Should You Move for Opportunity?
In this Show
According to Chris Christopher, director of consumer economics for IHS Global Insight Inc. in Lexington, Massachusetts, quoted in Bloomberg Businessweek “the decline in mobility among young adults “is economically significant…it is a lot more expensive to get started, to move, to find a job. In terms of social mobility, job mobility, overall geographic mobility, they are not doing as well as their parents and grandparents.” Jarrod and Grant discuss the importance of needing to follow the money and the opportunity, to not be held back by old thinking, staying in one location and growing your business there is acceptable, but thats just average you have to push beyond and go where the opportunities are. There is no limitation to any individual. If you are unhappy with your situation you can move beyond it. Kenneth Johnson, senior demographer at the Carsey Institute at the University of New Hampshire in Durham, said that “migration is a key advantage of the American system historically…”the ability of growing areas to attract migrants from a large national labor pool has historically helped the U.S. adapt to changing economic conditions.”
If you are being held back by fear or distraction a millennial has to take the appropriate steps to move beyond this, it is vital to their success to break out and seize opportunities available to them. Bloomberg states that “economists and demographers say a combination of relatively low-paying opportunities, the burden of student loans and an aversion to taking risks explains the reluctance to relocate”. Even if this is a concern Jarrod and Grant emphasize that nothing should be a reason hold you back. If you have an opportunity to increase your revenue know your purpose, take responsibility and take action. Otherwise as William Frey a senior fellow at the Brookings Institution in Washington who specializes in migration issues, quoted by Bloomberg “they remain stuck in place and the recent slowdown is really an interaction of demographics and a continued housing- and labor-market freeze. Millennials are mired down, very cautious about buying a home or moving to new areas.” Grant often discusses the importance of no matter how you feel, where you are you must show up. If something is holding you back identify it and push beyond it, it is the obligation you owe to yourself and to your success.