 Today's episode of Financial Sense talks about the economic impact Millennials have in our country, especially with their new and different ways of looking at things and generating income. The Pew Research Center characterizes Millennials as confident, self-expressive, connected, open to change. They are highly engaged, both politically and socially, compared to other generations. Millennials have their say about issues and are more involved with politics. But they are also described as narcissists and referred to as the me, me generation. In this episode, we will find out, dig into reality or fantasy, about the positive and the negative characteristics that have been used to describe our Millennials. Good day to our viewers. This is Alfredo Pasqual, together with my co-host, Elena Bernia. We will try to understand the millennial phenomenon in this episode of Financial Sense. First, let's ask the question and find an answer to what is a millennial? Good day, Fred. Well, Millennials are the generational cohort born between 1983 and 2000. So by now, they are between the ages of 17 and 34. Other names that they have been called are Generation Y and Generation Me. Being social media dependent, they are also called the Selfie Generation. Filipino Millennials are Philenials. Philenials are adventurous, active, independent. And other positive descriptions that have been heaped on them are open-minded and liberal. Are they support gay rights, as well as equal rights for minorities, among others? I know that Millennials are called digital natives, as opposed to, I guess, my being a digital migrant. Since Millennials have had technology all their lives. These tech savvy youth are always with their gadgets, phones, tablets, and other digital devices. They grew up playing computer video games when they were in grade school. By the time they were in high school, they were into Facebook and other social media networks, which they used to form and maintain their friendships, relationships, and their self-image. In the work setting, Millennials place a great deal of value on flexible work schedules and using social media technology as a means of being more productive. Millennials and smartphones, those internet-connected mobile devices, go hand in hand. Well, as you said, Millennials are glued to their smartphones because as social media natives, they are always connected. The social media are not just for their friendships. They are important work tools. Millennials are so used to their devices and the apps that they are in them, and they use this to research information on demand. They use them to crowdsource solutions to problems and even get news, information, and current events. I don't think a Millennial would work for any company that would prohibit Facebook, Twitter, Instagram, Snapchat, messaging, and all those other apps that I'm not familiar with at work. All those are consistent with Millennials being receptive to new ideas and ways of living. Actually, descriptions of Millennials run the range of positive and negative. For example, they are praised for being confident and self-expressive, but they have been labelled as narcissistic and spoiled. But this could all be because of a problem of perception. Yeah, so we're very lucky today because we have a few Millennials with us in the studio. And let's start by asking them if they agree with their descriptions. Okay, may I ask Irvin first, Irvin Temporal, to introduce himself and tell us are those descriptions true? Okay, so I'm Irvin Ilay Temporal, a graduate of BA Communication Research in 2008. So I started as a working student, a few pedilaman when I was 18 then. I had four jobs. And then I opened my first company, 9.09 or IELTS Review Centre when I was 19. And now that I'm 29, Niner has grown to 37 branches nationwide. And apart from Niner, I also have three immigration firms. So one is Canadian Immigration Specialists based in Bindi, Makati. I also opened Commonwealth Visa Experts for New Zealand, that's based in Quezon City. And then I also opened AMS Global for Australia. So this is also an international educational placement based in Salcedo, Makati. And it also gave birth to an online review provider, EZ9 based in T-Mog. And I also decided to put up a travel agency with my aunts based in Davao. It's a jetway travel. So with the description, I mostly agree to a certain extent that when people ask me, so what's your job like? So I'm a feature slash reply center agent because I will do one personal replying to all the inquiries. And I have five Facebook accounts. So one personal account, one public figure page. And then I'm also maintaining the Facebook accounts of Niner, CIS and CVE. So when I wake up early in the morning, usually I reply to minimum 40 messages. And then before I sleep at night, that's another 40 messages. And if I'm not connected to the internet, I am totally lost. I feel like I don't have access to what's happening around me. Okay. So you have a millennial here who has what appears to be an exhausting life but is so well connected. Remember, he's like the slash guy. May we ask Raph, our second millennial here to introduce himself as well. Hello, good evening everyone. My name is Raph. I'm a surfer and traveler. And I'm also a social entrepreneur focused on sustainable tourism. So I have a circle hostel together with my partner Ziggy Gonzalez. And I also have make a difference travel. And I