*steps off lawn*
http://www.suntimes.com/lifestyles/2195700,CST-NWS-geny24.article# (http://www.suntimes.com/lifestyles/2195700,CST-NWS-geny24.article#)
QuoteApril 24, 2010
SUN-TIMES STAFF, GANNETT NEWS
"Generation Y" -- some 50 million teens and twentysomethings -- is the first generation in a century that is unlikely to end up better off financially than their parents, according to a recent research report.
Even before the recession, those in Generation Y faced a range of financial pitfalls as they embraced expensive high-tech gadgets and added credit card debt on to student loans.
Now, stagnant wages, job insecurity, the decline in employer-sponsored health insurance and retirement benefits, the rapid increase in basic expenses, soaring debt and minimal savings have jeopardized the economic security of the entire generation, according to the report by Demos, a public policy research and advocacy think tank.
"The recession has hit them hard," says Jose Garcia, associate director of policy and research at Demos, based in New York. "It affects their income potential, their saving potential and their career-ladder potential."
No standard definition for Generation Y exists, but analysts generally classify anyone born from the 1980s to 2000 as members. Their plight seems as much created by members' pre-recession personal finance habits as by the misfortune of coming of age as the recession took hold in December 2007.
On average, Gen Yers each have more than three credit cards, and 20 percent carry a balance of more than $10,000, according to Fidelity Investments.
The generation is graduating from college with an average of $23,200 in student debt, according to the most recent data from the Project on Student Debt. That's a 24 percent increase from 2004.
"They have high, unrealistic expectations," says Lee Jenkins, author of Lee Jenkins on Money and a managing partner of Atlanta Capital Group in Atlanta. "And many of them don't manage money very well."
And the unemployment rate for Gen Y remains much higher than the national rate. In March, the national rate was 9.7 percent, compared with 18.8 percent for workers younger than 25, according to the Bureau of Labor Statistics.
"The economy has given them a dose of reality," says Jenkins.
And unlike their parents, who had the G.I. Bill and pension plans, those in Generation Y have few safety nets.
Faced with financial setbacks, Gen Y members are starting to be more realistic. More than half of them, 55 percent, say they are watching their spending very closely now, up from 43 percent in 2006, according to the Pew Research Center.
QuoteTHE TROUBLE WITH GENERATION Y
* Only 58 percent pay monthly bills on time, a National Foundation for Credit Counseling 2010 survey found.
* They are the least likely of any generation to be covered by health insurance. Just 61 percent say they were covered by some form of a health plan, according to a Pew Research Center study released in February.
* Nearly 70 percent of Gen Y members are not building up a cash cushion, and 43 percent are amassing too much credit card debt, says a November MetLife poll.
* Sixty percent of workers 20 to 29 years old cashed out their 401(k) retirement plans when they changed or lost jobs -- typically a big financial no-no because such a move squanders retirement assets and forces the recipient to pay a tax penalty, an October study by Hewitt Associates said.
* About 37 percent of 18- to 29-year-olds have been underemployed or out of work during the recession, the highest share among the age group in more than three decades, according to the Pew study.
Please allow me to be smug sitting on the mercenary money I collected fighting in Mesopotamia in the Bush Crusade. ^_^
I don't have 10 000 in debt. Hell, I have maybe 1k in debt.
Fucking hippies.
As a member of Generation X, all I have to say is boo fucking hoo.
Quote from: FunkMonk on April 24, 2010, 11:39:23 AM
And unlike their parents, who had the G.I. Bill and pension plans, those in Generation Y have few safety nets.
Isn't the GI Bill still around? And I think most Gen Y parents weren't old enough to have been drafted
i know two people how have already declared bankruptcy before the age of 26, and a bunch more that are in magor (non-school related) debt.
A lot of people are stupid. Modern society offers more potential for the stupid to be punished. Meh.
Quote* Only 58 percent pay monthly bills on time, a National Foundation for Credit Counseling 2010 survey found.
Strikes me as very odd.
Regularly? You can do that?
I've missed some on occasion of course. But then most people have.
