It's truly amazing how much lifestyle expectations have changed.
I had low lifestyle expectations where moving out from my parent's house after graduation with a degree in engineer and starting my first job with a Fortune 25 company. I did not expect to have a lifestyle equal to my parents until my 30s.
My first car after graduating from college was a 1967 Buick Skylark that was a 13 year hand me down. Basic transportation, automatic transmission, radio and no A/C. I drove it for 2 years before buying a new car. Even then, the new car was minimal with manual transmission, radio and with A/C.
My first apartment was a 1 bedroom with A/C. The kitchen was basis with a stove, oven, refrigeration, and Formica counter top. No microwave, dishwasher nor garbage disposal. Communal washer and dryer.. My parents gave me a 20 year old furniture, my bed and a 10 year old TV. My dining table was a card table. The only amenity was an outdoor pool that I never used.
My main entertainment was playing on a local club rugby team.
Fast forward 45 years. College graduates have much higher lifestyle expectations. They live in student housing that had more features and amenities than my first apartment. They have much nicer cars that my first car. After graduations, they choose apartments with full kitchens that have stone countertops, fully loaded new cars, and houses with more amenities than their parents' current house.
Entertainment is endless ranging from social media and gaming to local activities and major vacations.
What's next?
We now envision having self driving cars for transportation and robots to do our household labor. Truly amazing. Some even forecast the elimination of employment for pay, which I believe is highly unlikely.
This is not financial advice. Please consult a professional advisor.
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