How to Prepare for a recession?
I’m in my late 20s working my first job. Never been in a recession before as an adult. The number of IPOs happening this year worries me. Feels like a recession is coming soon. What is it like? How shall I prepare for one?
“Feels like.....”. 🙄
Save your money. They’re a good to buy *if* your job’s safe & stable.
Buy Albertsons and co stocks . Recession make people to cook. ✌️
I think you should prep for Oracle layoffs rather than recession.
Save up six months of expenses in cash. If you have a family, save up 12 months.
This is the only real solution. Beyond that, keep your inter-company network strong for potential referrals and stay current in your ability to interview
Save cash and keep your resume / skillsets polished. My partner and i lost 4 jobs in 2 years during the great recession. If you are willing to hustle while looking for a job you will be fine.
I was in tech. My partner was in banking. Yes 2007 through 2009. The floor fell through in both industries. Lesson learned.. worrying about losing a job is worse than actually losing it. Sometimes it is also worse to be the ones picking up the pieces when your colleagues are walked out. There is no such thing as job security in the US. Be ready to be nimble and you will be fine.
First of all, good job on preparing for it. It's better to be prepared then sorry. Many good suggestions here, I will add few * Move to a stable company which takes care of it's employees. Of course, all the companies will be impacted, but if you are talented, you can easily survive in Faang companies * If you have any risky assets, check if you are ok with value fluctuations in the next 5 years. If not liquidate and move it to cash * If you have lot of cash, you can invest some % in safe investment vehicles More than anything, keep calm and don't stress, that will harm you rather than helping you. Things will get better soon (in 2-3 years time). All the best 👍
Nobody knows what will the next recession be like. That’s the whole point. If we knew what’s coming we’d be ready, and possibly prevent it from happening. The recession may hit a particular sector badly, for instance, dotcom hit tech. It took years to recover. Some companies were never the same or went down. The bottom line is that you cannot prepare. When it hits you’ll fight for your life and possibly survive. I went through tough ones and don’t think I’m ready for another one yet I know there will be more than one incoming. Fuck it. I’ll deal with it when it hits me
Grain. Guns. Gin. That’s one way to do it. Another way is just to chill DFD...
230K, 4 yoe
Is this a bait? I gave you TC but where is my advice?