mean, I agree with many of the points actually that were raised. And for me specifically, the one that hit home was we're fighting for rights of minorities because I think that's what social entrepreneurship is all about, like being able to create opportunities for people who don't have access to it. So specifically for myself and the people I work with, a lot of us work with poor fishermen, poor farmers, indigenous people. And the whole point I feel like of my life is so that I'm able to create these opportunities for people to live, to move up and to be able to, I guess, economically progress and educationally progress now. And social media is such an effective tool for it. So although I'm very savvy with social media, although I'm trying to disconnect because I feel like I'm already over. Like sometimes I'm like, it's 11 o'clock, I'm still looking at my phone, I have to stop now. We're oversaturated with technology that I really appreciate disconnecting. That's why I like to travel a lot. And my friends as well, I'm encouraging them, you know, just go to a beach where there's no signal so you can enjoy. He's enjoying life. So giving, you know, life to what we're trying to aspire for our countrymen, particularly the minorities, inclusive development. Yes sir, inclusive business. That's another way of looking at it now. May we ask our third guest now, Angel? Hi, I'm Angel Oano. I'm a freelance environmental planner and a farm manager. So basically, I could, yeah, to a certain degree, all of the points raised were like on point. What hit me the most like working, working even if it's a different kind of atmosphere. So long as there's fulfillment, that's a keyword. That's the longest time that that was my goal. Wait, when I look at this company, I'm like, well, I feel fulfilled if I work for these people. Do they match with my values? I have this vision that being an environmental planner, I think that development should be sustainable, that the environment should not suffer at the cost of progress. So I try to work towards that with every single job or at least contract that I get into. Especially I saw that, the need for that with my last mission with UN. We were the first responders for Typhoon Haiyan, and we saw that the workforce really, as first responders for these things, that that's why values is very much important for the millions. It was such a young crowd. My coworkers were like 18, 19, some even coming from the University of the Philippines. And we were all young, we were all technocrats. We were all technicians in our field, experts in our field, but it was such a young generation working there, helping all of those people recover from such devastation. So yeah, the value system is there. It's very much important to resonate with the values that are being presented with the work that we have. You're really typical examples of what we have defined earlier as millennials. I wonder whether most of your friends belong to the same category. Definitely. You observe also the same characteristics from many or if not all of your friends. Yeah, it's common in our group of friends that if you don't have a picture, it didn't happen. That's why you need your picture, or you need your selfie, or your picture. I agree, and I believe there is such a group of young people that populate our world now. At the same time, the research studies have shown that millennials differ from older generations. For one, millennials have no problem leaving a job. I think I can say that, observing my youngest son, leave corporate jobs and eventually ending up on his own. In fact, they find ways to create their own jobs through based on my own observation. Also, data show that they find fulfillment doing things that give them more psychic income rather than monetary income. We have just heard the stories from these young people. Looks like they exhibit the findings that came out of this research or works that we have looked at. Yeah, that's true. We are hearing from our millennials here. We really do find out that millennials generally prefer to focus on things that give them fulfillment, the word that Angel used, fulfillment more than earning high salaries. It looks that way. I don't know, maybe because these children are born of parents who can partly support what they are starting to do, but it has been found in many studies as well that millennials have no problem doing what they want and trying to work on things that will accommodate their personal values. That's true. They are not mercenaries in other words. In a sense, they enjoy job-hopping. Is that right? I don't think it enjoys job-hopping. I don't think it's really the constant search for what will fulfill your life as individuals. I feel like the job-hopping happens. I used to work for Johnson & Johnson. It's my first job selling panty liners and sanitary napkins. I was like, this can't make me happy. I wake up in the morning and say, buy one. Never mind. I remember when I resigned, the sales director of our company was asking, aren't you happy with this package? I was like, it's an amazing package. It's multinational. At the age of 22, I was earning more than my dad earned when he was like 40 years old. I had my own car and everything, but I was like, ma'am, because it's not fun. It's a problem. It's also a natural feeling. Cotton products aren't fun. So I recall Sunday nights, I'd go to my dad and my dad. I don't want