I graduated High School in 2002, am 26 years old, and hardly anyone my age is living life successfully in NJ (Ridgewood: 2009, cheap apartment)

[MichelleCFP]

Thanks Delp.

Yes Lisa, I agree 100%.

Moving out of NJ does not solve the problem for most people.

First of all, the job situation here is still much better than many parts of the US.
Secondly, yes, the Cost of Liv is higher. But the salary here is much higher than 95% of america.
Third, if you have kids, the NJ Public school system is still better than 90% of other states.
Fourth, NJ's real estate as bad as it is- WE are still in much BETTER shape than many states. Have you checked California or Florida lately?

Bottom line, the ENTIRE NATION is hurting . Relocating is & will NOT be the solution for most people. Unless you have a Good paying, secure Job Offer in another state

[joe moving]

I guess I see the problem. If you make 45k, and live alone, spending 1000 a month on rent, you will barely have any money leftover to save. Is that the case? Can you get in on COAH housing? Where in Bergen County do you want to live?

[elflord1973]

Originally Posted by MichelleCFP

Fourth, NJ's real estate as bad as it is- WE are still in much BETTER shape than many states. Have you checked California or Florida lately?

Not sure what you mean by "bad", but if you're a potential first time home buyer, then the fact that prices have held up in NJ is not good news.

[block911]

Originally Posted by MichelleCFP

Dingo, First things first. No matter what happens, you have to keep your attitude positive. I know it is not easy, but when times are tough - the ONLY thing that keeps people moving forward is HOPE that THINGS WILL GET BETTER. If you've already raised the white flag, the battle is pretty much over. NO MATTER WHAT- you have to keep moving forward & keep believing in yourself. Frankly, you are still WAY WAY better off than MANY people twice your age. No doubt about. Millions of people are STRUGGLING right now. Believe it or not, even Upper Middle Class Americans today are SCARED.

These are unusual times. For americans who are 60 yrs old & younger, the kind of HARDSHIP facing our country today ( and realistically may & will very likely continue for a while) is a FIRST. Most americans living today have NEVER EVER seen or experienced America Economically Down, Depressed & No Longer # 1 in the world.

Every top Economist & top Financial Forecaster will tell you that NO EXPERT can HONESTLY tell how or where we are headed. Why? Because there is NOTHING for so called Experts to COMPARE this to except the Great Depression. Thus, there are NO Economic Models to compare what is going on right now.

Our nation's Financial System LITERALLY ALMOST COLLAPSED as we know it last year. Today, we are Still hurting big time. And from all indicators, This Won't end anytime soon.

Is it the end of the world? Absolutely Not. You just have to face the reality that for Most Americans today- Its Survival as oppose to the Good Life. For most americans, it means renting instead of buying. For many young people, it may mean living with parents for now instead of using up valuable, limited resources for rent.

President Obama & his people have So Much on their plate right now which even experts don't exactly know how to solve. I am a Republican. I did not vote for Obama. But as an American, I feel for him. There is enormous Pressure & challenges facing him.

Something to think about.

Millions of jobs that Americans have lost especially in industries like Manufacturing & Servicing WILL NEVER COMEBACK in our lifetime. These jobs are gone forever. Where does the Gov't find jobs for millions of these people. How can you hope for a recovery when there are millions who will continue to be unemployed?

Credit. Credit Freeze. lack of credit, lack of lending.... The Gov't has done everything it can up to today in order to stimulate credit. But 95% of top National experts will tell you privately ( even publicly) that the FUTURE of Credit in America for the next 10 years is Bleak. Banks & Financial Orgs WILL NOT be lending to mainstream americans anytime soon. Only a handful of perfect borrowers would have ACCESS to credit. - WITHOUT CREDIT, Recovery will take much longer.

Our massive Senior baby boomers???? HOW CAN THE Gov't support this LARGEST GENERATION of Americans ???? How will they pay for their healthcare & Long term needs? 6,000 seniors hit 65 EVERY SINGLE DAY. 90% of these seniors will need EXPENSIVE, COSTLY Long Term care to survive.

Only less than 7% of ALL Seniors today have ENOUGH MONEY to RETIRE comfortably without the need for Social Security, Medicare & other Gov't assistance programs.

Do you understand how massive this is? 93% of All our Seniors will depend on the US Gov't for their needs. What's more scary is 71% of the 93% of Seniors DO NOT HAVE ANY SAVINGS & will rely solely of their social security & Gov't medicare/medicaid.

How can a much SMALLER base of younger employees support the baby boomer generation? How will this nation run with a much smaller workforce, a much smaller base of homeowners??

Well, here are some....

Dramatic decline in payroll tax revenue. Dramatic decline in Property Taxe revenue? How then thus our nation keep up & keep moving?

Only ONE SOLUTION that Experts know of REGARDLESS of your beliefs or Political leanings.

HIGHER, MUCH HIGHER TAXES ! You think the Income tax rate is high today? How does a 60%, 65%, 70% tax bracket sound to you? No Politician, No Gov't wants to Talk about what this nation is facing in the next 10 years. But its coming. No Republican, No Conservative, No Democrat, No Liberal can do anything about that. Its the Only way the baby boomer generation & our nation will survive.

