What are you doing financially to prepare for the upcoming recession?

At30wecashout

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Funny thing is, i was thinking of pursuing some certs in data analysis and AWS... a 6 month class i was eying to take in September, and then to test out on a couple certs. Basically i'd use the next couple years to become adept at it for a strategic career shifts... tho now you got me thinkin about the industry health. I still got time to do some research
:whoa:Don't be scared off. The problem with IT is that some places would consider it a cost center rather than something that keeps the org running and they get real disrespectful. Getting experience and some expertise puts you in good positions, though you have to become more a schmoozer as you rise up the ranks. I also am getting my AWS and an Azure cert or two and trying to move to Cloud engineer so I can A: work remote and B: make a six figure salary without having to be a manager-level or higher.
 

Prince.Skeletor

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you guys ain't doing shyt?
Man listen, this is what you do if you single.
You jerk off!!!! That's what you do!
What you don't do, is take women out!

Leave them women alone, they got their own toys these days.
If a recession is coming the last thing you want is a woman!!!!!!!!!!! :damn:
 

Serious

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Yeah man. I’m saying no to most things. No travel etc. I usually travel nonstop :snoop:

I’m also stockpiling cash. I need to payoff this credit card ASAP too.
I’m giving traveling up until mid January. I’ll reevaluate how bad shyt is then.
"UPCOMING"


Like the recession hasn't already been happening the last 2 years :heh: :heh: :heh: :heh:
the irony of this post and username but real talk the market has been pricing in a recession since the top of the year
 

Primetime

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:whoa:Don't be scared off. The problem with IT is that some places would consider it a cost center rather than something that keeps the org running and they get real disrespectful. Getting experience and some expertise puts you in good positions, though you have to become more a schmoozer as you rise up the ranks. I also am getting my AWS and an Azure cert or two and trying to move to Cloud engineer so I can A: work remote and B: make a six figure salary without having to be a manager-level or higher.
Appreciate the encouragement bro! Not to get off topic but the bolded is my end goal regardless of recession shyt. I know of some (not personally but via mutual friends) in oil n gas who pursued such certs (unrelated to their day job), then went back to the states to juggle 3 or so Cloud/AWS related gigs, mostly or all remote and they’re stacking major bread.

I don’t know the specifics of what they specialized in or if what’s best for me would be to pursue being a solutions architect, devOps engineer, cloud engineer or what. I’m new to the field so I’m trying to layout a 2 year plan to get some certs and experience at least. I got my PMP and SCRUM certs last year but this seems like a whole other ball game.
 

Conan

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You aren’t wrong, but you also don’t want to keep throwing money at a declining curve if the market continues to trend downward. I usually try to keep 70% in the market and 30% as a ‘safety fund / nest egg’. Now I’m looking to get closer to 50 / 50

If you are older, and/or have a lower risk tolerance then your approach is correct, put more in cash (or low risk T-bills to stymie inflation a bit)

If you're younger and can endure dips in the market without freaking out, put it all in (after your emergency fund is secure). Over time the market has always trended up. Pay down high interest debt fast, pay down low interest debt on time, and just stash money in the 401k or an investment account with index funds.
 

jaydawg08

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Already make the most $ I've ever made along with a secure career.

I've always lived below my means and will continue to do so, along with saving $$.. I'd recommend living below y'all means!! I've grew up extremely poor so all the money I have now is overkill to me at this point because I still live like I make 50k

Got a kid on the way so the only worry I have is spending time with him/her and sleeping.
 

Atlrocafella

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You’ll see how quickly it impacts other sectors. High inflation and rising interest rates impacts everybody and everything.

Tough, tough times are ahead. I started tightening the belt months ago. I have been working for a US tech company for a hot minute so my job security is looking suspect right now. Preparing for the worst. And now I. Having car problems.

I told folk not too long ago that all this leverage employees and job seekers were having would be short lived. Keep thinking things are just coincidences. Inflation means employers have to pay more and there’s one thing employers hate more than anything, spending money on employees. Well planned recession. Good luck folks.
Respectfully disagree. It won’t be as bad as 08.
 

Sad Bunny

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Relax.

It's a calculated risk no different than jumping into stocks now or waiting to see if it further bottoms out.

As long as you're ok with the risks (jumping too soon or too early), do what you're most comfortable with. The only idiots are those who act like know it alls.
I always invest in stocks. Why wait? The best time is now.

As for a house. Not so much. The best time is when you, as an individual, are ready.
 

Sad Bunny

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save save save
Find a side hustle or a second remote job
Pay off this 10,000 of credit card debt
Get a higher paying job
Win the lottery
Yeah I am stockpiling cash. I’m not going to rush and payoff my CC just yet. I have 0 APR but I am mad at myself for even using it so much but I’ll be alright.
 
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