tag:blogger.com,1999:blog-2992740250270600844.post1152185710300774178..comments2024-03-24T05:26:32.964-07:00Comments on Advancing Time: What Happens After The Economic Momentum Ends?Bruce Wildshttp://www.blogger.com/profile/10181323607060607040noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2992740250270600844.post-68071547451089149182019-12-12T08:15:32.903-08:002019-12-12T08:15:32.903-08:00It sucks to put away 10% of my earnings every year...It sucks to put away 10% of my earnings every year in a 401k when I truly think a crash is coming. And will the recovery be like the recovery post Great Recession? That would be great, but I don't think we will have the room in interest rates to address that as before. But if I don't invest and things grow then I missed out. Also where else do you put your hard earned money anymore? My high yield savings dropped to 1.75% and housing in my neck of the woods is ridiculously expensive (SoCal), just saving for a down payment on an overpriced crap shack takes over a decade and you lose money to inflation. Damned if you do damned if you don't. I work in biotech and I can tell you that we have a large female representation and I calculate based on all the women I know that more than 90% will not have any children because it's too expensive and none of us have the time with a busy science career. And most of us don't own homes and we have good jobs working in a fast paced burgeoning field of cancer cell therapy. I'm tail end of Gen X and paid my student loans all of last year, but I know many millennials with 20-50k in loans left. I talk to many people at my rapidly growing company and most are just paralyzed by even thinking about the future. What future? We just work to keep working. And we have what's considered very good jobs that pay well. Turns out it doesn't pay to work on cancer treatments, shocker, so I'm going to learn to program and then get the hell out of SoCal so I can maybe buy a house somewhere. As for all my colleagues, well they are fucked. And I'll be screwed too if I don't leave. LondonBlisshttps://www.blogger.com/profile/09455965990014443153noreply@blogger.com