Generational Concerns About Milestones
There’s a significant worry among young adults aged 18 to 29 that they may not experience the same life milestones as those who came before them. If we don’t address this issue, it seems we might be witnessing a slow decline in Western civilization.
A recent Harvard IOP Youth Poll conducted in Spring 2025 reveals a disheartening reality: many young adults feel uncertain about achieving substantial wealth or homeownership, and fewer than before see having children as crucial to their future.
In fact, less than half of Americans under 35 believe they’ll have kids. That’s an existential concern for many.
The immediate response from older generations, particularly Boomers, is often to dismiss this sentiment with jokes about how Gen Z doesn’t fit traditional norms. However, they often overlook the impact they’ve had on our cultural and economic landscape, which has led to a disconnect regarding family values and mobility.
Traditionally, one of the hallmarks of being American was the ability to improve one’s financial condition compared to one’s parents. Yet, younger generations are now facing the grim reality that moving from low income to wealth is more challenging. The American Dream, it seems, hasn’t been passed down effectively from Boomers to those following.
This is explored through something called intergenerational income elasticity, which essentially looks at how much a person’s wealth is influenced by their parents’ income.
The idea of “pulling yourselves up by your bootstraps” feels empty to the young people surveyed, as the economic climate shaped by Boomers has made such aspirations nearly impossible.
Since around 1980, when Boomers took on more leadership roles, there’s been a noticeable decline in upward mobility. They made decisions that prioritized short-term benefits over long-term stability, leading to increased intergenerational income elasticity. Programs like Social Security and Medicaid, although important, have become burdensome for younger workers who struggle to save or invest.
In the 1990s, the focus shifted towards globalization, highlighted by President Bill Clinton signing NAFTA, which many now see harmed working-class Americans by outsourcing jobs. The Gramm-Leach-Bliley Act of 1999, which deregulated the banking industry, was initially well-received but ultimately contributed to economic instability, affecting wage growth and making home buying an unattainable dream for many young adults.
These choices were not just missed opportunities; they have ultimately led to a cultural crisis evident in the Harvard poll, reflecting a waning confidence in key life milestones like homeownership, love, and parenthood.
Many young adults feel they can’t surpass their parents’ economic status, observing financial security and homeownership as growing impossibilities. This contributes to a reduced interest in having children; 42 percent of young adults say they are barely getting by, creating a belief that financial security is necessary before considering parenthood. Only 48 percent view having children as important— the lowest recorded in the Harvard poll’s history— and just 46 percent are confident they will have kids.
The long-term decline in mobility, combined with cultural shifts that older generations allowed to develop, created a cycle that discourages the idea of legacy through children. Not every Boomer might endorse the changes of the sexual revolution or advancing feminism, yet the repercussions resonate in how they discuss the challenges of parenthood with younger generations.
Moreover, Boomers’ parenting often emphasized self-discovery over family, leading many young people to regard children as financial or emotional burdens.
As a Millennial with four children, I’ve encountered numerous Boomers questioning how we plan to support our family, often with undertones suggesting that children themselves are the problem. It can be frustrating, especially since our kids are quite well-mannered and not the noisy ones causing disturbances.
Interestingly, those Boomers who express admiration for our decisions tend to be the ones whose own children have chosen not to have kids or grappled with issues like infertility. This reflects a realization that viewing children negatively has repercussions, and many seek to break that cycle.
If someone doesn’t recognize how these negative perceptions impact younger generations, they may be missing the root of the issue. At its core, the Harvard poll suggests that Western society is slowly heading towards a crisis. The generations tasked with preserving our cultural and economic foundation have, in many ways, squandered it. We might only have a generation or two to shift this trend.
