Some of us millennials have been extraordinarily lucky.
I’m an old millennial but I avoided any personal impact from the 2001 recession by being in college, on financial aid.
Then the 2008 recession didn’t hit me very hard because I wasn’t a homeowner was a single childless dude who was flexible enough to just up and move wherever there was a job, across the country if necessary. I had a different job in a different state each year from 2008 through 2011, taking big raises with each move, then eventually back to school.
Then the 2020 recession didn’t hit me very hard because my wife and I both had counter-cyclical jobs (I tend to be busier when businesses are failing) and already owned a home, allowing us to bypass much of the inflation of the post-2020 period with a fixed rate mortgage we had refinanced to below 3% in 2021.
Now, the 2025 recession is probably gonna hit us hard. But I’ve basically escaped the last 3, so maybe I’m due.
Clearly you’re the catalyst in all of this… Fate has been targeting you and each time you’ve skated throu…“GUYS! I FOUND HIM! GET THE PITCHFORKS, TORCHES, AND GET THE SACRIFICIAL BONFIRE READY! WE CAN STILL FIX THIS!”
I feel the same way. Im 1 phase removed, but have been very lucky in dodging them too.
01 i was in high school, 08 i was in college with minimal expenses. I was paying $975 per quarter for room and board including 9 prepare meals a week and had enough school ships that my quarterly tuition was also under $1000, coupled with an engineering coop 1/2 the year, i came out financially ahead.
Covid i was a salaried essential worker who had to work 3 days a week but still got paid full salary. That made the lack of available child care bearable. I also had a house that i purchased with 3.25% mortgage.
This next one im feeling already. I moved for my wifes job this year, so that new mortgage rate sucks
No, if you look closer I actually managed to avoid the 2008 stuff by kinda being immature and “behind” by not being super set in my career path in my late 20’s. My smart friends from high school and college were decimated by the 2008 recession. When I went back to school in the early 2010’s, I basically got my law degree with a bunch of people who were younger than me, and got myself on the middle millennial track (despite being an old millennial).
My delayed career progression, as a slacker in my 20’s, saved my financial situation.
And if I were even older, 2001 might have permanently set me back, too. Lots of late Gen X never really recovered from that.
Some of us millennials have been extraordinarily lucky.
I’m an old millennial but I avoided any personal impact from the 2001 recession by being in college, on financial aid.
Then the 2008 recession didn’t hit me very hard because I wasn’t a homeowner was a single childless dude who was flexible enough to just up and move wherever there was a job, across the country if necessary. I had a different job in a different state each year from 2008 through 2011, taking big raises with each move, then eventually back to school.
Then the 2020 recession didn’t hit me very hard because my wife and I both had counter-cyclical jobs (I tend to be busier when businesses are failing) and already owned a home, allowing us to bypass much of the inflation of the post-2020 period with a fixed rate mortgage we had refinanced to below 3% in 2021.
Now, the 2025 recession is probably gonna hit us hard. But I’ve basically escaped the last 3, so maybe I’m due.
Clearly you’re the catalyst in all of this… Fate has been targeting you and each time you’ve skated throu…“GUYS! I FOUND HIM! GET THE PITCHFORKS, TORCHES, AND GET THE SACRIFICIAL BONFIRE READY! WE CAN STILL FIX THIS!”
I’ll start warming up the volcano.
There is going to be a showdown, and then we are done.
I’ve seen that Unbreakable with Bruce Willis and Samuel L. Jackson, so I noe!
Well, at least you aren’t tying to sell us on “I made it this far alone with no help from nobody.”
I feel the same way. Im 1 phase removed, but have been very lucky in dodging them too.
01 i was in high school, 08 i was in college with minimal expenses. I was paying $975 per quarter for room and board including 9 prepare meals a week and had enough school ships that my quarterly tuition was also under $1000, coupled with an engineering coop 1/2 the year, i came out financially ahead.
Covid i was a salaried essential worker who had to work 3 days a week but still got paid full salary. That made the lack of available child care bearable. I also had a house that i purchased with 3.25% mortgage.
This next one im feeling already. I moved for my wifes job this year, so that new mortgage rate sucks
yeah, seems like the earlier you were born the better off you are going to be in the long run right now…
No, if you look closer I actually managed to avoid the 2008 stuff by kinda being immature and “behind” by not being super set in my career path in my late 20’s. My smart friends from high school and college were decimated by the 2008 recession. When I went back to school in the early 2010’s, I basically got my law degree with a bunch of people who were younger than me, and got myself on the middle millennial track (despite being an old millennial).
My delayed career progression, as a slacker in my 20’s, saved my financial situation.
And if I were even older, 2001 might have permanently set me back, too. Lots of late Gen X never really recovered from that.