Josh Hoskin Smart Money jhoskin@goldridge.co.nz

Locally, some commentators in the not so distant past have suggested the economy is so bad in New Zealand that Gen X and Y people should leave the country on mass (where too, I hear you ask).

Baby boomers have you failed your offspring? Do you know how they feel about the situation they have been handed? ‘Greed is good' crowed Gordon Gekko in the movie Wall Street. Well if greed is good, then let me be the first to say good is not enough, not even close, lets reach for greatness.

Given I am from the Generation X, I feel I can comment on who we are and how we may feel. Gen X's are stereotypically cast as dislocated as well as uncertain. The MTV generation has had to deal with family breakdowns and ever more greedy baby boomers and as a result we shunned authority and turned to film and music for our inspiration. The influences certainly in the early 90s, including bands such as Nirvana, Soundgarden, Rage Against the Machine as well as films such as Clerks and Fight Club, propagated this feeling of disillusionment. In summary, Gen X has been conditioned to feeling left out and out of control which until now is exactly what has been the case.

I think it is time to let Gen X help plot the new course. As Brian Gaynor has mentioned before, board rooms need to change personnel. Bring in new blood because we need a change of thinking. For investors out there, we should pay very close attention to those companies that make this step. Failed may not be the right word, but it is harder now than it was. Therefore, together we will have to find a new way and to do so we need to harness the thinking of Gen X. One last point, my grandparents grew up post depression – therefore I think we could listen to them a little more too.

The article is based on personal opinion and may not be representative of the views of Goldridge Ltd. Josh Hoskin is an authorised financial adviser with Goldridge Wealth Management. A copy of his Disclosure Statement is available free on request. This article is not personalised advice under the Financial Advisers Act 2008. Readers should not act on any suggestions in this column without taking professional advice that takes into account their current circumstances and appetite for risk.