2012-12-23bloomberg.com

"This generation will be permanently depressed and will be on a lower path of income for probably all of their life -- and at least the next 10 years," says Rutgers professor Cliff Zukin, a senior research fellow at the university's John J. Heldrich Center for Workforce Development. Professionals who start out in jobs other than their first choice tend to stay on the alternative path, earning less than they would have otherwise while becoming less likely to start over again later in preferred fields, Zukin says.

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[Former Manhattan securities attorney Tretter-Herriger] now complements her $45,000 lawyer's salary by training horses and giving riding lessons. She says she'd like to buy a rental property and become self-sufficient in case she loses this job.

"As it is, all of my possessions still fit in the back of my truck," she says. "I can pack it in a couple hours, pick up the trailer and horses and move anywhere the gas tank will take me at the drop of a hat. What can the system take away from you when you have that kind of freedom?"


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