The internet is a defining feature of modern life, shaping how people communicate, learn, and perceive the world. However, its impact varies dramatically across generations due to the age at which individuals were introduced to technology and how deeply it was embedded into their daily lives. This generational divide not only influences how the internet is used but also its effects on cognitive development, communication skills, and susceptibility to external influences.
The Detriments of Early Exposure to Digital
Technology
Introducing children to technology too early in life has profound and far-reaching consequences. From shortened attention spans to impaired social skills, the repercussions of excessive screen time are reshaping childhood development.
- Cognitive and Emotional Development:
- Research has shown that excessive exposure to screens, especially during formative years, can hinder the development of critical thinking and problem-solving skills. Children may become reliant on instant gratification from technology, reducing their ability to engage in deep focus or delayed gratification.
- Emotional regulation can also be affected. For instance, children exposed to highly stimulating digital content may find it harder to manage boredom or engage in unstructured, creative play.
- Social Skills and Communication:
- Early reliance on digital devices can limit opportunities for face-to-face interaction, a critical aspect of learning social cues and empathy. According to a study published by the American Academy of Pediatrics, children who spend significant time on screens often struggle with non-verbal communication and emotional recognition in others.
- Adults who grew up with technology from a young age may also face challenges in establishing deep, meaningful connections, relying instead on the shallow interactions that social media often fosters.
How Technology Shapes Learning and Information Perception
The internet has revolutionized access to information, but it has also introduced pitfalls that impact how individuals, particularly younger users, perceive and interact with knowledge.
- Instant Information vs. Critical Thinking:
- While the internet provides unparalleled access to knowledge, the ease of finding answers online can discourage critical thinking and problem-solving. Younger generations often skim for information rather than engaging deeply with complex ideas or texts.
- Studies suggest that this approach to information consumption may lead to a shallow understanding of topics, as users prioritize convenience over comprehension.
- Susceptibility to Misinformation:
- The digital age has made it easier than ever to disseminate misinformation. Younger generations, who are often exposed to user-generated content on platforms like TikTok and Instagram, may struggle to differentiate credible sources from unreliable ones.
- Without proper media literacy education, both children and adults risk being unduly influenced by biased or false narratives, shaping their worldview in potentially harmful ways.
The Role of Reading in Combating Bias and Building Critical Thinking
Reading books and well-researched journalism plays a vital role in counteracting the biases and shallow consumption habits fostered by the internet.
- Developing Critical Analysis:
- Unlike social media or search engines, books and reputable journalism require sustained attention and offer nuanced perspectives. This depth encourages readers to think critically, analyze different viewpoints, and form well-rounded opinions.
- Engaging with diverse sources of information, such as international news outlets and long-form articles, can also challenge personal biases and broaden understanding.
- Strengthening Cognitive Skills:
- Reading is a mental exercise that improves vocabulary, comprehension, and focus. These skills are crucial for both academic success and effective communication in personal and professional settings.
- A 2020 study by the National Literacy Trust found that individuals who read regularly are better equipped to evaluate information critically, making them less likely to fall prey to misinformation or manipulative content.
Balancing the Benefits and Harms
The internet is a double-edged sword. It can connect people, democratize access to knowledge, and foster innovation, but it can also harm cognitive and social development if not used responsibly. Generational differences in internet usage reflect broader trends in how technology is shaping society.
To mitigate these harms:
- Parents and educators can introduce children to technology gradually, ensuring they develop foundational social and cognitive skills before relying on digital tools.
- Media literacy programs can help individuals of all ages critically evaluate the information they consume, reducing susceptibility to biases and misinformation.
- Encouraging the habit of reading books and diverse news sources can create a more informed and resilient population.
What Does This Have To Do With Financial Planning?
In this digital age with endless information at your fingertips and an increasing number of options to improve convenience, it is tempting to take a more active role in your financial management. Everything you need to know can be found on the internet. Robo-advisors will manage your assets for cheap. It seems like it would be easier than ever to do everything yourself. From our perspective, working with a highly qualified advisor is more important than ever.
There is so much information to sort through and it is hard to know what questions to ask. Some people think educational designations are less important than ever because everything you need to know is online. I think it is the opposite. The three most important designations for client-facing advisors in the financial industry are:
- CFA – The most respected designation for portfolio construction and portfolio management.
- CFP® – The most comprehensive financial planning designation available.
- CPA – The most recognized designation for tax planning and tax preparation.
One of the major differences between these designations and the many others is that these three require the passing of a comprehensive exam before the designation can be used. Advisors who battle through and earn these designations prove not only that they know how to put together what they have learned, but also that they are more committed to serving their clients to the best of their abilities than advisors who do not have these designations. Many advisors who lack designations claim to have equivalent knowledge and experience. If that is the case, take the test and prove it. I’m not saying it is impossible, but it would be really silly to do all that studying without taking the test and using the designation.
Change: A Constant of the Human Condition
The challenges posed by the internet are not unique in human history. From the printing press to the industrial revolution, technological advancements have always required societies to adapt. We are facing the same type of conundrum in society right now with the increasing prominence of artificial intelligence. We Millennials are often referred to as the “canary in the coal mine,” are at the forefront of this adaptation. They bridge the gap between analog and digital worlds, highlighting both the promises and perils of our increasingly online existence.
Growing up in a world with home phones and antenna T.V., millennials relate to the simpler times when there was less tech, and the new era of tech intertwining with every aspect of our lives. My father and grandfather used to read the newspaper every morning when I was growing up, national cable news didn’t exist, and my grandfather used to spend a lot of time on the porch doing nothing but “watching the world go by”. Life moves at a slower pace when we are not exposed to every problem in the world all day every day.
As society continues to navigate these changes, embracing critical thinking, fostering meaningful communication, and balancing digital and offline lives will be essential for ensuring the internet remains a tool for growth rather than a source of harm. Change, after all, is an inevitable part of the human condition, and how we respond to it defines our collective future.