Chronic credit card debt is the mark of a complete fucking idiot. :)
Quote from: Caliga on April 24, 2010, 12:39:34 PM
Chronic credit card debt is the mark of a complete fucking idiot. :)
No it's a mark of a mommy and daddy that will get you whatever you want so that when you grow up you don't realise shit costs money and if you buy more then you make you're in trouble.
You are describing a flavor of idiot. :)
Quote from: CountDeMoney on April 24, 2010, 12:11:10 PM
As a member of Generation X, all I have to say is boo fucking hoo.
Spoken like a true Gen Xer.
(https://languish.org/forums/proxy.php?request=http%3A%2F%2Fcontent.internetvideoarchive.com%2Fcontent%2Fphotos%2F125%2F00525217_.jpg&hash=af1f60696d118286dc87d7986f74e08ddc5f43b3)
Quote from: Caliga on April 24, 2010, 12:47:14 PM
You are describing a flavor of idiot. :)
in the end it's all the baby boomers fault.
I have 3 credit cards and they all have zero balance...does that make me a Gen Awesomer?
Quote from: DisturbedPervert on April 24, 2010, 12:15:14 PMIsn't the GI Bill still around?
It is, which is why that part of the article didn't make much sense. If people want to be babied and taken care of and have everything handed to them, the .mil is definitely the way to go.
"Support our soldiers."
This doesn't ring true. My impression is that the generation just leaving school and university now, while saddled with (student) debt, are a lot more financially sensible than their older brothers and sisters, or mums and dads.
Quote from: Sheilbh on April 24, 2010, 12:57:36 PM
This doesn't ring true. My impression is that the generation just leaving school and university now, while saddled with (student) debt, are a lot more financially sensible than their older brothers and sisters, or mums and dads.
Are you implying that kids these days aren't the worse possible generation EVER? Pfft.
The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs, and tyrannize their teachers.
Quote from: Tyr on April 24, 2010, 02:07:39 PM
The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs, and tyrannize their teachers.
:rolleyes: The same has been said through all ages.
Quote from: Caliga on April 24, 2010, 12:39:34 PM
Chronic credit card debt is the mark of a complete fucking idiot. :)
Define "chronic" in this context.
Kidz theze dayz.
Quote from: CountDeMoney on April 24, 2010, 12:11:10 PM
As a member of Generation X, all I have to say is boo fucking hoo.
I agree with my esteemed brother.
Quote from: The Brain on April 24, 2010, 02:11:02 PM
:rolleyes: The same has been said through all ages.
And it's always been true. :secret:
Quote from: CountDeMoney on April 24, 2010, 12:11:10 PM
As a member of Generation X, all I have to say is boo fucking hoo.
As a member of the X-Y border, I agree and laugh at the spoiled brats getting their due.
Almost the exact same things were said about my generation when I grow up. But I do agree that the next generations will have a tougher life than say the baby boomers.
I might have mentioned it before, but I read some where that 60% of American high school kids expect to be professional athletes, actors, or musicians once they enter the work force.
I also learned (from a different source) that the average American teen sends 50 text messages a day.
Quote from: Admiral Yi on April 24, 2010, 04:41:38 PM
I might have mentioned it before, but I read some where that 60% of American high school kids expect to be professional athletes, actors, or musicians once they enter the work force.
So that's pretty much like high school kids everywhere, any time.
Quote from: Martinus on April 24, 2010, 04:55:49 PM
So that's pretty much like high school kids everywhere, any time.
Huh? In my graduating class zero percent thought they would be pro athletes, musicians, or actors.
Recall for those latter two that Marti went to arts & crafts school.
Quote from: Ed Anger on April 24, 2010, 03:31:26 PM
Quote from: CountDeMoney on April 24, 2010, 12:11:10 PM
As a member of Generation X, all I have to say is boo fucking hoo.
I agree with my esteemed brother.
For, as I believe the youth now say, shizzle.
Quote from: Scipio on April 24, 2010, 08:34:08 PM
Quote from: Ed Anger on April 24, 2010, 03:31:26 PM
Quote from: CountDeMoney on April 24, 2010, 12:11:10 PM
As a member of Generation X, all I have to say is boo fucking hoo.
