‘Doing Better’ Than Our Parents

There’s always talk in the media lately about wealth accumulation.  Seems like we only hear about personal money habits in the mainstream media when there’s some sort of looming crisis.  God forbid they talk about getting out of debt, saving, and investing when times are good.  I guess it just wouldn’t draw that many eyeballs.  However, the idea that ‘Younger Generations Aren’t Going to Do as Well As Their Parents’ , that’s certainly eye-catching.

For all of my life I’ve heard the story of parents wanting to ensure that their kids do better than they did.  ‘Better’ usually means a more high paying job, nicer home, and more overall retirement savings and wealth accumulation.  Minus the home, I’m probably going to end up doing better than my parents but it’s not because I’ve got some super fancy job that pays a lot.

I did have a fancy job when I left college.  As a matter of fact, even the internships I did in college paid me more money than my parents had ever heard of.  However, I hated the Corporate World.  I wasn’t interested and didn’t fit in.  This is what I often don’t hear in these conversations about wealth accumulation and doing better, can younger people say that they are happier than their parents at the same age?  I can remember my mother and stepfather in their 40’s and I’m definitely happier than they were.  

I guess what I’m trying to say is that ‘doing better’ can’t simply be a function of numbers.  Obviously there is having enough money to live but that’s balanced with having the peace of mind that comes with being yourself everyday and pursuing that which makes you happy.

Having more money, more house, and more stuff is a hollow version of the future to chase, in my opinion.  I think I’m doing better than my parents because I don’t chase money but I do know how money works.  I educated myself.  I continue to seek mastery of money and my spending habits because it gives me more control of my time.  More control of my time means more opportunities to do things that I find meaningful.  

Living a life with meaning and purposefulness certainly involves money but it’s not the only piece of the puzzle.  If doing better than older generations means having the financial intelligence to master money and pursue that which is fulfilling, then that’s a vision I’ll chase.

What do you think?