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Millennials are Caught in the Two Recession Trap: Punished by the Great Recession and now the Great Pandemic
My Budget 360 Blog ^ | July 29, 2020 | MyBudget360

Posted on 07/29/2020 7:25:45 AM PDT by Diana in Wisconsin

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To: central_va

Sorry you dont believe me. *shrug*

But the Electrical Lineman program, for instance, had an average 1st year wage of $84,000 in 2016. And that’s just one of TSTC many highly in demand degrees. Most students make more than their professors do straight out of school.

But, I’ll go back to Fairytail Texas, since you dont believe me.


61 posted on 07/29/2020 9:19:58 AM PDT by TexasFreeper2009
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To: TexasFreeper2009
An entry-level Electrical Lineman with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $18.96 based on 8 salaries. An early career Electrical Lineman with 1-4 years of experience earns an average total compensation of $23.20 based on 29 salaries. A mid-career Electrical Lineman with 5-9 years of experience earns an average total compensation of $26.73 based on 28 salaries. An experienced Electrical Lineman with 10-19 years of experience earns an average total compensation of $28.25 based on 26 salaries. In their late career (20 years and higher), employees earn an average total compensation of $41. Link here
62 posted on 07/29/2020 9:25:44 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

But you are missing something. They fail NOT because they don’t make money, but not “enough” money to justify the time for those that give up.

You are assuming fail = bankrupt. And that’s not the case.

Example: A guy is working a typical 40 hours job for someone else. He goes home at the end of the day and gets off weekends and holiday and earns 50K. The guy thinks! HEY! I know! I will start my own business and then sit around on my ass all day long like the boss does and hire some kid to do all the work for pennies! I’ll be rich and fishing all the time! WOOT!

So he opens his own business and makes $50,000 a year profit! BUT.. he had to work long hours into the night and weekends and never gets off a holiday... and he one day wakes up and says.. WTH! it was easier working for someone else and closes the business! that is the typical situation, the business was making money, but the person didn’t want to work that hard or want the responsibility. But here’s the catch.. that was PROFIT! after BILLS! he was too stupid to realize that he was paying off that building and was building equity in it and would eventually own it along with the equipment and that the business would grow over time.


63 posted on 07/29/2020 9:28:16 AM PDT by TexasFreeper2009
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To: Magnum44

“I am so blessed both those generations didnt think like you”

My wife and I own 3 co’s. I know what it takes. You got in a gov’t job at the right time and made yours before our system went South.

I work in employee benefits. I see the layoffs and downsizing of thousands of folks who are probably more educated and maybe even harder working than you. Not everyone is as lucky as you. And yes it is hard work but also plenty of luck and timing. Running 3 companies plenty of luck and timing helped us out as much as hard work...maybe more so.

Again it sucks for people just entering the job market over the last 15-20 years due to globalization.

The millennials and younger generation will not have it as nice or easy as we did or our parents. The stats prove it. Wait until automation kicks in.


64 posted on 07/29/2020 9:30:43 AM PDT by setter
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To: setter
You must be a real inspiration at family gatherings...

"See your future. Be... your future. Make... make it!"


65 posted on 07/29/2020 9:38:17 AM PDT by Magnum44 (My comprehensive terrorism plan: Hunt them down and kill them.)
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To: central_va

You don’t have to believe me, it’s no skin off my back if you don’t. I will just continue watching the graduations at the college where they ask all the graduates in certain fields to stand up who have already received a job offer, and 100% of them stand up every time, especially in fields like nursing, accounting, and certain technical fields that are highly in demand here in Texas. They are so desperate for accountants, that the come and wine and dine the students before they graduate begging them to come to their business and not their competition. These are big accounting firms like Deloitte, PWC, KPMG etc.


66 posted on 07/29/2020 9:39:02 AM PDT by TexasFreeper2009
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To: sauropod

We started out in a basic starter home. We would periodically upgrade to a larger home in a nicer neighborhood when my husband’s income grew. Roughly 7-10 years before we could make the jump up and keep mortgage payments about the same. We also had only one car for quite some time. It wasn’t till we finished our payments on it that we could eventually afford to have two cars. The kids wore handmade, used, or hand me down clothes a lot, with the exception of a couple of new outfits for each season. I cook mostly from scratch, and use fresh produce daily. For many years, our family vacations were nearby, and very often involved camping. There are lots of ways to economize. You just have to have the determination to stick together through thick and thin. It might not be easy or luxurious, but it can and does happen. Oh, and now we are finally in our dream home.


67 posted on 07/29/2020 9:46:17 AM PDT by FamiliarFace
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To: Diana in Wisconsin

I see the children are blaming everything but themselves.
Most ignorant, laziest, arrogant, self-absorbed vapid generation we’ve seen.
Let them cry to mommy.


68 posted on 07/29/2020 9:48:03 AM PDT by DeplorableGirl
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To: BenLurkin; All

“What many believe to have been an orchestrated financial collapse, followed by what many believe to be a sham health ‘crisis’.”

