Modern history repeats itself every four generations; approximately 80–100 years.
The first one, the High cycle, occurs when a new order or human expansion is developed, replacing the older one. The next cycle is called the Awakening. More spiritual than the previous, this is a time of rebellion against the already established order. The third cycle is known as the Unraveling, when elements of individualism and fragmentation take over society, developing a troubled era which leads directly to the Fourth Turning, an era of crisis dominating society during which a redefinition of its very structure, goals, and purposes is established.
Each cycle has its archetypes, the four having the following one defined as: Prophet, Nomad, Hero, and Artist. Millennials (that's another term for Gen Y) belong to the Hero category, featuring a deep trust in authority and institutions; being somewhat conventional, but still powerful. They grew up during an Unraveling cycle with more protections than the previous generation (Gen X). They are heavily dependent on team work, and thus, when they come of age, turn into the heroic team-working young people of a Crisis. In their middle years, they become the energetic, decisive, and strong leaders of a High cycle; and in old age, they become the criticized powerful elders of an Awakening cycle. Another previous generation that belongs to this category is The Greatest Generation (1916–1924).
So that's another 'passing of the torch' instance. Just like how now, I am growing out of my teenage years (I've but a few months left before I'm officially an adult), as I watch people younger than me grow up and go through things that I went through.
It does make me nostalgic to think about the times when I was in their position, and that I can never reclaim it again unless someone creates a time-travelling machine right now. And I will begin to grow up, enter adulthood, and begin telling people 'I speak from experience when I say...'
I just hope that I'm the adult that people look up to and want to take advice from.