to work because I just don't feel it. And that personal connection is so important. So I guess that's why I read some articles on Facebook that said millennials might be a generation that are poorer than their parents. But probably because the priority has changed in a bit. You look at it from another perspective. At least for ourselves, we grew up in a place where there was more affluence in the country. And so since you're more comfortable, there's more education. There are also more choices. And so the number of choices also complicates your search and your hopping around. May I ask Irvin here whether that was true for him? Having affluent parents allows you the opportunity and the leisure, I suppose, to do what it is that you want to do. Well, I actually was born and raised in Davao. So both my parents worked for Banco de Oro. That's actually their first and last job. So given the choice, I can actually decide to do this or to do that. But I never had plans of putting up my own business. I just wanted to work as a student here in UPDileman, not because I'm not sent enough money by my parents, but I'm thinking, what am I going to do during my free time? I'm a shifty from UPDileman to UPDileman. So during that time, I was taking up only three subjects in one semester. So I'm thinking, why don't I work in the morning? So I teach IELTS. I do private tutorial that time. And then at night, I go to Ortega to teach Koreans. So I'm going to UPD in the afternoon. Saturday and Sunday, I teach in a review center located in Maraita. And during my free time, if there are students from other schools who would ask me to help them out in making their research papers, I'd do that for them. So I had like four jobs during that time. And it's not about the money. I think it's about the fulfillment that you are able to help them, especially my students, because I was 18 then. Most of my students were 21 to 50 years old. And then they were telling me, we have to pass this English examination because if we pass the English exam in Australia, we can earn 260,000 pesos per month as a nurse. Or in Canada, we can earn, say, for instance, 125 to 125,000, 150,000 per month as an apple picker. So you are thinking, okay, I am making money. I was 18 years old that time when I earned 500,000 pesos. But it's not about the money. It's about the nobility of the job. And perhaps you have a lot of options, but of all these options you pick, for which particular option would I benefit from the most? So it's not just finding fulfillment, but also showing and sharing the talents that you have. Right? Well, then, what about the experiences of our millennials when it comes to money matters? Yeah, would you say that with your approach to earning money that you can safely say that you can enjoy also financial independence? And I am sure you do with what you do now, isn't it? Yeah, but how do you assure this, given that many of the ventures you have gone into are those that, well, unlike those when you are employed in a job that pays well, here you have more uncertainty. Yes. How do you manage that uncertainty? Well, I actually feel, sir, that one side of it for millennials is that you don't need to have a regular paint job because many of the millennials are so creative, they're consultants, they're designers, video makers, etc. So it's a non-traditional form of earning. And then on our side, for example, of myself being an entrepreneur, we have to make peace with the fact that it's going to be sort of uncertain, but when else am I going to try to take these risks when at least when I'm young? But do you save? Yes, definitely. In fact, I'm very stingy. My friends say I'm very corrupt, that my Chinese blood belt comes out because I don't like to spend. Ever since I was in grade school, I'd bring food from home. And until today I do, because that's the best way for me to save. And so when I put up my own business, and I spent my own money, and because I really saved, like my friends would eat out in BGC or Fort, I'll just pass, I'll show up, I'll eat, I'll just dessert. So you really have financial sense? Well, I'm not sure. Because my grandparents taught that to me. But I feel that millennials have that opportunity to learn a bit more about it. I don't know, I think Irwin might agree with that. The expenses? The expenses part? Yeah, well, honestly, I don't have an ATM. And then my father got my checkbook from me. So in a day, I can just like get 2,000 pesos from the office. And this is what I use in spending. So I take the MRT. And then on my way to UP, I actually took the bus from España. Like, I can purchase a car. It's just that. Why would you use your car? When it would take you around 2 hours driving around the metropolis, when you can take the train. So in fact, I remember how it all started. So before, what I did was, okay, I opened an account, and then I don't want to be tempted to spend. What I did was, I intended to like throw the passbook. So I cannot withdraw. So every month I just keep on depositing. And then from May 2006 to March of 2007, after 10 months, when I went to the bank to check my balance, that's when I learned I had 500,000 pesos. When I was 18 years old that time. And up until now, our rule in the family, whatever amount we deposit, we don't spend anything at all. Like, it stays there for the rest of our life until I die, the money just stays there. So basically, what do I do