Latest news with #boomers
The Guardian
3 hours ago
- Entertainment
- The Guardian
‘They tell you every minor inconvenience': bartenders on which generation has the worst behavior
Gen Z are used to headlines about the things they've 'killed': writing in cursive, getting their driver's licenses, knowing how printers work, wearing skinny jeans. Their latest offense, according to a recent New York Times article: opening bar tabs. Bartenders and drinkers alike spoke to the Times about young people's hesitancy to leave their credit cards behind the bar, instead preferring to close out and pay after every single drink – no matter how many rounds they order. The piece sparked conversations on TikTok and Reddit about gen Z bar etiquette, which some call nearly irredeemable. 'Working a bar that is almost exclusively Gen Z, we stopped opening tabs altogether because they're so bad at even remembering they have a card,' one person wrote on r/bartenders. But does gen Z have the worst bar etiquette? The Guardian spoke to bartenders across the US about which generation behaves best and discovered that younger folks aren't the horrible customers so many trend pieces set them up to be. Older drinkers often have worse manners – and they don't have the excuse of inexperience to let them off the hook. Michaela Giunchigliani works in Sonoma, California, at a boutique winery where she serves people of all ages. 'By far the most challenging, stressful, taxing – and I say this with love – are the boomers,' Giunchigliani said. 'I find that boomers [roughly those aged between 60 and 80] keep this keen eye on any little thing that they can glob onto and say: 'Well, you didn't bend over backwards for me.' Gen Z doesn't have that same entitlement.' Rachel Phelps, a bartender in Pittsburgh, agreed that the '50-plus' crowd wins the distinction of most demanding. 'They're going to want to pick where they sit, and they're going to tell you every minor inconvenience. I used to work at a bar that didn't have air conditioning, and it was always my fault, according to them.' Gen Z, meanwhile, isn't nearly as fussy. 'If I just perform like the bare minimum of what I'm expected to do, we're good,' Giunchigliani said. Since the legal drinkers of gen Z haven't experienced bar culture for that long (the oldest in the cohort are 28) many of them don't know or care about certain bar rituals. Chloe Richards, who tends bar at dives in Brooklyn and Queens, New York, said gen Z is blissfully ignorant of 'buybacks', the old saloon tradition of getting a free drink or shot after a few rounds. (In 2019, the New York Post eulogized the ritual, saying gentrification and higher rents killed it off.) But 'old heads', as Richards calls her gen X-and-up patrons, come in expecting the quid pro quo. 'They think that after every three drinks, I'm supposed to give them a free one,' Richards said. 'That's not a real thing or a hard rule: it's a privilege. If you're a good customer or a patron, of course, but I don't owe anybody free anything.' Bartenders also said gone are the days when the youngest drinkers wind up the most wasted by the end of the night. Gen Z came of age during a seismic shift in drinking culture: they're imbibing much less than previous generations. This means the getting-sloshed baton falls to an older crowd. 'People in their late 30s to early 40s usually have higher tabs, but it comes at a cost,' said Dimitri Gellis, who manages the Chicago sports bar Fatpour Tap Works. 'They think they can still drink like they're in their 20s, but they can't hang. They'll order whiskey on the rocks like pros, but after a few they're holding onto the wall and they don't take it well when you cut them off.' Gen Z may be drinking less, but that doesn't mean their bar hangs can't last for hours – even if they don't keep ordering. 'Something that drives me fucking nuts is when they get like one drink and use that as an excuse to sit at the bar for five hours,' said a Brooklyn bartender who goes by Priz. 'Why go to a bar? One drink is not access to unlimited space at a place. You have to do a little more.' Gen Z's anxiety manifests at the bar counter, too: some of them haven't yet nailed the quickest way to order a round. 'What's most annoying to me is when people order their drinks one by one when they're in a group, especially when they all have to think about it,' Richards said. 'For me it's like, let's get it going, because you're slowing down the process. Get it together first before you get my attention.' Most bartenders say they understand why gen Z has a hard time in bars. Many spent formative going-out years in the wake of Covid restrictions. 'They're learning how to do this a bit later than the rest of us did,' Richards said. She gets it, but also that inexperience can mess with her tips. 'I think young people are just guessing numbers,' Richards said. Ultimately, bartenders say that there's no magic age for an ideal patron – their work headaches come from people of all generations. Phelps, the Pittsburgh bartender, added that overall, gen Z's looking for 'experiences' on nights out – it's not really about drinking anymore. In some ways, that makes them easier to serve. 'They want to look cute and take pictures,' she said. 'The sloppy behavior is just not there the way it was for us when we were younger. It's definitely better for the people behind the bar. But also, I'm always like, 'Have some fun! Do something stupid.''
