TEXT A The age of gilded youth is
over. Today’s under-thirties are the first generation for a century who can
expect a lower living standard than their parents. Research into
the lifestyle and prospects of people horn since 1970 shows that they are likely
to face a lifetime of longer working hours, lower job security and higher taxes
than the previous generation. When they leave work late in the evening they will
be more likely to return to a small rented flat than to a house of their own.
When, eventually, they retire it will be on pensions far lower in real terms
than those of their immediate forebears. The findings are
revealed in a study of the way the ageing of Britain’s population is affecting
different generations, Anther Tinker, professor of social gerontology at King’s
College London, who carried out much of the work, said the growth of the
proportion of people over 50 had reversed the traditional flow of wealth from
older to younger generations, "Today’s older middle-aged and elderly are
becoming the new winners," she said. "They made relatively small the last three
to four decades face the prospect of handing over more than a third of their
lifetime’s earnings (in taxes) to care for them." She revealed
that between 1993 and 2000 the proportion of under-25s who owned their own
property fell from 21% to 19% and it is still declining. The number of 25
to 29-year-old men living with their parents rose from 18% in 1978 to 23% in
1998. But perhaps the most telling figures are for people living without a
companion or spouse. In 1973 just 2% of 25 to 35-year-olds lived this way; by
2000 the figure was 12%. Rachel Thomson, a social science
researcher at South Bank University, has studied social mobility. "Working-class
youngsters can still expect to do better than their parents provided they live
in the right area," she said. "but for many with middle-class backgrounds,
downward mobility is increasingly likely." The two biggest
financial blows for under-thirties are student loans and property prices.
Marie-Claire Smith, 28, a civil servant in London earning just over £30,000 a
year, said: "At my age my parents had a home and were starting a family. I
graduated five years ago with £6,000 in student loans, a £2,000 overdraft and a
postgraduate loan of £3,000 which I have to pay off. I’m getting paranoid that
by the time my boyfriend and I can afford a home and a family I’ll be less
fertile." One refuge is futile optimism. Thomson said: "The
studies found people refuse to talk about downward mobility even when it is
clearly happening to them. Doing worse than your parents is the great modern
anxiety and they hate to face up to it." The under-thirties can,
however, take consolation in being much more widely travelled. Cheap air fares
and wider acceptance of taking years out before or after university have allowed
many to go far afield before starting a career. It may be advised to the under-thirties that______.
A.they seek help from their parents B.they hold an optimistic attitude C.they start a career overseas D.No advice is offered