Are we following our passions or instant gratification?

This LinkedIn Article by Dev Aujla, “The Career Myth That is Hurting Millennials” really answered a lot of the questions I have been seeking about the harm behind “do what you love” for a career. We all have passions in life and are called to a higher purpose, and when we get into that natural flow of what that means for us, we’ll “never work another day again.” But too many Millennials, myself included, took this as we’ll never struggle, have a bad day/week/year or crummy job in the pursuit of our passions. I think too many of us have a rose-tinted view of what our world of work will look like, yet when coupled with a changed economy, the largest workforce in the modern world’s history, and a bigger push for the debt-infused starting block called college, many graduate and young working professionals are feeling more bamboozled than blessed.

An excerpt from Dev’s article:

“The misunderstanding of “bliss” is that is means “happiness.” But happiness is fleeting, and cannot be achieved by finding that one catch-all job. […]

Growing up on a steady diet of instant gratification, we are looking for that one “meaningful job” directly out of college that will provide everything – happiness, purpose and money. Today, our career search has molded itself around this pursuit of quick fulfillment.”

To read more visit the full article: https://www.linkedin.com/pulse/article/20140908152152-193436078-the-career-myth-that-is-hurting-millennials?trk=tod-home-art-list-small_1  

 

So Why the Advocacy? What is the purpose behind all of this? This article is a great summary

Authors Note: This article raises some great points and I loved this quote, “As today’s teens and 20-somethings enter the workforce, they will partly offset their parents’ exit. Indeed, for many youngpeople, mom and dad can’t retire soon enough; some experts argue that boomers, by staying in the workforce longer than past generations, are essentially clogging the usual professional pathways, leaving few opportunities for people beginning their careers.” Read more: http://fivethirtyeight.com/features/what-baby-boomers-retirement-means-for-the-u-s-economy/ This article is also copied below:

OUR CHANGING ECONOMY 10:24 AM MAY 7, 2014

For decades, the retirement of the baby boom generation has been a looming economic threat. Now, it’s no longer looming — it’s here. Every month, more than a quarter-million Americans turn 65. That’s a trend with profound economic consequences. Simply put, retirees don’t contribute as much to the economy as workers do. They don’t produce anything, at least directly. They don’t spend as much on average. And they’re much more likely to depend on others — the government or their own children, most often — than to support themselves.

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The recession may have delayed the inevitable for a time. The financial crisis wiped away billions in retirement savings, forcing many Americans to work longer than planned. But the stock market has since rebounded, and there are signs that more Americans are at last feeling confident enough to leave the workforce. The labor force participation rate for older Americans — the share of those 55 and older who are working or actively looking for work — has fallen over the past year after rising through the recession and early years of the recovery. Roughly 17 percent of baby boomers now report that they are retired, up from 10 percent in 2010.1

Now that the wave has begun, nothing is likely to stop it. The Census Bureau on Tuesday released a pair of reports that show just how dramatic an impact the graying of the population will have in coming decades.

Nearly a quarter of Americans were born between 1946 and 1964, the typical definition of the baby boom generation. That’s more than 75 million people. In their heyday, the boomers were an unprecedented economic force, pushing up rates of homeownership, consumer spending and, most important of all, employment. It’s no coincidence that the U.S. labor force participation rate — the share of the adult population that has a job or is trying to find one — hit a record high in the late 1990s, when the boomers were at the peak of their working lives.

It’s been downhill ever since. The participation rate hit a 36-year low last month, and while there are multiple reasons for the decline, the aging of the baby boom generation is a dominant factor. In 2003, 82 percent of boomers were part of the labor force; a decade later, that number has declined to 66 percent, and it will only continue to fall.

All else equal, fewer workers means less economic growth. One way to measure this is a figure known as the “dependency ratio,” or the number of people outside of working age (under 18 or over 64) per 100 adults between age 18 and 64.2 The higher the ratio, the worse the news: If more of the population is young or old that leaves fewer working-age people to support them and contribute to the economy.

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The U.S. dependency ratio has been improving in recent decades, falling from 65 in 1980 to 61 in 2000 to 59 in 2010. But now the trend is set to reverse. By 2020, the Census Bureau estimates, the U.S. dependency ratio will be back to 65; in 2030, it will be 75, the worst since the 1960s and 1970s, when the baby boomers were children.

The dependency ratio is a blunt instrument. Not everyone retires the day they turn 65; indeed, as lifespans lengthen (and pensions decline), more people are working later in life. But only up to a point: Plenty of people work past 65; few work past 85.3 It will be a while yet before baby boomers start turning 85, but more of them will get there than any previous generation. By 2050, more than 4 percent of the population will be at least 85 years old, more than double today’s figure.4

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As bad as the U.S. demographics look, things are worse in much of the world. The U.S. has fewer residents over 65, as a share of its population, than most developed countries, and the disparity will only grow in coming decades. In 2050, about 21 percent of the U.S. population will be 65 or older compared to more than 30 percent in much of Western Europe and an incredible 40 percent in Japan. China, as a result of its “one child” policy, faces its own, somewhat different, demographic crisis.