The Hill
6 days ago
- Business
- The Hill
Growing number of Americans say tipping culture is ‘out of control'
Tip screens are everywhere now, and many consumers are fed up. According to a new Bankrate survey, 41 percent of Americans say tipping culture has gotten out of control — up 6 percentage points from last year. Among Gen Xers and baby boomers, that share rises to 45 percent. 'The high cost of living is a headwind, and many people resent all of the tip creep that has occurred in recent years,' Bankrate senior industry analyst Ted Rossman said in a statement. Pre-entered tip screens have become a particular pain point, with nearly two in five respondents saying they find them annoying. That negativity coincides with a rise in digital tipping tech, now appearing everywhere from takeout counters to coffee shops — even self-checkout machines at the airport are asking for tips. New payment terminals have made it easier than ever for businesses to ask for tips — a potential boost for workers — but they also allow employers to funnel more money to their staff without footing the bill, Rossman said. 'It's essentially a way to raise prices without actually raising prices,' he said. Many of those surveyed, 41 percent, said businesses should pay their employees better rather than relying so much on tips. Still, only 16 percent of respondents said they'd be willing to pay higher prices if tipping were eliminated. Older generations are more likely to hold negative attitudes about tipping, but they're also more likely to tip, Bankrate found. More than 80 percent of Gen Xers and baby boomers said they always tip at sit-down restaurants compared to 61 percent of millennials and 43 percent of Gen Zers. The generational tipping gap showed up across other services too, with older generations far more likely than younger ones to always tip barbers and rideshare drivers. As for the size of the tip, about one-third (35 percent) of respondents said they typically tip at least 20 percent at sit-down restaurants, though only 16 percent of Gen Zers said so compared to 49 percent of baby boomers. Bankrate's survey shows fewer Americans always tip compared to the height of the pandemic in 2021, but the post-COVID tipping backlash has mostly leveled off. 'While more Americans are complaining about tipping, the frequency of tipping is stabilizing after declining steadily in recent years,' Rossman said. Here is a breakdown of how many people always tip for various services in 2025, according to Bankrate: Bankrate's latest tipping survey was based on a sample of 2,445 U.S. adults and conducted between April 29 and May 1.
San Francisco Chronicle
26-05-2025
- Business
- San Francisco Chronicle
Millennials are finally catching up with older generations in this important measure
Millennials are less likely to own a home than the previous two generations — especially in the Bay Area. But that may be starting to shift. Just 30% of millennials in the San Francisco metropolitan area owned a home in 2023, data from the U.S. Census Bureau shows. That put them far behind the 55% of Generation X and 62% of baby boomers who owned their home — an especially large gap compared with most other large metro areas. But older millennials are starting to catch up with their predecessors. Millennials born toward the earlier end of the generation's 1981-96 range — those in their early 40s — are achieving homeownership at nearly the same rate as Gen X did at the same age, at between 40% and 50%. Gen X is defined as people born from 1965 to 1980. That thinning gap is true for both the U.S. and California specifically, an analysis of census data by Apartment List shows. But both generations trail baby boomers, who were born from 1946 to 1964. And with home prices and interest rates still high, experts acknowledge that some millennials may feel left out of their peers' recent rise in homeownership. 'It's all going to be shifted later,' said Eric McGhee, a researcher at the Public Policy Institute of California. 'Your first home is going to be later in life than it did before, because it's going to take longer to save up for a down payment. (And) you're going to have a higher income to afford a mortgage.' The Census Bureau's Current Population Survey doesn't include people who live in institutions such as hospice facilities and nursing homes. That could make some baby boomers' homeownership rate seem somewhat higher than it truly is. But that generation was indeed much more likely to own a home than Gen X or millennials — especially in the most expensive parts of the country. In the San Francisco metro area, baby boomers are more than twice as likely as millennials to own their home. In the Minneapolis metro area, most millennials are homeowners, and boomers are just 1.4 times as likely as those younger neighbors to own their home. It takes people in California much longer than those in most other states to own a home, according to a 2023 report by the UC Berkeley Terner Center for Housing Innovation. That wasn't the case before the 1970s, when a wave of restrictive zoning laws in California led to a major slowdown in housing construction — even as its population swelled — and prices began to rise rapidly. Millennials and Gen X were also hit hard by the 2007-09 recession, causing some members of Gen X to lose their homes and leading to a weaker overall economy for millennials entering the job market, said Rob Warnock, a researcher at Apartment List. In other words, millennials may be catching up, but they're catching up to a generation that had homeownership struggles of its own. The pandemic was another blow for many millennials, also known as Generation Y. Some were able to buy a home before prices and interest rates surged, leading to a wave of wealth for the generation overall. But many others were left out — and could continue to be. 'Both of those things are true,' Warnock said. 'We see the generation growing (in homeownership). We also see the generation kind of falling behind.'
