2008/2009 feel like very special year for me, I could feel all the people around me are very different compare to before, they have a lot of worries, I overheard one of my respected senior talking about their worry about their pension, worry about the future generation, worry about their job security, a lot of worry, but as a millennial I have no clue why they're so worry about them.
To flash back it today, I'm still unable to understand all their worries, it may be the reason of age-gap, the one age group that felt stronger came from the older generation.
Well, I would like you to describe what's your feeling about 2008 and why it is so special compare to any other year like 2009,2010,2011 etc.
Most millennials, especially younger ones, have a lot less money saved than previous generations. Cost of living is much higher now, wages are stagnant, and consumer culture also encourages high levels of debt. That means on average, their retirement accounts are paltry, if they exist at all.
In 2008, I remember hearing the grumblings of older folks who were watching their retirement savings tank in value because they had left everything in the stock market. That's typical for 401(k) investment. Meanwhile, I didn't care because I had no retirement savings anyway. I was living hand to mouth and couldn't care less about the stock market, bailouts, or any of it.
I'm agree with it, most millenias could only get into debt, personal loan, study loan, getting married and easily piled up with so much loan that no recourse, my peer are getting 100k in scholarship in that year, but they're quickly spend it up, I'm too surprise how fast they spend the money as I thought it could be enough for a typical person to last for many years of many bills and expense, but well, not today though. I think today everyone, no limited to millenias are highly in debt, old or young all have debt.