Gen X is known as the forgotten generation. Gen X is between the bigger size and expressive generations Baby Boomers and Millennial or Gen Y. Gen X are people born between 1965 and 1981. Baby Boomers are people born between 1946-1964. Millennials are people born between 1981 and 1996.
Our childhood was latchkey. A latchkey kid is defined as a child left home alone or without supervision for most of the day because their parents are working. Another definition is a child returns to an empty residence after school or after other activities without supervision. We went to school by ourselves. We went home by themselves. We gathered in feral packs. We roamed the streets. The activities included riding bikes, playing baseball, skateboarding, and jumping rope. We included kids we didn't like because of inclusion. There were commercials reminding latchkey parents about their children; for example, a local news commercial said, "It's 10pm. Do you know where your children are?" Our parents said before we exited the front door, "Be home before dinner." Perhaps, our latchkey childhood explained no parental involvement. No guidance. No teaching. No nurturing.
Gen X prefers calls over text. We desire offline communication over online communication. We are more patient. Persistence and grit are true attributes. The process is more valuable than the result. Privacy is paramount. We prefer cash over credit cards.
Some world events included the Vietnam War, Watergate, the energy crisis in the 1970s, AIDS in the 1980s, President Ronald Regan's Reaganomics, Chernobyl, the Berlin Wall collapse, the Cold War ended, and the Apple and IBM personal computers. There were disco, MTV, and Michael Jackson.
The Gunnie Pigs
Gen X are the first people to watch educational television such as Sesame Street, The Electric Company, and Schoolhouse Rock! We experienced changes in music from vinyl records, cassette tapes, CDs, and then mp3s. We experienced changes in communication from typewriters to word processors; from landlines, car phones, pagers, mobile phones, cell phones, and then smart phones; from floppy disks, USB storage devices, email attachments, and then the cloud.
Gen X are the first workers with defined contribution accounts. These accounts are 401(k) and IRA for which the workers are responsible for their retirements. Baby Boomers retirement accounts are defined benefit pensions for which the company funded their retirement accounts. Moreover, we are the first generation both parents worked for dual incomes.
We Gen X juggle our lives by taking care of our children and our aging parents. We care about our families. We make sure our children are active such as dance class, band practices, and sports practices. We make sure our parents arrive at their medical appointments and rehab sessions. On the other hand, our generation saw an increase in the number of divorces.
Further, Gen X struggles with personal finances. It's an economic inflation storm of college tuition, utilities, mortgages or rent, insurances, and bare necessities. Some Gen X support their parents and their adult children. The increase costs make some Gen X work in their 60s and 70s. I hope they don't lose their jobs. They experience ageism while finding employment. They experience some jobs replaced with AI.
The 2000s decade Gen X's 401(k) and IRA declined because of the dot com bubble in Mar 2000 and the real estate bubble in Sep 2008. Our retirement accounts declined during a brief inflation in late 2018, COVID-19 global recession from 2020-2022, and the present inflation. We can be the first generation to experience the Social Security collapse. The forecast is Social Security loses all funding in the year 2033. Payments are decreased by 20% to 25%.
Update On A Past Blog
I wrote blogs blaming my parents for my unsuccessful life or loser life. I forgave them decades ago. It's not entirely my parent's fault. Gen X is to be blamed, too. Here are three blogs I blamed my parents: Top Ten Don't Be My Parents written on Mar 17, 2020, There Are Many Children With Parents Like Mine written on Jun 2, 2014, and Top Ten Lessons My Parents Failed To Teach Me written on May 2, 2013.
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