What the Financial Meltdown Means to Me

1 of 15

AOL

How Everyday Folks Are Feeling

Every American -- rich, poor, young, old, blue, red, from CEOs to average Joes -- is feeling the effect of the market meltdown. Our WalletPop writers share how they, personally, are dealing (or not dealing) with the financial crisis.

Click through our gallery to see which life stage -- and set of circumstances -- you relate with most.

First Up: A Single Mom's Perspective

A Single Mom, Renter

Name: Julie Tilsner

Location: South Carolina

What She Says: "I am the ant, and when elephants battle, it's my kind who ultimately get stomped on. So I'm clearing debt, trimming my budget, and hunkering down."

' More on Julie's Situation

Next: Her Daughter's Perspective

A Single Mother's Daughter

Name: Anna

Age: 11

What She Says: "I'm scared what the effect is. I'm scared Mom might lose her job. And I'm scared because America is getting really bad. It's in debt and we're in a war. It's like the world is getting really bad."

' More on Anna's Situation

Next: A Young Married's Perspective

Young and Married, No House

Name: Josh Smith

Age: 25

What He Says: "I share many of the same concerns as my elders regarding the overall health of our financial institutions, but by virtue of my youth I see fewer immediate downsides and a silver lining inside the gloomy forecast."

' More on Josh's Situation

Next: A Gen-X Parent's Perspective

A Gen-X Parent

Name: Lan N. Nguyen

Location: New York City

What She Says: "My husband and I both work in print journalism, which, if you read the stories, is a dying industry. I haven't had a cost of living raise in six years. We are also raising our daughter in Manhattan, one of the most expensive cities in the world."

' More on Lan's Situation

Next: An East Coast Renter's Perspective

An East Coast Renter

Name: Bruce Watson

Age: 37

What He Says: "The American building industry relies on credit. While New York floorspace is at a premium, new buildings are built on credit, renovations are made on credit, materials are purchased on credit, and contractors are paid on credit. If credit dries up, so will the building jobs and so might my wife's income."
' More on Bruce's Situation

Next: A Gen-Yer's Perspective

A 25-Year-Old Gen-Yer

Name: Ian MacFarlane

Location: Virginia

What He Says: "I'm ticked off that my generation has to pay for the foolhardy mistakes of my elders. People are getting hurt, and I don't want us to repeat the 1930's. My generation has enough on our hands that we need to fix."

' More on Ian's Situation

Next: A Mid-Western Perspective

Married Midwestern Parent

Name: Geoff Williams

Location: Ohio

What He Says: "In many ways, I'm lucky. Having been mired in debt since graduating from college in 1992 and embarking on the rewarding (but not necessarily lucrative) profession of writing, I haven't had much to lose in the 401(k) and investments department."

' More on Geoff's Situation

Next: A West Coast Perspective

Married West Coast Homeowner

Name: Sarah Gilbert

Location: Portland, Ore.

What She Says: "In response to the financial crisis, I've decided to put more of my rather small 401(k) balance into the S&P 500 (seems like a buying opportunity) and finally start college saving accounts for my boys,also invested in index funds. Hopefully we can tell them how prescient their mama was to start when the market was at the Great Low of 2008."
' More on Sarah's Situation

Next: Boomer-Gen X's Perspective

Boomer-Gen X Tweener

Name: Tobi Elkin

Location: New York City

What She Says: "I have grown more accustomed to life on the edge. I often don't expect much. I support myself with my own pluck and drive. I am constantly reminded by my Depression-era parents that I ought to have been a civil servant or a teacher or something that offers a pension. What's a pension?"

' More on Tobi's Situation

Next: A Boomer's Perspective

Boomer With Grown Children

Name: Jennie L. Phipps

What She Says: "My husband has a great job in a stable industry, but he's 63. Two years ago, we thought by this year he'd be officially retired -- doing a little consulting, but taking the winter off so we could spend the cold months somewhere warm. The economic slowdown has made us rethink our plans. He continues to work at his old job -- usually 50 or 60 hours a week -- because need what he earns.
' More on Jennie's Situation

Next: A Pre-Retirement Perspective

Boomer Looking Ahead to Retire

Name: Tom Barlow

What He Says: If the market continues to bleed, much of our flexibility will disappear, including the option of early retirement. If it bleeds enough, tax revenue shortfalls on the local, state and national level could threaten funding for social welfare programs such as the one for which my wife works. When civil servants start to lose their jobs, we'll all be crying in our Metamucil.
' More on Tom's Situation

Next: A Retiree's Perspective

A Retiree

Name: Dan Solin

What He Says: "Mary's husband died a few years ago, leaving her, in her early eighties, with a nest egg sufficient to meet her needs for the rest of her life. Shortly after his death, her trusted "investment professional" invested most of her portfolio in two financial stocks. In less than two years, the portfolio lost over $150,000."

' Dan on the Impact to Retirees

Next: An Over-Eighty's Perspective

Over Eighty

Name: Barbara Bartlein

What She Says: "My mother's house and car are paid in full and she retired with no debt. In spite of relatively modest income, she is able to put money away each month for unexpected expenses. While she does not see dramatic changes in finances for herself, she worries about her children and grandchildren."
' More on Barbara's Mom's Situation

More on AOL: 14 Companies Hit Hardest

More on the Financial Crisis:

Companies Hit Hardest by Credit Crisis
How the Bailout Bill Could Benefit You
Financial Meltdown: Ask Your Question

More From AOL:
Companies Hit Hardest by Credit Crisis

Now that you've seen how everyday people are being impacted by the financial meltdown, see which companies are feeling the heat as well. These 14 companies have been hit hard by the credit crisis.

Next Gallery:14 Companies in Jeopardy

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