Do You Really Need It?

Well I have realized that the previous article I wrote about was not the correct type of journal to be used for the assignment. So I continued to search some more and found a journal! Finally!

Anyways, it is called 'Journal of Financial Planning'. For the first article I decided to take a look at, was titled Necessity or Luxury. A little sidenote, titles play a huge role in what i decided to read. If it sounds interesting I am more likely to take a look. Well this article was determining the difference between needs and luxuries for the Baby Boomers generation. This generation is consider anyone born post World War II. This generation has chagned what used to be considered neccesities of life. It used to be food, water, shelter, and clothing. Now it is healthcare coverage, internet connection, special occasion gifts, family vacations, elder care, hair appointments, and kids' education.

In order to have these things, this generation has mentioned that they would delay their retirement or share their retirement money in order to have these needs. From the list above would you do that?

The article predicts that it may all one day become a need just like food, water, clothing, and shelter.

I think the only things I would dip into my retirement for if absolutely needed is health coverage, internet, and my kids education. The other things aren't a need for me. I think it's crazy how generations evolve their needs and wants over time. I wonder what it would be in years to come.