Generation X can be defined as individuals born between 1966 and 1975, though many people consider individuals born into the early to mid eighties as part of this generation.
As generation X approaches the advent of their retirement, there's a looming sense of uncertainty. Is there a retirement? Probably not. In fact, Gen-Xers are earning a remarkably low income. The question is, what happened? "I try to remain in the present moment and not live in fear of the future," says Vera Johnson, a Generation Xer. Vera nearly lost her home in 2010, just after the housing market crashed. This was during the recession, a time Generation Xers lost a large percentage of their income. It would be trouble enough if people like Vera were stuck with no retirement plan. Not only does Vera lack a retirement plan, she's barely getting by.
Mortgage Payments
Generation X lost a lot of their wealth between 2007 and 2010. This information is according to a Pew Economic Mobility analysis. Prior to this, they were having troubles. In the early 2000s there was a 67 percent drop in the Nasdaq Composite Index. This was when a lot of Generation Xers were starting their careers. While most of them did not have money invested in stocks, the effect that this drop had on the economy impacted their businesses. Fast forward to 2007-2010 and Generation X is having a tough time with the housing collapse.
Student Loans
Amidst the turmoil of successive economic busts, student loans played an integral role in debasing the economic growth of Generation Xers. "Under the impact of successive booms and bursts, many Xers have struggled to afford a family or keep their home, much less do better than their parents," says Neil Howe, co-author with William Strauss of books on generations in American history.
The average income for 35-44 year-olds went down 9.1 percent in three years, ending in 2010. It's difficult to make payments on necessities like student loans if you're given circumstances do not allow for fiscal growth.
The Value of Property
After the real estate crash, property values dropped as well. It's no surprise, either. Primary residencies fell 21 percent. This means that a home that cost $215,000, went for an appraised value of around $170,000. This resulted in a shift of homeowners becoming home renters, which in turn resulted in many individuals missing out on potential assets.
The Job Market
One of the largest challenges for financial improvement is the limited growth in the job market. The effects of a market with limited growth potential are obvious. Without the generation of income, individuals will be unable to amass any kind of wealth. The impact on the economy? Well, Generation Xers who are out of a job or newly hired are likely to spend less. It will be necessary to save and store money. If the economy does not have individuals putting money into it, it will hurt. Therefore, it's plain to see the rippling effect across the country.
Consider precious metals as a kind of investment opportunity that lasts through the perils of an uncertain economy. A solution to the Generation Xers out there is to save hard and invest carefully. Overcome Investing Challenges-Precious Metals
Article Source: http://EzineArticles.com/?expert=Tim_J_Stevenson
Article Source: http://EzineArticles.com/8605833
As generation X approaches the advent of their retirement, there's a looming sense of uncertainty. Is there a retirement? Probably not. In fact, Gen-Xers are earning a remarkably low income. The question is, what happened? "I try to remain in the present moment and not live in fear of the future," says Vera Johnson, a Generation Xer. Vera nearly lost her home in 2010, just after the housing market crashed. This was during the recession, a time Generation Xers lost a large percentage of their income. It would be trouble enough if people like Vera were stuck with no retirement plan. Not only does Vera lack a retirement plan, she's barely getting by.
Mortgage Payments
Generation X lost a lot of their wealth between 2007 and 2010. This information is according to a Pew Economic Mobility analysis. Prior to this, they were having troubles. In the early 2000s there was a 67 percent drop in the Nasdaq Composite Index. This was when a lot of Generation Xers were starting their careers. While most of them did not have money invested in stocks, the effect that this drop had on the economy impacted their businesses. Fast forward to 2007-2010 and Generation X is having a tough time with the housing collapse.
Student Loans
Amidst the turmoil of successive economic busts, student loans played an integral role in debasing the economic growth of Generation Xers. "Under the impact of successive booms and bursts, many Xers have struggled to afford a family or keep their home, much less do better than their parents," says Neil Howe, co-author with William Strauss of books on generations in American history.
The average income for 35-44 year-olds went down 9.1 percent in three years, ending in 2010. It's difficult to make payments on necessities like student loans if you're given circumstances do not allow for fiscal growth.
The Value of Property
After the real estate crash, property values dropped as well. It's no surprise, either. Primary residencies fell 21 percent. This means that a home that cost $215,000, went for an appraised value of around $170,000. This resulted in a shift of homeowners becoming home renters, which in turn resulted in many individuals missing out on potential assets.
The Job Market
One of the largest challenges for financial improvement is the limited growth in the job market. The effects of a market with limited growth potential are obvious. Without the generation of income, individuals will be unable to amass any kind of wealth. The impact on the economy? Well, Generation Xers who are out of a job or newly hired are likely to spend less. It will be necessary to save and store money. If the economy does not have individuals putting money into it, it will hurt. Therefore, it's plain to see the rippling effect across the country.
Consider precious metals as a kind of investment opportunity that lasts through the perils of an uncertain economy. A solution to the Generation Xers out there is to save hard and invest carefully. Overcome Investing Challenges-Precious Metals
Article Source: http://EzineArticles.com/?expert=Tim_J_Stevenson
Article Source: http://EzineArticles.com/8605833
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