As a 30-something professional, I often get irritated at the ire that the term “millennial” brings out in conversation. There have been many times in my life when I was told by others that millennials were lazy people who live at home with their parents and want everything handed to them. As a living, breathing millennial, I can tell you that the stereotypes of my generation are not true. Many that I know work extremely hard to overcome issues like crippling school debt. Several chose to or had to postpone marriage or starting a family to build a sustainable career, home, and relationship. Now as millennials start to edge in on their mid-thirties and near forty, many have finally found the time and ability to have children and have the financial ability to build their homes.
According to an article by Investopedia, Millennials have faced many challenges when it comes to building a home like the exorbitant cost of college, getting married later in life or having a partner that is unable to contribute to housing costs due to student debt, and the big one the cost of housing has risen sharply in recent decades.
In true millennial fashion, we are forging our own unique path into parenthood and raising children. A recent Pew Research Study highlights that this age group is the largest, most ethnically and racially diverse group with the highest rates of educational attainment. It also shares that millennials are much less likely to be living with a family of their own than previous generations. In 2019, 55% of Millennials lived in this type of family unit. This compares with 66% of Gen Xers in 2003, 69% of Boomers in 1987, and 85% of members of the Silent Generation in 1968.
A majority of Millennials are not currently married, marking a significant change from past generations. Only 44% of Millennials were married in 2019, compared with 53% of Gen Xers, 61% of Boomers, and 81% of Silents at a comparable age. They are getting married later in life than previous generations. The median age at first marriage has edged up gradually in recent decades. In 2019, the average man first got married at age 30, and the average woman was 28 when she first wed. This is three years later – for both men and women – than in 2003, four years later than in 1987, and seven years later than in 1968.
With parenthood and marriage looking so much different for Millennials than for past generations, it’s no wonder that those in our 30’s and 40’s are looking for new and innovative ways to use technology to help us with things like childcare. Flexable childcare is the perfect way to combine Millenial’s love and innate knowledge of technology with their needs for assistance in childcare. With this age group making up the largest percentage of the American workforce today, it may be time to consider adding Flexable to your benefits package.
Written by Mackenzie Farone or MF Digital Marketing Consulting