We will come to know about the recession soon once this quarter ends. If at all recession will be there what are some of the things (Dos and Don't) to consider during recession? I would love to hear your thoughts/suggestions/recommendations. TC: 100k
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The question here is a little too general. But the big thing is don’t panic sell investments, keep a valuable skill set (which you likely have as a dev), live below your means, and wait it out.
Pay off your debts if you’re able to, establish a reputation of providing value to your company, power through it.
Agree paid off all my debts and second point still working on it 😃
If your salary is indexed according to inflation (or very close) paying debts with cash is a very poor advice. Inflation will effectively eat your debt, so if you pay 400 for a car now, same 400 in 5 years would in fact be like 100$ now. So more inflation (and if you have a good source of income that’s indexed every year) is good for your debt. I am financing large purchases as much as I can. Even 7% per year is still less than inflation, but you can still find 0% finance options. Keep cash as much as you can, cash is king during recession.
Will Postpone my home buying plan until things get settled. Will continue renting.
Yes same here still renting, though not sure if it's right decision
Time will tell, but for now, it is a safer option I guess.
We don’t have irresponsible lending which is a major diff vs 2008
True but the way people (who keep on overpaying/bidding ) think that housing prices will keep going up like last two years is not sustainable
Best opportunity of my life
When can we expect the news to arrive ? 2nd week of july ?
The recession is scheduled for July 10th at 2pm EST.
Thanks. Is there a meeting for that ?
1) Keep your job 2) Keep your job 3) Keep your job Stay away from unprofitable companies like Uber, Lyft, Coinbase, Doordash etc. if you are in those companies, Run for the exits ASAP Ideally the company you work for should have a PE no greater than 50
LOL ideally PE no greater than 20 😂 blind too skewed to hyper growth companies
Get ready to buy shit up. Ready the cash.
If your company’s stock price don’t go up again, keep selling the RSU/ESPP etc
I was able to sell some of them when it was high but holding the rest for the long term for now, do you still think it's worth it to sell at loss (based on current price) and invest in some other places like use for down payment of house ?
Keep your job, keep investing, keep some cash, keep living
Agreed!
Job not sure 😃 but rest I can still do thanks