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.

1 comment:

Anonymous said...

18 to 49 is a pretty broad group - almost too broad to be meaningful in terms of financial impact of the current economic climate. It seems that the younger set (just out of college) is getting hit harder by the jobs situation while the older set (35+) is more impacted by the asset losses.