What The Next Few Years Will Look Like
Stories of young adults not finding work or settling to start off at a low paying job upon graduation has become the norm. Expensive degrees that do not guarantee high paying salaries or young adults that work as bartenders or waitresses to get by is what we are seeing now a days. Computers and robots taking away jobs and creating new ones for those that are savvy enough to understand and take advantage of new technology. The middle class that is disappearing and not likely to come back in our generation blame it on the stagnation if you will. The recession of 2007-09 pretty much brought a correction to our economy. Unlimited credit can't be given to all without appropriate measures, security markets can't go unregulated forever if so they will eventually take us down a sour road.
Young adults with less experience may not be able to land a full time job therefore are becoming free agents and taking on gigs or several part time jobs to survive. Others may like the freedom and flexibility that part time employment offers. All of these young adults are adapting to what the economy and job market is telling them. We either learn to make more with less or pretty much sink into poverty. The fact that the Internet gives us an enormous amount of services and information for free has pretty much changed the way things are done.
The point is you don't want to be a one trick pony in this new economy. Be good at many things and your ability to do better than average or survive will increase. During the recession stocks and real estate which most Americans have some exposure to brought a rude awakening. At the same time gold, commodities and education were performing well. Those that diversified and did not just own real estate did better during the recession. Even now that we are out of the recession you should still diversify for example if you own an online business and this is your only source of income you could get burned. Just consider a malware or virus attack on your site, Google could take your site off searches and this can quickly mean a loss of money or possibly the end of your business if you are living paycheck to paycheck.
The future seems to break down into two roads. One road being for those that make good use of free information/technology who will learn to be resourceful and live a humble lifestyle. The other for innovators that will cash in quickly on the opportunity to make much with less just like the creators of Facebook, Twitter or YouTube have done.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.