this post was submitted on 25 Nov 2023
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I think the "younger generation" is making rational choices based on return on investment. You could choose to take risk or work hard but if the payoff isn't enough then obviously you can refuse to do it. So "laying flat" "quiet quitting" and all of this is actually a rational economic choice for many people. Nevermind that the way that the "older generation" got ahead was to practice exactly the same. The only difference being, the price of homes was much lower so you could get 10x or 100x return for the same amount of effort.
It's harder for younger people to make it work especially starting from 0 now. You also have to ignore the advice of well meaning but out of touch older people like buying only your dream home or a brand new detached home (now it's get any property at all and not waiting), ignore distractions like crypto alt coins or picking stocks (you have to invest in an S&P500 index fund but you can't make stock picks because that's gambling) and so on. The amount of knowledge required to succeed, the knowledge floor and decision floor if you will has gone up.
One wrong move won't ruin you, but ongoing bad decisions (every day you decide to keep all money in cash, delay buying any property, staying in the same job for too long because of fear, etc.) would compound and create extreme difficulty over the long run.