“Find a need and fill it. Successful businesses are founded on the needs of people.” A.G. Gatson
James Langston’s article entitled ” Research finds millennials most vulnerable to economic impact on Covid-19″ examines how the pandemic continues to hinder the economic progress of millennials (1981-1996). This article was published in Advisor’s Edge recently. It resonated with me because I focus on how my generation can move past the burden of student loan debt and other financial issues. My focus is on student loan debt because I see how it has prevented my peers from starting families, struggling in the job market, etc.
Langston suggests that millennials are at risk from the economic effects of the pandemic. The economic effects manifest through greater reliance on wages, rising debt-to-income ratios, and lower household equity. Millennial households lack financial assets and real estate equity to draw on to help make up for lost income. Additionally, millennials are more likely to work in industries that are being hit hard by the pandemic. There has been a relatively high fixed costs for housing and utilities, and their debt-to-income ratios has increased from 178% in 2010 to 199% in 2019.
So as a millennial myself I do have student loan debt and I still work a full time job. Although I do not plan on being in debt forever and I plan on working for myself. So I am laying the foundation to change my path now. I enjoy reading and writing so last spring I wrote my first e-book entitled How Millennials Can Rise From The Boulevard of Broken Dreams and Student Loan Debt. My book is a simple guide on how to create side hustles while millennials are still working full time jobs. But even if you are not a millennial you can still read my book and get creative. Since writing my e-book I have become an angel investor on Invest Republic, dividend investing with my paycheck, and just recently got my first sale with my e-commerce business. It is my belief that the internet is the best reset button. Find out more here when you purchase the e-book @ gumroad.com/tonicarter
Thanks to the internet there are new ways to become wealthy despite the pandemic or any crisis. Use applied information to take action and change your life.
Wealth Always Reigns Supreme