Comments on: 5 Ways Twenty Somethings can Financially Benefit from the Recession http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/ Personal Finance Blog for Young Professionals Mon, 21 May 2012 12:12:51 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Julie http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-10729 Julie Sat, 08 May 2010 02:33:00 +0000 http://20somethingfinance.com/?p=1015#comment-10729 Something I'm trying to figure out: 15 year vs. 30 year mortgage I'm 25 - I'm looking into buying my first house right now. I have a question about 30 year loan versus 15 year loan. I'm looking at a home price that is comfortable to pay (5%) when the article was written? Thank you! Something I’m trying to figure out: 15 year vs. 30 year mortgage

I’m 25 – I’m looking into buying my first house right now. I have a question about 30 year loan versus 15 year loan. I’m looking at a home price that is comfortable to pay (5%) when the article was written?

Thank you!

]]> By: Robert http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-10572 Robert Fri, 30 Apr 2010 01:48:53 +0000 http://20somethingfinance.com/?p=1015#comment-10572 For those who wish to get ontot the Property ladder then the crash has brought property down to reasonable levels and yes getting Mortgage finance might not be as easy as it once was but the banks will be back to doing deals sooner or later. Good article. For those who wish to get ontot the Property ladder then the crash has brought property down to reasonable levels and yes getting Mortgage finance might not be as easy as it once was but the banks will be back to doing deals sooner or later. Good article.

]]> By: Chad Smith, CFP® http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-3509 Chad Smith, CFP® Thu, 23 Apr 2009 21:36:31 +0000 http://20somethingfinance.com/?p=1015#comment-3509 Nice "Back to the Future" reference in point 4. Your right in that real money is made at times like these. When fear is at it's strongest among investors, the water temp is normally just right for you to dive in. Actually, there's only been three times in the last 100 years when stocks were lower 12 years later than they were at the beginning of that 12 years. We just went through one. Take a guess what happened in the other two scenarios. This chart does a great job of visualizing that point... http://www.ritholtz.com/blog/2009/03/twelve-year-lows/ It's one thing to understand this point and quite another to live through it day by day. Watching your investments drop precipitously over 18 months is crushing to any investor’s optimism. However, being a 20-something or an early 30-something, for that matter, gives you an incredible advantage, as long as you don’t get scared out near the bottoms. Nice “Back to the Future” reference in point 4. Your right in that real money is made at times like these. When fear is at it’s strongest among investors, the water temp is normally just right for you to dive in. Actually, there’s only been three times in the last 100 years when stocks were lower 12 years later than they were at the beginning of that 12 years. We just went through one. Take a guess what happened in the other two scenarios. This chart does a great job of visualizing that point…

http://www.ritholtz.com/blog/2009/03/twelve-year-lows/

It’s one thing to understand this point and quite another to live through it day by day. Watching your investments drop precipitously over 18 months is crushing to any investor’s optimism. However, being a 20-something or an early 30-something, for that matter, gives you an incredible advantage, as long as you don’t get scared out near the bottoms.

]]> By: Do You Dave Ramsey? http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-3455 Do You Dave Ramsey? Wed, 15 Apr 2009 02:38:41 +0000 http://20somethingfinance.com/?p=1015#comment-3455 This is so very true... while I'm not a twenty something, I know that all the lessons I'm gleaning from this recession only pack a double power punch to those so much younger than me. I recently wrote about how not to worry so much about this recession because the next one will be so much better. I encourage you to surf over an check it out. All the reasons you mentioned are spot on. Use this tough time as a training ground for how to manage your finances moving forward. Once you're on a good path, you'll be ready to clean house when the next recession hits - and there will be another one. As perverse as it may sound, I actually look forward to the next recession because I'll be ready for it. The next recession will make me a millionaire and I have zero doubts about it. I can only imagine how much more this would be the case if I were 10 years younger. Get your financial act together - that is the message I'd tell my younger self... so perhaps someone hear will heed that message on my behalf. Thanks for sharing! Dave This is so very true… while I’m not a twenty something, I know that all the lessons I’m gleaning from this recession only pack a double power punch to those so much younger than me.

I recently wrote about how not to worry so much about this recession because the next one will be so much better. I encourage you to surf over an check it out.

All the reasons you mentioned are spot on. Use this tough time as a training ground for how to manage your finances moving forward. Once you’re on a good path, you’ll be ready to clean house when the next recession hits – and there will be another one.

As perverse as it may sound, I actually look forward to the next recession because I’ll be ready for it. The next recession will make me a millionaire and I have zero doubts about it. I can only imagine how much more this would be the case if I were 10 years younger.