I agree with my esteemed brother.
For, as I believe the youth now say, shizzle.
The irony is that today's youth probably have no idea what you're saying - it's only us Gen Xers that know from Snoop Dogg.
Quote from: Barrister on April 24, 2010, 08:41:52 PM
Quote from: Scipio on April 24, 2010, 08:34:08 PM
Quote from: Ed Anger on April 24, 2010, 03:31:26 PM
Quote from: CountDeMoney on April 24, 2010, 12:11:10 PM
As a member of Generation X, all I have to say is boo fucking hoo.
I agree with my esteemed brother.
For, as I believe the youth now say, shizzle.
The irony is that today's youth probably have no idea what you're saying - it's only us Gen Xers that know from Snoop Dogg.
Lol old people and their funny thoughts. :D
On a side note, have 1 credit card and 0 debt. I probably have more in the bank right now than that faggot Martinus has ever had. :nelson:
Quote from: garbon on April 24, 2010, 05:23:49 PM
Recall for those latter two that Marti went to arts & crafts school.
He did? That explains a lot.
Quote from: Alcibiades on April 24, 2010, 09:06:05 PM
Lol old people and their funny thoughts. :D
Especially considering that he still makes music.
Quote from: Alcibiades on April 24, 2010, 09:06:05 PM
On a side note, have 1 credit card and 0 debt. I probably have more in the bank right now than that faggot Martinus has ever had. :nelson:
A bold statement. :P
When you have a shitty career, you have to make statements like that.
I have no debt and I'm sitting on a fat pile of cash and assets.
In 20 years, I will sit back and watch the rest of my generation pick cotton on my plantation. :cool:
Teachers are cute.
All this pessimism gets on my nerves. We make more stuff for less. Overpopulation is not turning Earth into some kind of a hive world where people live on top of each other. If the future is going to be worse something is seriously wrong.
Quote from: Alcibiades on April 24, 2010, 09:06:05 PMOn a side note, have 1 credit card and 0 debt. I probably have more in the bank right now than that faggot Martinus has ever had. :nelson:
I doubt it, but bring it. Let's compare our financial dicks.
Quote from: DGuller on April 24, 2010, 10:36:37 PM
Quote from: garbon on April 24, 2010, 05:23:49 PM
Recall for those latter two that Marti went to arts & crafts school.
He did? That explains a lot.
No. :lol:
I was in a maths/physics class in high school.
You only get to take one class in Poland? :(
Quote from: garbon on April 25, 2010, 03:44:18 AM
You only get to take one class in Poland? :(
Yes. We are poor, remember? :(
Ugh, nothing so unbecoming as poverty.
Quote from: Martinus on April 25, 2010, 03:29:58 AM
Quote from: Alcibiades on April 24, 2010, 09:06:05 PMOn a side note, have 1 credit card and 0 debt. I probably have more in the bank right now than that faggot Martinus has ever had. :nelson:
I doubt it, but bring it. Let's compare our financial dicks.
Yeah, I think Martinus, being a lawyer in his 30s, should be able to win this one.
Quote from: Admiral Yi on April 24, 2010, 05:18:15 PM
Huh? In my graduating class zero percent thought they would be pro athletes, musicians, or actors.
Yeah, I don't remember anybody thinking they would be any of those things, but then again my high school was mostly Jews :(
Quote from: Monoriu on April 25, 2010, 05:08:52 AM
Quote from: Martinus on April 25, 2010, 03:29:58 AM
Quote from: Alcibiades on April 24, 2010, 09:06:05 PMOn a side note, have 1 credit card and 0 debt. I probably have more in the bank right now than that faggot Martinus has ever had. :nelson:
I doubt it, but bring it. Let's compare our financial dicks.
Yeah, I think Martinus, being a lawyer in his 30s, should be able to win this one.
Given that Alcibiades is getting a free ride at college, and he probably banked a year's worth of base pay and combat pay while he was on tour, it's probably closer than you think, but yeah, I still gotta give the edge to Martinus. Although Alcibiades could be keeping a goofy amount of money in a savings or checking account and win on a technicality.