with that? Well, we use it for lending. So we have a lending company. So when people need money, they can borrow that amount. So where do I get the money to spend for my expenses? So the interest that we get for this particular amount, say for instance like 1 million, if I'm going to get 20,000 pesos out of that, that's what I'm going to spend. So there is financial sense. Would you agree Fred? There is, but I think it's the value then that people put into things like, for example, let me know if you agree, but now because there's so many places to eat out in. So if you grew up at this time and then you're in a decent job, then you have a lot of money. You don't have a kid. You can't eat outside, right? Then you try with Maginjawa, first maybe spend 200 per meal, then you'll move to BGC, that's 500 per meal, and before you know it, you've spent a lot of money. So the society is also, the environment is very tempting, makes it easy and nice to spend also. I guess that's the challenge. Angel, would you say that you are that kind of spender as well? No, I'm not that kind of spender. My money goes into so many different things being partly a farm manager. It goes to feeds, it goes to fertilizers, it goes there. Because I'm investing long-term, I mean those mango trees will not grow in an instant. It's going to take 20 years for them to start fruiting really well before I actually start earning really well from crops. So that's where most of my money really goes. Basically to investing in land. And I really, since my background being an environmental planner, I see so many aspects of the way we develop things that are lacking in long-term thinking. So I thought to myself, you know what, with the state of the world right now, climate change being such a runaway thing, I'm like, how do I secure myself in a changing world like this? Like the first, and the most basic is like, how do I feed myself? Like if all of the financial systems and economic systems collapse, how can I feed myself? That's why I'm investing so much on my family's farm. And in a way, my dad says, oh, since I'm such an absentee landlord, that's yours. I'm like, okay. But basically that is such a close cause to my head, food security. Like whatever your social status is, you're going to need food. You're going to need water. Like how can you secure that for yourself? So that's where most of my money really comes. So I am technically poor. I am technically poor, but I know I'm going to experience that state of abundance when all of my investments come into fruition literally figuratively. So that's my financial sense, the closest I guess. Well, they really think ahead. Given that kind of thinking we just heard thinking about what could happen, the worst thing that could happen. So they're building up a farm to be the fallback for food. I think the millennials also have kind of work ethic that can really propel them towards success. And they seem to be very effective, very good workers. They even have this slush characteristic, having multiple jobs, being, you know, teacher slash, travel agent slash, and so many other types of activities. With all the work they're doing, I mean their day job plus multiple jobs and their freelancing, I worry that they might burn out sooner than what we have experienced or even in our case, we've not experienced burnout yet for so many years now. Well, I guess they have agreed with certain core values of millennials, both the productive side as well as the negative side. But what is also quite obvious among these characteristics is that they enjoy being busy. Why is that? Why is that you enjoy being busy? It doesn't give you the financial rewards. Basically, boredom is somehow like a dreadful thing to have in your life when you're a millennial, like when you're out of things to do and like, now what? I think it comes from the fact that we were born in a time where if we're talking about 1984, 2000, technology was so fast. I remember being in high school, I just had a Nokia analog, and a few months later there's a new model. Same now, you just purchased a new smartphone model and then in the next month it makes the other one obsolete. So that kind of stimulus kind of conditions the whole generation. Things must change. Things must continue to change. There should be new things every time. Creativity must be at that premium at its peak most of the time. So I think having that kind of high stimuli kind of atmosphere shapes us. The way we do our lives, we also be as active, as varied, as diverse. So that's why I think boredom is such a dreadful thing to happen to a millennial's life. That's fighting boredom that keeps you going. How long do you think you'll be in that state, you know? State of flux? No, no, I really know. There will be a plateau where things will stabilize in your life where you would want to focus on one job, one business and really grow that job or grow that business. In my case, I'm telling my parents I want to retire when I'm 35 so I'm 29 now. I have six years to go because by the time I'm 40 I cannot do this anymore. Just last week I visited four provinces in one week. I started in Tugigarau, traveled down to Isabela and flew to Bacolod to the super cat going to Ilu Ilo, fly back to Manila and that's in like seven days. So by the time I'm 40 I cannot do this anymore. So strike while the iron is hot and then before I consulted a psychiatrist and my