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Your Birth Year and Your Bank Account: The Connection I Never Saw Coming

Written by

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Tracey Burns

Published on

April 2, 2025
Blog
Money Talk, young boy holding money and a car.

I love that moment of awareness when you realize something that you previously didn’t know, that changes everything. Sometimes it’s how you thought you were communicating or leading vs how the people you lead actually perceive you. Sometimes it’s an experience in life, a new piece of information, or something you never thought to ask that transforms your situation forever. What I’m describing are one of those, wow moments of, “I didn’t know to ask or even question”.

For example, when I found out women were paid less than men, that there was a Gender Pay Gap, I honestly had no idea that was a thing. When I think of the cost of all those years of crappy self talk that I spent thinking that maybe I wasn’t as bright as my male colleagues or didn’t work as hard, ouch!

Or when I found out that the year I was born had a hand in determining my financial future. The Psychology of Money by Morgan Housel discusses how the year you were born—and precisely, the economic conditions during your formative years—shape your financial mindset and risk tolerance.

The key idea is that people develop their financial beliefs based on the economic environment they grew up in, particularly in their teens and early adulthood. For example:

  • Someone who came of age during a booming economy tends to be more risk-tolerant and optimistic about investments.
  • Someone who experienced a recession or financial crisis (like the Great Depression or 2008) may be more cautious, risk-averse, or even fearful of markets.

I know that personal experience rather than objective data often drives financial behavior. Two people with the same resources might make entirely different money decisions simply because they grew up in different economic conditions.

Housel’s takeaway: Recognizing this bias can help you make more rational financial decisions instead of reacting emotionally based on past experiences. Well yes, that’s the work I do with clients but I’d never thought of year of birth in the realm of finances.

I am conscious of my cultural and familial influences and have done deep work to become more aware of them and how they influence my choices and relationships. I never thought of considering the economic times I was born into!

Have you?

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