Quote from: Caliga on April 25, 2010, 05:38:54 AM
Yeah, I don't remember anybody thinking they would be any of those things, but then again my high school was mostly Jews :(
I figure Marty misread it as "60% of students *dream* of being X, Y, or Z."
Quote from: Admiral Yi on April 25, 2010, 05:43:11 AM
Quote from: Monoriu on April 25, 2010, 05:08:52 AM
Quote from: Martinus on April 25, 2010, 03:29:58 AM
Quote from: Alcibiades on April 24, 2010, 09:06:05 PMOn a side note, have 1 credit card and 0 debt. I probably have more in the bank right now than that faggot Martinus has ever had. :nelson:
I doubt it, but bring it. Let's compare our financial dicks.
Yeah, I think Martinus, being a lawyer in his 30s, should be able to win this one.
Given that Alcibiades is getting a free ride at college, and he probably banked a year's worth of base pay and combat pay while he was on tour, it's probably closer than you think, but yeah, I still gotta give the edge to Martinus. Although Alcibiades could be keeping a goofy amount of money in a savings or checking account and win on a technicality.
Well, I never had a college loan since we have free education here. My mortgage on my city flat is paid off, I have savings and I assume when we compare dicks it means assets minus liabilities and not just cash. Now, I spend a lot of money on clothes, entertainment, trips and boyfriends, but still I believe I'd come ahead.
Quote from: Admiral Yi on April 25, 2010, 05:44:20 AM
Quote from: Caliga on April 25, 2010, 05:38:54 AM
Yeah, I don't remember anybody thinking they would be any of those things, but then again my high school was mostly Jews :(
I figure Marty misread it as "60% of students *dream* of being X, Y, or Z."
I suspect the opposite was true for you reading about the survey, for journalists writing about the survey, for people organizing the survey or for the students taking the survey, tbh. ;)
Quote from: Martinus on April 25, 2010, 05:55:46 AM
I suspect the opposite was true for you reading about the survey, for journalists writing about the survey, for people organizing the survey or for the students taking the survey, tbh. ;)
Uh, what now? Do you mean you suspect the opposite is not true?
Quote from: Admiral Yi on April 25, 2010, 05:59:02 AM
Quote from: Martinus on April 25, 2010, 05:55:46 AM
I suspect the opposite was true for you reading about the survey, for journalists writing about the survey, for people organizing the survey or for the students taking the survey, tbh. ;)
Uh, what now? Do you mean you suspect the opposite is not true?
I meant that at least one of the groups/individuals mentioned misunderstood the results as reading what you are saying they read, rather than saying "I wish I was an artist etc."
I think it is a much more likely explanation than the one saying "60% of students think they will be artists etc."
On the jobs issue, here (http://sec.online.wsj.com/article/SB122455219391652725.html) is an article from the Wall Street Journal.
An excerpt:
Quote
If there is one overriding perception of the millennial generation, it's that these young people have great -- and sometimes outlandish -- expectations. Employers realize the millennials are their future work force, but they are concerned about this generation's desire to shape their jobs to fit their lives rather than adapt their lives to the workplace.
[The Millennials] Alison Seiffer
Although members of other generations were considered somewhat spoiled in their youth, millennials feel an unusually strong sense of entitlement. Older adults criticize the high-maintenance rookies for demanding too much too soon. "They want to be CEO tomorrow," is a common refrain from corporate recruiters.
More than 85% of hiring managers and human-resource executives said they feel that millennials have a stronger sense of entitlement than older workers, according to a survey by CareerBuilder.com. The generation's greatest expectations: higher pay (74% of respondents); flexible work schedules (61%); a promotion within a year (56%); and more vacation or personal time (50%).
"They really do seem to want everything, and I can't decide if it's an inability or an unwillingness to make trade-offs," says Derrick Bolton, assistant dean and M.B.A. admissions director at Stanford University's Graduate School of Business. "They want to be CEO, for example, but they say they don't want to give up time with their families."
