WEALTH WATCH
STEPHEN CRANSTON: Discovery’s efforts not wasted on young, reckless travellers
Are we really supposed to believe millennials behave any differently from the way we all did at their age? George Bernard Shaw said youth is wasted on the young, and it is still true. According to Discovery, even the word "millennial" doesn’t quite convey the special characteristics of the generation born between 1982 and 1996. It talks of Marouns, which I assumed to be the nickname of one of the more obscure World Cup teams. In fact it stands for "millennials at risk of underinsurance", a phenomenon that is keeping hundreds of actuaries employed — even though it is nothing new. A lot was written about my generation, the baby boomers, and the "generation gap" with our parents. We were considered unique, the generation who wanted it all, material and family success. We were the first generation in which women rose to senior positions in the professions and business. We like to think our iconic moments, such as the Woodstock music festival, were unprecedented and will never be repeate...
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