I can sympathize with many people in this situation, this is what drives me to save as much as I can, as I fear being someone in this position. There are too many people I know that are 50+ and are doing jobs that can be done by most 20 year olds, but they don't have any other option and though they tell about making far more back in the 90s most blew through it. I was speaking to guy that's about 57 and has been a salesmen for 30 years, he mentioned how I missed the golden years when money was flying in and I mentioned, "Yes but I feel lucky coming in 2009 when the economy was shot because I save as much as I can because lean years might always come back," and that clicked with him, and while I was expecting the whole,' you're young, go out and spend the money,' he gained a lot of respect for me.
Though it continues to hurt many people, I feel lucky graduating during the economic crisis, but mostly because I had support and I was able to find work, seeing how bad things have been has given me persepctive and made me conservative with my money, I can see how many older people that grew up in a more stable financial environment are now hurting.