One reason the U.S. is in better shape is its comparatively high rate of immigration. Since people tend to migrate when they are younger, immigrants tend to bring down the age of the population as a whole. Moreover, at least in the U.S., immigrants tend to have a higher birth rate than the native-born population, although the gap has narrowed somewhat in recent years. The future direction of immigration, therefore, makes a big difference to the age breakdown of the U.S. population. The Census Bureau’s demographic estimates are based on a middle-of-the-road projection of future immigration, but the bureau also publishes alternative scenarios. In the “high immigration” scenario, the U.S. has nearly 22 million more working-age residents in 2050 than in the “low immigration” case.

The U.S. also has another trend working in its favor: Baby boomers are retiring just as their children — sometimes known as the “echo boomers” — are entering their prime working years. Boomers are no longer even the largest age cohort; more of today’s Americans were born in the 1980s and 1990s than in the postwar years. As today’s teens and 20-somethings enter the workforce, they will partly offset their parents’ exit. Indeed, for many young people, mom and dad can’t retire soon enough; some experts argue that boomers, by staying in the workforce longer than past generations, are essentially clogging the usual professional pathways, leaving few opportunities for people beginning their careers.

Thanks in part to the echo boomers, the dependency ratio will flatten out by about 2030. Not that long thereafter, the oldest of the echo boomers will begin entering their own retirement years, and the cycle will begin anew.

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4 Ways to Keep Your Millennial Workers Happy by Rieva Lesonsky CEO, President & Founder, GrowBiz Media

4 Ways to Keep Your Millennial Workers Happy by Rieva Lesonsky CEO, President & Founder, GrowBiz Media

A very encouraging and truthful article about how Millennials crave security and longevity in the career, and how our career is more than a job but a pursuit of our life’s passions. We may have a different view of what a job really is versus a career in comparison to previous generations, but our values remain much the same. In fact, there has been research showing that Baby Boomers have job hopped almost as often as Generation Y in the early goings of their career (http://money.cnn.com/2013/04/09/news/economy/millennial-job-hopping/).

Enjoy the article!

Culture Change

I haven’t thought of culture change a lot, but I have been hearing a bunch about it, especially in professional and collegiate football. With more awareness of head trauma and how the game [should] be played and enforced, we’ve seen the game altered just enough toward safety to make it enjoyable to watch again.

However, I never realized how deep the NFL is taking this culture change until this morning when I heard Clay Matthews may be out for several weeks due to a broken thumb. In the past, a broken thumb would get a cast and bandaged up and the player would return to the lineup the very next week (ala Brett Favre).

Now, it’s taken care of properly and the player doesn’t return until they are medically cleared. Even for a guy like Clay Matthews, who plays hard and breaks hard.

Culture Change. 

At first my reaction to the news was, what! Matthews out for a month or more? Here is a guy who can’t buy an injury break. As talented as he is, he’s been injured to some extent every year around the mid part of the season.

It’s a broken thumb you ninny…

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Millennials: Turns Out the ‘Entitled Generation’ Is Willing to Sacrifice

Ken Pearson:

Another great article showcasing how we are fighting the stereotypes of our generation and trying to grow up, become responsible not only for ourselves but for the messes of past generations and get ahead despite our fumbling start.

Originally posted on Business & Money:

By most account, America’s young consumers are stereotyped as a selfish, impulsive, highly indulged bunch. More so than other age groups, Gen Y has been shown to splurge on restaurant meals they probably can’t afford, pamper themselves with impulse buys, and partake in “self-gifting” during the holidays. They’ve also been criticized in the workplace for focusing on their own needs rather than on-the-job performance.

But the idea that all millennials act the same way, or that millennials as a group are entirely self-centered and unwilling to sacrifice is just plain wrong. Here’s some proof:

They’re eating out less. Normally, young people can be counted on to frequently eat out at restaurants. In 2007, for instance, Americans in the 18 to 34-year-old demographic averaged 252 dining experiences outside the house annually. According to a new study from the NPD Group, the current average for that same age group is…

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Just How Underemployed Is Gen Y?

Ken Pearson:

I think this article paints a strong picture for many situations that us millennials find ourselves in. Hopefully it’s a strong starter of throwing off the stigmas that come from being associated with Gen Y. We are not selfish, lazy and unmotivated…we are resourceful, trying to survive and feel an unprecedented urgency to get things done and find sustainable change to the world that our predecessors left for us to clean up.

Originally posted on Business & Money:

Gen Y is in a bind. This group of 18- to 29-year-olds has been told they must go to college in order to find a decent job. Yet upon graduating, few jobs are available to young people — and those that are open often don’t require a college degree.

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