The younger generation are ticking off life’s ‘to-do’ list an average of three years earlier than their parents, a survey has revealed. The detailed study found the typical 20-something is ahead of their parents in nine of sixteen major milestones.
A first holiday abroad without mom and dad saw the biggest gulf – eight years – while the younger generation also pass their driving tests and buy cars earlier, alongside securing relevant qualifications quicker.
On top of that they will move in with a partner sooner than their parents did and surprisingly even buy a home earlier than mom and dad.
The landmarks to which they were beaten by mom and dad were likely to be starting a relationship (by a year), starting a full and/or part-time job (by five years) and tying the knot (by four years).
The ages were the same for moving out of mom and dad’s house and having a first child.
Kerry Chilvers of Direct Line, which carried out the research among over 2000 adults, commented:
”Our research has shown what’s really important to people and how this has shifted across the generations.
”It’s exciting to see that whilst many things, such as marriage and having a child, remain incredibly important the influence of technology has created an entire new set of milestones that are often achieved digitally.
”Despite the fact that we are achieving traditional milestones later in life such as having children and getting married, the research has shown them to be our most important priority.”
The study found typically the younger generation will travel abroad for the first time at 13, six years before their parents did the same.
They will however embark on their first relationship one year later, at 13 rather than 12, and they will also take up their first part-time job anything up to five years later than mom and dad.
Passing a driving test is likely to be ticked off two years earlier at the age of 20, while they will be able to buy a car three years earlier.
Holidaying abroad alone is another milestone which the youngsters will reach before their parents, as was owning a designer handbag- the youngsters managed to tick this off a staggering 17 years before mom.
The ages were the same in moving out of mom and dad’s house (21) and having a baby (25).
The research also revealed that passing the driving test is considered the biggest milestone, followed by having a baby and getting married.
Technology is also playing an increasing role in modern life, as one in four 20 to 30 year olds said owning their first mobile phone was a major milestone for them.
Kerry continued:
”It’s interesting to see that we seem to be delaying when we achieve many of these key life moments due to modern factors such as higher education and our focus on careers.
”Time is a key factor to us moving forwards through these moments, lots of spare time not only helps us achieve our goals but is also seen as a key aspiration.”
The research also highlighted a steadily diminishing savings culture, with sensible older generations placing much higher importance on setting up a savings account or pension.
Just 45% of the 20 to 29 year olds considered this an important milestone compared to 66% of the over 60s.
MILESTONESAGE ACHIEVED (UNDER 40s)AGE ACHIEVED (OVER 40s)
Travelling abroad for first time1319
First boyfriend/girlfriend1312
First part-time/saturday job or paper round149
First alcoholic drink1717
Owned a designer handbag2239
Started pension or savings account1517
Passed driving test2022
Bought a car2124
Holidayed without mom or dad1624
Secured relevant qualifications2025
Started first job2019
Moved out of parents house2121
Moved in with partner2326
Married2824
Bought first home2527
Had baby2525
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