Comments on: running scared?

By: Welcome to the Finance Fiesta, buzzer-beater edition | Mighty Bargain Hunter

Fri, 26 Sep 2008 03:51:25 +0000

[...] minutes) Living Almost Large wonders if the market’s gyrations have you running scared [...]

By: Angie

Angie — Thu, 18 Sep 2008 21:03:41 +0000

I’m not running scared of the market at all right now. In fact, just yesterday DH and I upped our 401(k) contributions another 2% of his paycheck. His job is relatively secure, we have a decent emergency fund, and I’m a SAHM who has actually turned down job offers over the last year. We’re in our mid 30s and have lots of time for the market to bounce back, so we figure that now is the time to buy while prices are low.

By: fengshui

fengshui — Wed, 17 Sep 2008 18:14:19 +0000

“I would not want to be a nurse because it’s a lot of work and pain and involvement”

Remember, being a nurse isn’t limited to just scrambling in a hospital, lifting and transferring patients, etc. There are many nurses who work in an office, M-F, 9-5, etc. That is what I LOVE about nursing! So many different areas you can work in.

I think that poster was referring to a nurses aid, where you don’t earn a degree, just a quick 8 week course at a tech college and you can usually find a job making decent money, at least $12 an hour and up to $18 an hour in some areas. In a “pinch” it could keep one afloat financially, and you get benefits too.

By: LivingAlmostLarge

LivingAlmostLarge — Wed, 17 Sep 2008 17:06:56 +0000

Not necessarily. It depends, if it makes you unhappy why do a job you hate? There is always work if you want, but going back to school for a “Recession” proof job you don’t like doesn’t make sense.

I would not want to be a nurse because it’s a lot of work and pain and involvement.

But to make ends meet I would be willing to wait tables again, work retail, clean homes, etc. So there are jobs, but it depends on if you are willing to do it.

Expenses will naturally be cut when you lose your job. But perhaps it would be awesome to not lose it.

Also by working harder, you can keep good references and potentially network to find another job faster than if you weren’t the best worked.

By: DiaryofaDINK

DiaryofaDINK — Wed, 17 Sep 2008 12:48:22 +0000

While now is the time to keep your job, many times that’s outside your control (Covey philosophy). If you can’t keep your job, seek out a recession proof job because there’s plenty of fields needing workers and becoming an nursing aide or teaching assistant can at least make ends meet in the meantime if you’re inclined to look at two areas that always have a shortage.

On the other hand, cutting back on one’s expenses to a “survive and thrive” level allows you to reduce your income needs and that IS in your control. Not biting off more than you can chew and not living paycheck to paycheck is vital in times of uncertainty like these.

By: Kim A.

Kim A. — Wed, 17 Sep 2008 12:29:55 +0000

I can offer what I did. At 40, after raising my kids, weathering a divorce and approaching a new decade in my life, I took a good look at my skills (minimal) and my education (quit college at 20). I decided it was now or never. I enrolled in the local community college. Anyone can do this. It is affordable, Pell Grants cover most of the cost of books and tuition for those who qualify, and you can take as many or as few hours as your schedule allows. My degree allowed me to transfer to a state college as a junior and I am now finishing my degree online. I didn’t like where I was heading at 40 so I took a big leap and worked hard. I am now better prepared to compete for precious jobs and set a good example for my kids. It wasn’t easy and it didn’t happen overnite but I was moving forward and I was worth every penny!

By: fengshui

fengshui — Wed, 17 Sep 2008 01:47:33 +0000

Now the feds are going to bail out AIG. $85 billion. (loan). What a bargain! Do we really have $85 billion? Where are we getting all of this money to bail out corporations? The defecit keeps getting bigger and bigger and that scares me. I do feel so very fortunate that as a health care professional, my job is very secure, I have no worries. My hubby works for his family and their business is booming so no worries there. However, we do not have nearly the emergency fund that we need. We need to save more, that is for sure.

By: Julie

Julie — Tue, 16 Sep 2008 21:07:01 +0000

I just hope that everyone who works for them comes out okay. It’s scary to see financial institutions struggling, but I’m uplifted that the bank I work with is succeeding, and has a business plan that fits with the future. ShoreBank was founded 35 years ago in Chicago by people who believed that a commercial bank could restore neighborhood economies, and it’s this solid business plan and commitment to the environment which has led to success. For more, visit this link: http://shorebankdirect.sbk.com/about-shorebank.html

By: thinkingabout it

thinkingabout it — Tue, 16 Sep 2008 18:38:52 +0000

My 403b retirement account is through AIG (No not their stupid annuities!). I’m reading of talk of one branch of AIG bailing out other branches. Can I dare to think that money held in retirement investments there might borrowed by the defaulting branches? Yarrr! I do not know from whom AIG would have to get “permission” to do that, but it should be from me and fellow investors!

By: LivingAlmostLarge

LivingAlmostLarge — Tue, 16 Sep 2008 17:27:13 +0000

The other truth is that even if you are self-employed you are still answerable to your clients. Meaning if they are suffering you won’t be hired as much. So self-employment is great, but hopefully you have clientele doing well.