Remember this, Once upon a time in the 50's, 60's- we had tax rates triple of what it is today. Well folks, we are headed that way again.Politicians who sell voters on Tax cuts & lowering taxes are using that to win votes for now. But in the very near future- No one can stop the train.

Disclosure: Most of Europe & Canada have Tax Rates double, triple that of the United States. Majority of Europe Rent, not own their homes. Majority of Europe have ONLY one car. What's the other side? Europeans have a MUCH healthier & longer life among its seniors. Europeans on average have 4-6 week vacations for its employees & workers. European Seniors don't have to worry about healthcare. European seniors get checks from the Gov't just like the US. But a healthier, Less stress workforce.

Many many more problems

But at the end of the day, America may be a weaker, poorer nation than it once was. It may be the end of the once might economic giant. But its not the end of world.

As Cramer of MSNBC said it perfectly. " Americans will be forced to adjust to the NEW NORMAL. Its the NEW AMERICA. A more modest, less fun, less material wealth, but a nation still much better off than any 3rd world country. The older generation of americans in the 80's knew of this life. But 90% of today's Americans have No Idea what exactly do they mean by the NEW NORMAL.

One point Europe is mostly socialized so YES they pay double taxes but that is because the government subsidizes and controls a lot of the public utilites like power, gas, oil ,housing so aleast it benefits everyone! The US is trying to do the same but is only spreading the wealth to the poor while the middle class get the corkscrew by footing the bill but getting little to no benefits. In Europe and Canada Health care is mostly subsidized by the government so yes the people get higher taxes but their day to day expenses shrink. The US is the opposite.

[nowitsshowtime]

As probably stated, in terms of your parents buying a house came down to knowing how to budget, knowing what was important and what made them happy. Family made them happy not all the nick nacks they couldn't afford. Cooking a meal made them happy, brought them together, and saved money.

For instance that shiny new car that is pretty expensive that you just bought for 30k, and the new shoes and clothes that you just spend 2 grand on, which you will soon enough replace since next season you "have" to wear different colors, and since your "hobby" includes fashion.

Then to be the center of attention you spend nearly $2,000 a year on your fancy phone. Yea $400 on a phone plus $100+ a month for usage. My favorite is when people have these phones just so they can look **** up online, when they will be home in a half hour to use the computer (and not even talking about business men and women).

That is just the tip of the iceburg. People nowadays spend a grand on a TV like its nothing, and nevermind all the other perks to bring the "quality of life" up...in the short run. I think in the long run its going to eff a lot of people over, especially when they have to cut back. Enjoy!

(end rant)

PS - not aiming this at the OP, but how a lot of people nowadays think.

[BPerone201]

This is why I'm trying to go to college in and around up-state NY or MD next year and then I'm going to come back when I have everything situated and done.

I really can't be distracted by family, friends, parties, while trying to afford an apartment for 2 while in college. New Jersey definitely tops the list as being one of the most expensive states, and to lag onto that, it's one of the most distracting places to be (everyone and everything is so convenient)

I love New Jersey, but college here will be hard because I'm the type that rather party and try to do my homework at 1am.
~

You don't even have to go far, I would only be 2-4 hours from home tops.

[SweepTheLeg]

Originally Posted by Dingo99

I voted for Christie and I am glad he won....

Well then you reek of entitlement that other people in your age group seem to be rife with.

If you're 26 and making 45k, you are successful. It may not seem like it to you, but you know what? You can do a lot with that money as a single person.

I'm sorry, this entire thread sucks and you just have people who want to mope with how bad NJ is and the economy is agreeing with you.

You want to do better? It's up to YOU. Not Christie, not Obama, not faceless people on a messageboard. Stop with the pity party and get your act together.

[joe moving]

Not trying to undermine the OP, but how is that successful if on 45k you can barely support yourself on that.

Does the OP have a college degree... will he be at 100k in 4 more years? Or will increases beyond 45k be gradual.

[Dingo99]

Originally Posted by joe moving

Not trying to undermine the OP, but how is that successful if on 45k you can barely support yourself on that.

Does the OP have a college degree... will he be at 100k in 4 more years? Or will increases beyond 45k be gradual.

I do have a college degree. I have no idea if I will be getting raises and for how much... I live in New Milford and work in Mahwah

After deductions and taxes my weekly paycheck is about $560.

1 bedroom Apartment- $1050/month
Utilities- $100/month
Cable/Internet/Phone- $100/month
Car insurance- $130/month
gas for car- $100 a month
Food- $250 a month
Cell Phone- $40/month (a standard cell phone with text messaging)


That is $1770 spent every month already...

Only thing allowing me to save any money is my second job where I pull in $100-150 a week cash.

[luckyshoes]

Originally Posted by bababua

This is the truth. The truth is not what you make but what you spend. People act is if they cant live a nice life in NJ unless they make 200k. Thats just wrong. If you want BMW,Crazy Cell Phone Bills,2 trillion cable channels,high tech stuff and the best of the best of course you do. Our parents didnt do this thats why they got ahead. In my family eating out was a luxury, done maybe once or twice a month. Cable?? What is that? Just a diffrent way of living. Stop crying and make the most of your situation.

Right. And everyone thinks they deserve to live in a 4 br center hall colonial in the top town.