Yahoo
18-05-2025
- Business
- Yahoo
4 ‘Necessities' Boomers Are Spending Money on That Could Harm Their Finances
When determining a budget, it's important to have a firm grasp on what is a 'necessity' and what is a discretionary expense. But sometimes the distinctions aren't so clear cut. Qualifying discretionary expenses as necessities can mean overspending on these items and utilizing money that's better off being put toward short- or long-term savings goals or debt repayment. This can be especially harmful for boomers, many of whom are retired and living on a fixed income. Check Out: Read Next: 'Most Americans, including boomers, likely know what constitutes a traditional 'necessity,' but it's human nature to want to spend on things that bring us joy, regardless of whether we can live with or without it,' said Courtney Alev, consumer financial advocate at Credit Karma. 'The more important decision for boomers to weigh is how their nonessential spending habits impact their budgets and ability to stay on top of their financial obligations.' Here's a look at the nonessential expenses boomers are most likely to consider necessities. A recent Credit Karma study asked Americans of all ages to share the top nonessential items and services that they consider to be necessities. Among boomers, the top choices were streaming services like Netflix and Hulu (29%), travel (23%), dining out (23%) and skin care and beauty products (22%). 'People are choosing to find comfort in spending on the things they enjoy, even amid economic uncertainty,' Alev said. 'However, it's important to audit your finances to be prepared in case of an unexpected expense or income change.' She recommended boomers audit their nonessential spending to find ways to cut costs. 'When deciding where to cut back, prioritize what brings you the most joy and value,' Alev said. 'For instance, if taking a vacation is how you want to treat yourself this summer, consider limiting how much you dine out or spend on skin care so you can allocate that spend toward an emergency savings fund instead. That way, you still get to treat yourself with summer travel while also building a financial cushion in case of an unexpected event or expense.' Discover More: Discretionary spending should be part of a boomer's budget — they just shouldn't let it take precedence over other financial priorities. 'My No. 1 piece of advice is to ensure you're prioritizing your financial security above all else,' Alev said. 'Before you spend on your wants, make sure you're prioritizing reducing or eliminating any high-interest debts and that you're actively saving for a rainy day. Consider gamifying the progress you make on your financial goals, such as treating yourself to a meal out with friends once you've achieved your savings goal for the week.' In general, boomers do tend to be responsible spenders, Alev noted. 'We know from our study that most boomers are thinking rationally about their nonessential spending,' she said. 'A majority (87%) say they will strongly consider cutting back on their nonessential spending if their financial situation worsens in the coming months, and 84% are not willing to take on credit card debt in order to maintain it.' More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 7 Luxury SUVs That Will Become Affordable in 2025 5 Little-Known Ways to Make Summer Travel More Affordable Mark Cuban Tells Americans To Stock Up on Consumables as Trump's Tariffs Hit -- Here's What To Buy Sources Credit Karma, 'New Necessities: Young Americans redefine essential spending amid economic uncertainty' This article originally appeared on 4 'Necessities' Boomers Are Spending Money on That Could Harm Their Finances Sign in to access your portfolio
Yahoo
23-03-2025
- Business
- Yahoo
Is Pfizer Inc. (PFE) The Best Healthcare Dividend Stock to Invest in?
