The first time I encountered Alex Fisher was on a blogging conference call, set up by Brazen Careerist. We get on the line for a chance to talk to Penelope Trunkwith a few other Gen Y bloggers and no one else dials in. On one hand, I was pretty annoyed – who do these people think they are to stand up Penelope Trunk and a chance to have their blogging questions answered. On the other hand, it was great – Alex and I had a great opportunity to ask lots of questions and get individualized attention (and who doesn’t love attention)!
I hope you enjoy Alex’s guest post today, Is being a Yuppie so bad? It is a fun take on an uncomfortable title.
What is a Yuppie?
I’ve heard people use the word ‘yuppie’ referring to other people, sometimes referring to me. I’ve heard it used with both negative and positive connotations, too. I set out to determine what a yuppie really is today and if I am one.
From Wikipedia: The term yuppie (short for “young urban professional” or “young upwardly-mobile professional”) refers to self-reliant, financially secure individualists, particularly from the upper-middle class.
Am I a Yuppie?
Alright, so reading the first definition I can see that perhaps describing me. I am a young upwardly-mobile professional as I have gone from being a college student living at home working part-time to living on my own working full-time and more.
Self-reliant? Totally, at least, as self-reliant as a human can realistically be in this world. I don’t have delusions that I can get by in the world alone without the help of anyone else. Friends and family are important and support me in what I do, but I realize it’s up to me to do those things that are important to get done.
Financially secure individualist? Yeah, totally. I have some student loan debt and who knows where this economy is going in the next few years, but I’ve been saving money and enjoy my old shoes and old car still. I don’t have the latest and greatest luxuries and gadgets most of the time, and I mean come on– I started a finance blog. I’m a personal finance nerd!
Upper-middle class? Well, taking opinion out of it I decided to type my salary into Global Rich List and get an idea of where I fall in line of the richest people in the world. Chances were just by being American I would rank high so I looked at where the average family making $50,000 / year is and compared myself to it. It will suffice it to say I’m at least middle class and probably close enough to upper-middle class in terms of income.
So, according to Wikipedia’s definition I fit the description of being a yuppie and have no need to ashamed of it.
What else could yuppie mean?
Top entry of many on Urban Dictionary: a very arrogant well put together young urban professional who you more than likely will find wearing Gucci and prada with a large bank account which they love to brag about. You can find them drinking Starbucks, living in a one bedroom apartment in a city where they will pay 1000-2000 a month for and spending another 3000 a month on their credit cards. They brag about their designer clothes and love to flaunt them , as well as their wealth. They look down upon anyone who isn’t as wealthy or high status as they are. Men are likely to be found wearing designer suits, Gucci preferably with slicked back or well cut hair. The women will be wearing Prada/Gucci and Fendi. The most arrogant conceited f**ks on the planet.
The entry went on to give most of the characters in the excellent movie American Psycho as examples of yuppies.
Wow, so that description of a yuppie is most definitely not one I’d like to associate to myself. And certainly, when the term was coined in the 1980s and was aimed more at young urban professionals with an arrogance to match their over-inflated wallets the negative connotation of the word could be assumed.
I think what’s illustrated in these two different definitions is that the term yuppie means different things to different people in different times.
The definition of yuppie is changing
I’m under the impression the term is losing it’s negative connotation and is evolving to represent young professionals who are trying to do well and lead the way for our generation to take responsibility for the world in which we live.
It seems like some of the initial negativity in the term yuppie could have been caused not only because of the prideful spirit of the young urban professionals, but because of the jealousy of the people lacking less money, objects, and social status than the yuppies of the 80s.
Today, I look around and see lots of new luxury cars on the road, people wearing brand new $50 t-shirts that were designed to look old, expensive sunglasses, a Starbucks on every corner, and lots of expensive martini bars. These aren’t necessarily bad things, but I think the culture has moved from jealousy to trying to emulate the living large style and delusions of the original yuppies. At one time, if you had a cell phone that automatically made you a yuppie. The term has since lost it’s original meaning as the quality, or perhaps excess, of everyone’s life has grown.
So, sure I like a good expensive martini sometimes. And even though I’ll drive my current Ford Focus into the ground past it’s current 102,000 miles I will eventually get a new car– maybe even a fancy full size one! However, I lack much of the delusion and pride of the original yuppies and think others like me are out there too.
Generation Y and the new yuppies
Many of us in our 20s and 30s are self-reliant individualists, have money in the bank or a 401K, work hard and are doing better than our parents, and realize we have it better than a lot of people. We do these things and live this lifestyle not thinking we are better than everyone else who has less, but realizing our efforts help influence our luck and take responsibility for the direction and success of our own life.
We are the new yuppies and I’m not ashamed to admit it.
Alex Fisher rants periodically on his personal website Young Professional Finance Blog. You can read more about saving, investing, and financial ideas for and by young professionals on YPFB.
Scott said...
1At our age, the next generation of “haves” and “have-nots” is being formed and separated. I would define yuppie as anyone who has enough foresight and self-esteem to get their shit together in their twenties.
Economists tell us that avoiding poverty means three things:
1. Finish high school.
2. Marry before having a child.
3. Marry after the age of 20.
To some unfortunate people these things appear near impossible. Not to yuppies. Yuppies figure these things out and move on to bigger and better things with their internal locus-of-control.
The absolute level of household income is less important, but being “self-reliant” is key. God, what a concept. I thought that was the whole point of adulthood. But you will indeed generate a lot of envy and scorn for being so “self-reliant”.
10/21/08 10:40 PM | Comment Link
Dorie said...
2@Scott – Do you think the first item on that list (Finish high school) will change to “Finish an undergrad”? Many of the suburban families I know who have not avoided poverty have their high school degrees.
10/22/08 6:36 AM | Comment Link
Alex Fisher said...
3Thanks for the comment Scott. You make a good point of adulthood– I thought the whole point was being self-reliant also.
10/22/08 1:49 PM | Comment Link
Is Being A Yuppie So Bad? - Finance Guides & Articles said...
4[...] was recently asked to write a guest post by fellow Brazen Careerist writer Dorie Morgan. I decided to explore and write about what a yuppie [...]
11/19/08 7:21 AM | Comment Link
Finance Guides & Articles » Blog Archive » Is Being A Yuppie So Bad? said...
5[...] was recently asked to write a guest post by fellow Brazen Careerist writer Dorie Morgan. I decided to explore and write about what a yuppie [...]
11/19/08 7:55 AM | Comment Link