem to have a care in the world. They always know things will work out. Perhaps we could all take a lesson from the First Globals and look to the sunny side of life. May be the older generations are too stuck in reality, and the ways we know. I still cannot seem to understand why we always think things get worse as we get older. If we foresee ourselves in tough economic times in the future...shouldn't we take precautions and prepare? May be older generations are too happy being dark and cynical to hope for anything else.
But older generations, with children and mortgages and other financial obligations that first globals generally do not have, may be more affected by an economic downturn. I wonder if economics are the primary reason people feel pessimistic or not?
I was thinking I was going to retire in 2-3 years. Now that I have lost 250K in my retiremnt funds, I guess I have a right to feel pessimistic.
Granted, most First Globals do not have mortgages, but they do have rent payments, which sometimes can be more than mortgages...as I am finding out. Many of them also have student loan obligations which can add up in the long run. All I am trying to say is I am noticing the First Globals tend to see the world in a different light.
I miss being a First Global by a few years, and I do not have a mortgage, but I do have most of the same financial obligations most First Globals have. I do worry about my financial future, and I can't help but wonder how the First Globals tend to stay positive.
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