What Is Generation X's Source Of Income?

The term “generation” typically refers to a specific time period, like how people refer to the baby boomers as the “Baby Boom” generation or millennials as the “Millennial Generation.” With a shift in economy and culture, there is now a new group that has been coined — generation X!

This isn't an official name, but it is becoming very popular. People have labeled this demographic the "New Economy" generation because they feel this category encompasses everything from individuals who worked hard their entire lives to afford a house and a family to those who lived beyond their means during the era of easy credit.

Overall, members of generation X seem to enjoy satisfying jobs that allow them to make an adequate income while also experiencing career growth. These types of employers are known for offering benefits such as health insurance, retirement savings, and/or tuition reimbursement.

The best way to describe these professionals is someone who is motivated by money. This may sound crazy, but we all have different motivations in life. Motivating yourself with something other than money can be difficult at times, which is why some people don’t necessarily feel well about their job.

Generation X makes good money due to its motivation. They earn cash not out of enjoyment, but to satisfy a need to succeed in work and to experience success. These days, though, most generation X workers find their jobs motivating.

There are several reasons for this.

Generation X has become a source of income

what is generation x source of income

As we mentioned earlier, generation x grew up with technology! With technology constantly changing, it is easy to see how generation x learned about business from that. They now are running businesses through their use of social media, websites, and advertisements.

Many people start their own business due to having an obsession or passion they want to go towards. It can be for anything such as creating your own website, offering freelance services, or starting a YouTube channel.

Some begin by selling products online then expanding onto other means of sales such as giving away free items to gain followers before buyingering them later. This way they can test out whether or not they will sell more than one product!

There are also individuals who begin investing or trading because of passions they have. People may begin investing in stocks or cryptocurrencies because they enjoy doing so.

This article will talk about some ways you can make money being a member of generation x.

The generation gap in job opportunities

what is generation x source of income

As we mentioned earlier, one of the major causes of the generation gap is the lack of availability and diversity of good career paths. This is especially true for people under 30 years old. More than half of all workers are either directly excluded or never exposed to employment options that pay well.

There have been some small steps towards solving this problem but they are too few compared to what needed to be done.

A solution that has received significant attention over the past decade is changing how people learn about careers. Online education has become increasingly popular as a way to teach individuals about various fields and positions so that they can choose which ones sound interesting to them.

The generation gap in consumerism

what is generation x source of income

As we mentioned earlier, technology has revolutionized how people spend their time. It is becoming increasingly difficult to tell which industries are thriving due to the influence of digital media. Technology has made it easy to spread messages about products or services through different platforms, making it less important where you receive marketing information from- you can instead choose to focus more on what information you want to gather and process.

This shift towards online content consumption is creating an effect known as the “post-consumer” society. Due to this, companies have found new ways to thrive by offering services and products that connect with others via media.

Generation Y (those born between 1980–1994) grew up during the era of the internet, and therefore grow up understanding it as a tool for knowledge and communication. They also grew up surrounded by technological advancements, so they understand how powerful it is. This makes them more likely to use the internet to search for and find things, and believe that anything worth having or doing available free is good enough.

The members of Generation X didn’t experience the same level of constant connectivity, but they are still much less likely than those under 30 to pay full price for goods. This isn’t because they don’t enjoy spending money, but rather because they value savings over excess material possessions.

Members of Generation X are also not as influenced by advertising as younger generations, making it hard to recruit them into buying new products.

The generation gap in parenting

what is generation x source of income

As I mentioned earlier, there is a myth that parents just get “smarter” as their kids grow up. This isn’t true at all! In fact, it’s quite the opposite – parents are actually getting dumber as they parent.

Parents today seem to think that by showing your kid how to use an app or computer program you have done your job as a parent. You made sure he was well-educated, right?

Wrong. It's time we reevaluated what education really means.

Education should be more than just learning how to use technology. Kids need life lessons much older students had. They need lessons in respect, morals, compassion, and understanding other people. These things are hard to find when most adults don't teach them to their children.

As parents start choosing educational toys and materials for their child instead of buying gadgets, this shows lack of knowledge about educating young ones.

The generation gap in education

what is generation x source of income

A lot of people refer to millennials as having an “entitled” attitude, but what about older generations? According to research, Gen-Xers are more likely to have higher income than their parents’ generation! This is due to the generation gap in educational attainment that has occurred over the past twenty years.

Since 2002, there has been a significant drop in adults aged 25–44 with at least a bachelor’s degree. In fact, one out of every five young professionals (aged 22–34) doesn’t have a high school diploma or any sort of college degree!

This drop in educational attainment is most prevalent among individuals who make up the largest chunk of workers – those under 35. One reason for this is that many employers don’t require a college degree anymore, so some people choose not to go back and get one.

Another reason is that many students feel overwhelmed by the cost of attending college these days. Many scholarships and grants are geared towards specific fields, so it can be tricky figuring out how to pay for tuition without draining your savings.

Gen-Xers seem to have taken advantage of this situation, however. Almost half (46%) of all working age Americans (20–64) hold either a Bachelor’s Degree or Higher, which is the highest proportion ever recorded. Only two other points were above 40%, both in 1975 (39% in men, 36% in women).

The generation gap in social life

what is generation x source of income

As we mentioned earlier, these days it is very difficult to tell what kind of lifestyle people are living as generations seem to be breaking down more and more. People tend to portray an exaggerated image of their lives that may or may not match with reality.

This is especially true for young adults – the so-called “GenX” individuals who have become experts at using technology to keep in touch.

By now, most teens and twenty somethings will agree that staying connected via phone, computer, and/or chat apps has become almost a way of life.

But while they might enjoy this connectivity, it can also lead to something else: less real-life interaction and friendship.

As such, there comes a time when you just need some quality face-to-face time.

And although technology can sometimes hinder this, making it hard to connect physically, there are ways to get around this.

The generation gap in financial stability

what is generation x source of income

As we discussed, one major cause for why some individuals are unable to pay their bills is due to poor money management or lack of income. Another reason is because they have no source of income!

Generation Xers (those born between 1965-1984) are a special case when it comes to employment opportunities. This demographic has entered into middle age and many are looking to retire soon.

However, there aren’t nearly enough jobs available to satisfy the demands of those seeking employment. It seems that every year employers need less and less employees, which impacts career options for older workers.

This can be quite frustrating as retirees often struggle to find work. Luckily, there are ways to achieve your goal of becoming financially stable.

Here are 5 easy ways you can develop an additional source of income.

Generation X jobs

what is generation x source of income

Generation X, also known as baby boomers or millennials depending on how you look at it, is typically defined as people born between 1965 and 1980. This means that they are in their twenties to forties range!

But what kind of job does generation x belong to? They’re not Millennials nor are they older generations like the Boomers or the Silents.

They don't have retirement benefits, so why should we include them in our income bracket?

There's no easy answer to this question because every individual has different definitions and interpretations of who belongs to which generation. However, here are some common ones:

Boomer - someone with children under the age of eighteen

- someone with children under the age of eighteen Gen Xer - someone in their twenties, sometimes referred to as early millennial

- someone in their twenties, sometimes referred to as early millennial Millennial - anyone aged twenty one to thirty five

So just because someone isn’t in any of these categories doesn’t mean they can’t be considered part of the boomer, gen yor or millennial generation.

About The Author

Tiara Ogabang
Tiara Joan Ogabang is a talented content writer and marketing expert, currently working for the innovative company juice.ai. With a passion for writing and a keen eye for detail, Tiara has quickly become an integral part of the team, helping to drive engagement and build brand awareness through her creative and engaging content.
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