It's a near certainty that you will be laid off at least once in your lifetime. Knowing this, what are you doing to prepare for the day when you're notified that your position has been eliminated? Do you have emergency savings to cover 6 months' expenses? Are you ready to find a new job tomorrow? Do you buy assets instead of liabilities? Do you have a side hustle? Or is hope your only strategy, thinking that your position is untouchable and too "valuable"?
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I feel like this is good advice....at least at home office.
When you hit 40 or start making too much they start looking to get rid of you. That’s what it looks like to me.
Best believe your Walmart job is like the NFL: Not For Long.
I’d say you need at least a year worth of income saved.
Pay off as many bills as you can.
Live below your means and don’t drive expensive cars or live in more house than you need.
If you can, pay off your house.
That way when your number comes up, you can survive.
@OP here. I was laid off over three years ago, but I started building my financial safety net twelve years ago. I make over $600 per month from dividend paying stocks (my portfolio is currently worth just a little under $80K), earn additional income from my small freelance writing business, and occasionally sell off assets when necessary. I am just barely keeping my nose above water, but I sleep easy. I prepared for my layoff by keeping my expenses low, saving and investing, and improving my financial literacy. Every day I'm grateful to my past self for having the wisdom and foresight to have prepared for my eventual layoff. I built a safety net when I didn't need it and now use it when I do.
Here comes the fear machine.
Whew! Calm down!