To me the recession isn't a bad thing but then it is. I am 20 I invested my life savings into a small car lot in 2008 right before the recession. Because of the recession I am able to look at buying a small home to fix up and hopefully sell in a better market. Three years ago that would have been less possible. On the flip side, my business relies on local trade-ins from local dealers. Less new cars sold=less trade-ins. My business could be much more profitable if I could sell at a higher volume, but the recession is preventing that. The recession gives me future opportunities (home buying) but to reach those goals in purchasing a home, my current opportunities (my business) need to profitable. Currently, I am not thriving.
Johnny Houseman
of MI
@
Nov 11, 2009 14:47:23 PM
One other thing
You have the baby boomers selling out these young people's future in the form of massive debt for things like health care programs (all well and good but we can't afford it now, much less keep paying for it), defense spending, etc so they can feel secure when it requires massive amounts of debt that the young people coming out onto the job market now will have pay back in taxes and other things when most of the people that benefit will either be retired or dead. They have no such thing as social security to look forward to. They have to have it now and don't take responsibility for their own lack of retirement or financial planning, its the same mindset and risky behavior that put the economy in the boat its in. People looking at this quarters numbers or what they can get now rather then what it will cost down the road.
People are hurting for a lot of different reasons. It does not matter if your young or old. If most people handled their finances correctly and not carry a ton of consumer debt we would all be just fine. The real estate market downturn made it possible for me to buy my first house. When it comes to 401k, the money you put into it the more stocks you will be able buy because of low stock prices. So when the market starts to rebound like it has latley you will get more return as long as you do your due diliagence and pick stocks and funds you know about.
chris
of GA
@
Sep 14, 2009 07:32:43 AM
Housing Crash
She neglects the fact that the previous generation walked us right into this housing crash that supposedly would've been too expensive. The failure on many young folks credit and confidence to know they can be successful.
The price of eggs and milk would've made everyone broke just the same as the rest of the young folk.
Last time I looked, the country was shipping jobs offshore.
Price of tuition is still continuing to climb.
Stocks? 401K? Is she serious?
Joshua J Owen
of IN
@
Jul 13, 2009 21:19:37 PM
Damn trade deals!!!!!!!
So, this is the result or aftermath of the North American Free Trade Agreement? Or as George H. W. Bush called it the beginning of the New World Order. Take a bow to the corporate gods? Hell no, I say spit in their faces!
Samuel L. James Jr.
of NY
@
Jul 06, 2009 15:42:40 PM
The best things young people can do are
1) Get health care reform (with a public option) passed now--so they will not otherwise be medically priced out of affording to have a family of their own (ever) in the future
2) Make sure that Social Security and Medicare are not gutted--so they protect the financial stability of their parents and grandparents and preserve the possibility of even modest inheritances from those generations
Young people are the ones enabling the liberals in government--and young people are the ones who had better hold those liberals' feet to the political fire. If they don't, they are going to be "suffering" permanently.
Muser
of NM
@
Jul 06, 2009 13:19:42 PM
does the unemployment rate include people like me?
I had a decent part time job that I had to leave when I graduated from grad school, as I had to relocate back home. I have no job (and it's not for lack of looking). Right now my best bet is to volunteer full time in the field and hope a paid job comes along.
Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.
Johnny Houseman of MI @ Nov 11, 2009 14:47:23 PM
David of NC @ Oct 08, 2009 15:56:06 PM
David of NC @ Oct 08, 2009 15:51:31 PM
chris of GA @ Sep 14, 2009 07:32:43 AM
Joshua J Owen of IN @ Jul 13, 2009 21:19:37 PM
Samuel L. James Jr. of NY @ Jul 06, 2009 15:42:40 PM
Muser of NM @ Jul 06, 2009 13:19:42 PM
veronica of NH @ Jul 06, 2009 12:18:05 PM
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