psychiatrist told me okay, you don't talk fast but you are manic. My psychiatrist told me you have everything like you have OCD you have ADHD, you have like everything. So right now if I'm not doing anything I feel sick. So why am I not doing anything? Is there something wrong? So if it's part of your system you do that every single day of your life. So yeah, people were telling me earlier blah blah blah, but I tell them you know what, I'm gonna die soon. Like 10 years from now, 20 years from now I'll say goodbye, but at least when I meet St. Peter someday when St. Peter will talk to me okay, what did you do on earth? You reached 100 but you just sat down at home waiting for God to get you. So at least I'll tell St. Peter I live my life. If I die young at least I live my life. You don't want the life of 100 which is one year times 100. Actually telling myself 50 that's the maximum 50 I'm gone. But are you prepared for that retirement financially? I suppose I can retire now. Like I can sit down. What's your concept of retirement? But I'm no longer waking up in the morning teaching to my students and replying to all these text messages and emails and all these messages. Sleep, eat, watch TV maybe go to the gym and play tennis because that's the only thing I'm looking forward to in a week. Like if I go to a gym so oh my god this is so fruitful. So it's an active life but no longer directed to making money or helping others. I'm so competitive that number two is not an option. So every year during the awarding of annual IELTS agents they are 112 review centers in the Philippines. For the 10th consecutive year we are at number one. So right now we are at 6,986 points and number two agent in the Philippines 1,700 points and I'm not yet happy. This is competitive. Yeah. But I see in this millennia these tricks of entrepreneurship that our country badly needs. If these young millennials can direct their energies and their creativity towards building a big business that will create jobs for the country. How about that? I agree. I'm so impressed with what he's doing because he's really creating a lot of opportunities for other people. And just when you look at our generation because there's so much access to information we also become what we call the YOLO generation. Used to be called Calte Diem. You only live once. So everyone you want to live life to the fullest, you want to have fun and so that's why online it's always you post the most fun side of your life. The trend now changing within the last five years is the most fulfilling side of your life now because Rappler recently came out with research that says that 93% of Filipino millennials want to give back. Which is higher than the global average of 86. So I'm actually very happy with that and at least in the line of work that I do which is a lot of volunteerism. So many Filipino millennials want to give back. It's amazing how kind-hearted these people are. They'll volunteer late hours to work. They'll walk two kilometers under the sun just to visit some village where they don't even know the people but they just want to help them plant trees and so despite the fact that and I'll admit, I'll be the first to admit that millennials do have spending habits that need help. So you're not typical in that sense. Yeah, yeah but I mean I have most of the millennials you know are spent trips. I would say sir they spend for luxury goods a lot of time a lot of time but you said something interesting a while ago about how long does this last and I feel like the older generation of millennials I guess that's us. We're moving into that side it's not as important anymore to have that super nice selfie in this luxurious place because what people are looking for now I believe is authenticity people want something that's real because on Facebook it's always oh what's the best what's the best. Now I want what's real because we're already married what's the flashiest what's the best it's affected in many ways how we spend and how we think of money When you say what is real does that mean what's cheaper? No, not necessarily ma'am but I think for example if you're buying let's say you're buying chocolate today I would want to buy a Filipino chocolate bar. I don't want to buy something foreign because I really love this country chocolate for example. Yes sir, chocolate over Cadbury but not over Ferrero Rocher but there are Filipino brands up and coming like feeling to your chocolate and I think the whole point is that there's this drive that money is still important but there are new factors coming out that help them decide like what helps my country more what helps the environment more because like what she said the context of climate change the fact that let's say in the last 25 years the global average of water level has increased by 1.5 feet and in the next 25 years it's projected to increase 4 times that rate so 6 feet increase so goodbye beach front so for me I'm thinking now how do I secure my future but my future is not just money now my future is my environment and so I feel like I need to do something about it and so that's why there's their movements like now we don't want to use water bottles anymore because the Philippines is the third largest producer of single use plastic waste in the world and so a lot of millennials are jumping in on that now let's not use plastic straws let's not use water bottles let's become more sustainable