Thursday, May 14, 2009
Young People Cutting Back More In Recession
The Pew Research Center takes a look at the impact of the recession on various age groups. Not surprisingly, folks my parents' age are the hardest hit since they've lost so much of their nest eggs. Older, retired people are feeling the least stress since they hopefully already had most of their finances squared away. Young adults had very little money to lose in the stock market, but they're cutting back more on spending. Which is a good thing.