Millennials, of course, will have to temper their expectations as they seek employment during this deep economic slump. But their sense of entitlement is an ingrained trait that will likely resurface in a stronger job market. Some research studies indicate that the millennial generation's great expectations stem from feelings of superiority. Michigan State University's Collegiate Employment Research Institute and MonsterTrak, an online careers site, conducted a research study of 18- to 28-year-olds and found that nearly half had moderate to high superiority beliefs about themselves. The superiority factor was measured by responses to such statements as "I deserve favors from others" and "I know that I have more natural talents than most."
Lest we GenXers feel left out, the Wall Street Journal has something for us (http://www.usatoday.com/money/economy/employment/2009-11-16-generation-x-jobs_N.htm?csp=outbrain&csp=obinsite), too.
Quote
CHICAGO — They're antsy and edgy, tired of waiting for promotion opportunities at work as their elders put off retirement. A good number of them are just waiting for the economy to pick up so they can hop to the next job, find something more fulfilling and get what they think they deserve. Oh, and they want work-life balance, too.
Sounds like Gen Y, the so-called "entitlement generation," right?
Not necessarily, say people who track the generations. In these hard times, they're also hearing strong rumblings of discontent from Generation X. They're the 32- to 44-year-olds who are wedged between baby boomers and their children, often feeling like forgotten middle siblings — and increasingly restless at work as a result.
Quote from: Martinus on April 25, 2010, 03:32:27 AM
Quote from: DGuller on April 24, 2010, 10:36:37 PM
Quote from: garbon on April 24, 2010, 05:23:49 PM
Recall for those latter two that Marti went to arts & crafts school.
He did? That explains a lot.
No. :lol:
I was in a maths/physics class in high school.
Did you have to choose between math/physics and humanities concentrations as well once you got into higher grades? That's how it was in Ukraine.
Well, not sure what "concentrations" are, but I guess it's something that was called "profiles" in my high school. You've got classes with different profiles (when I was in high school, these were: general, math-physics, bio-chem, humanities and informatics - now they have more choices, like focusing on languages or economy). The difference was the focus / extra hours of a given profile each week (for example we had 6 hours of mathematics and 3 hours of physics, instead of 4 and 2, respectively, per week, but only two hours of history, and no third foreign language classes). I ended up in math-physics mainly because it was a profile rumored to have best teachers and best students (the humanities one was mainly potheads :P).
Quote from: Caliga on April 25, 2010, 05:38:54 AM
Quote from: Admiral Yi on April 24, 2010, 05:18:15 PM
Huh? In my graduating class zero percent thought they would be pro athletes, musicians, or actors.
Yeah, I don't remember anybody thinking they would be any of those things, but then again my high school was mostly Jews :(
Secretly ruling the world leaves little time to be a pro athlete, musician or actor. :(
How many thought they'd be movie producers or write scripts? ;)
Quote from: Admiral Yi on April 25, 2010, 05:43:11 AM
he probably banked a year's worth of base pay and combat pay while he was on tour
I wonder what that looks like.
Quote from: Baron von Schtinkenbutt on April 25, 2010, 08:50:44 AM
Lest we GenXers feel left out, the Wall Street Journal has something for us (http://www.usatoday.com/money/economy/employment/2009-11-16-generation-x-jobs_N.htm?csp=outbrain&csp=obinsite), too.
Quote
CHICAGO — They're antsy and edgy, tired of waiting for promotion opportunities at work as their elders put off retirement. A good number of them are just waiting for the economy to pick up so they can hop to the next job, find something more fulfilling and get what they think they deserve. Oh, and they want work-life balance, too.
Sounds like Gen Y, the so-called "entitlement generation," right?
Not necessarily, say people who track the generations. In these hard times, they're also hearing strong rumblings of discontent from Generation X. They're the 32- to 44-year-olds who are wedged between baby boomers and their children, often feeling like forgotten middle siblings — and increasingly restless at work as a result.
Bah. Baby boomers are in full-fledged retirement mode. Lots of openings coming available. It's a great time to be a Gen Xer.
