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I believe there will be many opportunities to make money but it takes a lot of sacrifice and luck to some degree. Invest in the stock markets. Buy a two family house instead of a single family home.
But remember above all....if you have your health you have everything.
<-- millennial graduated college in 2010. Graduated with no job prospects and did **** all for 6 months in the great recession. Decided to actually do something about it and get a master's degree and finished that in 2013. Not underemployed now and won't be underemployed for two decades.
Stop whining you make us look like a bunch of pathetic losers trying to shift blame to other people. It's embarrassing and really not a good look.
Out of curiosity, why did you decide to double down and go for the master's degree after no job prospects with your bachelor's? What did you major in?
Out of curiosity, why did you decide to double down and go for the master's degree after no job prospects with your bachelor's? What did you major in?
I’d be interested to know.
I’ve been underemployed for so long that my bachelors is pretty much irrelevant and I’m working in an awful field that’s difficult to break out of (call center agent). I took a call center job back in 2009 after being laid off from one job and let go from another within a year. I had to take what I could get and just haven’t been able to break out of it. If I don’t want to still be doing this when I’m 50 I’m going to have to make a decision soon whether or not to go back to school for my masters or at least take some classes and get some certifications to update my skills. I might also think about a career change. I’m not as passionate about my intended field as I was when I was 18.
Going back to school would involve taking on debt and I’m not sure I’m psyched about doing that for something that did me so much good the first go around.
Last edited by bawac34618; 04-21-2020 at 08:24 PM..
Millennials are set to inherit tens of trillions of dollars within the coming decades from their boomer parents and relatives. Yes, boomers are disproportionally wealthy, but that money doesn't just vanish.
Most of that money will be consumed by the nursing home and healthcare sector.
<-- millennial graduated college in 2010. Graduated with no job prospects and did **** all for 6 months in the great recession. Decided to actually do something about it and get a master's degree and finished that in 2013. Not underemployed now and won't be underemployed for two decades.
Stop whining you make us look like a bunch of pathetic losers trying to shift blame to other people. It's embarrassing and really not a good look.
This is good to hear. The struggle is real, but the outcome is what you make it.
When I graduated, I had difficulty finding a job locally. So I had to move for an opportunity (that turned out to be better than expected). So I packed my bags and moved to work. After a while, I wanted to come back home, so I quit, moved back, and started a business. The business ran well for about 10 years. Then another recession hit and I couldn't compete with the low prices the bigger companies were charging. So I shut down and went to law school where I rode out the recession.
Gotcha, this would work out for a set group of people. I'm glad you didn't bring up trading, that is not a good idea for the average person who lacks the extensive knowledge. It does open some opportunity for some that have the needed capital to get started. The problem is during these times a lot of people are unemployed or underemployed, so it makes it increasingly difficult to do for some people. Also some people have family members that they may be helping through all of this. Not trying to make excuses, just pointing out that everyone's situation is different.
I'm just going to assume you are probably single and don't have kids. Your parents probably aren't living with you either. These can be great times for people in that demographic, I believe once you have dependents it makes it harder to make a move like that, because other people will feel the impacts of your failure and it will be harder to brush off. Overall, I agree if you are in this key demographic then a recession could be a good time to make some moves if you have the capital set up.
Success = preparation + opportunity
The downturn is a powerful opportunity for success for those that prepared for it.
My savings rate for the last 5 years has been close to 75%.
Well it is because of fundamentalist Christianity that we have the government we do right now so yes, it’s partially to blame.
I’m not religious. I’ve been to church once in the last 10 years and it was at the request of my democrat mother in law.
I believe in hard work and personal responsibility, and that weed makes you a low functioning moron. The Democrat party hates straight white males like myself, I would be a moron to vote for them ever again.
Both husband and I are millennials. I graduated college back in 2008. Before I graduated, I actually had a job offer. Woohoo! I was going to graduate and then start working right away. Then the economy tanked and they rescinded their offer. I was not able to find a professional job at all. No one was hiring. It was freakin' depressing as hell.
My husband and I now own our own investment company. Here's the thing. We both were hit pretty hard by the last time the economy crashed, so when we strategized our business we really planned it out so that we would have several safety nets for ourselves as well as our company. All these companies you hear about that are going under, they were operating right at the limits before the quarantines. We are pretty unscathed by this whole thing because we have spent the last 7 years preparing for this eventuality.
The economy is a pretty diverse environment. It is also very unstable. It is simply stupid for any business owner to be operating his business right at the limits so that anything could push them over the edge into bankruptcy.
One last thing. I am absolutely convinced that modern education, public and private, train people to be subservient employees. Why do I say this? I got a masters. And through all the years of education I had, I was never ever taught on how to manage money or start a business. Never ever. When we started our business, we were told by everyone around us that we would fail. When our income from the business was greater than our full time jobs income combined, we decided to quit our jobs to dedicate full time to our business. And boy, did all of our families tell us to stop screwing around and go "get a real job". Most people have been trained to think that being successful at owning a business is for someone else, like Elon Musk and Bill Gates. "Normal" people like us have to be good subservient employees and spend the next 30 years working for someone else so we could get a gold watch when we retire.
This is a problem. When millennials couldn't find a job, instead of starting up a business to support themselves, they do whatever they could to work for someone else. Never even occurred to them that it was possible to start up their own thing. Why? Because the system has brainwashed us into believing the only way to succeed is to work for someone else.
The downturn is a powerful opportunity for success for those that prepared for it.
My savings rate for the last 5 years has been close to 75%.
So we often disagree..but it’s funny we are both in the same boat in regards to this. I cannot figure out how being flush with cash benefits me here. What is your strategy?
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