unfinished article

Recently I had the privilege, of seeing many of my friends off of a trip to Israel for four weeks.  There were 25 of them all together on the trip. As many of them were retired I started to think of how much the trip would have cost and how they were able to pay for it.  
 
There are two ways to create wealth.  It is either by something appreciating in value or having a form of passive income. 
 
Many of this tour group, are over 65 years so they would be getting Superannuation.    However I know that the superannuation they receive from the government would not be enough money so they could save enough money for this type of trip.  I started wondering if many of this current generation would have enough money to travel overseas when they retire.  One thing I have noticed is the difference between first generation and the current generation is that the older generation understands delayed gratification.  This generation often is in the habit of buying now and paying later.  The older generation has been taught to save for the future.
 
This generation is encouraged by enticing advertising to spend now and don’t worry about the future.  Last week I conducted a seminar for 18 to 25 year olds.  Many of them had been smoking for a number of years.  We looked at the cost of smoking over a long period of time.  Many of these young adults were surprised as to how much they have already spent on cigarettes.  They had never added up how much their habit had cost them so far and if they continued to smoke how much it would cost them after say 20 years.