Quote from: Barrister on April 25, 2010, 12:29:54 PM
Bah. Baby boomers are in full-fledged retirement mode. Lots of openings coming available. It's a great time to be a Gen Xer.
Not necessarily. When the economy shit the bed, the most affected were those within 5 years of retirement; a ton of them have found themselves working and putting off retirement to make up for the 401K market losses.
Quote from: CountDeMoney on April 25, 2010, 01:02:17 PM
Quote from: Barrister on April 25, 2010, 12:29:54 PM
Bah. Baby boomers are in full-fledged retirement mode. Lots of openings coming available. It's a great time to be a Gen Xer.
Not necessarily. When the economy shit the bed, the most affected were those within 5 years of retirement; a ton of them have found themselves working and putting off retirement to make up for the 401K market losses.
Maybe it's a government thing then.
Quote from: Peter Wiggin on April 25, 2010, 10:18:23 AM
How many thought they'd be movie producers or write scripts? ;)
Actually one kid a year younger than me from my school is a writer for WWE. :punk:
Quote from: garbon on April 25, 2010, 11:16:30 AM
Quote from: Admiral Yi on April 25, 2010, 05:43:11 AM
he probably banked a year's worth of base pay and combat pay while he was on tour
I wonder what that looks like.
$3,500 a month into my pocket tax free. :)
Just banked out on Intel last week, +52% profit on $26,000. :bowler:
Still have some invested though, but if we're including assets, depending on how much marty's flat is ( although it is Poland so probably cheaper than an RV in the US) he may come out ahead despite my car and new motorcycle.
Quote from: Alcibiades on April 25, 2010, 02:20:51 PM
Just banked out on Intel last week, +52% profit on $26,000. :bowler:
Nice work, son. Last week was a good week for cashing out of stocks for Languish peeps. :smoke:
If you're new to this though, beware of... capital gains tax. :(
Hmm, well it is nice to see that there are options for those otherwise useless to society.
Quote from: garbon on April 25, 2010, 02:27:24 PM
Hmm, well it is nice to see that there are options for those otherwise useless to society.
I assume there is no hope for you though. :console:
I was feeling that way for a few months, but now I'm over it. :hug:
Prozac is great I hear. :)
On a side note, does it make you even more bitter that you're already at a dead end and little old loser me is already ahead of you in just about all measurable categories while being younger? :yeah:
Never tried it.
No not really at all. I've got some good experience and I'm on to the next one. Whereas as soon as you get back to your career, you've a good chance of dying.../your career involves living in intolerable conditions. It's like the Mono plan but worse.
Also, is being a child with a child a good thing? :unsure:
Oh and did you have a better cost-free education?
Awww, you guys are so cute like that.
Ah well I'm not doing infantry again, going to fly so it's not nearly as dangerous and the living conditions will be good. :ph34r:
I love my son, it's something you really can't knock on until you actually have a child I don't think.... At first it seemed terrible but now I'm very thankful. :mellow:
And I'm not really a child at 22 any more, despite what you would like to insinuate. ;)
University of Illinois Champaign-Urbana 100% paid for? Definitely. Tier 1 and in the top 30 for institutions in the nation depending where exactly you look and for what. Where'd you go again, UCLA? Wouldn't say that's better than where I go. :huh:
Quote from: Alcibiades on April 25, 2010, 03:16:02 PM
University of Illinois Champaign-Urbana 100% paid for? Definitely. Tier 1 and in the top 30 for institutions in the nation depending where exactly you look and for what. Where'd you go again, UCLA? Wouldn't say that's better than where I go. :huh:
:lol:
No silly, child. Stanford (let alone the fact that I didn't pay a cent) is demonstrably better.
Fuck you all. I was smart and chose grandparents who were rich.
Quote from: garbon on April 25, 2010, 03:18:51 PM
:lol:
No silly, child. Stanford (let alone the fact that I didn't pay a cent) is demonstrably better.
Did they teach you how to use commas at Standford? :D
And that's obviously only because you're black. :lol:
Quote from: PDH on April 25, 2010, 03:22:22 PM
Fuck you all. I was smart and chose grandparents who were rich.
