they've snow jobbed the public. when i was growing up, it was, 'you have to get a college degree to get anywhere'.
so, i did that. i make out ok, but not really enough to say it was worth the investment. still i had a good time. i worked full time my last 3 years of college while i went because i couldn't get loans.
well, i am lucky. i have a nice house and 2 fairly new cars to drive. i have minimal credit card debt in comparison to many others i know....even after all that i don't put enough away and I really do have too much credit.
The thing that sucks is my wife and i both have degrees. I can't make enough alone to support our family even if we downscaled our house. So we both work, and with that comes daycare and stuff. Healthcare, fuel and energy costs, automobiles (which we spend a lot less on than others I know) and taxes, etc......all that stuff keeps going up more compared to what you make.
So even beyond your early thirties it continues to suck. A lot of friends are getting masters degrees thinking it will be the ticket to making more dough. it might be but at some point the investment does not pay off anymore and there's too many masters.
i definitely feel for the ones in their early twenties. in order to be financially strong, you either have to strike it lucky and land a lucrative job, out of sheer luck.....or live in self denial for many years....(no car payments, live in less than what you want etc. College and healthcare goes up 15% a year and wages keep getting cut. Housing goes up 10-15%.
part of the reason we jumped in with four feet into our outrageous mortgage where we live now and bought as much as we could was because we knew if we even waited a year, then we would never get into this place which we ultimately wanted to be long term. We had already put if off 2-3 years longer than we should have and in that timeframe housing went up 30-50%, no lie. Had we just made an interim move with the idea fo moving again in 5 years ro so, we would have taken it in the arse then due to mre seller and banker fees and a price that is another 40-50% higher than what we paid for ours. = never gonna happen. Our house ends up being our main investment vehicle. In 22 months after we moved in, i had the mortgage redone to change it to a fixed from a short term balloon and they appraised our home at 13% higher than we bought it for. Insane. Its not worth near that. But that would chalk up in our favor on our balance sheet now, even if it provides no help with cash flow now.
we've really reached a point where in order to make it huge you gotta have money to begin with. that, and connections. if your family/dad was some big earning CEO and you had inheritances, your family had stocks, property passed down from before, or a company your parents owned and they hand you a job that pays more than you're really worth....sure, then you can make it bigger.
But the US as a nation has evolved to the point where you can work your ass and get educated and it really doesn't make a lot of difference at all unless you've got things coddling you from the birthing room.
I suspect very much that 20 somethings and early thirtysomethings are indeed working their asses off without much to look forward to. Unforunate.
If i had been really drinking tonight i would blame the feminist movement, baby boomers as a generation, and politicians for hosing up our society economic and family structures from the 50's and 60's......
our society has adjusted to the point where there is no middle class....if you are starting life in your twenties at '0' on the balance sheet, you have far too many obstacles in front of you to get 'ahead'.
keep the peace with mom and dad you teens, cause you still could be living there ten years form now.
all these who say 'its up to you you can make it on your own'....sure......RRRIIIIGGGHTTTT. without engaing in anything unethical or where you step on others to get what you want? without spending ALL your time (likely single) obsessively pursing personal gain? it can be done but you will typically fail most business ventures b4 you find one you can extort from the public with and anyone hitting their twenties with nothing for assets on the balance sheet can't afford to take chances to make rent. No one I knew could afford to. And even those who are entrepenuerial, the faliure rate there is far too high too.
We always hear about the success stories, but never hear much about the millions of personal faliures in everyone's lives. Frankly, I choose to believe what my dad says....they are moving us towards 'civilized slavery', the upper classes are.
the jet setters that think they have it figured out by 30, may be out of the game and on their butts by 40 if you don't keep working at it.