Boomers are pulling out their remaining hair watching retirement nest eggs crack and dribble out on the pavement. Gen Xers are scrambling to meet the mortgage and wondering what expenses to cut next.
Gen Y? Sweet times! No mortgage to pay. No 401K to fret about. Lose your job? Just move back in with mom and dad — assuming they still have a house.
Tammy Erickson surveys how the economic crisis is impacting the Y crowd in a blog on Harvard Business Publishing, Why the Financial Crisis is (Mostly) Good News for Gen Y.
A member of Gen Y comments on Erickson’s post:
“Despite the worrisome future of the job market and the stock market, I am grateful to be in a position where my personal financial risk is limited. I wish I could say the same for my peers, many of whom are up to their eyeballs in student loans, and will likely be unable to take advantage of opportunities in the market.”
Hey, Gen Y. Do you feel lucky? Or have you learned some lessons that us older folks didn’t see coming?
