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By every relevant measure, the economy is much, much better off today in 2019 than it was a decade ago in 2019? (The recession officially ended June, 2019).
Of course, that doesn't mean every individual person is better off today than they were a decade ago -- hence this poll. Are you better off now in 2019 than you were back in 2009?
In 2009, I was living in a **** hole with no degree and no experience. I had no assets, and a negative net worth at that time from building student loans.
Today, I have my degree, CPA license, and 10 years experience. Companies call me for jobs all over the country instead of me blindly sending dozens of ignored resumes.
I have a house. I got married to a wife with stable career prospects. My student loans are about half gone. I have tens of thousands in 401k.
How can I be better off today- 2019- than in 2009? In 2009 things were much cheaper and housing had crashed and you could afford a home in much of the country with a middle-class wage.
I have a nice job in Silicon Valley and I park my car on Highway 82- El Camino Real in Palo Alto. I use the facilities of a local Health Club to shower and shave and the local McDonalds to use the restroom. I like many of my coworkers love the excitement of the valley but can't afford to live here.
Please see the attached article about how tough it is in the boom cities with great employment opportunities linked below:
a little better off, my net worth has increased by 450% but cost of living has also skyrocketed and real incomes are falling in my field (tech)
That said.. when I file my taxes at the end in the statistics it says I am in the 95th percentile of income in the nation for my household size (single) so not complaining too much!
In 2008, my business' billings plunged by 70% and stayed there for two years. Fortunately, we had a house in a great suburb in a terrific school system that we could afford on my wife's salary (That's pretty much our mantra at all times--live off one salary).
Today, we are original shareholders in a well-managed REIT, my biz is doing well, and we've cut our debt to the bone. My wife is the CFO of a mid-sized and lucrative company, we sock away money every month and have several sources of passive income. If I had to hazard a guess, I'd say our net worth has surged by about 700%.
SO much better. Only debt is my new condo mortgage and a little of my SUV (~17.5k).
First of four kids hit 18, the rest turn 18 in: 2020, 2022, and 2023. Child support dropping each time.
Divorced a spendthrift wife who almost bankrupted me, max'd out credit cards in collection, max'd out line of credit at my credit union. All the black marks ("settled for less than amount owed") went away this year or last (7 yr lifespans).
Credit score went from about 560 in 2011 to 820 this year (if I am to believe Credit Karma).
Only thing that would make it better would be to find myself a rich girlfriend.
Much better off. 2009 was a buying opportunity of a lifetime that made me very comfortable. Still remember F at $1 and backing up the F-450 to load up.
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I am living in my car!
