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Is Gen Y in trouble?

Gen Y are people born somewhere in the mid 70s, and should be around thirtyish by now. Most of them in the developed countries are used to the good life style. Is this generation in trouble? Here's an article from Business Week. Think about our kids, who are part of this Gen Y.

http://www.businessweek.com/investor/content/jul2010/pi20100715_116291.htm

The Straits Times in Singapore carried a couple of articles as well on Gen Y. They are more attuned to pop, iPhone, gaming, luxury goods, pub, wine which the baby boomers avoid to plan for the future.

What will the future hold for them and for us? Do we have to support the Gen Y as well from our retirement fund?
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