Different generations have different tastes and preferences. What is also different is the time at what people invest. The people of past generations such as our grandparents started working when they were 21-23 years of age. Right from the time they started earning, they started saving as well.
This is because they knew that there were no finance options and even if they were there, they were rather hard to come by. Moreover, the sooner they started saving, the more they would have saved as well. With our generation, this has changed as most of us start earning by the age of 25-26.