Recession and Lifestyle Change in Older and Younger Pops.

[blueshard]

Do you guys think that older or younger generations are changing their lifestyle more because of the recession.

The only thing I found on the net was this:

A USA TODAY/Gallup survey conducted in early November found that only 32% of Americans are saving more as a result of the economic downturn. But the figures for young adults were much higher. Forty-four percent of Americans ages 18 to 29, and 39% of Americans ages 30 to 49 said they're saving more.

from http://www.usatoday.com/money/economy/2008-11-30-money-downturn-savings_N.htm

 

[casperz]

I know a lot of forty something guys that are thinking about retirement in 15-20 years that
have cut way back on lifestyle, myself included to some extent. The problem that I see
is not that I cannot afford to live the same lifestyle now, it's the uncertainty of the
future and it makes more sense to save now while you still have an surplus instead of
waiting till things get really bad. Get a lot of people are doing the same thing at the same time
and it just starts to feed on itself.

I also know a lot of 20 something guys that have not been through downturns and they
just don't know what it's like and so they are living as usual if they still have a job
from what I can tell.

I would say the older you are the more you have cut back.