Thread: The Rise of the Mega-Rich

I think it's an interesting predicament. I also think that as a young person the financial crisis has opened up more avenues for me to join the "haves."

Can you share any of your ideas C9?

Well I don't have ideas per-se. I just know that in the upswing after down markets people begin to realize that younger people can provide different perspectives in the workplace. After a large layoff employers tend to allow those that are innovative and those that have experience start out on a level playing field. Given that the reason that they had to lay off such a large amount of people, is mostly due to the fact they couldn't increase or sustain current revenue streams.

Also, down markets allow people to invest and make money. Regardless of age. If a 15 year old kid can figure out that Apple, Amazon, and Netflix are pretty innovative and "disruptive" companies...with $5,000 of their saved up cash they could've come close to a profit of $3, 500 (for Apple). If you go back to January of 2009, that same $5grand would've brought in $5600 in profit, for only 35 shares. Now take that and imagine a 23 year old young professional that had $15,000 to invest. It's astronomical.

Financial crises, and economic downturn level the playing field. They are the ultimate equalizers. I personally wanted to test the waters and wanted to put a couple grand in Amazon after looking into their financials. I invested in that company right before October 22,2009. Which as you know they jumped $30 per share in three days. So I'll let you guess what my profit was by just guessing with a little extra cash. If I had, had a considerable savings account this crisis would've made me a fortune. And turned a "have-not" to a "have".

There are more examples, such as teams of young professionals that see a gap in the marketplace and come in during a dull period. The product/service may not be that good but places like betterment, groupon, and banksimple. Took advantage of the public's adverse feelings towards banks and wanting to save cash, and ta-da! Fortunes are made.

I agree with C9. Everyone is feeling the pinch at the moment. However, those that remain positive will be the ones that seize any available opportunities and reap the rewards when the economy recovers.