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Creating Financial Resources for Millenials

THE DIGITAL WORLD OF ECONOMICS

For the MILLENNIALS, it is a matter of time for them to come into their own world. It was this way for my generation, my parents’ generation and every generation before. We have the “Y” generation and “X” generation sometimes we refer to the “Centennials” or the “Millennials” but whatever the label, everything boils down to turning the reins over to the next generation.

Since I am a part of the BABY BOOMERS, I have seen a lot of change. I remember taking my passbook to the bank so the teller can stamp the confirmation when I made my deposit. (I also remember earning 5% interest with that savings account!!!) We went from there to conducting our banking on the Internet. 

While the Baby Boomers like me struggle with an online website or document on our PC or MAC, the Millennials are listening to their favorite tunes with their bluetooth earpiece, checking their bank balances and surfing Facebook with that computer on their wrist. Many Millennials don’t own a computer because their iPhone or Galaxy does everything they need in the palm of their hand.

I knew I would be hit with the questions and I dreaded it when the time arrived. It came from one of my sons’ friends. 

HOW TO USE BITCOIN TO DEVELOP RESIDUAL INCOME

Many years ago, I used to read stories about growing generational wealth. Way back, wealth was developed in a family over the course of 3 generations. As time passed, it could be done in one generation. Then it was beginning to be developed in 5-20 years. With the dot.com boom, we saw wealth develop in months, not years.

I stopped reading books recently because by the time information was printed and published, it was outdated. I began reading articles on the Internet and watching videos as my main source of up to date information. Sometimes if it was more than a year old, I wouldn’t review it because it was obsolete information. 

Developing Residual Income has been a concept that has been accepted as motivation for online businesses. I was asked: HOW TO USE BITCOIN TO DEVELOP RESIDUAL INCOME. I was taken by surprise but not really. The real surprise for me is that I (a Baby Boomer) was being asked by a Millennial a question that I feel is very much more a part of his world than mine! (I guess I’m a little ahead of my time!)

I joined a company many years ago (COMPUMATRIX), way before BITCOIN and we were heading down this road. (Way back then) You see, BITCOIN changes everything and levels the playing field. 

I read in a comic strip where this little girl was asking her grandmother those “when you were a kid” questions: did you have TWITTER, TEXTING, FACEBOOK, SNAPCHAT, etc. When the grandmother answered no to all of these questions, the little girl asked: How did you communicate!

I look at the little girl as the MILLENNIAL and the grand mother as the BABY BOOMER. However, in my case, I’m teaching the Millennial information from “his world” because I kept my head in the game.

COMPUMATRIX will bring a new twist for BITCOIN AND CRYPTO CURRENCIES and 

WE ARE RIGHT AROUND THE CORNER!

About the author

Stephen Sampson is among the founding members of the Compumatrix Bloggers' Network and writes various topics about life and business.

Comments

  1. One thing about “Millenials” or the “Generation-X” or “Y” or whatever you call them, they catch on a whole lot faster than we do! It’s like they were born with a brain geared to understand Cryptos, Blockchain, Blogging, and anything to do with such. Even if they are brand new to Compumatrix, you introduce the concept and the system to them then just step back because they “Got This.” It is poetry in motion! It certainly makes me smile to see them in action!

    1. Gail, you are right about them catching on much faster to the concept of cryptocurrency than Baby Boomers do, as a rule, but on the flip side of that I have found they tend to lack patience. My comment is anecdotal but my experience so far has been that for all their technical prowess they tend to lose faith in the long term projects that I have involved them in. They gave up easily when things didn’t work out quickly. Of course I must point out again that this is anecdotal. Perhaps I was just working with the wrong Milenials… lol

  2. Stephen you make a good point here. I think there is an exciting challenge to bring the new generation on board, but they will flock in because they understand the Crypto concept as easily as they do the internet.
    The bigger challenge is the Baby Boomer generation. Many of our generation have let go of keeping up with the internet world. Those who know how, will slowly help them catch up, they are just as important.

  3. The piece of the puzzle that is missing here is the “Millennials” should be dragging us along into the “new” technologies and etc. I watched a You Tube video the other day that demonstrated the percentage of wealth by various generations by the time they reached the age of 39. Each generation took a drop in the percentage of wealth. In another video by Robert Kiyosaki, Robert stated “the Millennials” are the smartest generation however, they lack drive that was part of the Baby Boomer generation.

  4. here is just my opinion on this great article and Blog Post — if you are 20 or 60 like myself — you must look past the accepted norm and make sure You have You covered and in my opinion heading in the Right direction — not a right view but the Right Direction in whichever Country and political system you work under — but what I see out of under 40s is a laziness that I wasn’t allowed to play with — but anyways not trying to be a pain but this is what i have observed in my little piece of the world and life — great posting seriously —

  5. Great article, as a baby boomer I realized a lot of what that grandmother experience. I have tried ti educate myself by reading articles on the internet and watching videos. I agree with everything you stated in your article and hope more baby boomers catch up, there plenty of opporunity for us to learn and pass on to our kids and grandkids. Thanks for this article.