We recently published a list of . In this article, we are going to take a look at where Pfizer Inc. (NYSE:PFE) stands against other best healthcare dividend stocks to invest in. The US healthcare sector has been at the forefront since the emergence of COVID-19 in 2020, leading to a significant transformation in the industry. The rise of telehealth, virtual consultations, and technological advancements has reshaped the way healthcare services are delivered. Over the past two decades, the healthcare sector has expanded considerably in relation to the broader economy, as reflected in its growing share of gross domestic product (GDP). According to a report by CNBC, in 2003, healthcare spending made up 15.7% of US GDP, increasing by approximately 1.7 percentage points over the next decade to reach 17.4% in 2013. Today, it is estimated at around 18.4% of GDP, and projections from the Centers for Medicare & Medicaid Services suggest it could rise to 20% by 2030. This steady increase is driven by several factors, including rising demand for healthcare services, advancements in medical technology, and escalating costs. The aging population, particularly as baby boomers retire, has significantly increased the need for medical care, while longer life expectancies have resulted in prolonged healthcare utilization. In addition, the prevalence of chronic conditions such as diabetes, cardiovascular diseases, and obesity has contributed to rising costs. The latest breakthroughs in diagnostics, treatments, and pharmaceuticals—though beneficial—often come with higher expenses, further fueling the sector's expansion. The healthcare industry's share of the overall economy has expanded, with healthcare companies experiencing faster revenue growth than the broader market in the past five years. During this period, healthcare sector revenues have increased by nearly 61%, compared to just over 38% growth for the broader market as a whole, as reported by CNBC. However, despite this strong revenue performance, the healthcare sector has lagged behind the broader market index, which has been driven by the rapid expansion of the technology sector. The healthcare sector faced a turbulent year in 2024. During the first half, investors gravitated toward industries such as technology and communication services, particularly those linked to the growing influence of AI, leaving healthcare stocks trailing behind. However, as the market rally broadened in the second half of the year, healthcare stocks saw some recovery, though certain segments continued to struggle with lingering supply-and-demand imbalances from the pandemic. Beyond these challenges, fundamental issues and policy uncertainties created additional obstacles for parts of the sector. While some regulatory pressures may ease with the incoming administration, others—such as drug pricing concerns—are expected to remain a persistent issue. On a positive note, innovation remained robust throughout the year. Biotech companies delivered a series of encouraging clinical updates while growing enthusiasm for new treatments targeting obesity and diabetes contributed to an increase in pharmaceutical firms' market valuations. A Fidelity report suggested that the healthcare sector is well-positioned for growth in 2025. The industry benefits from strengthening business fundamentals, such as rising cash flows, and encompasses a diverse range of segments that offer a blend of defensive stability and growth potential, making it appealing across different market conditions. The healthcare sector is also attracting attention due to its rising dividend payouts. In the third quarter of 2024, total dividends distributed by the global healthcare industry reached $25.7 billion, up from $18.7 billion in Q3 2018, reflecting steady growth in shareholder returns, according to a report by Janus Henderson. Given this, we will take a look at some of the best dividend stocks in the healthcare sector. For this list, we scanned Insider Monkey's database of Q4 2024 and picked healthcare dividend companies. From that list, we chose healthcare stocks with a strong track record of paying dividends to shareholders, which makes them resilient in the current environment. The stocks are ranked in ascending order of the hedge fund investors owning stakes in them, according to Insider Monkey's database of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A medical technician wearing protective gloves and a mask mixing a biopharmaceutical solution. Number of Hedge Fund Holders: 92 Pfizer Inc. (NYSE:PFE) is a New York-based pharmaceutical and biotech company that specializes in a wide range of related services and products. The company reported a 12% operational revenue increase from its non-COVID products over the past year, showcasing its commitment to strategic execution. It successfully met its $4 billion net cost savings target through an ongoing cost realignment initiative and has now raised its goal to approximately $4.5 billion by the end of 2025. In addition, under its Manufacturing Optimization Program, Pfizer aims to achieve $1.5 billion in net cost savings by 2027, with the first benefits expected in the latter half of 2025. The company remains confident in its ability to restore operating margins to pre-pandemic levels in the coming years. Pfizer Inc. (NYSE:PFE) has also focused on strengthening its presence in oncology, which was highlighted by a significant $43 billion acquisition of Seagen to enhance its cancer treatment portfolio. The company expects substantial growth in this segment over the next five years, with plans to double its patient base by 2030 and introduce at least three blockbuster drugs, each projected to generate over $1 billion in annual sales. Its progress in oncology is already evident, with revenue from this segment rising 25% in 2024. Pfizer Inc. (NYSE:PFE), one of the best dividend stocks, offers a quarterly dividend of $0.43 per share, having raised it by 2.4% in December 2024. The stock offers an attractive dividend yield of 6.58%, as of March 20. It has been growing its payouts for 15 consecutive years. Overall, PFE ranks 5th on our list of best healthcare dividend stocks to invest in. While we acknowledge the potential of PFE as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than PFE but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and Disclosure: None. This article is originally published at . Sign in to access your portfolio
