A Brighter Future: Youth Priorities Beyond Wealth

This article was originally titled “How My Generation Became Obsessed With Wealth”.

When I started working, the goal was to earn a living to live comfortably. The obsession with wealth began in 1981 when Malcolm Forbes, the publisher of Forbes magazine, published the first-ever Forbes 400 list. Then, in 1989, the Sunday Times started publishing its own Rich List—an annual survey of the wealthiest people residing in the United Kingdom.

With the advent of business and money channels, more reporters and finance analysts began publishing reports detailing the widening gap between rich and poor. Films, TV series, reality TV, and social media made the lives of the wealthy more accessible, and more people became hungry for it.

This focus on money changed morality completely. It was no longer about who you are, but about what you are worth. Morals became non-productive in that value system. As Florian Homm, “the antichrist of finance,” who stole hundreds of millions of dollars from investors, said, "It was not about who you are, but about what you are worth."

It was no longer about wanting a slightly better house or a nicer car. It was about the mansion, the Maserati, and the jet. It had become about earning millions to live a luxurious life. Heroes and heroines were now the wealthy, irrespective of how the money was made.

We now know that the rich suffer as well. We are now hearing different questions being asked about the pursuit of money:

• Is money really what we should be aiming for?

• Does money bring happiness?

• Is it all right to lose one’s morals to become rich?

Many are asking these questions, and soon it may no longer be cool to be “filthy rich.” Indeed the most recent data from the 2021 Global Youth Development Index, developed by the Commonwealth Secretariat, highlights several key priorities for young people today no longer priotising money. 

Yes, the most recent new-global-youth-development-index-shows-improvement-in-the-state-of-1-8-billion-young-people-around-the-world indicate no obsession with Money. This is what came of the Index:

1. Education: Access to quality education remains a top priority, with a focus on practical skills that prepare young people for the workforce.

2. Employment and Opportunity: Young people are seeking better job opportunities and pathways to entrepreneurship.

3. Health and Well-being: Mental health and overall well-being are critical concerns, with an emphasis on accessible healthcare services.

4. Equality and Inclusion: There is a strong demand for equality and inclusion across all sectors of society.

5. Political and Civic Participation: Young people want to be more involved in political processes and civic activities.

6. Peace and Security: Safety and security continue to be important, with a focus on reducing violence and ensuring safe environments.

These priorities reflect a broader understanding of well-being that goes beyond financial success, emphasizing a balanced and inclusive approach to development. Bravo our youth!

With over 30 years of working with the rich and the ultra-rich, I found them no different from the less rich, apart from the size of their net assets—often without a cent in their pocket. They have the same questions about life, death, love, the existence of God, conflicts, and corruption. They are not necessarily happier than those who have less.

To those asking the billion-dollar question about what comes first, money or family life, I say:

• Invest in yourself and your family first.

• Become financially literate.

• Draw your road map and stick to it.

• Know when you have reached your goal.

• Focus on your life, not how the super-rich live.

• Live the life you have chosen, not what social media and the press throw at you.

The future can be bright if we make it so.