Editor's note: 9NEWS Mornings is touching on the stresses that tend to impact people within certain generations for our Generation Stressed week, Feb. 4-Feb. 8.
Generation X is often known as the "forgotten generation" and is characterized by the Pew Research Center as “America’s neglected middle child.”
Generation X is anyone born between the mid-1960s and early 1980s.
One reason for that is the demographic cohort follows the Baby Boomers and precedes the millennials. These two loud age groups are often pitted against each other, with Generation X in the middle.
Sarah Muntz, a member of Generation X, agrees with the Pew Research.
“I think that we are overlooked," Muntz said. “We were the first MTV generation. We were the first generation with video games. The cell phone came up when we were coming up . We were known for is being early adopters.”
According to the Pew Research report, Generation X is often overlooked since their attitudes on political and social issues are more conservative than Baby Boomers and more liberal than millennials.
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In 2010, when Pew Research asked adults of all ages if they thought their own generation was unique, about six-in-10 Boomers and millennials said yes.
Only about half of Gen Xers said the same. And even among those who did, there was very little consensus about why they are distinctive.
“I think they bring great energy and creativity and they bring a different perspective,” Muntz said.
When it comes to stress. Money tops this list for this generation. That’s according to a recent Franklin Temple Investment report that showed they are dealing with heavier workloads, paying the bills, and being stretched beyond their financial limits to save for retirement.
Kyle O’Dell, a financial expert and Managing Partner at Edge Rock Wealth Management, said he hears a similar story from his clients.
“They are trying to take care of their parents. They are in a spot where their employers didn’t help them out as previous generations. And their kids need more help than ever," O'Dell said. "So they have a ton of pressure on them.”
“Companies in the past would really entice you to come on-board cause they would provide a pension and a 401Ks and the matching on the 401K’s," O'Dell added. "That was a big incentive to come there and stay. And companies are not matching on their 401k’s anymore.”
Gen Xers are the most overlooked for promotion and have been the slowest to advance, according to a Global Leadership Forecast published by Development Dimensions International and CNBC. It found Gen X leaders on average had only 1.2 promotions in the past five years, significantly lower than their younger millennial counterparts and more senior baby boomers during the same time period.
“Gen X'er were the original latchkey kids. And they were often left to their own devices," said Dr. Lisa Marie Bobby, a licensed psychologist and career counselor. “There were some advantages to that parenting style. I do think that it created some personality differences that sets Gen Xers apart.”
Bobby said she is helping Generation X members find new career paths later in life after leaving jobs.
“I think there is a freelancer culture. Entrepreneurial culture. And just one job after another as opposed to embracing a home in an organization," Bobby said. “People entering the workforce in a time that may have been pre-tech or emerging tech needed to develop technological skill sets in order to stay relevant. Or they didn’t, so there is a little bit of a gap there.”
The Pew Research also found that Gen X are more likely to turn to alcohol and smoking to cope with stress compared to the other generations.
The verdict is still out whether Generation X will be included in the conversation with millennials, Baby Boomers, or Generation Z. Muntz said it’s about what will bring this age group happiness.
“What would make me happy as part of Gen X is the thing that would probably make any generation happy, financial security, meaningful work on some level, and knowing that my family is well and cared for," Muntz said.
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