Yes, in terms of financial conservatism (they have more to lose), and in terms of not keeping up with social progress (fearing young activists). That's them getting relatively more conservative, compared to the moving society around them.

But people don't generally slide back from what they experienced as kids. A LOT of 18- to 25-year-olds today grew up as a kid in a society where it is acceptable to have friends from lots of ethnic backgrounds, to have friends who are gay or trans, to believe that women should be equal to men in society, etc. They're not going to lose that as they age. That's their base concept of "normal."