Why 2022 is a Gamechanger for Young People Starting Careers

Margie D. Moore
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In the last 25 years, Barry Bulakites notes there have been three significant opportunities for each generation since 1995 to get into the market for the purpose of long-term wealth building, which turned out to be enormous launches for those that got on board timely. The first was after the dot-com bubble popped and markets crashed in 2001. The second opportunity was the more infamous 2009 real-estate bubble recession that lasted until 2013, cutting the market in half with losses. And the third was the milder COVID plunge in early spring 2020. Each one of them gave current young people once-in-a-lifetime opportunities to jump in with significant investments and see them go back up tremendously in value.

Today, 2022 hints to be the next recessionary downturn. It’s showing all the signs of 2009, compounded with a much more insidious rise in inflation that hasn’t happened since the 1970s. And while everyone is complaining the economy is going off the cliff after years of rising and gaining strength, Bulakites points out for young people that that precipitous drop is precisely what the doctor ordered for a great entry point into investing and retirement savings.

Remember, no matter what the investment, the key strategy is to come in low and sell when values are high, producing the highest gain possible. Young people have a couple of things working in their favor, even if not a lot of cash seems available for big moves. First, time is the most significant advantage. Starting early, even at 20, is incredibly smart as investments continuing from that point forward will gain with time and compound, oftentimes far better than the best market traders can produce from what Barry Bulakites has seen personally.

Second, recessions and market drops essentially put everything at a discount price. If one has the ready cash, some of the best entry points for big investments become available during bad economic times. Barry Bulakites reflects on the fact that every professional trader knows this, which is why they usually have a cash reserve waiting for just such moments.

Third, young people can also make investment mistakes right now without making dramatic, negative changes to their overall future. Even if an investment decision goes badly, young people have the time to make it up again and recover. The same can’t be said, Barry Bulakites agrees, for someone at 50 or 60.

Finally, and most importantly, folks starting out their careers have the unique capability of being able to put aside income without being heavily burdened by living costs, family support, high taxes, and debt, a typical mix that comes with middle age. Barry Bulakites advises by simply carving out extra income or promotion bumps and not spending them on recurring costs, people can leverage significant financial gains early in their careers, putting that money into retirement savings for long-term gains instead. Few other times in life offer such a big chance at financial success. Don’t become another example of that old saying, “youth is wasted on the young.” Bulakites encourages young readers to take advantage of their time now in 2022 for tomorrow.

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