Like... what's the practical financial impact on your life?Right now, everything is great. I graduated college January 2009 at 22 with a degree in management technology. Finally in September 2011 the interviews picked up and I finally landed a career job that I started as a low level account manager/technical services and after a few years got promoted to IT/planning in manufacturing and I’m on my way to project management.
I sat with recruiters, applied online everywhere, even walked into places with my resume and got absolutely nothing. But that was also doing mostly insurance work, so more-or-less recession-proof. By using our Services or clicking I agree, you agree to our use of cookies. I’m doing alright now but for about 6yrs after college I was floating with bankruptcy and was 30k in debt at my bottom working 60-70hr weeks to barely meet my minimum.
If stocks really drop a lot, go full stocks.What about the dividend revenue over the last 4 years?in the same boat! Because I'm a freelancer, it's taken me about 3-5 years to reach this level of stability, but now it feels great, and it's really worrisome reading about all these predictors of an upcoming recession.Side note -- do you think we'll see another crash as bad as 08 in our lifetime?It is either terrible, inconvenient or entirely unnoticeable depending on what you do and where the 'bubble' is.Now if that seems like an entirely unsatisfying answer that doesn't provide any certainty - that's pretty much the feeling of a recession. It took me until July of that year to give up and take the first job available that paid $12.50 per hour. I was basically caught "without a chair. Here's some tips:There is not a gigantic country-destroying recession that is coming to ruin your life in the coming weeks.
This is something you should be doing regardless of how the markets look. Folks, please save the politics for other subreddits.If you're new here, please check out the PF wiki starting with the And if you ever feel the urge to change your investments because of the news or market conditions: Edit: It looks like we had to lock the thread after the number of rule-breaking comments continued to increase.I sold all my stocks so that I have more money to buy stocks when the recession hits. I never lost my job but the bonuses/commissions dried-up and I suspect that the company was skating on thin ice for a year or two, especially with trying to get credit. Great!
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Should I sell all my stocks?" That was in 2015.I only need the stock market to drop by ~33% so I can buy in exactly where I was four years ago.
I’m not retiring for 2-3 more recessions, so unless the world economy collapses for real, I’m just gonna hodl.I know it is not an optimal plan, but aside from my fun stocks, I just buy good blue chips with GREAT dividends, every so often I am like, "whoa, I got 743 in cash again, i'll just transfer the money to hit 1000 and buy another different dividend stock."
Talking heads have been predicting one ever since the last recession. Find a cheaper cell phone plan, ditch that $100 / mo cable bill, subscribe to a slower internet package, go out to eat less often, etc. Not. And then watched a LOT of it go away - on paper. I'd never had anything other than reliable summer jobs before so I just assumed that getting hired was always this difficult for anybody. Everyone is just hoping they have a chair behind them when the music stops...Yep. Others I know bought a house right at the bottom and are doing great - doubling their largest asset in a decade.There is a tremendous amount of luck involved. During the recession (s) in the early 1980's I was a kid, and my father was in the military, so it didn't affect us much. Be smart with your money, use some common sense, and be prepared to make some small sacrifices in the short term update 2: I was working my first "real" job in 2008, but the pay was so bad that I was not investing much. The only exception here is if you really are completely and utterly broke otherwise and absolutely need the money. The peak unemployment rate in the 1981-1982 recession was actually slightly higher in most states than it was in the 2008 recession, but the recession itself was much shorter.I graduated from college and got my first job during the 1990-1991 recession. By using our Services or clicking I agree, you agree to our use of cookies. I'd been doing freelance work and it just shut down immediately (no tapering off.)
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