I like to call stories like this "obvious journalism". Here's a perfect reason why:
Nearly half of people who were dubbed Yuppies in the 1980s say they now struggling financially, according to a report.
So-called Yuppies or Young Urban Professionals epitomized 1980s success, and were infamous for their high spending, Filofaxes, having the latest gadgets and splashing out on expensive dining.
Wait, you mean to tell me that people who blew their cash on a million different frivolous things are now finding it difficult to have the same lifestyle? Color me surprised! But wait, it gets better:
But 20 years on, 45% of former Yuppies claim they are struggling financially or failing to live within their means, according to Liverpool Victoria friendly society.
And yet, here we are today and people still aren't smart enough to live below their means. It's 2007 people, it's not brain surgery. If you live in a house you can't afford, move. If you are up to your eyeballs in debt, get a better job, or come up with a budget.
These people are in their 40's and 50's. If they can't get it together by now, these people are already lost. I simply cannot feel sorry for people who lived it up in the 80's and then found out that maybe they should have saved for their retirement. I'm in my 30's and I've already got a retirement plan. And to me, it's not good enough. My goal is to have around $3 million in today's terms, 30 years from now. At 4% interest, that's $120,000 a year to live off of. That's something that's EASILY done.
If you are buying the latest iPhone, fancy cars, and a big house and later on down the road you're struggling, you have no one to blame but yourself.
Travis
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