Another Fed prediction I can't wait to prove wrong
I recently turned 35, and along witht traditional lamentations about increasingly bad hangovers and not likely new music, I was also greeted with the knowledge that the best years of my earning potential are definitely not in front of me. According to a study commissioned by the Federal Reserve Bank of New York, your twenties lay the foundation for your earning potential for most of your career. Specificallythe study concludes that subjects who were not rich by age 35 were not very likely attain wealth from wages later in life.
This is sobering. While part of me wants to cover my ears and sing la-la-la-la-la pver & over so I son't have to listen to the truth, it is only becoming harder and harder for workers to differentiate themselves in a way that foces employers to pen up the checkbook. Add that to lingering credit card and student loan debt and yeah, the losgistics of achieveing make-it-rain status doesn't seem all that likely.
Dystopian Futurez may be the name of this blog, but for my sake & the sake of my cohorts I hope it's not an economic reality.