This is depressing !!!

Geez,

You aren't joking. That is depressing.

Good post.....

 

It isn't depressing, but it should be a wake call to those that aren't prepared. I am afraid I don't understand. They had ample time to make money during the dot com age. People only five years older then I am were averaging 80-120K/year. They should have been living off of 30-40K and stashing the rest into a retirement account or under their mattress.

Maybe I am uncompassionate (in fact I know I am), but at age 24 I don't feel too bad for them. They made their decisions. Those in my generation (I guess we are Y...I don't the generation years), but we realize that Social Security isn't going to be there and we have to plan for own retirement (if we care to retire at all). I made my way through school. I went to the local community college for one year and then transferred to a state university (which I am still there). Low cost and instate. I paid my way (without loans by only taking one or two classes a semester) while still working FT. Instead of buying Prada shoes and Gucci skirts I invested the rest of my money in real estate. And there are many others out there just like me. I went through my credit card binge...paid them off and ain't going back. It is disclipine. I don't understand why it is hard for people my age to obtain that.

We aren't doing bad because bad things happened to us, but because of stupid decisions we made.

The last part of the article page 2 caught my interest:

'So is Karen prepared? On this subject, she does her best slacker impression. "I can't even tell you how much I have in my 401(k), and I have two of them floating out there with companies. I'm just going to hope it works out at this point.'

Hello? She doesn't know how much she has in her 401K or which companies it is invested in?! Lack of preparation, lack of personal responsibility, and lack of motivation is going to be the downfall of my generation.

Just my $.02

Dani

 

Hey, I agree.

What I meant by depressing is that these young people had great money-making opportunities, and now they don't have anything to show for it.

That is what is depressing.

I didn't make myself clear, sorry... ;-)

 

Manequinne,

You apologize too much. I was just going by the topic subject line. Not disagreeing with what you or Jamie said.

Dani