packsaddle Posted February 6, 2009 Share Posted February 6, 2009 Gern, thanks but shouldn't you consult with the dogs first? They might think I smell bad. Link to comment Share on other sites More sharing options...
Ohio_Scouter Posted February 6, 2009 Share Posted February 6, 2009 Thanks, Gern. Stacking works for me. That's how the Egyptians buried their dead when I visited Cairo several years back. As long as we're in/near the mountains.(This message has been edited by Ohio_Scouter) Link to comment Share on other sites More sharing options...
Nike Posted February 6, 2009 Share Posted February 6, 2009 While my husband's job is recession proof, we are PCSing this summer, and I have no idea what's going to happen with this house. The housing market here has compeletly tanked. If we can't get this house off our hands, I'll have to get a job to pay this mortgage while we rent with our housing allowance. I'm not contributing to FOS this year. I'm going to donate that money to our Troop Sunshine fund to help some of the boys get to summer camp. Link to comment Share on other sites More sharing options...
DeanRx Posted February 6, 2009 Share Posted February 6, 2009 So far... not too bad. Things cost more and we won't be moving anytime soon (not that we had planned to)- couldn't sell the house for what we bought it for. Both me and wife are in healthcare - so as long as the state and fed governments keep reimbursing (they have to - right?), we'll do O.K. If anything, I've seen an uptick in the past 12 months. Maybe its the start of the boomers beginning to draw on their Soc Security and Medicare bene's while they still have some left? Major purchases have been scaled back, not eating out or traveling as much. Fancy vacation will likely be replaced by camping in a national park (not a bad trade in my view). 401K is non-existent, but I still contribute every payday. I still have 25 years before I'll be drawing on it, so I figure its GOT to come back (or the whole world is in deep crap). Dollar-cost-averaging should work in my favor over the long haul, right? I've either lost my savings, OR I have a chance to pick up the funds I was investing in before at rock bottom prices. Its only a loss if you sell right now. I pity my parents. Don't know if the market will recover in time for them to make it back. I think its going to hit a LOT of people in their generation pretty dang hard. Overall - I can't complain. Very blessed to be in my field and have a job. Funny - 4 years ago, I was envious of the earnings my friends in real-estate and finance had. Now, I'm gald I wasn't on the same boat! Link to comment Share on other sites More sharing options...
TheScout Posted February 6, 2009 Share Posted February 6, 2009 I am also in a recession proof career right now. I am very fortunate for that. I recently graduated school and many of the people I went with are having quite a hard time finding jobs. Like everyone I lost a huge chunk of my investments. Not really worried about that though since I have faith in the market and know it always goes up. I'm a young man and figure I have a long way until retirment. Figure it kinda works better for me as I can buy into the market really low and it can really only go up. My biggest worry is the long term value of the dollar. The way money is being spent and the government goes deeper into debt, I can not see the dollar remaining strong. In the end it does not matter how much money I have when it comes time for retirement. It matters how much those dollars are actully worth . . . One of the jobs of the Federal Reserve when it was created in 1913 was to hold the value of the dollar. They haven't done a good job at that. A 1913 dollar would be worth mere pennies today. I fear this trend will accelerate greatly as we contine down with this fiscal mess at a rate never saw before. Remember the Weimar Republic anybody? Link to comment Share on other sites More sharing options...
hops_scout Posted February 6, 2009 Share Posted February 6, 2009 It's impacting me in a couple of ways. I'm in my 4th semester of school and I already have about $18k in private loans to pay back plus the Stafford Loans that I have which is probably between $6-10k at this point. I've got 3 semesters after this to go. From that standpoint, I'll say some money with not having that 8th semester to pay for. Problem will be what I do at that point.. do I stay at school and begin working on a Masters? Do I enroll in Grad School elsewhere in January? Do I try to find a job short term until the fall semester? Do I try to find a "permanent" job? Time shall tell.. I have noticed there are a lot of colleges that are now hiring grad assistants or interns rather than full-time staff members in their athletic training departments. Hopefully that changes over the next couple of years.. My current job that I work while on breaks is really one where I could be cut because I am not an essential position or I could possibly see my hours increased at the expense of another employee because I am paid less than some of the others that do a similar job. A decent chunk of the revenue for the business is through insurance for physical therapy. We also have the fitness centers and those membership dollars coming in, but the main thing is the physical therapy payments. My parents cannot pay for my college. I've got 4 siblings and my parents are both teachers. We've had good times and we've had bad times. I can remember days where mom went grocery shopping once every two weeks. When the end of those two weeks came up, the house was empty. But she couldn't exactly go out and buy food until that next paycheck. On the other hand, we don't go without a whole lot now. We've managed without the unnecessary "necissities" like the game systems and such. My parents are definitely doing their part in helping the economy-- they just bought a new vehicle (2008 Trailblazer) and they have bought 3 brand new laptops in the last 2 years. The truck I am now driving is a 1998 S10 that my dad has had since 2000 or 2001. If I am able to keep care of it as well as he has, it may be driven for another 10 years. A couple of dents around the bed, but that thing is in great shape! Link to comment Share on other sites More sharing options...
Eagledad Posted February 6, 2009 Share Posted February 6, 2009 I just had and interesting conversation with a couple of friends who are in business for themselves. They are not millionaires by any means, but do well when the oil business is doing well. They are also diversified in other things to ride through the slow oil times. I just saw them walking by at a local coffee shop and said hello. We talked about kids for a few minutes and then I asked a question really just in passing, when are you expecting the oil prices to change?. Boy, that got them going and I didnt get another word or opinion in the conversation because they just started talking and couldnt stop until they got a call that pulled them out. In short, they see the present political environment hostel toward the oil industry and they are looking to get out. They have shut down their operations because oil is cheap right now, but they dont see waiting until the price gets up again because they feel the government will go after them in taxes and restrictions. They have other businesses as well but are downsizing because they think the present stimulus plan only helps unions and isnt being applied in the areas where they could be of the most benefit. They are diversifying their assets in businesses where they dont have to hire a lot of people and can get out quickly if thing dont do well, real estate being one. These guys are very interesting to me because they have been in oil since 1970s surviving through the ups and downs. Now they are jumping out. I also talked to my dad this morning who called to ask me some questions about starting a new business. He is a very liberal democrate and only wears Obama T-shirts, but is frustrated with the current stimulus bill because it is scaring away anyone who might want to consider helping him start another business. He said there is some aid out there, but it is in the area of medicine and unions. He doesnt want to start up anything that large. We dont talk politics because we are so different in our opinions, but if the democrats are scaring their most liberal supporters, we might be in for some interesting times. What I am gathering is there is a real fear of socialism running over the county and small business folks are scared. My dad has always been in favor of socialism, but I dont think he saw it in the business industry, but more in health care and retirement. The one business group that seems to think it will work in their favor are the accountants. But even they are starting to be more regulated. I think what surprising me most is how fast Im seeing all this happen. Barry Link to comment Share on other sites More sharing options...
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