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If everybody learns skills, there still would be a shortage of jobs.
I don't think some understand Economics.
The only way to change the current trend is for better income equality and to get the Middle and Lower classes spending again.
That's it.
I meant valued skills. If everyone learns the same skills they wouldn't be valued anymore. Supply and demand. Pick a passion and interest and go with it.
Last edited by Weird Tolkienish Figure; 01-06-2015 at 09:22 AM..
Oh poor me, is being cried by so many young people today. They are repeating what I heard back in the 1954 when I got out of the navy with a wife, 2 small children and no money. I worked 12 hour days to keep a roof over their heads, and food in their stomachs. I looked around to see what I could do to make money. I decided commission sales was the best prospect. By 1958 I was earning over $125,000 in today's dollars selling furniture, and I never looked back. I went into the corporate world 5 years later, and worked up in a couple of years to division sales manager for half the country. In 1972, I went into the real estate business, as a commercial/investment real estate broker, so I could make real money, and stayed there till I retired. Today we are in very good shape, owning a large 3700 sq. ft. custom home, on 5 acres across the county road from the best part of the city where we live. We don't owe one penny, have 3 nice cars, and could write a check for $250,000 if we wanted to. We have had to open accounts at a second bank, as it is not good to keep over $250,000 in any bank due to deposit insurance. At the present time, we are cash heavy waiting for the right opportunity to come along. For 40 years, I have bought real estate parcels that I can sell at a profit.
Quote:
Originally Posted by eevee188
You made the equivalent of $125,000 selling furniture? Today, that job pays minimum wage or close to it. Don't you see? THAT'S why we're complaining. That's the problem. Jobs pay a fraction of what they used to (when adjusted for inflation).
Exactly, eevee.
Selling furniture in the 50s, 60s and 70s was an occupation that would have enabled a person to live a solid, middle-class lifestyle.
Plus, oldtrader mentions that he then entered the corporate world. What I want to know is, does he have an education, or is he like my father, who was able to become national training manager of a major pharmaceutical company with the equivalent of an 11th grade education (my dad was also an immigrant)? The chances of a person being able to work up the ladder in the corporate world without at least a bachelor's degree, are slim to none today, no matter how "hard" one works.
BTW, I'm a GenXer in my 40s, so I see both sides to this issue (that's why we GenXers are so awesome!). I have a master's degree and 20 years' experience, and I still haven't been able to secure a decently-paying position after moving to a new state 3.5 years ago for my spouse's job. Heck, I had to work a temp position for a couple of years just to get a foot in the door in my field here. So, it's not just the Millennials struggling.
Having said that, I also think that comparing the experiences of the 18-34 cohort of 40 years ago with that of the same cohort today is like comparing apples with papayas. The Boomers (even the younger Boomers) were a blessed generation, simply because they were born during the right time and in the right place.
Selling furniture in the 50s, 60s and 70s was an occupation that would have enabled a person to live a solid, middle-class lifestyle.
Plus, oldtrader mentions that he then entered the corporate world. What I want to know is, does he have an education, or is he like my father, who was able to become national training manager of a major pharmaceutical company with the equivalent of an 11th grade education (my dad was also an immigrant)? The chances of a person being able to work up the ladder in the corporate world without at least a bachelor's degree, are slim to none today, no matter how "hard" one works.
BTW, I'm a GenXer in my 40s, so I see both sides to this issue (that's why we GenXers are so awesome!). I have a master's degree and 20 years' experience, and I still haven't been able to secure a decently-paying position after moving to a new state 3.5 years ago for my spouse's job. Heck, I had to work a temp position for a couple of years just to get a foot in the door in my field here. So, it's not just the Millennials struggling.
Having said that, I also think that comparing the experiences of the 18-34 cohort of 40 years ago with that of the same cohort today is like comparing apples with papayas. The Boomers (even the younger Boomers) were a blessed generation, simply because they were born during the right time and in the right place.
And selling furniture now enables a person to do the exact same thing. I have 3 friends who are in that industry, and every one makes six-figures.
