Comments on: How to Make Yourself Recession-Proof http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/ personal finance that makes cents Tue, 07 Oct 2008 23:19:36 +0000 http://wordpress.org/?v=2.5.1 By: Adam Hyman http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-125008 Adam Hyman Fri, 28 Mar 2008 20:40:42 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-125008 Very important article, especially now, since the economy isn't doing well. Very important article, especially now, since the economy isn’t doing well.

]]> By: Jack http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119414 Jack Tue, 26 Feb 2008 20:16:58 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119414 I really liked the link to past recessions, however I wonder about the advice on going into bonds with interest rates so low and inflation so high. Don't bond prices decrease once rates go up I really liked the link to past recessions, however I wonder about the advice on going into bonds with interest rates so low and inflation so high. Don’t bond prices decrease once rates go up

]]> By: JerichoHill http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119292 JerichoHill Tue, 26 Feb 2008 14:17:10 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119292 It's a good article, sans the advice to move one's long-term investments into safer waters. That behavior should depend on one's time horizon and the transactions costs. Mainly one should consider a more forceful move to bonds if they are approaching retirement and want to lock in gains, but that should be occuring over the life cycle of investing anyways. But yeah, recessions. A scary media word, not so scary in reality. It’s a good article, sans the advice to move one’s long-term investments into safer waters. That behavior should depend on one’s time horizon and the transactions costs. Mainly one should consider a more forceful move to bonds if they are approaching retirement and want to lock in gains, but that should be occuring over the life cycle of investing anyways.

But yeah, recessions. A scary media word, not so scary in reality.

]]> By: Adam http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119263 Adam Tue, 26 Feb 2008 09:57:29 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119263 I just constantly think of a world like that in Waterworld, or of an impending asteroid collision with Earth, and it just makes something like a recession seem not so bad. But then again it also puts me about two nights sleep away from setting up an appointment with my psychiatrist, so maybe not a recommended strategy. I just constantly think of a world like that in Waterworld, or of an impending asteroid collision with Earth, and it just makes something like a recession seem not so bad. But then again it also puts me about two nights sleep away from setting up an appointment with my psychiatrist, so maybe not a recommended strategy.

]]> By: Ron@TheWisdomJournal http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119245 Ron@TheWisdomJournal Tue, 26 Feb 2008 04:13:24 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119245 Always have a back up plan at your job. My father in law always had a complete business plan sitting ready. On two separate occasions, he was called in for the "downsizing" speech, but he used both opportunities to present a significant cost savings project to his employer (tens of millions in savings). On both occasions, he was put in charge of the project and made it work. He was able to weather every storm and retire on his own terms. Always have a back up plan at your job.

My father in law always had a complete business plan sitting ready. On two separate occasions, he was called in for the “downsizing” speech, but he used both opportunities to present a significant cost savings project to his employer (tens of millions in savings). On both occasions, he was put in charge of the project and made it work.

He was able to weather every storm and retire on his own terms.

]]> By: Minimum Wage http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119242 Minimum Wage Tue, 26 Feb 2008 03:52:29 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119242 Liquor stores, fast food, and convenience stores are largely immune to recession, unless they are dependent on an immediately proximate workforce subject to downsizing. Liquor stores, fast food, and convenience stores are largely immune to recession, unless they are dependent on an immediately proximate workforce subject to downsizing.

]]> By: RacerX http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119237 RacerX Tue, 26 Feb 2008 03:35:17 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119237 Great timely post. Especially happy that you included, "Keep your Job." It is interesting that people will run around to save $1 on Tide, but won't do the things that can add 1% to their income! Great timely post. Especially happy that you included, “Keep your Job.” It is interesting that people will run around to save $1 on Tide, but won’t do the things that can add 1% to their income!

]]> By: Daniel http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119235 Daniel Tue, 26 Feb 2008 03:06:04 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119235 I've found that being frugal can help you become a more valued asset at your company. It's no big secret that company's are wasteful, so help your company save money, like you help yourself! I just found a way to help my company save $2 million + a year! You can check out my most recent blog on it! -Daniel www.youngandfrugal.com I’ve found that being frugal can help you become a more valued asset at your company. It’s no big secret that company’s are wasteful, so help your company save money, like you help yourself! I just found a way to help my company save $2 million + a year!

You can check out my most recent blog on it!

-Daniel
http://www.youngandfrugal.com

]]> By: Dividends4Life http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119218 Dividends4Life Tue, 26 Feb 2008 01:28:24 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119218 It is all a matter of perspective. If you have a good job, a recession is a opportunity to buy great companies at a bargain price. Best Wishes, D4L It is all a matter of perspective. If you have a good job, a recession is a opportunity to buy great companies at a bargain price.

Best Wishes,
D4L

]]> By: NCN http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119213 NCN Tue, 26 Feb 2008 01:01:15 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119213 I try to live so that I can make it when times get tough - and thrive when things are going well. With this mentality, I don't feel deprived during down times, but I do feel blessed during good. NCN I try to live so that I can make it when times get tough - and thrive when things are going well. With this mentality, I don’t feel deprived during down times, but I do feel blessed during good.
NCN

]]> By: jeffeb3 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119211 jeffeb3 Tue, 26 Feb 2008 00:44:59 +0000 http://www.getrichslowly.org/blog/2008/02/25/how-to-make-yourself-recession-proof/#comment-119211 You mean "recession resistant". You know how disappointed I was as a kid when my waterproof watch stopped because I took it into the pool? You mean “recession resistant”. You know how disappointed I was as a kid when my waterproof watch stopped because I took it into the pool?

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