I think it is a mistake to take a newspaper article as a commentary on a generation and its thinking. I always remind myself that they are looking to sell newspapers. The world has changed, and these kids grew up in an entirely different world than most of us did. Back in the day, there wasn't the internet, kids weren't told the only way to succeed was by going to college like they are today, people didn't have access to endless supplies of credit, or exposure to the onslaught of social media and the rampant growth of advertisers telling everyone how to live the "best life" from the time they were born. As a society, we have also grown and learned that caring for your whole being(mental, social, and emotional well-being) is also an important factor in one's happiness and having a well-lived life. I believe we are all better for it. Of course, they may have some different priorities and expectations. It is a vastly different world. Just as it was a different world for us than our parents' generation, might our grandparents have thought it extravagant for everyone to have refrigerators, radios, electricity, and air conditioning? I also have to say that we all know people who, even back in the day, lived for the moment and spent recklessly, or didn't save. I have four kids in this younger generation (ages 26-32). My son and his wife have a home that they purchased with less than 20%. It is a modest 3-bed 1-bath, that requires work, and they are slowly working on it. They also grow their own food, cook at home, and don't go on vacations in an effort to pay off their wife's student loans asap. My youngest son lives in a modest apartment, works a full-time job, and has a side hustle to work toward saving that 20%+ down for a home. My other children have both made investments in furthering their education and their careers, while also saving for retirement and putting aside a little for a future home purchase. For them, travel and following their passions (skiing, mountain biking) are important to them at this time in their lives, so that is how they spend a good portion of their disposable money and time. Guess what, I feel like all my kids are doing the right thing for themselves at this time. Yes, my kids bemoan ( and I agree with them) the outrageous costs of buying a home or going to college. Yes, they believe that a smartphone is not a luxury to them, but a necessity. Yes, I do find myself sometimes looking at them and their view of the world and how it operates and shake my head, but they are living in a world that isn't remotely the same as the one that you or I grew up in, so it makes sense for them to have a different view and methodology for both living and succeeding in it. I guess my point is that life experiences differ, people's priorities differ, but I believe the values that helped all of us to succeed still exist for this next generation and in some ways may even be better.
Acknowledging that someone else's choice is not the right one for you is different from trying to make your decision the only right one, even if we are only thinking it in our heads. People get to choose to make their own decisions and handle the consequences of those decisions; that is how we learn and grow. Whether someone has a nose ring, tattoos, or buys lottery tickets is their choice, as is someone driving a fancy car, owning a second home, or taking an expensive vacation. I try to remember that I have been imperfect and made poor decisions (still do- but hopefully not as often- thanks to the grace of age). I, too, can catch myself being judgmental, but now when I do, I try to remind myself to give people the benefit of the doubt. How do we know that those young mothers weren't picking up lottery tickets for Grandpa? Maybe the energy drinks are the only way those mothers can stay awake to work the night shift after a long day of caring for children. What if the electricity card is a small gift for a down-on-his-luck neighbor? And honestly, every kid deserves a 10-cent lolly every once in a while. Your interpretation of the situation could be 100% spot on, but maybe there is more to the story, at least that is what I try to remind myself..
I am so sorry to hear of your diagnosis and wish you much enjoyment and love in your remaining days. I send you and your family prayers for strength as you navigate this new reality. Thank you for all the excellent advice and information you have provided in your Humble Dollar column. As someone who struggles to "get" all the financial mumbo jumbo required to handle my finances, you provided some easy-to-understand and common-sense information. I was always excited when I saw a new column by you was added. Sending a huge thank you for your amazing contribution to my and the world's understanding of finance... I hope you and your wife enjoy your travel. Just for the record, I wouldn't spend $15,000 on a plane ticket—I would rather see my family or a favorite charity use the extra $ instead (though premium economy would be a no-brainer). Thank you again for all your sage advice- I know your generous spirit in sharing all you have learned on your financial path, will live on in the countless people who have learned from your writings.
Comments
Thank you, I'm glad to have had the opportunity to provide my perspective.
Post: The impossibility of defining needs.
