Economics for One

Generation X Gets a Double Whammy

Sometimes the timing of recessions in your life matters.  If they occur at the end of your career, you should have enough cushion to ride things out.  If they are early enough, you can reduce your expenditures, move in with your parents or friends, and seek low-paying jobs to hold you over.

But what happens when you get hit with two recessions back-to-back when you are starting a family, just buying your first house, and just beginning to build a career?  You can only reduce expenses so much, especially with kids.  And you don’t have much cushion.

Here’s an interesting little bit about the effect of the current and past recession on Generation X (born 1961 – 1981).

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