PeachParts Mercedes-Benz Forum - View Single Post - How has this economic slowdown affected your life?

pj67coll · #3 10-21-2011, 10:45 AM

Well. My wages have been frozen now for four years. My wifes income has declined over the last two by about 15K and will likely decline further in future. We made the mistake of getting married and buying a house at the wrong time, so we are upside down by about 100K on our mortage. I listen with wry amusement to the idiots on the news blathering on about wether or not we will go into another recession. We never got out of the last one. I fully expect that either one or both of us could be unemployed in the next couple of years and in that case we'll probaby say screw it and walk away from the house. I've been managing ot pay off debts. So my truck is payed off and I'm slowly paying down credit cards. But I just dont make enough to do all that and save so I have no savings. My plan is that by middle of next year I'll be debt free, assuming I still have a job and then able to save again. However my imediate concern is my vehicle which I think may require either a lot of money spent on it soon, or replacement. I'm not in a good positoin for either so, that could quite probably screw me again. I'm sure things will get a lot worse before they turn around, if they turn around at all within the next decade.

I worry for my step kids, aged 14 and 10. The 14 year old is extremely bright and could easily be a scientist, engineer etc. Unfortunately he is adamant about going to MIT and becoming and architect. Wether or not he get's into MIT if he really does pursue the architecture thing I believe he'll be needing to learn Mandarin if he wants a successful carreer. It's unlikely to happen in the US.

The younger kid is screwed. She has severe dyslexia and learning disabiliites. Her futrure is bleak, even if the country were not screwed.

- Peter.