I was reading this interesting article today about how a lot of generation Y people are having a harder time financially compared to the previous generation. Interestingly enough, some of the universal points were factors such as people going to school for lengthy degrees whereas in previous generations people would start working full time jobs a lot earlier with less education. At the same time, a lot of companies nowadays increase its bottom line by constantly hiring people as contractors to avoid having to pay people benefits.
While it all sounded kind of gloomy, I was thinking how at the same time a generation Y has so much more business opportunities to generate an income compared to the previous generation. In a sense, you can earn the same if not more. The key I think is that you can’t think and do things exactly the way people in the past perceive as the “right way” when it comes to generating an income.
For example, I highly doubt that my parents had the flexibility to generate an online income where with things like an e-commerce site you could easily have a self functioning business of sort that will keep working while you are sleeping. But with the obstacles that a generation Y person like myself must go through then maybe it’s necessary to venture into things like this.
Even thinking of a funny example, how easy was it way back where someone could self publish a rant video that could generate a respectable income source? Probably not as easy as it is today. At the same time, I personally believe people should get more in-tune with opportunities like these as in the past I am pretty sure people would say if you want to make money during school then go to that fast food restaurant or do that paper route. Nowadays, I personally think it’s more entrepreneurial where if you aren’t making enough money then you need to take advantage of the opportunities and resources we have today to create something out of it.