Under 25 and unemployed?

[DWarrior]

Originally Posted by Goku

I should use this time to learn tings....

Oh yeah, while you unemployed mofos have so much free time, check out TED.com
learn about the universe and shit

[Sheepy]

Oooh when I have more time (aka. not trying to get sleep) I'll check that out. Seems interesting!


Anway. 21 and living with the parents. Have a job at Five Guy's Burger and Fries, but only get about 20 hours a week due to a bigger focus on schoolings.

[spooky]

If an 18 year old worked 10 hours a week at a shitty $10 an hour job and threw it into a Roth IRA, into any actively managed mutual fund earning around 12%, maybe my math is wrong(following the rule of 72), but just at 10 hours a week, you'd be a millionaire(after taxes) at age 42.

Doing the math in reverse, 10 hours a week, 52 weeks in a year, is 520 hours a year. 12,480 hours total between 18 and 42. That works out to over $80 an hour. Any fucking teen that is too good to make $80 an hour deserves to fail at life.

That's fucking 2 hours a day, 5 days a week. A million bucks at 12% is $120,000 a year in interest, and a Roth IRA is tax free(there's some conditions).

Fucking kids.

[jeffdrafttech]

Originally Posted by picard102

I guess it depends on what you mean by physical jobs. I don't know anyone my age interested in manual labour blue collar type jobs. Nor do I think they would consider it unless it was a last resort. Maybe it's because I live in a city now. Most people I grew up with in a small town are in service or white collar jobs though, so I can't see that being the overriding factor.

I don't get how someone with no real life or business experience would believe that they are too good to do any work. Based on having sat through a bunch of State-U courses, so they're too educated? I know planty of educated lazy idiots. I get why a really smart great student feels that way, but an average kid who was lucky enough to have decent-to-good parents?

I had to sit through a meeting with the dumbest slowest person who has ever worked for me and listen to him say how he's pissed that his salary is shit after having worked his way through college with us for the last three years. Bitching and moaning about how he spent $25k on school. My boss was there too and piped up that he would work on getting a raise in next year's budget for him, I cut off my boss and reminded them both how useless the kid is. Fuck him, let him quit. I can train a replacement in a month and be back on-track to succeed.

[jeffdrafttech]

Originally Posted by spooky

If an 18 year old worked 10 hours a week at a shitty $10 an hour job and threw it into a Roth IRA, into any actively managed mutual fund earning around 12%, maybe my math is wrong(following the rule of 72), but just at 10 hours a week, you'd be a millionaire(after taxes) at age 42.

Doing the math in reverse, 10 hours a week, 52 weeks in a year, is 520 hours a year. 12,480 hours total between 18 and 42. That works out to over $80 an hour. Any fucking teen that is too good to make $80 an hour deserves to fail at life.

That's fucking 2 hours a day, 5 days a week. A million bucks at 12% is $120,000 a year in interest, and a Roth IRA is tax free(there's some conditions).

Fucking kids.

Ah, the wisdom of AM radio listeners

[spooky]

Originally Posted by jeffdrafttech

Ah, the wisdom of AM radio listeners

Good call. I'm a Bruce Williams fan, and I originally did hear him on AM radio back in the mid 90s. He's why I discard the sports section of the paper and for years, had subscriptions to Fortune and Forbes.

Bruce Williams is on iTunes now. Been listening to him 3 hours a day for 14 years, I believe. Longest running radio show on the planet. No shortage of critical thinking, financial problem solving, and just about anything he feels like talking about.

Yes, I believe he votes republican on most federal issues, but he has actually held office(unlike any of the loud mouth, no experience political nuts like Limbaugh, O'Reilley, Beck or Ingraham), he's also not anti democrat, anti Obama, or anti anything, really. His radio show does wander into politics now and again, but it's not a political show, he has no agenda.

Check him out, you may like him.


something to ponder from Bruce:

Can you imagine working for this Company?
The Company has a little over 500 employees.
26 have been accused of spousal abuse.
7 Have been arrested for fraud.
19 have been accused of writing bad checks.
117 have bankrupted at least two businesses.
3 have been arrested for assault.
71 cannot get a credit card due to bad credit.
14 have been arrested on drug-related charges.
8 have been arrested for shoplifting.
21 are current defendants in lawsuits. 1998 alone, 84 were stopped for drunk driving.
Can you guess which organization this is?


It is the 535 members of the United States Congress. The same group that perpetually cranks out hundreds upon hundreds of new laws designed to keep the rest of us in line

[punk'n]

Originally Posted by RachaelBachael

Read a great article on Huffington Post yesterday about this. It says that only 46% of 16-24 year olds are employed right now. That is the lowest rate since records on jobs have been kept.

Recession Creating A Lost Generation; Young People Can't Find Jobs

I'm 21 and in college. I've been working since I was 15 and never had a problem finding a job until now. This summer was horrible because jobs that are usually given to college students (mainly office and restaurant jobs) are given to older people who lost their "real" jobs and have kids to feed. It's super shitty. I'm graduating soon and I'm terrified that I'll have to wait tables for years while waiting for a "big girl" job to open up.

This is a huge problem, especially in my industry (I'm a graphic designer). I graduated college in 2006, right before the recession hit hard, and I am barely clinging to one of the few jobs left in my field. My best friend is 23 and graduated from the same school last December. She just found a job slinging burgers last month.

[gumby013]

I can't relate to this unemployment problem. When I decided to get a job again after my mini-retirement, I found one in 10 minutes on craigs list...seriously. Just have to be smart about selling yourself and tailor each resume/cv to the job you are applying for. Try to put yourself in the mindset of the person doing the hiring. What qualities will they be looking for? Highlight those qualities when presenting yourself.

[Ant-LOX]

Graduated High School at 17 - Been working a physical job since I was 18. 24 now, Money is never a problem because I'm not apart of any scene, and I don't follow any trends.

Same job for 6 years at a supermarket. The job requires no thinking at all, so I'm able to think about projects and listen to music/podcasts all night long.

I have been thinking about saving money for retirement, I want to retire in my 30's/40's. And buy a big empty warehouse, and buy exotic birds, and kitty cats. Lose my mind, then be found dead after I fall into an industrial sized fan that chops me to bits.

It's a dream, and I'll get there, 1 day at a time.

[DWarrior]

Originally Posted by spooky

If an 18 year old worked 10 hours a week at a shitty $10 an hour job and threw it into a Roth IRA, into any actively managed mutual fund earning around 12%, maybe my math is wrong(following the rule of 72), but just at 10 hours a week, you'd be a millionaire(after taxes) at age 42.

Doing the math in reverse, 10 hours a week, 52 weeks in a year, is 520 hours a year. 12,480 hours total between 18 and 42. That works out to over $80 an hour. Any fucking teen that is too good to make $80 an hour deserves to fail at life.

That's fucking 2 hours a day, 5 days a week. A million bucks at 12% is $120,000 a year in interest, and a Roth IRA is tax free(there's some conditions).

Fucking kids.

That's just stupid.

First, I doubt anybody gets 10% long-term without having a large initial capital to invest.

Second, you're ignoring inflation. It takes $50k today to buy the same amount of goods as $10k bought in the 70s. So sure, your savings will increase, but will not counteract inflation all that much. It's much wiser to increase your earning power through education than work shitty jobs hoping for unrealistic returns to offset the crap wages.