My oldest grandchild just turned 21 and will graduate from college next year. What advice should he be getting – advice that will speak to a generation shaped by a pandemic and coming of age alongside artificial intelligence? How does a young adult facing exponential change build a productive, fulfilling and independent life?
Jump in: That’s what I’ll tell him. And I hope I can resist the urge to cushion the inevitable rocky landing, so he’ll build the resilience to do it again, and again.
A gritty summer job, a difficult boss, or a failed venture can teach lessons that success alone cannot. So can solo travel and hands-on volunteer work. Genuine exposure to people from different backgrounds and with different ways of thinking expands perspective in ways a classroom rarely can – and shapes future opportunities in ways no one anticipates.
Tomorrow’s careers will be less linear than those of previous generations. Many young adults will change professions multiple times. Technologies that do not yet exist will reshape entire sectors, and existing industries will evolve. The most successful people in the coming decades will combine technical competence with creativity, communication skills and emotional intelligence, deeply human qualities that are not easily replaced.
Many affluent families worry that their children will struggle more than they had to. And that may be true. (See my discussion with Sean Brady in the previous issue of Independent Thinking.) The temptation to clear obstacles from our children’s path is strong. But we – and they – all know remarkable wealth-creation stories, from those of the founders and executives of AI and other technology companies who have created extraordinary value in a remarkably short time, to the less celebrated fortunes of the multi-unit franchise owner, the dentist who builds several practices, the plumber who buys his building, or the HVAC contractor who eventually sells to a private equity firm. There is still opportunity in the United States.
What families are really asking today is not simply whether their children will outearn them. We know that younger generations are right to view success through a broader lens: Meaningful work, strong relationships, physical and emotional well-being, and a sense of purpose should rank alongside financial achievement. More fundamentally, they want to know whether their children will have the confidence and capability to shape their own futures. That confidence matters because it creates a willingness to take intelligent risks.
Every successful entrepreneur, investor and business builder – in technology, in the trades, in the arts, in athletics – has made calculated bets at critical moments. Reckless risk-taking can be destructive, but avoiding risk entirely is its own form of limitation.
Jump in, I’ll tell my grandson. Pursue your ambitions enthusiastically, but do not measure your life solely by financial success. Build your character as well as your career. Be curious. Be dependable. Treat people well. Keep learning. The world you are entering will look very different from the one I knew at your age, but the qualities that lead to a meaningful life have changed remarkably little over time.
