All you kids again with your
can-do attitude...
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http://articles.moneycentral.msn.com/Investing/HomeMortgageSavings/WhyGenerationYIsBroke.aspx
"No one had ever taught me to make a budget or balance a checkbook."
"It's a generation that thinks it has so much freedom of expression, but it is so encumbered with debt it might not be able to pursue the career and goals of its choice,"
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http://www.usatoday.com/money/economy/2010-04-23-1Ageny23_CV_N.htm
"They're called "
Generation Y" teens and twentysomethings known stereotypically for their
coddled upbringing, confidence, opinionated dialogue, free-spending habits and openness to change.
Ultimately, however, the more than 50 million members may be best remembered for whether they can overcome the
dire financial straits that plague many of them.
Even before the recession, those in Generation Y the latest products of a get-it-now,
pay-for-it-later mind-set that has permeated the nation's economy faced a range of financial pitfalls as they embraced expensive high-tech gadgets and added credit card debt onto
student loans."
"Kristen Ammerman, 21, a senior at Michigan State University, faces such challenges and sees her Gen Y classmates struggling with financial issues while
seemingly oblivious to the potential consequences."
"A common trait within members of the generation is a belief that they have the skills and ability to make money and afford large purchases, even when it doesn't appear that they do."
"I switch around because I get bored or need to make more money," she says. She says she does not participate in Home Depot's 401(k) plan because she has too many bills to pay.
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http://www.suntimes.com/lifestyles/2195700,CST-NWS-geny24.article
" "Generation Y" -- some 50 million teens and twentysomethings -- is the first generation in a century that is unlikely to end up better off financially than their parents, according to a recent research report."
"They have high, unrealistic expectations,"
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I know you guys wont take these warnings seriously-- it's in your nature to feel invincible. When you guys are all partied-up, tuckered-out and boat-loaded in debt, and competing against a thousand other graduates for jobs, let alone residencies, then let's see how bright-eyed you are. In four years, we'll see who told who -- The optimists or the whistle-blowers.