So how is this downturn in the economy affecting you?

[Mafesto]

I'm not trying to be critical, but I've noticed many comments pertaining to
trying to figure out how to pay for childrens college.

Why not let them get student loans?
When the graduate they will likely be making considerably more money than
their parents who have fallen on hard times.

We are obligated to get them to 18 & through high school, then it's out of the
nest & learn to fly on your own.

That's not saying you cannot help them. Heck if you're able to, help them all
that you can.

I'm just saying when your children are in their 40's & you're retired, they will
be happier knowing you can live your golden years to the fullest.
You don't want them feeling guilty knowing that you will be sacrificing all of the
way to the grave just because you had to pay for an education that they
may not even utilize.

 

[KMMAC]

I brush cut,,, with an excavator and a skid steer so when this down turn in the economy started in the fall of 05 it hit us pretty hard. We covered a wide range of work both public and private. Now we are trying to figure out what else to do that everybody and their brother isn't doing... Going through our retirement acc. just to stay alive. I need a hip replacement now, too which we had money for until this all unwound. So needless to say not only did this economy put the surgery on hold it also put a stop to getting back into sledding.

 

[Cyle]

I'm not trying to be critical, but I've noticed many comments pertaining to
trying to figure out how to pay for childrens college.

Why not let them get student loans?
When the graduate they will likely be making considerably more money than
their parents who have fallen on hard times.

We are obligated to get them to 18 & through high school, then it's out of the
nest & learn to fly on your own.

That's not saying you cannot help them. Heck if you're able to, help them all
that you can.

I'm just saying when your children are in their 40's & you're retired, they will
be happier knowing you can live your golden years to the fullest.
You don't want them feeling guilty knowing that you will be sacrificing all of the
way to the grave just because you had to pay for an education that they
may not even utilize.

Yes I agree, and I am one of those going back to school. My parents are helping me a bit (splitting tuition 3 ways), but student loans are no problem to me, very low interest rate and your right, good money when your out. Much better to get loans and not worry about money and just focus on school then worrying about money and end up wasting your time in school. 15k in loans is nothing when you can pay it off in a few months.

 

[moyiesledhead]

I'm not trying to be critical, but I've noticed many comments pertaining to
trying to figure out how to pay for childrens college.

Why not let them get student loans?
When the graduate they will likely be making considerably more money than
their parents who have fallen on hard times.

Believe it or not...up until now I made too much money for my daughter to qualify for student loans without being away from home for 2 years first. Our system in Canada is wierd that way. Looks like something we can consider now though. I'd rather she didn't have to start her adult life out in debt, but it may be necessary. The $15000 Cyle mentioned doesn't go very far for education in Canada.

 

[Beels]

Believe it or not...up until now I made too much money for my daughter to qualify for student loans without being away from home for 2 years first. Our system in Canada is wierd that way. Looks like something we can consider now though. I'd rather she didn't have to start her adult life out in debt, but it may be necessary. The $15000 Cyle mentioned doesn't go very far for education in Canada.

My old lady had the same problem. Her parents made too much money and she wasn't eligible either. She had to write in and lie telling them that she doesn't speak to her parents and got accepted. It's just stupid.

 

[Cyle]

Believe it or not...up until now I made too much money for my daughter to qualify for student loans without being away from home for 2 years first. Our system in Canada is wierd that way. Looks like something we can consider now though. I'd rather she didn't have to start her adult life out in debt, but it may be necessary. The $15000 Cyle mentioned doesn't go very far for education in Canada.

The gov't loans are dumb, I don't qualify because I have to much in assests, yet if someone had a kid they can get a fortune, but banks are pretty easy to get it from. I am in Canada, $15,000 will cover my first year including living while in school, then tuition for the second year. I agree it doesn't do much if your going to school for 4-5 years(at like $4,500 a year plus living), but for 2 years it's not bad. Debt doesn't worry me, 18 months ago I got a 30k truck loan, it will be paid off in 6 months in time to go back to school, without any help from anyone.

