Other than making sure we were educated, I think most of our parents generation didn't really have much idea unless they were the wealthy and educated bunch. But yeah, like you say, most of us didn't turn out too bad, guess we were lucky and times were a bit easier in our generation growing up. Nowadays it's a lot more competitive in the real world.
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Yes, our "job" was to study and figure out things on our own.
Now, the generation get so much advice and maybe information overload and some are still lost.