Get your financial act together – that is the message I’d tell my younger self… so perhaps someone hear will heed that message on my behalf.

Thanks for sharing!
Dave

]]> By: FruGal http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-3389 FruGal Mon, 06 Apr 2009 14:07:17 +0000 http://20somethingfinance.com/?p=1015#comment-3389 I think these are all great points, as long as you manage to hold onto your job! For a lot of 20 somethings, particularly those who have only just graduated and are seeking their first job, or those who have only just joined a company, things aren't so rosey. The younger you are, chances are the less reserves you have to draw on if you find yourself unemployed. That said, I guess a positive of this is that it is teaching people to spread their interests a little wider, employment-wise, and grasp any opportunity that comes their way. I think these are all great points, as long as you manage to hold onto your job! For a lot of 20 somethings, particularly those who have only just graduated and are seeking their first job, or those who have only just joined a company, things aren’t so rosey. The younger you are, chances are the less reserves you have to draw on if you find yourself unemployed. That said, I guess a positive of this is that it is teaching people to spread their interests a little wider, employment-wise, and grasp any opportunity that comes their way.

]]> By: Trading With Common Sense http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-3343 Trading With Common Sense Fri, 03 Apr 2009 20:41:28 +0000 http://20somethingfinance.com/?p=1015#comment-3343 Funnily enough my advice to anyone in their twenties is that actually History and the clumsiness and incompetence of their so called "Elders and Betters" may well have done them a favour. Firstly if you want to play around with Stocks and Shares, if you look around wisely there has never been abetter time for the past 20 years or so to buy under valued prime stock. Yes there might be a few hiccoughs on the way but if you are into "buy and hold" and are prepared for the long haul then you could be onto something that will set you up for life. Secondly, for those who wish to get ontot the Property ladder then the crash has brought property down to reasonable levels and yes getting Mortgage finance might not be as easy as it once was but the banks will be back to doing deals sooner or later. Good article. Funnily enough my advice to anyone in their twenties is that actually History and the clumsiness and incompetence of their so called “Elders and Betters” may well have done them a favour. Firstly if you want to play around with Stocks and Shares, if you look around wisely there has never been abetter time for the past 20 years or so to buy under valued prime stock. Yes there might be a few hiccoughs on the way but if you are into “buy and hold” and are prepared for the long haul then you could be onto something that will set you up for life.

Secondly, for those who wish to get ontot the Property ladder then the crash has brought property down to reasonable levels and yes getting Mortgage finance might not be as easy as it once was but the banks will be back to doing deals sooner or later. Good article.

]]> By: Craig http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-3252 Craig Mon, 23 Mar 2009 19:48:37 +0000 http://20somethingfinance.com/?p=1015#comment-3252 Bartering is a great way we can benefit, but not just that but within the connections we make. With the internet and social communities, strangers are connecting more than ever trying to help each other, that is how everyone can benefit. Bartering is a great way we can benefit, but not just that but within the connections we make. With the internet and social communities, strangers are connecting more than ever trying to help each other, that is how everyone can benefit.

]]> By: Dana http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-3250 Dana Mon, 23 Mar 2009 14:59:38 +0000 http://20somethingfinance.com/?p=1015#comment-3250 Very nice, I had recently <a href="http://www.investoralist.com/recession-means-better-tomorrow/" rel="nofollow">written something</a> on more or less the same subject. Nice to know I'm not alone in rejoicing the opportunities presented by this recession. Very nice, I had recently written something on more or less the same subject. Nice to know I’m not alone in rejoicing the opportunities presented by this recession.

]]> By: G.E. Miller http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-3242 G.E. Miller Mon, 23 Mar 2009 01:29:10 +0000 http://20somethingfinance.com/?p=1015#comment-3242 @ Bill - good points. @ Shaun - Hah! Love that quote. @ Bill – good points.
@ Shaun – Hah! Love that quote.

]]> By: Shaun http://20somethingfinance.com/5-ways-twenty-somethings-can-financially-benefit-from-the-recession/comment-page-1/#comment-3240 Shaun Mon, 23 Mar 2009 00:04:36 +0000 http://20somethingfinance.com/?p=1015#comment-3240 Great points, especially the stocks. As Buffet said (paraphrased): I feel like a mosquito at a nudist camp. So many juicy targets. ;-) Great points, especially the stocks. As Buffet said (paraphrased): I feel like a mosquito at a nudist camp. So many juicy targets. ;-)

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