As long as the kid knows how hard it is to earn the money and knows they have to pay it back themselves it shouldn't be a big deal. I mean if you end up with 50k in student loans, it means you should be making some serious coin right out of school.

 

[Cyle]

My old lady had the same problem. Her parents made too much money and she wasn't eligible either. She had to write in and lie telling them that she doesn't speak to her parents and got accepted. It's just stupid.

Was that a gov't loan? I know they have some dumb rules. I am going with CIBC and they told me it would be no problem getting accepted.

 

[Echohunter]

Just wanted to bring this back to the top 5 months later and see how things are going for people now that Bernancke has announced that the recession is over . . .. work has been a little slow for me this summer but overall still decent. .I guess I would definitely say the state of the economy for the rest of the country has caught up to Iowa. . we lost our biggest manufacturing plant in my home town..announced they're closing in December. .250 some people losing their jobs in a town with 2900 population... spread that around and it will affect my trade as these are people who will not be doing any updating/remodeling now ..or at least til they feel comfortable in whatever they find next .. .
..and yes..some of the signs are pointing that way towards recovery. ..but the cost of all these changes Obama has initiated have not come home to roost yet- sorry rev. wright!! - .. .


Johnny

 

[slednutz]

thankfully I am still in school so by the time I get out in two years with my CPA exam i won't be to difficult finding a job my dad is also a CPA and the way the economy is it really does not effect him to much.

 

[Adrenaline Revolution]

I'm still working for great wages but my Wife was laid off last Tuesday.
She's at an interview right now with a local small company...
I hope she get's the job.
It'll be tight around the cave this winter without her paycheck.

Might only be able to ride every other week.

 

[TheFlyingFynn]

Still working holding on....be good year so far....but being out of work is always looming and never felt that way before. I am good till end of the year so I hope next year is good.

 

[tudizzle]

We have felt little if any of the effect of the "downturn" in the economy.

Except for now when we can't afford something we just blame Obama.

 

[black swan]

hiring freezes=more OT for exisitng....

 

[tech a]

I am personally working more than I want to because I am helping my family
out with their bills, etc....have a nephew starting college and am helping him as well....I will probably not be buying any new toys this winter since i will be
working in Cali and won't be home to play anyway.....

I still don't think we have come close to the bottom....in the northern
states construction will be slowing for winter and once harvest is over for
the farmers there will be even more layoffs.....I can see 15-20% unemployment nationwide by march.....

 

[WYrider]

We are finally starting to get hit by this. Living in Gillette WY where all your coal comes from is starting to feel Obama's boot. I work for cummins as a field tech and mostly play at the coal mines. Coal prices have been low lately but is now starting to come back up allthough it is knowwhere near where it was 2 years ago. The mines themselves are doing fine with little to no layoffs. Although when it was at its worst they tried hard to keep contractors such as cummins from working on there site to save money. They learned how to do small projects themselves. So now that they know how to do some of the work they don't call us as aften. Other contractors have layed off several people and hours are being cut back for us. Hope things get better.

 

[sledheadd]

Not much of a slow down for me. People still have to eat.
The only thing hurting us in our industry now is the high Canadian dollar.

 

[TheFlyingFynn]

So far everyone is working and doing fine...where are all the people out of work if this is the worst since the depression...its hard not to get caught up in the hype on the news...Allthough I think I am goint to post a no hire sign up at my office...get 5 people a day looking for work.

 

[sledneck88]

it sucks

I build houses so obviously this sucks big time./ Usually I look for the biggest frame possible and turn down remodel stuff but not now! Anyone need a deck, garage,addition ect... lol NOT I need to work. No 401K or retirement to lose but living on the small savings I had. I need one of those women that go to work and make $$$! I'm a single dad but surviving. Barely

 

[sledneck88]

it sucks

I build houses so obviously this sucks big time./ Usually I look for the biggest frame possible and turn down remodel stuff but not now! Anyone need a deck, garage,addition ect... lol NOT I need to work. No 401K or retirement to lose but living on the small savings I had. I need one of those women that go to work and make $$$! I'm a single dad but surviving. Barely

 

[sledneck88]

oops.

Work sucks. I'm goin ridin!!!