Recession?
I’d really like to be able to say that I’m not worried about the “recession” (or whatever we’re calling it) that seems to dominate the news these days, but that would not be completely accurate. While it’s not something I worry about, it is something that is on my mind a lot these days.
Specifically, I think this is the first time in my life where I’m actually wishing things were a bit more like the environment my parents enjoyed when they joined the workforce. You know, back when you could count on some degree of loyalty from your employer, back when pensions were still common, back when you couldn’t get a mortgage for a home you couldn’t afford, back when everyone paid off their credit cards each month…
Ella and I are just now getting on our feet. She’s making real money in real estate these days, after we’ve spent several years investing in her career. I’ve finally landed a job that I enjoy and that pays really well. We’ve spent 3 years fixing up our home and it’s finally getting to the point where it feels like it’s ours. Sure we’ve got lots of things we’d still like to do to it, but we’re trying to take things one project at a time.
The fact of the matter is though, that our lifestyle is very much tied to our income. I’m sure that was true for my parents to a lesser degree, but for my generation it is a different dynamic. In relative terms, we are not savers. Combine that with the executive greed that permeates Fortune 500 companies these days, where the approach to meeting the arbitrary expectations they set with Wall St. is to slash and burn first and ask questions later, and you’ve got a recipe for a lot of nervous people.
I saw a story this morning on the local news about a guy who lost his job and now he can’t pay child support. He loves his son, and he’s not some deadbeat dad, he just plain lost his job. So now he gets to spend all kinds of time with his son, he just can’t pay his ex-wife child support. If this guy and his ex can’t work out an agreement, he could get sent to jail for being delinquent on his child support payments. This guy has sent out over 600 job applications and just can’t find anything available in his field. So now he’s considering taking a lower paying job at a factory or something, just so he won’t have to go to jail. Sobering stories like that get me to thinking “you know, I have no reason to believe I’m immune to the effects of this thing.”
Obviously I’m not worried about child support payments, but we do have two car notes and a mortgage that unemployment won’t cover. Have I done everything I can to be prepared in the event that I lose my job? Should I be trying to make myself look more important at work? What if I need to change careers? I know that losing my job is something that’s pretty much beyond my control, but I feel like it’s still a possibility that’s “out there.” That annoys me. Maybe I can join the TSA. We all know they’re not going anywhere anytime soon.
Specifically, I think this is the first time in my life where I’m actually wishing things were a bit more like the environment my parents enjoyed when they joined the workforce. You know, back when you could count on some degree of loyalty from your employer, back when pensions were still common, back when you couldn’t get a mortgage for a home you couldn’t afford, back when everyone paid off their credit cards each month…
Ella and I are just now getting on our feet. She’s making real money in real estate these days, after we’ve spent several years investing in her career. I’ve finally landed a job that I enjoy and that pays really well. We’ve spent 3 years fixing up our home and it’s finally getting to the point where it feels like it’s ours. Sure we’ve got lots of things we’d still like to do to it, but we’re trying to take things one project at a time.
The fact of the matter is though, that our lifestyle is very much tied to our income. I’m sure that was true for my parents to a lesser degree, but for my generation it is a different dynamic. In relative terms, we are not savers. Combine that with the executive greed that permeates Fortune 500 companies these days, where the approach to meeting the arbitrary expectations they set with Wall St. is to slash and burn first and ask questions later, and you’ve got a recipe for a lot of nervous people.
I saw a story this morning on the local news about a guy who lost his job and now he can’t pay child support. He loves his son, and he’s not some deadbeat dad, he just plain lost his job. So now he gets to spend all kinds of time with his son, he just can’t pay his ex-wife child support. If this guy and his ex can’t work out an agreement, he could get sent to jail for being delinquent on his child support payments. This guy has sent out over 600 job applications and just can’t find anything available in his field. So now he’s considering taking a lower paying job at a factory or something, just so he won’t have to go to jail. Sobering stories like that get me to thinking “you know, I have no reason to believe I’m immune to the effects of this thing.”
Obviously I’m not worried about child support payments, but we do have two car notes and a mortgage that unemployment won’t cover. Have I done everything I can to be prepared in the event that I lose my job? Should I be trying to make myself look more important at work? What if I need to change careers? I know that losing my job is something that’s pretty much beyond my control, but I feel like it’s still a possibility that’s “out there.” That annoys me. Maybe I can join the TSA. We all know they’re not going anywhere anytime soon.
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