Baby boomers vs Millennials

[Colin10101]

Honestly, just think about where you were in your mid 20s. If you already had the disposable income to be buying sports cars then great, you were in the minority. But most milllenials I know (and that’s a lot, since I’m in my late 20s) are still sorting their lives out and saving to buy a home or focusing on career development. I’m sure there is some generational drop in interest in cars like mustangs, but I’d say it’s mostly just because as a generation we’re all trying to buy homes, have kids, and in general don’t have a ton of disposable income.

[joeychitwood]

I don't think it's just car clubs. Numerous organizations I'm currently involved with now or have been in the past struggle to bring new young people into membership. Charities, volunteer ambulance services and fire departments, the ski patrol, churches, service clubs, community organizations, photo clubs and social organizations cannot get younger people to commit to membership. In this region, hunting, fishing, hiking and other outdoor activities are slowly in decline due to lack of new participants. It seems that "Millenials" aren't joiners. It's a different mindset. It's not right or wrong, it's just how things are today.

[Valenciawatchrepair]

Originally Posted by joeychitwood

I don't think it's just car clubs. Numerous organizations I'm currently involved with now or have been in the past struggle to bring new young people into membership. Charities, volunteer ambulance services and fire departments, the ski patrol, churches, service clubs, community organizations, photo clubs and social organizations cannot get younger people to commit to membership. In this region, hunting, fishing, hiking and other outdoor activities are slowly in decline due to lack of new participants. It seems that "Millenials" aren't joiners. It's a different mindset. It's not right or wrong, it's just how things are today.

I've seen this as well. Forums that were buzzing with traffic years ago, are almost ghost towns now. Or shut down altogether.

[77T]

Originally Posted by joeychitwood

I don't think it's just car clubs. Numerous organizations I'm currently involved with now or have been in the past struggle to bring new young people into membership.

I tend to agree -
Research that cuts across various millennial demographics points out that “joining” isn’t a prime motivator for engagement.

So in the OP’s case, there are probably just as many millennial lovers of vintage Mustangs as prior generations, but they may not want to be in a club. The challenge for clubs is to “change or die”.

If you research FB posts of vintage mustang pics, posts, likes, shares, etc. then you can see what else they are doing with their free time. Our club saw the same issue a decade ago while we also battled the recession. Even long time members had less $$$ to go racing. But millennials were willing to get an “experiential” thrill at a cost.

We are now getting better millennial engagement by hosting events aimed at them without asking for anything more than their money - communicate via social media and bang, they show up.

They’ll never join but we’ve learned not to expect that. Instead of the club relying on membership dues we’re funding operations via profit from events where they’ll trade $$$ for fun. And sure there’s a good deal of churn but that’s a macro trend for all of us, don’t you think?

They WILL come for fun - but sitting in meetings isn’t their idea of fun. No surprise there - I’m a Boomer and don’t like meetings either.


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[gmh1013]

Originally Posted by joeychitwood

I don't think it's just car clubs. Numerous organizations I'm currently involved with now or have been in the past struggle to bring new young people into membership. Charities, volunteer ambulance services and fire departments, the ski patrol, churches, service clubs, community organizations, photo clubs and social organizations cannot get younger people to commit to membership. In this region, hunting, fishing, hiking and other outdoor activities are slowly in decline due to lack of new participants. It seems that "Millenials" aren't joiners. It's a different mindset. It's not right or wrong, it's just how things are today.

When i think about this its very true....im going to point this out at next meeting....no matter how hard they try Its going to be the BB generation and when we are gone it over.
Im 61 and the only "one ' i know is my wife's grandson who turns 30 in March.
He just got his first GF 6 months ago....but still they stay home and play video games all night and on their days off. He drives a used Yaris cheapest car he could get....dont forget the smoking dope too. Its a generation i will never "get"
IMHO he is totally unmotivated ....but seem to take his job in IT with intense focus...plus could care less about outward appearance...when I was in early thirties I spent lots of money on clothes and drove a BMW 325 back in 1990....when i was a VAX and Sun programmer.
Times HAVE changed in the past 30 years....if I would have showed up for work looking like Kyle does...long hair... has not shaved in weeks... tore up blue jeans and a t-shirt...i would have been sent home with no pay at Fina oil and chem in Dallas.
But his job in IT security at Host Gator in Houston could care less what you look like I guess....its a company run by a 42 year old.

[Blansky]

The internet and cell phones changed everything.

If we want to categorize things it maybe should be pre cell phone/internet and post cell phone/internet.

[Fleetlord]

Originally Posted by Blansky

The internet and cell phones changed everything.

If we want to categorize things it maybe should be pre cell phone/internet and post cell phone/internet.

That is very true.

From a social standpoint, there is very little reason to actually physically meet anyone, well besides the obvious...lol.. But otherwise, nah. Just snapsie or whatever. It's cool...

The youths of today have only known this, so they don't see a need for transportation as we think of it.

