At some point today I remembered what my topic from yesterday was. As you recall, I had this idea and then went into a four plus hour meeting and forgot about it. Does that mean my synapse repaired itself? Possibly I'm growing new connections?? Wishful thinking.
You're 21 or 22. You're graduating college. In this economy. You're screwed. Seriously, if you're an MBA coming out in this market you have $100k+ in debt and NO job prospects. There's what...seriously....250,000 MBA's out there in the market place who HAD jobs already. Isn't that a decent guesstimate though? Given the millions of unemployed and the layoffs on Wall Street, I think it's a decently accurate number. You're just hosed.
Or if you're just graduating college and you have to find a job in this market. Again, you're screwed.
It's so freaking arbitrary!!! What if I were born 20 years later?? What if I were born 20 years earlier? Or in a different socio-economic family?? Or as the oldest child or the middle child instead of the youngest? Life is soooo freaking random. Yeah, you have control over some stuff, there's no doubt. But for the really big things in your life, it's random!
Now some people will argue that hey, if you're a hard worker or intelligent or whatever that you'll succeed no matter what. I counter with, what if you graduated high school or college in 1931? What if you were born in a very rural town with limited schooling? Or in the inner city where you had to fight off gangs and drugs AND had teachers that were more interested in surviving day to day than in your education? It's random folks.
So it reverts back to the things I'm thankful for.
#113 that I was born in the great country of the United States of America.
#114 that I was graduated just prior to one of the longest bull markets in history.
#115 that I was born into a great family which instilled great values in me.
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As many of you know... Sunday is Joes 39th Birthday ;-) I'm taking up a collection to name a star after joe. www.starregistry.com
we all know what good friends Joe and Rocky are...maybe we can get a discount?
While it may be the case that graduating MBAs are a bit screwed, I don't think that applies quite so much to graduating college kids.
It seems to me that there is and will continue to be a market for entry-level positions that pay cheaply, particularly in careers that do not require a great deal of OTJ training.
I absolutely 100% agree Joe. In fact studies of real investor returns show that your date of birth relative to the up and downs of market cycles is one of the biggest factors in your investment performance. It is total luck. Bad luck in my case since I am just entering my peak earning years in what will be hopefully one of the biggest bear markets in a long time. (I say hopefully because I hope there won't be a worse one... when I want to retire for example!)
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