
Are baby boomers’ zest for advancement different than Gen Z?
Those who have started businesses, often did so later in their careers, after gaining experience and capital. While Boomers have adapted to technology, they often did not grow up with it

Yes, there are notable differences between Generation Z (born approximately from the mid-1990s to the early 2010s) and Baby Boomers (born approximately from 1946 to 1964) regarding their drive for commercial advancement and wealth generation. These differences stem from various factors, including economic conditions, cultural influences, technological advancements and societal stress. It is interesting to list a number of notable differences. For a start, Baby Boomers came of age during a time of post-World War II economic expansion, characterized by jobless queues, rigid markets and the rise of the middle class.
They tend to value hard work, be loyal to employers, and aim for a linear career progression. They often see wealth generation as a reward for dedication and perseverance in their careers. Some Boomers benefited from traditional career paths that offered job security and opportunities for advancement, often leading to significant wealth accumulation over their lifetimes. While some Boomers, have pursued entrepreneurship, many have followed more conventional career paths.
Those who have started businesses, often did so later in their careers, after gaining experience and capital. While Boomers have adapted to technology, they often did not grow up with it. Their approach to business and wealth generation may be influenced by traditional methods and practices. Today, adults are more likely to participate in the culture of casual encounters and unprotected sex, which might be further encouraged by the availability of drugs for sexual dysfunction, living together in luxury retirement homes.
Not all are rich, but in aggregate they have amassed wealth, owing to a combination of falling interest rates, a strong propensity to save, invest in a house and thrive for strong earnings. Not all are rich, but in aggregate they have amassed some wealth, owing to a combination of falling interest rates, strong earnings and frugal living.
In some ways, Gen Z-ers are unusual. They are less likely to drink, have sex, be in a relationship—indeed to do anything exciting. In contrast, adolescent cohorts, nowadays are marked by mostly low crime-involvement. However, they are wary of the potential longer-term effects of crime opportunities, particularly those facilitated by the internet, such as fraud, drugs, online harassment and bullying.
In contrast, Gen Z has grown up in a more uncertain economic environment, marked by events such as the Great Recession (2007-2009) and the COVID-19 pandemic. This has led to a more cautious approach to financial matters, with many individuals prioritizing job stability and work-life balance over traditional wealth accumulation. One may observe how Boomers were often characterized by a strong entrepreneurial spirit, with many eager to start their own businesses or engage in side adventures from an early age.
The rise of digital platforms, venture capital and social media has made it easier for Gen Z, to launch ventures and monetize their skills and passions. The latter seek careers, that align with their values, such as sustainability, social justice, and innovation. They may be less focused on traditional wealth accumulation and more interested in making a difference in the world.
They are more comfortable with online business models, e-commerce and digital marketing, which studies show they can facilitate innovative approaches to wealth generation. One predominant distinction in Gen Z, is their zeal to place a high value on work-life balance and mental health. They are more likely to seek flexible work arrangements and prioritize personal well-being over traditional notions of success. They favour working a four-day week to gain three days of leisure and relaxation in a week.
This generation is more open to alternative investment opportunities, including cryptocurrencies and socially responsible investing. They tend to be more willing to explore innovative financial products and technologies. They often demand that businesses operate ethically and sustainably. Gen Z, are more likely to support companies that prioritize social responsibility and may choose to invest in or work pro bono, for organizations that align with their values. Naturally unbridled generalizations are not recommended - so it is important to approach generational characteristics with caution.
One cannot omit to mention, how baby boomers grew up during a time of significant social change, including the civil rights movement and the rise of counterculture. These experiences may have shaped their attitudes toward authority, risk and social norms. In Malta, during the sixties and seventies unemployment was relatively high and some workers sought to emigrate to secure better living conditions in Canada, New York, Australia and Britain. This pioneering spirit has resulted in many Maltese who emigrated to settle well in new countries and on average have secured good jobs leading to accumulated wealth - some wisely investing in property. It's crucial to remember that within the two distinct generations, there is a wide range of behaviours and attitudes. A few got carried away with sudden wealth and frittered it away on reckless indulgences.
Next. the perception of risk can vary significantly between baby boomers and younger generations, influenced by a variety of factors including cultural context, life experiences and societal changes. Many baby boomers in America and Northern Europe grew up during a time of economic prosperity and consequently have a more optimistic view of financial markets. They might be more willing to invest in traditional assets like real estate or gold stocks, often valuing long-term stability. They often make career decisions based on their family situation. For instance, they may choose stable, secure jobs that provide health benefits and retirement plans, even if those jobs do not align perfectly with their personal ambitions.
This reflects a desire to ensure financial security for their families. Effective time management is crucial for baby boomers as they juggle personal ambitions and family responsibilities. Many develop strong organizational skills to allocate time for work, family activities and personal pursuits, often creating schedules that accommodate both. Baby boomers do try to integrate their personal ambitions with family activities. For example, they might involve family members in hobbies or projects that align with their interests, allowing them to pursue personal goals while spending time with loved ones. In summary, change is the constant among the two generations.
Notice how in 2022, younger Australians are drinking at less risky levels, yet there’s been a significant increase in risky drinking by older Australians” reported the Alcohol and Drug Foundation, an Australian charity. Such societal quirks have led to a societal shift that reveals how older Australians are now more likely to drink at dangerous levels than younger people in general. Young people today are less likely to form relationships than those of yesteryear. They are more likely to be depressed at work or in extreme, some lament they were assigned the wrong sex at birth.