The economy is at an all-time low for our lifetime, times are getting tough and the government apparently needs to do something about it.
If you are not aware of the state of the economy, you must really be stuck in the college bubble and completely oblivious to the world around you. Just stop reading now if that is the case.
We hear our parents complaining about how much they just lost in the stock market and how tough it is going to be for us when we graduate. But is it really so bad?
I know for most of us, we really don’t have much money (if at all) tied up in the stock market. If you do have an expansive stock portfolio, kudos to you, young investor. So what else is making it tough for us?
Well, finding a job may be a challenge, especially for those art majors out there. Have you ever taken a look at experience.com? There are hundreds of job postings, but you just have to aim for the right industry in this economy. If you are looking to go into the United States automotive industry, you may want to re-evaluate your career plans. One industry we know that isn’t hurting – the Peoria Police Department. When they are running short on cash, they just hand out more tickets for underage drinking.
However, I think the poor economy may not entirely be a disadvantage for us college students.
Look at the gas prices. They haven’t been so low since the day I got behind the wheel of my first car.
On the contrary, if you are a freshman or sophomore, your college fund may now be worth half of what it was when you first entered. That is arguably one of the few disadvantages.
One major advantage I see, at least for the juniors and seniors, is the financial opportunities when we graduate.
Let us say you are fortunate enough to get a job when you graduate. More than likely, the economy is still going to be down. Granted, we are going to have some hefty school loans to pay off, our graduation is going to be prime time for investing.
For example, I was talking with a friend of mine who graduated five years ago and did just exactly that – he invested. Unfortunately for him, he has lost more than $10,000 in the market. Amidst my sympathy, I could not help to think about the financial opportunity for us. Our opportunity is exactly the opposite.
When we graduate, the market will most likely still be low, giving us the perfect opportunity for growth. Also, the housing market will most likely have very competitive prices, giving us yet another opportunity.
Overall, I think we need to re-evaluate our situation and realize the potential for financial growth we all have. The market inevitably is going to bounce back. It is just a matter of time.
Wouldn’t you like to be that person that took advantage of this opportunity?
Jordan Hill is senior marketing and professional sales major from Red Wing, Minn. He is the Scout ad manager.
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