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Dont have to, I live it everyday, friend.
Never went to college, never felt I had to.
EDITED: Nevermind. Isnt worth it.
Honestly, my financial life is kind of ed, from taking too long to finish school, my dad got ed because he worked for three different companies that went under, taking any penion/retirement he might have had with them.
It is almost too late for me, but I will damn well be sitting down with my boys at some point and showing them the kinds of financial planning I never got at age 12-19.
I think a lot of people are going to realize that they are living beyong their means, and we are going to see a sustained pullback in consumer activity as a result. The ecomomy will putter along as a result, in a kind of self-feeding cycle.
A host of things have come crashing together, globalization, automation, bubbles, etc, to create some rather new cir stances we have never faced before.
It really does suck to be under 30 at this point. Sorry.
40-ish works out well, because the boomers are getting to old to work, and a lot of en ies need skilled, experienced workers to step into the jobs vacated by those retiring. It will cascade down a bit to the entry-level jobs at some point, but by then the economy will have stagnated for a good chunk.
Dont have to, I live it everyday, friend.
Never went to college, never felt I had to.
EDITED: Nevermind. Isnt worth it.
All this "lowered expectation" certainly gives me pause since part of my retirement plan has always been that when I got ready to downsize that my current house would sell for a load of money. If the generation behind us doesn't give a and care about "stuff" then who is going to buy it?
The overwhelmingly largest and draining demographic is dying off. I do not believe this to be the case in the long run but unfortunately its going to get worse before it gets better.
Things are going to change. I can feel it. This younger generation works very hard when given a task. What people like DR do not understand is that at udes such as his are just conditioning them to reject the systems and values of their forebears.
The whole real estate market of the last 30 years has been unsustainable. Real estate values for CENTURIES have been very closely related to income. The jerrymandering and then exploitation of markets needed to stop.
At some point a house went from an asset to an investment and that is just not sustainable.
DR
Oh. Holy. .
Poetry degree?
Seriously. If you have debt from "earning" a poetry degree, Darwin should have had his way with you long ago. Poetry degrees are for people who have rich parents, and jobs in the family business BEFORE they pick a major.
Eh, I considered mine to be an investment. Oh well. Worst case I'll doze the house and build condos there.
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Good that that's worked for you. It doesn't for everyone. And it's not always because of their haircut.
It actually did not produce real self esteem. What it created was a bunch of people who think they are better at things than they actually are and who fall apart and give up when the truth finally hits them in the face.
I am not in the 20-30 group but I have many relatives and co-workers who are. The biggest issue I see with many of them is that they expect it all immediately. They expect the house their parents took 25 years to own. They think they should make what supervisors make who have been there 25 years. They overspend so much, especially on gadgets. I survive with a plain cell phone and 10-year-old mid-range car, and they buy every new I-Phone and have a 2-year-old SUV with a 6-year payment plan. I did not even have cable TV (and basic at that) until 7 years after I graduated from college. I continue to this day to bring my lunch to work- always have- while they spend about $10 to go out to lunch everyday. Many of them have no idea how to live frugally. They think they deserve it all.
You honestly think the problem is that they don't care about stuff?
You know what people my age don't care about?
Social Security and Medicare
because you're generation has turned essential things like housing and retirement into investment schemes with grandiose failure. You confusing apathy to participate in your generations grand f* ups as not caring.
It's like almost any time a baby boomer talks you could just replace it with diarrhea coming out of their mouth to the same effect.
I think we are, in general going to scale back our housing expectations quite a lot.
Houses for the cost of a mid-sized sedan.
Prolly drive my wife nuts...
If houses don't get the kinds of returns they did, why spend money on it?
Who needs a 30 year mortgage for something like this? Better to stick the extra cash into an IRA.
Because something worked for you 30 years ago, its going to work for everyone everywhere? Your blanket dismissals are cute and all but just smack of naivete.
So go ahead and get it over and shoot yourself you little . WaaaWaaaWaaa
You should. You will be paying for it.
, you still might even get to collect some of it.
Thank god for all those children of illegal immigrants. Yeah, I went there.
I am 31 and I feel differently than these kids, which is not to say that the economy isn't kicking my ass. The difference here is that I have an internal locus of control (yes I knew that term before reading the article). Additionally, in my early twenties I made some very stupid decisions/mistakes and I guess that I have felt that all of my struggles have been some kind of payback for those personal mistakes (though they are 8-10 years ago). I understand that is a little self-defeatist in nature (and I don't have a problem with self-confidence), but it is the way I think about it. It is also literally true to some extent because I have to answer certain questions on an application that others don't. All I can do is work my butt off, educate myself, and keep trying.
However, that excuse is starting to fade. 1.75 degrees, 2 kids, a wife, and a house later, I am a far different person than I was a decade ago. Basically, the professional stagnation of the last 5 years (and the non-responsiveness to my inquiries into the job market) is frustrating.
I do, however, realize that I should cherish the fact that I have a good job and that I am not in financial dire straits (at least until I graduate - LOL) and I do, but I am far more ambitious than my current position and - financial rewards notwithstanding - I need a different job just so I don't kill myself.
They expect it all immediately? What do you think all the mounting debt derives from. Get it now pay later.
I think some serious generational introspection is needed. The current power structures policy making has created these problems. The at udes of 20 year olds are not what need to be evaluated.
Our leadership sucks ass in this country. There is a fairly consistent demographic in it.
I agree. We need more.You should. You will be paying for it.
, you still might even get to collect some of it.
Thank god for all those children of illegal immigrants. Yeah, I went there.
I agree. Those 40-70 year old assholes ing everything up...
FYI, a house for $2,000:
Heh, I wish y'all luck in fixing this that we have sorely broken. Sorry. Get with my 8 and 5 year olds to plan a solution. (not being snarky, just thinking ahead, you will need allies)
Incidentally, I think it's important for twenty-somethings to be realistic about the job market they'll be entering and the fact that a degree in poetry likely isn't going to result in a high paying job right out of college. There does seem to be a sense of en lement in college aged students that is even more pronounced than in my own generation and that I think is far removed from reality. Too much time spent moaning about what one "deserves," for instance. (Though, admittedly, it's hard to blame them entirely when for generations this country has preached that a college degree will lead to a good job).
That said, I think it's unfortunate that anyone should be punished or placed at a distinct disadvantage for choosing to pursue an educational field that's not aimed at dollar signs. As I know I've said around here before, education should not just be a means to an end. To blame someone for choosing a "frivolous" degree is a tad ridiculous, as is telling them to suck it up and quit ing while looking for a job. Just because you (or I, or anyone else) don't personally find a degree in poetry valuable doesn't mean that the person who's gotten one doesn't have a legitimate reason to be disappointed that their hard work may have been for naught.
I know people with decent GPA's and mechanical engineering degrees that are having to go back to school because there choices are work for free or don't work at all.
I know its fun to point at the sociology degree holder and ridicule but its tough all over.
Yeah, my retirement house with be a modest sized but super high tech off the grid house.
super high tech
meh. That smacks of a cop out. that age is just at the front end of the power structure. I am talking about those that have entrenched themselves over the last 30 years many of which are already out the back end.
You are in a position of opportunity.
The minimum age of president has somewhat been an unconscious delineator and its obvious if you look at the history of ages in political and
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