[strettyend]

I think its dependent on where the millennials of today live. The last 20 years has seen incredible growth in both urban cores and the increasingly dense suburbs that surround them. This is where the jobs are and also where it tends to be the most expensive to live. With the advent of the sharing economy and apps like Uber, Lyft, DoorDash, Seamless, etc. it has become increasing unnecessary to own a vehicle in the locations where millennials can find jobs and want to live. They also tend to value experiences like travel more than inanimate objects (and sharing those experiences with friends), and cars and driving just don't really check the mark for them.

I am 30 years old so I guess I fall in the millennial bucket but I have always been drawn to cars and machinery. I learned to read from browsing the latest Motor Trend or Car & Driver that my dad would bring home as well as Popular Mechanics. I have always questioned how everything works and loved all things mechanical - reading on my own about mathematics and physics to better understand things.

I lusted over cars and would dream up scenarios and perform hours of cost benefit analysis in my head at way too young of an age of what cars I would have in my garage at certain budgets if I ever made it there. I never had a car in high school because my parents couldn't afford it and I didn't have one in college because I went to school in a city but I always maintained those dreams and I'm sure I subconsciously chose my current career path to give me the best chance to own the cars I dreamt of when I was 8 years old. I moved across the river to Jersey so I could buy and store cars more easily once I achieved the necessary income. But I am a car nut and I can understand why someone wouldn't want to go through the headache of car ownership in a city or dense suburban area.

[Blansky]

The strange thing is, the people that complain about "these kids today" are the same people generally that brought them up, or brought up their parents.

So I guess WE did this.

But like I said previously, the internet/computers changed everything. Literally EVERYTHING.

So people who only knew that dominating part of life have far different life experience and attitudes than people before computers.

Also mass consumerism wasn't a thing when I was growing up. It also changed a lot of things.

[Wahlberg]

Originally Posted by Blansky

The strange thing is, the people that complain about "these kids today" are the same people generally that brought them up, or brought up their parent

So I guess WE did this.

Thank you.


Regarding cars, in Europe it's all about downsizing (big engine cars were never popular because they are expensive to buy, to maintain, to drive/fill up, to even get them on the road).

The children growing up nowadays who are 5 years old and the ones up to 15 are all being told that big engines are bad, electric cars are the future etc. And this mindset is instilled by the older generations and the government punishes you for buying these (old) cars. So why would they waste money on them?

So go figure why they aren't interested in the things you and I grew up with. They never knew it, they've never seen it so they don't care about it.

[Blacktocomm]

I am a millennial and I LOVE cars and watches, but I don't buy them. I drive a CR-V and wear a Tudor BBN instead. My wife and I both have advanced degrees and work in management for F500 companies, but we have decided that we could retire at ~40 and take hobby jobs, or we could grind away life at a corporate high stress job. And neither of us wants that. So instead of buying a Rolex (or a Patek 5396 which is the real dream right now) I tuck that money away into investments.

We have a lot of millennial friends who all make Hodinkee Reader money and then some, but live frugal lives driving a 20 year old Lexus/Hondas while putting 10k or more a month away towards retirement. It is all about where you find value, and I sure find value in watches and cars, but at the moment I would rather buy my own time after 40 instead of buying a Mustang or a Patek.

[2ltdjorn]

Can someone be transgenerational? I am a millennial as defined, but associate more with the "silent" generation. I guess I have a fluid interpretation about the constraints of my label.

[joeychitwood]

Experiences are great, but they don't help much if a guy wants to retire early.

[Blacktocomm]

Originally Posted by joeychitwood

Experiences are great, but they don't help much if a guy wants to retire early.

If you budget wisely you can do both, but I think a lot of people are just unwilling to set and live by a budget in order to reach their goals.

[joeychitwood]

Originally Posted by Blacktocomm

If you budget wisely you can do both, but I think a lot of people are just unwilling to set and live by a budget in order to reach their goals.

Absolutely true. I have friends, Baby Boomers, who have basically no money set aside for retirement.

[beshannon]

Originally Posted by joeychitwood

Absolutely true. I have friends, Baby Boomers, who have basically no money set aside for retirement.

I know far too many people like that

They do however have the latest iPhone and lease a new car every three years

[Blacktocomm]

Originally Posted by joeychitwood

Absolutely true. I have friends, Baby Boomers, who have basically no money set aside for retirement.

Thank goodness they are close to being able to contribute the extra 6k a year to catch up on retirement...

[CAM29]

Millennial and a car enthusiast checking in.

Very valid points that have already been mentioned:

1. Student loan debt
2. Low wages/cant afford a new car
3. We see cars as just transportation

One major thing that has yet to be mentioned is image.
In all the major cities that I've been in, Millennials are after status that a Mustang can't deliver. We want BMWs, Audis, Mercedes.. etc. I don't know anyone that wants a new Mustang.

