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Posted on 2/23/16 at 10:54 am to BRgetthenet
Could someone please explain the difference between now and 2008 when gas prices were this low ? was there a OMG! were all gonna go broke attitude then ? I hate to see anyone lose their job, but i just don't fully get it.
Posted on 2/23/16 at 10:54 am to stout
i'm lucky to still be employed in the industry (god-willing, for now), but I don't think I'll be looking for a pity party, or newsanchor to tell my story, etc. We've had guys at my company contact the local news people to tell their stories and how the company is so bad, etc.
I've got a cousin that was laid off from BH and a really good friend got it from SWN. I think both were smart and saved a good bit, so they're ok...for now, and hopefully longer. The job market, however, is flooded...and I mean absolutely flooded at the moment with recently laid off workers needing to get back into it asap.
I'm just hoping I've saved enough to get through any rough patches. good thing the wife has a great and stable job to save my arse.
I've got a cousin that was laid off from BH and a really good friend got it from SWN. I think both were smart and saved a good bit, so they're ok...for now, and hopefully longer. The job market, however, is flooded...and I mean absolutely flooded at the moment with recently laid off workers needing to get back into it asap.
I'm just hoping I've saved enough to get through any rough patches. good thing the wife has a great and stable job to save my arse.
Posted on 2/23/16 at 10:54 am to NewIberiaHaircut
quote:
Medical is feeling it
Not at all that I have seen.
Posted on 2/23/16 at 10:54 am to Croacka
quote:
Well, he could have been laid off for a while, or he could be liquidating just to be safe
Could be but it's still buying $100K worth of "wants" while working in a historically volatile industry.
Posted on 2/23/16 at 10:55 am to thegreatboudini
quote:
So, a 50 year old highly educated individual with 2 children, one who is in college and another in high school, who has plenty of savings is "prepared" to lose his job and his entire stream of income?
Yes. This is what being an adult is. A 50 year old should have significant savings well beyond six months of income.
quote:
This man could have well over 6 figures in savings, all vehicles paid off, easily attainable mortgage and still be in a bind in the near future. He's not getting another job in that industry any time soon. So what, he has to sell his house to downsize and have a lower mortgage? Daughter in college has $7,000 in tuition due this August, no problem?
That's life. Daughter can receive a Pell Grant worth $5500 due to the loss of income. $1500? You can make that pretty quickly. So can the daughter.
quote:
When half of the country lost their money in the stock market in 7-8 years ago I was laughing saying "you stupid frickers should have been ready for this!"
I took a beating. I knew it was a possibility. You know what I did? I bought more stock because it was on sale.
Posted on 2/23/16 at 10:55 am to Schwartz
quote:
No, the trash are the ones that are hurting. They're the ones that took their jobs for granted, blew all of their money, and never planned for the future, zero savings, zero diversification in their skills, etc.
The smart ones knew it was coming, planned for it, and will ride it out without issue.
yup... have several buddies who were laid off after being with the company for years. both have lined up jobs with other companies already, had severance packages etc.... they were okay w/o anything for almost a year. had good talks with them. but, they were smart about things so take that fwiw
Posted on 2/23/16 at 10:55 am to NewIberiaHaircut
quote:
They don't go until it's absolutely necessary.
OK, maybe I was mistaken there too.
Personally, I don't go to the doc either until its absolutely necessary, regardless of the economy.
quote:
You think people that lose their benefits are going to the doctor?
I thought Barack had fixed all that??
Posted on 2/23/16 at 10:55 am to RedRifle
$4 a gallon shouldn't be the norm.
Posted on 2/23/16 at 10:55 am to anc
quote:
Save money, prepare for the worst. But instead, a great number of oil field trash spends money like it goes out of style - then when times like this come, they are pissed at us that enjoy "low gas prices."
So your industry could survive a 70% loss of business?
Tell me your industry and ill tell you what could shake it.
Posted on 2/23/16 at 10:56 am to stout
What fun is making money without getting to spend some?
Posted on 2/23/16 at 10:56 am to RedRifle
We get that, but why should we be forced to supplement their lifestyle at the expense of our own?
Why should we feel bad about paying less for gas?
Why should we feel bad about paying less for gas?
This post was edited on 2/23/16 at 10:59 am
Posted on 2/23/16 at 10:56 am to More beer please
Maybe we're walking into different offices. The docs I call on are feeling it, especially in acadiana.
Posted on 2/23/16 at 10:57 am to Croacka
Some would be a few grand here and there.
$100k for toys?
Maybe if he's a doctor.
$100k for toys?
Maybe if he's a doctor.
Posted on 2/23/16 at 10:57 am to The Egg
quote:
The job market, however, is flooded...and I mean absolutely flooded at the moment with recently laid off workers needing to get back into it asap.
That's a good thing for other businesses. The vast majority of skilled tradesmen left for offshore work years ago because the pay was significantly higher. There's been a major shortage until now.
Posted on 2/23/16 at 10:58 am to Phat Phil
quote:I agree, but certainly there is a happy medium
$4 a gallon shouldn't be the norm.
Posted on 2/23/16 at 10:58 am to GeeOH
quote:
So your industry could survive a 70% loss of business?
Tell me your industry and ill tell you what could shake it.
Oh hell no. But I am prepared not to have to move back in with my mother if I lost my job. And I am prepared to move to another part of the country or go to a different industry (and maybe make less money) if needed.
Follow established financial rules:
Always have six months of expenses in a liquid account.
Never have a mortgage payment more than 25% of your take home pay.
Never have toys (boats, RVs, ATVs) that have a value more than half of your income.
Strive to save at least 20 percent of your income.
This post was edited on 2/23/16 at 11:01 am
Posted on 2/23/16 at 10:59 am to RedRifle
quote:
And yet some of you idiots love to laugh at "low gas prices". You don't see the other side of the coin. This isn't just affecting the top but real people are losing their jobs and livelihood.
True, but lower gas prices also allow some families more opportunity.
It goes both ways.
Posted on 2/23/16 at 10:59 am to Scruffy
Well if you live in this state you will have to at some point. Smaller tax receipts, less consumption of consumer products, higher use of government services etc.
Posted on 2/23/16 at 10:59 am to BRgetthenet
quote:
$100k for toys?
Maybe if he's a doctor.
depending on what he did he probably made more money than a doctor
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