Best option by far. :Embarrass:
Quote from: Alcibiades on April 25, 2010, 02:20:51 PM
Quote from: garbon on April 25, 2010, 11:16:30 AM
Quote from: Admiral Yi on April 25, 2010, 05:43:11 AM
he probably banked a year's worth of base pay and combat pay while he was on tour
I wonder what that looks like.
$3,500 a month into my pocket tax free. :)
Just banked out on Intel last week, +52% profit on $26,000. :bowler:
Still have some invested though, but if we're including assets, depending on how much marty's flat is ( although it is Poland so probably cheaper than an RV in the US) he may come out ahead despite my car and new motorcycle.
This is really gauche, but my flat is worth about $170-200k (it's rather smallish, I admit). And obviously I have savings (I dislike investing).
Btw, considering your pay - a junior fresh-out-of-college lawyer in Poland earns this in my firm (I understand, the pay in our London and US offices is considerably higher due to higher costs of living) :)
Going off assets alone you have me beat, but then again you are 10 years older than me as well. I'm around 100- 115k. Which you guys can think what ever you want, that's damn good for only being 22 and in school supporting myself and a child. :showoff:
P.s. Most of my assets are liquid for better or worse at this point. :unsure:
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Quote from: CountDeMoney on April 25, 2010, 01:02:17 PM
Not necessarily. When the economy shit the bed, the most affected were those within 5 years of retirement; a ton of them have found themselves working and putting off retirement to make up for the 401K market losses.
That's exactly what I'm seeing. I'm looking for an alternative right now myself. My career path here appears to involve being stuck in the same spot for 5 - 10 more years, followed by either being thrust into a position I'm not ready for or passed over for someone from the outside. The economy is just making the situation worse; the developmental middle management positions that should be held by people with 8 - 12 years of experience are held by people with twice that, and the positions those people should have are held by people with 35+. Also, as a result, there's no talent pipeline to speak of.
Quote from: CountDeMoney on April 25, 2010, 01:02:17 PM
Quote from: Barrister on April 25, 2010, 12:29:54 PM
Bah. Baby boomers are in full-fledged retirement mode. Lots of openings coming available. It's a great time to be a Gen Xer.
Not necessarily. When the economy shit the bed, the most affected were those within 5 years of retirement; a ton of them have found themselves working and putting off retirement to make up for the 401K market losses.
Exactly where I'm kind of unsure right now... I don't really know what I should do with my money any more, can't afford to take a hit like many did during this last bubble... Any real alternatives that you guys are checking out?
Quote from: Alcibiades on April 25, 2010, 03:25:58 PM
Did they teach you how to use commas at Standford? :D
And that's obviously only because you're black. :lol:
My art history professor recommended The Elements of Style. :(
No, it's actually called having parents with money. Kinda fun actually.
Quote from: Alcibiades on April 25, 2010, 03:29:13 PM
Going off assets alone you have me beat, but then again you are 10 years older than me as well. I'm around 100- 115k. Which you guys can think what ever you want, that's damn good for only being 22 and in school supporting myself and a child. :showoff:
P.s. Most of my assets are liquid for better or worse at this point. :unsure:
About half of my assets are liquid. I'm also the only heir to my parents' estate which is about 1 mil (but sadly mostly illiquid at this point - that's what having an expensive collecting hobby does to you :rolleyes:).
Quote from: Martinus on April 25, 2010, 03:34:39 PM
About half of my assets are liquid. I'm also the only heir to my parents' estate which is about 1 mil (but sadly most illiquid).
Lucky :o
Your parents sound nice though, so hopefully they out live you. :p
For the record, the child-rearing costs will sky-rocket when you hit school age and will continue to raise until college.
Enjoy your ride, breeder. :nelson:
Quote from: garbon on April 25, 2010, 03:32:37 PM
My art history professor recommended The Elements of Style. :(
No, it's actually called having parents with money. Kinda fun actually.
Spoiled brat. :glare:
Quote from: Martinus on April 25, 2010, 03:37:59 PM
For the record, the child-rearing costs will sky-rocket when you hit school age and will continue to raise until college.