For those after performance and not the image, I see people with the Nissan Z coupe, Honda Civics, Subaru Sti, etc. Though not a performance car, the Jeep Wrangler is very popular too.

I notice cars like the Mustang, Charger, Camaro, Challenger being popular with certain types of people. I see them all over towns with military bases.

At the end of the day, Millennials who are in the market for a sports car just buy(lease) a 4 series.

[teabags001]

I’m 36 and don’t take this the wrong way but I don’t think the younger generations. The ones younger then I appreciate vintage things. They like new things that look old. If that makes any sense. I personally love and drive porches. I’d rather drive that then a 1960’s mustang at this point of my life.


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[SearChart]

I'm not sure the car thing can be generalized so much, driving stick is very common in Europe and most kids still learn it today.
All guys I know from my age (24) love cars, sure we don't have money to buy the cool stuff, but still.

High petrol costs (€1.60 ish per liter), very high tax on high powered, heavy and polluting cars. Makes it near impossible for regular folks to buy something with a nice V8, the government just forces you into small economical vehicles to hit their emission goals.

And student debt is also very much country related, you rarely hear about these massive debts in my country (Netherlands) and Scandinavian countries since college and university are heavily subsidized according to income and parents income.

I for one have 0 debt, just out of college, have a good job and am currently able to save about €2k a month, and I'm definitely not the only one.

[ironmanmarcus]

OK so they like different things, big deal.
Maybe they don't want cars that guzzle the fuel and continue to damage the environment. Maybe they object to the high prices.
You are asking why someone of a generation or 2 away doesn't want to pay half a year salary, if they are lucky, to buy a car and join a club.
They just like/want different things.

Remember when your parents said rock music was the work of the Devil?

[joeychitwood]

"The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs, and tyrannize their teachers."

Seems that criticizing subsequent generations isn't new. Attributed to Socrates by Plato about the younger generation.

[Valenciawatchrepair]

Originally Posted by joeychitwood

"The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs, and tyrannize their teachers."

Seems that criticizing subsequent generations isn't new. Attributed to Socrates by Plato about the younger generation.

Such true words. But, within those words also shows the root of the problem. The parents that don't raise them properly.

[dwatcher]

i know some millennials who are doing pretty well. Progressing in their disciplines, buying homes and planning to start a family. Also love classic and modern cars including on and offroad race cars.

[tudorbaja27]

Originally Posted by dwatcher

i know some millennials who are doing pretty well. Progressing in their disciplines, buying homes and planning to start a family. Also love classic and modern cars including on and offroad race cars.

I would imagine one's definition of "doing well" is relatively subjective. I have no plans to buy a home or start a family, and yet think I'm doing pretty damn well

[ltmgeller]

I think the problem is they have been raised in a generation where everything is disposable. The appreciation for material things isn't there anymore, generally speaking.

[encarter13]

32 years old here...Does that make me a millennial? I do not fall into any of the generalizations here, but I am a mixture of several.

Regarding cars - I love cars! I mean really LOVE cars. However, I do not really have any interest in a Mustang, Camero, etc. I prefer Porsche, BMW, Mercedes, Ferrari, etc.

I love trucks, but I am very much a F150 guy. Jeeps are great too, but only Wranglers and Grand Cherokees.

Regarding money and homes - I diligently save for retirement and invest well. I have never rented a house or apartment. I have made a few good real estate purchases.

Regarding experiences - I refuse to ride in basic economy. I always fly Delta Comfort or First Class. I enjoy vacations, but I do not go nearly as often as my friends.


Other thoughts:

I could not wait to get my drivers license. The younger people that are not into driving blow my mind.

I think I could live in a tiny home, if my wife would go for it.

I would rather have 15 watches and a fleet of nice cars than a big house. Give me a huge garage with an apartment over the top and I would be a happy man. Even happier, if the garage was a hangar and my airplane was parked in there.

Avocado Toast is stupid

I spend too much on expensive wine, craft beer, and fancy cocktails.

[airchitect]

I can rant forever about millennials vs boomers (ie their parents). But at the end of the day, with millennials it generally isnt about lazy or entitled (though it’s always funny to hear the boomers who told these kids their voices should always be heard complain because the systems they’ve established have pretty much screwed an entire generation). Instead most millennials can’t find a job that earns over 45-50k a year degree or not. They cannot afford a 250k house. A mid level Camry runs 32k now. Etc etc. As a whole, they place more value on family time, freedom to explore their passions, dont much care for their parents status symbols, etc... it’s no different than boomers vs the greatest generation (ie millennials grand parents) who lived through world wars, pinched pennies, and scoffed at $50 steaks at Morton’s.....

[Thug]

i wish I was able to get a house for 250k in nyc.

[joeychitwood]

I think the biggest hurdle faced by any young person coming out of college and looking for a job is trying to deal with six figure student loan debt. Leaving college with no assets and owing $250,000 is a difficult way to start a career or job.

I recall thinking I could never afford to quit medical school once my student loan debt hit $8,000.