Link to comment from January 10, 2026
I think it is a mistake to take a newspaper article as a commentary on a generation and its thinking. I always remind myself that they are looking to sell newspapers. The world has changed, and these kids grew up in an entirely different world than most of us did. Back in the day, there wasn't the internet, kids weren't told the only way to succeed was by going to college like they are today, people didn't have access to endless supplies of credit, or exposure to the onslaught of social media and the rampant growth of advertisers telling everyone how to live the "best life" from the time they were born. As a society, we have also grown and learned that caring for your whole being(mental, social, and emotional well-being) is also an important factor in one's happiness and having a well-lived life. I believe we are all better for it. Of course, they may have some different priorities and expectations. It is a vastly different world. Just as it was a different world for us than our parents' generation, might our grandparents have thought it extravagant for everyone to have refrigerators, radios, electricity, and air conditioning? I also have to say that we all know people who, even back in the day, lived for the moment and spent recklessly, or didn't save. I have four kids in this younger generation (ages 26-32). My son and his wife have a home that they purchased with less than 20%. It is a modest 3-bed 1-bath, that requires work, and they are slowly working on it. They also grow their own food, cook at home, and don't go on vacations in an effort to pay off their wife's student loans asap. My youngest son lives in a modest apartment, works a full-time job, and has a side hustle to work toward saving that 20%+ down for a home. My other children have both made investments in furthering their education and their careers, while also saving for retirement and putting aside a little for a future home purchase. For them, travel and following their passions (skiing, mountain biking) are important to them at this time in their lives, so that is how they spend a good portion of their disposable money and time. Guess what, I feel like all my kids are doing the right thing for themselves at this time. Yes, my kids bemoan ( and I agree with them) the outrageous costs of buying a home or going to college. Yes, they believe that a smartphone is not a luxury to them, but a necessity. Yes, I do find myself sometimes looking at them and their view of the world and how it operates and shake my head, but they are living in a world that isn't remotely the same as the one that you or I grew up in, so it makes sense for them to have a different view and methodology for both living and succeeding in it. I guess my point is that life experiences differ, people's priorities differ, but I believe the values that helped all of us to succeed still exist for this next generation and in some ways may even be better.
Post: The impossibility of defining needs.
Link to comment from January 6, 2026
Acknowledging that someone else's choice is not the right one for you is different from trying to make your decision the only right one, even if we are only thinking it in our heads. People get to choose to make their own decisions and handle the consequences of those decisions; that is how we learn and grow. Whether someone has a nose ring, tattoos, or buys lottery tickets is their choice, as is someone driving a fancy car, owning a second home, or taking an expensive vacation. I try to remember that I have been imperfect and made poor decisions (still do- but hopefully not as often- thanks to the grace of age). I, too, can catch myself being judgmental, but now when I do, I try to remind myself to give people the benefit of the doubt. How do we know that those young mothers weren't picking up lottery tickets for Grandpa? Maybe the energy drinks are the only way those mothers can stay awake to work the night shift after a long day of caring for children. What if the electricity card is a small gift for a down-on-his-luck neighbor? And honestly, every kid deserves a 10-cent lolly every once in a while. Your interpretation of the situation could be 100% spot on, but maybe there is more to the story, at least that is what I try to remind myself..
Post: I Don’t Like to Judge…But.
Link to comment from November 10, 2025
I am so sorry to hear of your diagnosis and wish you much enjoyment and love in your remaining days. I send you and your family prayers for strength as you navigate this new reality. Thank you for all the excellent advice and information you have provided in your Humble Dollar column. As someone who struggles to "get" all the financial mumbo jumbo required to handle my finances, you provided some easy-to-understand and common-sense information. I was always excited when I saw a new column by you was added. Sending a huge thank you for your amazing contribution to my and the world's understanding of finance... I hope you and your wife enjoy your travel. Just for the record, I wouldn't spend $15,000 on a plane ticket—I would rather see my family or a favorite charity use the extra $ instead (though premium economy would be a no-brainer). Thank you again for all your sage advice- I know your generous spirit in sharing all you have learned on your financial path, will live on in the countless people who have learned from your writings.
Post: Looking Different
Link to comment from July 8, 2024