Job market is poppin
For us younger engineers, the job and stock market have been treating us very well for our entire careers. Can the older folks provide some advice on how things are like in a downturn? What can we do now to shield ourselves (financially, job stability, etc) when the next downturn happens?
Haha if everyone switch of fang, what about other company
Thank your president for the success and vote accordingly!
Going to fang is too late dude. If you get in now, more likely your toc will suffer in the next recession. You need to get ahead of others, not following the herd. Choose a start up and retire after it 10x.
Isnt the point of rsu is being static, unaffected by the market?
No.That’s the point of TIPS bond.
Living within ones means is a rule I've lived by for decades. And has served me well.
What is your living within ones name
Limiting unnecessary liabilities as a starter. Having a large enough savings cushion to pay monthly obligations should one become unemployment for an extended period of time.
Don’t be like the other shitbirds on here with high TC but still carrying student debt.
Better to carry debt if the interest is cheap. Invest your money in financial instruments that will give you a greater return
It’s never better to carry debt
Pay off your debt and live below your means. I’d also advise against getting underwater in a house you can only afford in a bull market.
when are we going to hit that recession
save as least 25% of your income into VTI/VTSAX. Whenever the recession hits, keep doing the same thing.
It’s really tough to say what companies will be spared in a recession and which ones get hurt. The last recession didn’t really hurt tech all that much. If advertising takes a hit, Google and Facebook stand to see a huge decline in earnings. But even then, they make so much money per engineer it’s hard to see them making significant headcount reductions due to a temporary downturn. The companies that stand to fail the fastest are the unprofitable startups that are completely dependent on investor cash. If investors get spooked, we’ll see a lot of failing startups and suddenly it will become easier to hire experienced engineers. That could hurt tech salaries for sure. The worst thing you can do is have no savings to fall back on when things get tough. Make sure you have enough money in the bank to get by for at LEAST 3 months, preferably 6.
Everyone better switch to FANNG!!!