In today’s Chicago Sun-Times, Sandra Guy tells the story of a young man who chose to take part-time jobs over the past four years. He did this to write a book. Now he’s found that he’s not able to save or put money aside for retirement. Sadly, this story does not stop with people who have chosen part-time work. Many Americans are stuck in part-time jobs that offer no chance to save for proverbial rainy day.
Even many full-time employees have faced several years of small raises or no raises at all. One of my clients is married to a corporate lawyer. Her husband has not had a raise in 5 years. His company stopped contributing to 401K savings. This example shows that even accomplished professionals are facing an ever tightening noose of insecurity.
What will we do? Too many people are asking that question.
Today’s Chicago Tribune has an excellent feature on Gen X (age 28-44) and how they are being affected by the current recession. As the article notes, many members of this generation began their working careers during the Dot.Com Bubble, which makes them even more skeptical about their future.
To read this informative article, click here.