Delayed Transition to Adulthood?
Delayed Financial Adulthood
Stats Canada is emphasizing that our children are becoming “Adults”, or acting like them later in life. What do they mean?
The study, published today in Canadian Social Trends, used census data from 1971 and 2001 to show how transitions have changed for individuals aged 18 to 34. (The study includes people in their early 30s in order to allow sufficient time to complete the transition to adulthood.)It found that overall, the transition to adulthood in 2001 was delayed and elongated compared with that in 1971. It took young adults longer to achieve their independence. They were leaving school later, staying longer in their parents’ home, entering the labour market later, and postponing conjugal unions and childbearing.
Interesting from a financial point of view also. If all of this is delayed, are they going to delay retirement too? Are their kids going to hang around as well and be a financial burden on them later in life?
My opinion is that this is suggesting that the normal “model” for financial planning is officially “out dated” because how a person lives their lives is now changing as well. With this in mind, I give you some humorous advice from Stephen Colbert, for these hesitant Adults!
Humor: Advice for Future Graduates
More on this topic
(What's this?)
The Best Banks In North America Probably Aren’t Where You Think
(Investment U, 2/25/10)
Housing heating up in Canada
(What can I do with 10 grand?, 2/8/10)
Your Humble Blogger is on Business News Network
(naked capitalism, 1/16/10)
Two Olympic Investments in Canada
(Jutia Group, 2/19/10)
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