I don’t attach the word “millennial” to topics willy-nilly. A lot of our advice is aimed at everyone living in these strange times! But this advice is tailored specifically to those who came to adulthood immediately before or after the 2008 recession.
Graduating in a recession leads to earnings losses of about 9% compared to those who graduate in balmier financial climates. The pay gap takes a full decade to become statistically insignificant. For the average worker, that amounts to five grand in a single year. The lost opportunities to invest some of that income—as well as the recession-graduate’s stymied options for other jobs—creates a staggering wealth gap.
Worst of all, it’s completely fucking unfair, because we were kids when this hot mess was cooked up, yet we’re still the ones who have to eat it. We have every right to be salty about that.
There are some things you can do to get yourself back up to the level you deserve. Here’s what we suggest.Read More