and so I think when you say financial sense to a millennial it's going to start becoming more and more common to see the concept of sustainability enter the picture because it's the environment we're in now I mean where we've got some serious challenges of food security of climate change that we have to deal with and you know think about it's very enlightening to have kids who will worry about the future impact of climate change issue of sustainability because right now my generation is very much having a you're a baby boomer baby boomer yeah we also worry about the future not so much for ourselves but for the family I think our millennials here have debunked that stereotype that millennials are spendthrift eager to spend what they have because from hearing from them we hear that they are spending for the alternatives you know whether they are cheaper but certainly more nationalistic yeah but at the same time they seem to also go through a cycle you know and then there is a point of the cycle in their life where they will reach maturity whatever that means in terms of changing hopefully changing for making use of all their talents and what they have developed in their younger years towards building up something bigger and more helpful to the country to the environment and to the world say hold you know to our the planet that we share but I'd like to ask one thing with all your facility for using devices do you use them for the practical purposes of transactions, banking trading do you know how to use them and can you tell us how you have used this Ervin? well to be honest I'm a technological idiot so I usually ask my staff to do that for me alright okay so I use it for convenience but it's not as if like when I see a problem in my smartphone I ask my brother who's younger than me to do this for me oh I see so you're not a typical I'm not techno savvy at all you're an example of that other type but you have somebody to rely on in any case I use my Facebook for work but it doesn't mean that I know how to use all the gadgets so this is one millennial who needs assistance with the devices okay but how about you Raf are your devices somehow your tools for financial purposes? yeah I carry three devices that's a laptop iPad and a smartphone and each of them has a different purpose for my life and definitely like if I don't have a computer device like either my laptop or any of the three you feel a bit vulnerable because you can't really work we're in the age where you can't do things alone you need to collaborate you need to partner with people and that means a lot of communication and so if you don't have that then that's tough and just for myself because I also work with my dad's company in construction it's a much older company 50 years old so when I compare the culture between a company the average 10 years, 15 years versus let's say a company I started where most of the people are like everyone's like 35 and below the culture is so drastically different because in the company of my dad people care where you are they want to see you but in the other company they know you're online, they know where to preach you so work wherever you want it's fine as long as you deliver your result but the eight, nine to five doesn't really apply to us anymore and technology enables us to do that but what about the financial transactions you are in the hotel business how do you do that oh yeah, that's a good question in fact for us most of our payments are done online actually so there are online payments like PayPal or you can do a piece in credit card and I think that's just going to grow in the Philippines because I think the penetration of credit cards is still quite low but look, I see that it's just going to get bigger and bigger as more people have access to jobs and financial literacy at some point in your life Raf you've become a CEO of a company construction company a bigger, more traditional company but he is the CEO of his travel business do you hire comillinials would you be able to work with them I think they've become better workers I think millennials can be very good workers because I like working with young people the trick with millennials is you have to find a way to inspire them because you can't I find that I can't bribe millennials with money, not that I can pay high but when they come to me they don't come to me because they want to work for money they come to me because hey, I like what you're doing I think it's fun or I think it's fulfilling that's why I'm going to work with you and so when managing millennials at least for employers my two cents is the finance is not part of it the other big side is freedom as well and like end purpose these are values that are held very closely and so if you put me in a desk nine hours a day I'm going to go crazy talking about crazy and maybe angel because you are the female and the more nurturing kind research and my own practical experience shows that millennials have higher rates of depression, stress and suicidal ideations it's also been said and I think I have had some few experiences with it that millennials find it difficult to cope with the normal stresses of life including emotional ups and downs breaking up in relationships that was my question how real is it and how does it impact upon your relationships with those who are your co-employees your employees I remember being the team leader for this mission