I, also, am in sales, as well as owning a company with my wife that is also sales-based. I make well into the six-figures at my "real" job, and am just about at $100K at my "hobby" job.
We live a modest, middle-class life. Perhaps it is because I chose my profession at a young age and have stuck with it. While I've been in many industries throughout my years in the work force, it has always been in sales (other than some time in the military).
There are still many industries who value experience over education, and sales is probably foremost.
Per article...
The age group that currently is 65-74 is the wealthiest group, with an average family net worth of 220K...and that, keep in mind, with no kids to raise. The age group that is 75+ has an average new worth of 195K....
]
That net worth may include a home which they purchased during their working years. As a member of that group I certainly do not know many with those figures as spendable cash.
And selling furniture now enables a person to do the exact same thing. I have 3 friends who are in that industry, and every one makes six-figures.
I, also, am in sales, as well as owning a company with my wife that is also sales-based. I make well into the six-figures at my "real" job, and am just about at $100K at my "hobby" job.
We live a modest, middle-class life. Perhaps it is because I chose my profession at a young age and have stuck with it. While I've been in many industries throughout my years in the work force, it has always been in sales (other than some time in the military).
There are still many industries who value experience over education, and sales is probably foremost.
Not pharmaceutical sales. You wouldn't even be able to get a foot in the door without at least a bachelor's. I know, because I was in pharma sales for a few years before changing professions. I began in the early 90s, and they wouldn't even interview candidates who didn't possess bachelor's degrees. And if any sales reps wanted to move up the ladder, they knew that an MBA would take them higher, faster.
That was point in using my dad and the pharma industry as examples. Yes, there are industries today in which one can do well in sales without higher education, but there are just as many who won't even consider candidates without it.
I'll also add that I'm amazed by all the posters on CD who claim to be making 6-figure salaries. My ex, who has 2 STEM master's degrees, an MBA, and 30 years of very responsible experience makes 6 figures, but only in the last 8 years or so.
Last edited by newdixiegirl; 01-06-2015 at 10:10 AM..
When you have an economy based on people working minimum to near minimum wage service jobs it will be nearly impossible for people to gain wealth.
Everyone I know (who depended on factory and warehouse jobs) began as minimum wage workers. Some have just stagnated and just worked with their yearly raises and 2 weeks vacation. The smart, driven ones who wanted better struck out to find better. You are responsible for you, not your employer, not the taxpayer.
Find a passion and run with it. If you weren't blessed with a passion, live within your means.....but for Gods sake, stop whining and blaming others.
If everybody learns skills, there still would be a shortage of jobs.
I don't think some understand Economics.
The only way to change the current trend is for better income equality and to get the Middle and Lower classes spending again.
That's it.
By definition, income inequality is manifested when a much larger share of the income is accrued to the high-end income groups where the savings rate is highest. The top 1 percent have a personal savings rate in excess of 50 percent. The problem isn't spendng by the other income groups. The problem is the current monetary policy is directed to getting highly indebted people to spend more and enriching those in the wealthiest groups who will likely invest rather than spend.
Once could see this coming 25 or so years ago when the H1b wave started. The first wage of outsourcing brought workers here and trained them in American business practices. After some time, the numbers would grow and there would be a sufficient number advancing to develop management skills to compete with US companies. Eventually, the university systems in their home countries would have to improve in order to continue to bring in talent at low wage rates as the preference among some is to hire from the same nationality.
Everyone I know (who depended on factory and warehouse jobs) began as minimum wage workers. Some have just stagnated and just worked with their yearly raises and 2 weeks vacation. The smart, driven ones who wanted better struck out to find better. You are responsible for you, not your employer, not the taxpayer.
Find a passion and run with it. If you weren't blessed with a passion, live within your means.....but for Gods sake, stop whining and blaming others.
Exactly. And then people will blame the wealthy for the "income inequality". I call bull****. I MAKE my opportunities. I have been all over the income spectrum. And I am SOLELY responsible for the choices I made that either brought me more money than I could spend, or put me in the position where I ate ramen noodles 7 nights a week.
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