Northern X-posure - Canadian Generation Xers profiled

American Demographics, Dec, 1997 by Matthew Klein

Many Generation X stereotypes fall flat when applied to Canadian young adults. The Nexus Generation described by the Royal Bank of Canada is as satisfied as baby boomers with life in general and is optimistic about the future.

In its studies of 18-to-35-year-olds, the bank does not reveal the lost and confused young adults often depicted. Forty-one percent of the generation it refers to as the nexus, or link, between the present and the future are completely or very satisfied with the quality of their lives, compared with 40 percent of Canadian baby boomers. Forty percent strongly agree they will be financially better off than their parents, and 45 percent strongly agree they will meet or exceed their career expectations. Most are now parents themselves, and half strongly agree that their own children will do even better than they plan to.

How do they plan to make their way to this future? Many want to do it on their own. Almost one-third expect to be self-employed in five years, and 32 percent rank entrepreneurship as their most desirable profession. Twenty-eight percent think being a filmmaker, artist, or musician is ideal, followed by 27 percent who dream of being an executive at a large company. Motivations other than money may be at work here. When asked if they are only working for the money and dont care about their career, 63 percent of respondents who work full-time strongly disagree.

A desire for fulfillment does not necessarily mean money is optional, though. Twenty-four percent of Canadians in the Nexus generation are very dissatisfied with their level of disposable income, compared with 11 percent who are very satisfied. Likewise, 34 percent think their long-term savings is the pits, while 10 percent are happy with their nest egg.

For more information, call (800) 582-3617 or visit www.royalbank.com. Matthew Klein