with last time we were all millennials and it was such a high stress job coming into a devastated municipality that is going to make a mark on you there's a psychological mark there we went there day five and bodies have not been cleaned up yet to be properly buried and that leaves a mark on you and I have a little bit of background with facilitating meditation and of course a little bit of counseling I just made it such a conscious effort to give my teammates or at least the team a breathing space just to share all of that because with the patterns of in technology right now it's the best foot forward it's the yolo it's a filtered life there's a filter on that life it's not the complete reality it's not the complete reality so in that sense when my last experience I tried to take out that filter I'm like how do you feel when you saw all of those children how do you feel when people were actually looking for food and it cost a riot just provided that space so basically I think it's more of a collaboration it's the great part about our generation we're open to each other we're able to provide space that's the most important one hold space for values mindsets and feelings basically I also would like to know as your parting words from each of you how do you think you should relate to your older generation how do you think they should relate to you to your generation well with my experience I have a lot of people who are older than me as my friends, my good friends I think the connecting factor is values really because that's the great part at least the larger spectrum of millennials especially the ones the earlier ones because we have the best of both worlds like all classic values and then we have the feel of the times now so we have the best of both worlds and we are able to marry it and somehow to make it more relatable for the other people for the other generation because the other generations also experience change not as fast-paced as we did but there is also a very distinct factor of change in each generation that they could relate to so I think that's a nice touchstone for the generation and I guess if we're to talk about how to relate I think openness is basically the key laying out I know each generation have very distinct psychological profiles and personalities but when you go to that space of openness this is only how much I could understand and then you meet them halfway so it's all about laying your cards on the table so openness is a key honesty I think that from my perspective because I have mentors who are in their 60s I really really appreciate their practicality and I really appreciate how solid their value system is because it's tried and tested over time and sometimes I feel like that's what's lacking because we don't have as many good examples as we should have out in the open on social media and sometimes you can get lost in all the information that comes out and so when you really reflect and look back you have to go back to what is real and so that's why it's important that the older generation always teaches you you have to make friends your friends aren't just the ones that you chat on Facebook with they're the ones you really talk to also and I guess that's one thing that I super appreciate from the older generation and that I would encourage fellow millennials to please reach out to the older generation because they're terrific we just have to reach out to them and hopefully the older generation can also participate though there might be a generation gap perhaps what the millions can do for the older generation aside from values I think it's inspiration because some older people think okay I'm too old I cannot do this I cannot do that you're never too young you're never too old to do anything so in my case most of us most of my teachers are just about my age but we have students where like 40 years old 45 or 50 so we tell them well in life nothing good ever comes easy easy things are not great and great things are not easy and in life there is no elevator to success so if you want to go abroad if you want to do this for your family you work hard for it you don't say I'm too old to study I'm too old to pass an English examination so if I told them if I was able to do what I was able to do in the last 10 years then you can do that do it not for yourself but do it for the benefit of your children, your kids the future generation and well my motto in life because I'm inspired I have to inspire other people well spoken like a true millennial I suppose towards both ways that's also what we've seen one generation supporting the other not necessarily one direction but traffic is two ways well I hope we have you know spent the time fruitfully trying to understand what millennials are particularly for our audience consisting of my generation or the generation after the millennials and the millennials who will watch this episode the financial science I hope you've also learned from the examples of your peers the millennials the three millennials we have with us today we convey to our impressive young group here our most heartfelt congratulations for the good work that you have been doing and we wish you more power greater success considering that your concerns are really for the rest of society and of course we'd like to thank you our viewers for watching we hope you will continue watching us in other episodes of financial sense thank you good day