Enjoy your ride, breeder. :nelson:
Make the little bastards get a job, I did. :P
Quote from: Alcibiades on April 25, 2010, 03:37:31 PM
Quote from: Martinus on April 25, 2010, 03:34:39 PM
About half of my assets are liquid. I'm also the only heir to my parents' estate which is about 1 mil (but sadly most illiquid).
Lucky :o
Your parents sound nice though, so hopefully they out live you. :p
Unlikely, unless I get gaybashed or catch AIDS within the next year or so. Dad is 75, mom is 65.
Quote from: garbon on April 25, 2010, 03:32:37 PM
No, it's actually called having parents with money. Kinda fun actually.
I know. I'm surprised more people do not try it.
Quote from: Alcibiades on April 25, 2010, 03:39:01 PM
Spoiled brat. :glare:
Oh don't hate. Even in America not everyone can be afforded the same opportunities.
I'm making my way. ^_^
And yeah I know, I'm just antagonizing is all.
Shameless self promotion: my parents (first car to the left). :ph34r:
(https://languish.org/forums/proxy.php?request=http%3A%2F%2Fwww.motoforum.pl%2FMagazyn%2F200517%2Farcus01.jpg&hash=4419e3514caf9196a0c1e404d3526c26c816e025)
:lol:
(https://languish.org/images/Penis-Cat.jpg)
Quote from: Alcibiades on April 25, 2010, 03:46:16 PM
I'm making my way. ^_^
You say that like that is a preferable route. :lol:
Quote from: Baron von Schtinkenbutt on April 25, 2010, 03:52:17 PM
http://languish.org/images/Penis-Cat.jpg
I think it might be obvious when we start discussing sex. :secret:
Quote from: Martinus on April 25, 2010, 03:50:47 PM
Shameless self promotion: my parents (first car to the left). :ph34r:
(https://languish.org/forums/proxy.php?request=http%3A%2F%2Fwww.motoforum.pl%2FMagazyn%2F200517%2Farcus01.jpg&hash=4419e3514caf9196a0c1e404d3526c26c816e025)
:lol:
Can't afford anything more modern? :console:
That's Poland's 2010 model. :mellow:
Dumb & Dumber unite!
Quote from: Martinus on April 25, 2010, 03:43:32 PM
He is. Much more agreeable than my mom. :P
That sounds just like something I would say! :D
Forty million.
Quote from: Barrister on April 25, 2010, 01:17:40 PM
Quote from: CountDeMoney on April 25, 2010, 01:02:17 PM
Quote from: Barrister on April 25, 2010, 12:29:54 PM
Bah. Baby boomers are in full-fledged retirement mode. Lots of openings coming available. It's a great time to be a Gen Xer.
Not necessarily. When the economy shit the bed, the most affected were those within 5 years of retirement; a ton of them have found themselves working and putting off retirement to make up for the 401K market losses.
Maybe it's a government thing then.
Oh, the "other" welfare program. Go fig.
Like I said, Marty has more assets :yeah:
Marti, you lie down with pigs, all you do is get dirty. Alci is a lowly grunt who will in all likelihood bleed out in Iraq/Iran or suffer from chronic mental and physical health problems. He also couldn't convince his trashy girlfriend to get an abortion. Fail.
Quote from: Fate on April 25, 2010, 08:04:14 PM
He also couldn't convince his trashy girlfriend to get an abortion. Fail.
Survival of the fittest.
Quote from: Peter Wiggin on April 25, 2010, 09:10:06 PM
Quote from: Fate on April 25, 2010, 08:04:14 PM
He also couldn't convince his trashy girlfriend to get an abortion. Fail.
Survival of the fittest.
Fate rule violation. :cry:
Quote from: FunkMonk on April 25, 2010, 09:54:34 PM
Quote from: Neil on April 25, 2010, 04:55:40 PM
Forty million.
... model dreadnoughts?
What would somebody do with that many model dreadnoughts? I mean, I could see getting a model of every single dreadnought ever built, and maybe some multiples (Renown 1917, Renown 1940, Renown 1945, etc.) A couple hundred at best.