Millennials

The Sandwich Generation

Frank Diana Demographics, Societal Factors , , , , ,

A recent article describes a societal challenge that represents a major convergent force. I have portrayed this challenge as a shift in our traditional life segments – from four to five. Here is a summary of the article:

As we approach 2030, the world braces for a significant demographic shift. In the United State alone, 10,000 Americans will hit the age of 65 every day. This surge in the elderly population underscores a pressing global concern regarding our readiness to provide adequate elder care, a responsibility often shouldered by the adult children of aging parents. This phenomenon has coined the term “sandwich generation,” referring to individuals who find themselves simultaneously caring for elderly parents and raising their own children.

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The Great Wealth Transfer: Fact Or Fiction?

Frank Diana Demographics, Economics, Our Emerging Future, Societal Factors , , ,

In a post from 2019, I described what some were calling the greatest wealth transfer in history. I pointed to an  Article that positioned the next two decades in the United States as an unprecedented shift of demographics and finances. Baby Boomers were born between 1944 and 1964, and according to that article, this generation is expected to transfer $30 trillion in wealth to younger generations over the next many years: what some have called the “great wealth transfer.”

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The Fourth Turning Is Here

Frank Diana Books , , , , , , ,

Update July 19, 2024: since I posted this last year, the number of visits to this post and the original post has ramped considerably, signaling a resonance with the books message. As a result, I recently posted additional thoughts on the topic here.

I first read the book The Fourth Turning in 2019. I was struck by compelling evidence that describes the cycles of history, each lasting the length of human life. The cycle is made up of four turnings, each 20-25 years in duration. First comes a High, a period of confident expansion as a new order takes root after the old has been swept away. Next comes an Awakening, a time of spiritual exploration and rebellion against the now-established order. Then comes an Unraveling, an increasingly troubled era in which individualism triumphs over crumbling institutions. Last comes a Crisis—the Fourth Turning – when society passes through a great and perilous gate in history. Together, the four turnings comprise history’s seasonal rhythm of growth, maturation, entropy, and rebirth.

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The Aftermath: The Last Days Of The Baby Boom

Frank Diana Books , , , , , , ,

I finished reading my latest book titled The Aftermath: The Last Days of the Baby Boom and the Future of Power in America. I thoroughly enjoyed the book – and not just because I am a boomer. The baby boom began in the middle of 1946 and ended in 1964. The generation drove a rapid expansion of the population – over the 19-year period, 76 million babies were born.

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A Future Shaped By Generational Differences

Frank Diana Demographics, Societal Factors , , , , ,

Overall, in 2021, Gen X (anyone born from 1965 to 1980) spent the most money of any U.S. generation, with an average annual expenditure of $83,357

Preethi Lodha – How Americans Spend Their Money, By Generation
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Wall Street Is Going Green

Frank Diana Climate Change , , , , , , , , , ,

Wildfires burned nearly 10.4m acres across the US last year. The most costly thunderstorm in US history caused $7.5bn in damage across Illinois, Iowa, Nebraska and South Dakota. As the climate crisis swept the globe on a biblical scale it left in its wake a record number of billion-dollar disasters.

Dominic Rushe – Reading the writing on the wall: why Wall Street is acting on the climate crisis
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Societal Impact of the Millennial Generation

Frank Diana Societal Factors , , , , ,

A changing of the guard has been in motion for some time. In 2020, Millennials will be the dominant workforce on the planet. The five generations in our workforce introduce a leadership challenge, alongside disruptive forces swirling around society. Five GenerationsThe truth is that millennials are likely the generation tasked with solving this broad set of societal challenges. This recent Forbes Article says it well. The challenges likely facing this generation include: technologies like AI, shifting business models, the implications of near zero marginal cost, the resources of the planet, the nature of house ownership, transportation, healthcare, work, education and families.

Fundamental questions about Why and how we Educate will have to be addressed for the first time since the introduction of high school. Additionally, this generation will have to deal with an Aging Society. As Michael Gale – the author of the above article – describes, one in four millennials are already directly managing a parents’ ill health on a daily basis. The added burden of college debt could create additional obstacles to success.

There has been a negative stigma associated with this generation. However, they are not the problem but part of the solution. As 72% of the Global 2000 continue their digital transformation journey, millennials offer a perspective that helps realize intended outcomes. The Forbes Article describes five things that you can do to enable this –  take a look.

The Greatest Wealth Transfer in History

Frank Diana Societal Factors , ,

We spend so much time focused on disruption driven by advancement in science and technology – that we can lose sight of the massive amount of societal factors to be considered. When looking at the interplay between an exponential progression of innovation and those factors that impact society, we can see that the impacts run in Both Directions.

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Creating a Wellness Ecosystem

Frank Diana Ecosystems, Future Scenarios, Health , , , , ,

I am a firm believer that platform supported ecosystems will ultimately displace our current industry constructs. Given the uncertain nature of this transition, Future Thinking is a critical skill for any leader or organization to embrace. I have used the Driverless Car scenario as a way to describe future thinking and in this case, the progression towards a mobility ecosystem. I did a similar piece on Connected Health, which is likely the early manifestation of an emerging wellness ecosystem. This recent report on The Future Health Ecosystem provides a glimpse into the transition towards this wellness ecosystem. The author describes an expected shift of $1 trillion of the $3 trillion spent on healthcare to new players and business models; which could have devastating consequences for incumbents.

A Forbes article on this recent report looks at the major life transitions that the two largest generations in history are in the midst of – and the profound impact it will have on healthcare. Some of the very interesting findings – and clear drivers of a wellness ecosystem – are:

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