In the 2008-2010 recession I lost everything, I had no money, no home, no nothing. What I did not have was a victim mentality. I tried all kinds of things, starting my own company, working any job I could find, doing temp work, etc.
I worked my ass off in the last decade to improve my situation, with the help of my family.
>>(and presumably you)
Nope, self educated, The only debt I have is my mortgage for which I about 50%+ positive equity, and have an aggressive pay-down rate that will see it paid in full in a few years from now to bring myself back to a debt free status
I do feel for people that were sold the bill of goods that is debt funded education, personally I think the way to fund education is for people to enter the workforce and have employers fund the education of the employee's.
Debt, nor government financed, is the correct way.
I also do not support Student loan forgiveness, However I do support cancelling all interest on federally owned student loans. The principle however should be paid back.
>>I will say that those who have done the best financially have been those who left the US.
that seems very subjective, but the studies I have seen do not support that. The data indicates that lots of people in the US have improved financially. Most of the Pandemic relief payments to individuals when to pay down debt, or still sits in saving accounts.
You could say that regionally, "Blue" coastal states seem to have been hit harder due to their draconian reaction to the pandemic. Nationally however I dont believe that statements bears true in the data
>Planning can only get you so far when rent goes up every year more than your wages do.
I agree there, Social stigma against multi-generational housing is a big contributor. Same with child raising. Family support structures is traditionally how families moved from one economic class to another. We have more than a generation now of destruction of the traditional family...