Good Financial News

Posted by: Gene M. | Dec 30,2007


OK, I admit it, I’ve been pretty pessimistic about the economy.  Most prognosticators suggest that 2008 is not going to be the healthiest year for the economy.  With the mortgage industry still reeling from the meltdown and the general uneasiness that comes right before a presidential election, it’s going to be a pretty slow year.  That said, I like to point out good news when I see it.  

Here’s one piece: the job market in 2008 is poised to stay at a steady uptick.  Strangely, the reason that there’s going to be healthy job growth is because more and more Boomers are leaving their current employment, setting up potential vacancies.  That could make you feel good about the economy’s prospects.  Even though there are dire warnings about the health of Social Security because of all the Boomers taxing the system, there is a flip side to every issue.  While the influx of Boomers will indeed tax the system, all those retirees will help younger people looking for new employment.  

In addition, there is an expanding market in the health care industry and other professions that help out older retirees.  I recommend this article to those starting out or those who have recently graduated college.  Case in point, the need for bankruptcy lawyers.  It’s not great news that so many people are applying for bankruptcy due to high consumer debt, but in one way it creates an opportunity.  You’ve got to learn to play the system.  Yes, Boomer retirees will create a burden on the Social Security system, but there’s a glass half full approach to looking at the retirement boom as well: increased job opportunities in a variety of occupations.

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