  6. good to see you Herbert D — life in middle MO has continued and I presume You are still in KC — You stay strong Sir and and enjoy the GrandBabies — I hope one day soon to make KC and say hey in person — love this Blog area and so much enjoy hearing the truth and life’s experience of my fellow partners and business fellowship — it is Awesome — thank you rjh

  7. I have read recently that a huge percentage of Millennials would buy or plan to buy some crypto in the near future. With all of the joblessness that Covid created, tons of people are now looking for different way online to make money. The interest is very high which is good for the cryptos and is good for Compumatrix. It’s certainly the way of the future.

  8. It is amazing how the younger generations are growing up in a new world of the internet, cell phones and cryptocurrency. Our 82 year old neighbor’s 9 year old granddaughter made her a webpage to display her paintings. She was thrilled to see her granddaughter was able to do this! With bitcoin and cryptocurrency becoming much more common ground I can see those generations learning and using bitcoin in everyday life in the near future.

  9. Jeff, I am so looking forward to introducing this to our Millennials. They have the World at their hand but they don’t yet see this.

    Bruce, this is a perfect example of the capabilities of our young. This is just what Robert Kiyosaki refers to when he talks about their intelligence. However, they lack the drive to push themselves (as we drive to push ourselves). Some call this lack of motivation but in the words of our Millennials, “I’M GOOD”!

  10. Being part of the “new generation” myself, I think there is an entire world that is waiting to be discovered – who wouldn’t want to thrust themselves into it! In the fast paced world in which we live in, I think my peers and I are eager to absorb all the new information. And learn it quicker than the person sitting next to us because we know someone else is ready to take our position if we fall behind. I don’t mind this mindset because it pushes me to work harder and become more knowledgeable in my craft. I got into cryptocurrencies because of my dad, but since being introduced; I have become very interested and want to learn everything possible about the field because I find it so fascinating. There is so much yet to be learned!

    1. I also wanted to add onto my previous comment:

      I think having amazing mentors such as my dad and other members within the company has proven invaluable to my knowledge about cryptocurrency. Without the help of the previous generations, I think new generations would be completely lost. There is so much to gain from people who are wiser than you. It is a true gift to have the opportunity to learn from people who are more knowledgeable than yourself. 🙂

  11. As a Baby boomer I was taught Go to school, get a job and save money.
    But that didn’t work for me. I was never good in studies, I worked for my dad and when he pass , the store slowly went to close and about saving , well I ended using all of it.
    So when I read about a 14 yrs old kid by the name of Robert Nay creates a game called angry birds becomes a millionaire. It blows my mind.
    Many self made rich kids Millenials and other lesser generations are making it big not because of school education but because of creativity.
    Now don’t get me wrong, education is necesarry , but it must be channel to the skill and creative minds of young students.
    Compumatrix will be a future for these new generations because they do understand

  12. Great post Stephen.. Millennial’s are quick on the uptake for sure.BUT.. I have found they are selfish and impatient, but the people they have to deal with are their own age group as our generations passes on. We have been lucky as the baby boomers. seeing so many things evolve and looking back at the old days of MLM and what business was about back then… It’s time to move on in the new digital age and cryptocurrencies, it’s good to be a part of a company that is heading in the right direction to take full advantage of this new business world..

  13. it does fascinate me as a “baby boomer’ i guess is what i am? but knowing what I used to do back in the 70’s and 80’s as a worker and so — I would work 70-80 hours a week and it would take 4-5 times longer to do so many of the things that technology and wisdom has turned into just a quick turn and then we go on — it is amazing the advances of technology — but gotta believe that back in 1800’s and then phone electric cars and so ??? how much did they feel some days overwhelmed???

  14. Being a Baby Boomer myself made it hard to transition into the computer world. My son loved it. He begged me to learn how to use a computer which scared me to death. After his death in 2000, I was faced with learning how to maneuver the internet. By the time my grandchildren were born (2003 and 2008), I had gotten over my fear. I saw the importance of learning and keeping up with the way the world would be communicating in the future. My granddaughter at the age of 5 was so at ease using the computer and was teaching me!

    Today’s parent introduces their babies at around one to two weeks old to the computer/cell phone while holding their infants. By the time they are 6 to 9 months, these babies are fighting the parent for the phone or computer! Many of the toys given to young children are electronics.

    As “baby boomers” we need to stay up or get lost into another world. I feel blessed that I have been able to introduce my grandchildren to the crypto world. They are being groomed to take over once I am too old to handle my own affairs. They know what Cryptocurrency is and what importance it will be to their future and the future of the world. I agree with Gail’s observation above. We can set back because these kids are already “wired” to take over.

  15. Computers are a “love/hate” matter for me. I love it when I can make them work for me and I hate them when I can’t figure them out. I, too, have had to push forward with the “learning curve” that is a part of computers. In this day that we live in everything revolves around the tec world.
    It just amazing how these little kids adapt to the computers so easy. We have a little
    “one year old” at our church who knows how to use her mother’s phone. She knows exactly what she wants to see and how to get to it.

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