Gen Alpha: What does the future hold?

THEY’RE going to live longer, be better educated and make more money. But today’s batch of bubs — also known as Gen Alpha — will all end up paying millions more for a home.

What does the future hold for little Eloise Ko and her mum Frances? Picture: Toby Zerna

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THEY’RE going to live longer, be better educated and make more money — but today’s batch of bubs will all end up paying millions more for a home.

Today’s average mum is aged 30.1 and when she was born in 1987 to the sounds of The Bangles’ Walk Like An Egyptian she could expect to live to a ripe old age of 79.4, But her daughter born this year will be around until she’s 84.6 — allowing her to see the turn of the next century.

Meanwhile when today’s average dad — aged 33 — was born as his parents watched Back to the Future on Betamax he could expect to live until he was 72.8 while his son will live to 80.4.

MONEY

Just how much money will they earn?

Social researcher Claire Madden predicts “Gen Alpha” will earn more than $2000 a week and stay in formal education longer than ever, but still struggle with the big cities’ booming property markets.

“We are seeing a trend towards increased life expectancy at birth and people are living longer than ever before, the babies today will likely hit the 100 mark,” Ms Madden said. “What I’m forecasting is for a baby born today, when they are aged 30 and into their income earning years, the average annual earnings will be $2136 a week. “If we go back to 1987, the average full-time ordinary earning was $437 a week, and today it’s $1179.”

EDUCATION

Half of all children born today will go to university.

Ms Madden also predicts more than half of the babies born in 2018 will complete a university education. In the 1970s, three in every 100 Australians had a bachelor degree. That figure today is one in four.

WORK

Today’s children are more likely to become their own boss Picture: Tim Hunter.

And the type of jobs they get will change dramatically.

“Gen Alpha will be playing with virtual reality toys in their childhood, artificial intelligence will be part of their formative years,” she said. “As they enter work these things will be a part of everyday life, this technology will assist not replace work.”

They will be working well into their 70s, pension aged will be pushed back.

They are also likely to become their own boss, doing project-based work in a career path that is “far less linear with jobs less defined and structured”.