All by design, Comrade. All. By. Design. :(

So glad I was born and grew up when I did. (1960-Now) So glad I had an intact family, both sets of Depression-Era Grandparents and lots of Uncles that were cops and firemen. They all taught me so much about how to survive and thrive no matter what the circumstance/economy.

I joined the Army in the late 70’s because THERE WERE NO JOBS thanks to Carter. However, I adapted and overcame. I bought my first house at age 25 (inexpensive VA Loan; all 850 square feet of it was mine!) and always made money selling, then buying UP to sell again.

I still believe in America and that you CAN make it here more so than anywhere else on Earth. BUT, you have to want it, and you have to work for it. ;)


69 posted on 07/29/2020 9:50:38 AM PDT by Diana in Wisconsin (I don't have 'hobbies.' I'm developing a robust post-Apocalyptic skill set.)
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To: BBQToadRibs

I found the chart that says people aren’t buying homes until age 47 to be surreal! I bought my first (tiny) house at age 25.


70 posted on 07/29/2020 9:51:51 AM PDT by Diana in Wisconsin (I don't have 'hobbies.' I'm developing a robust post-Apocalyptic skill set.)
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To: BBQToadRibs

In 1985. I’m not even ON that chart, LOL!


71 posted on 07/29/2020 9:53:10 AM PDT by Diana in Wisconsin (I don't have 'hobbies.' I'm developing a robust post-Apocalyptic skill set.)
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To: Renkluaf

“If you got a computer science or engineering degree you wouldn’t have these problems.”

Or you could farm. I hear that’s real easy. Any doofus can do it. ;) *SNORT*


72 posted on 07/29/2020 9:57:46 AM PDT by Diana in Wisconsin (I don't have 'hobbies.' I'm developing a robust post-Apocalyptic skill set.)
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To: Magnum44

You must be a real inspiration at family gatherings...
“See your future. Be... your future. Make... make it!”

I don’t have me head in the sand. Future generations will not have it as good as what we had. The stats are already proving it.


73 posted on 07/29/2020 9:58:47 AM PDT by setter
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To: FamiliarFace

“Plan the work, and work the plan.”

You’re channeling my all-time favorite commanding officer, Colonel Clark H. Babl. RIP, Good Sir! :)


74 posted on 07/29/2020 9:58:47 AM PDT by Diana in Wisconsin (I don't have 'hobbies.' I'm developing a robust post-Apocalyptic skill set.)
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To: setter

Well, I dont see you offering any solutions, so you might as well go Jim Jones Peoples Temple now and be done with it.


75 posted on 07/29/2020 10:07:39 AM PDT by Magnum44 (My comprehensive terrorism plan: Hunt them down and kill them.)
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To: Diana in Wisconsin

I don’t know where my husband heard the phrase, but he has used it practically all our lives. It was a reminder to stay focused on our goals. ;-)

Life has its own way of throwing curves into our circumstances. Sometimes you have to adjust and come up with a revised plan, that has the original goal as part of that plan. Eventually we have been able to get back on track whenever the unexpected happens.

As an example, my husband was unexpectedly laid off just before Thanksgiving 2018. We were stunned to our core. We were both nearing our 60th birthdays, which happened this year. We decided to tighten our belts again, like we have done so many times before. We cut back in so many ways. We had a decent savings, and figured we could last 6 months on it if we had to, but we really hoped that wouldn’t be necessary.

We were fortunate that he was given 2 months of severance pay. He reached out immediately to his network of coworkers through the years and found a couple of people who had some needs for short term contract work. The idea was that if he could get his foot in the door with a short term gig, somebody would eventually have room for him more permanently in the 2nd or 3rd quarter.

He was right, and he was offered a full time job in his field in mid-June last year. During those 6+ months, we managed to eke out paying our bills with whatever he earned from the several contracts that he was awarded. We never had to touch our savings! I guess all the practice we had when the kids were young was good training! Oh, and one other thing, we relied on our faith knowing that God would lead us through this rough patch just like He has always done. We always believed that He was (and is) with us every step of the way.


76 posted on 07/29/2020 10:34:17 AM PDT by FamiliarFace
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To: central_va
You are an idiot and fool that makes money of the misery of the US IT workers.

Ah, name calling... true mark of an ultra-lib...

I have no employees making less than 6 figures. Haven't in a decade.
77 posted on 07/29/2020 12:40:43 PM PDT by TexasGunLover
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To: TexasGunLover
I have no employees making less than 6 figures.

I made six figures in 1996 doing C/Unix. How many of those are foreign nationals?

78 posted on 07/29/2020 1:40:22 PM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

Too many. No Americans even apply since those qualified are already employed.

We need more American kids getting stem educations instead of psychology and women studies degrees.


79 posted on 07/29/2020 7:43:38 PM PDT by TexasGunLover
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To: TexasGunLover
We need more American kids getting stem educations instead of psychology and women studies degrees.

This is globalist BS. So why not let domestic market forces fix the problem? America is for Americans right???? We need to stop importing foreign nationals via H-1B (mostly from India) to lower wages and push away our best and brightest from STEM educations.

Fixed for you you globalist shill.

80 posted on 07/30/2020 5:16:40 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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