As a young consultant only 2 or so years into my career, who has lost a ton of money in the stock market (for me) and has had a few friends get laid off...can someone tell me everything is going to be

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It won’t be okay. But that’s okay! Such is life.

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Everything’s going to be okay! You have about 40 years to retirement. This dip will feel like a blip looking back. Stay safe and wash your hands!

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a destructive spiral of doom because that’s how Lucifer wants it?

likefunnyupliftinghelpful

I was 2 years into my career in 2008, lost my ass, pulled out my stocks, missed all the rebound. It’s just a blip. Hang on.

likesmart

I’m almost 60. I’ve lived through several panics. Don’t stress. The stock market will come back and things will get back to normal. You’ll look back and wonder why you were worried.

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Sure- and I won’t even sugar coat this.

On stocks- they are in the toilet...what I learned being in my 30’s is this kind of market activity happens every 5 to 10 years. You are decades from retirement and multiple market fluctuations will happen, just keep on saving and investing.

On jobs- Having graduated in 2008 at the high of last crisis I can say it sucked in the short term. I graduated with honors with an economics degree....and only found a clerical job paying 35k for a couple years. My career recovered virtually completely in 5-6 years and honestly dont regret the time.

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Thanks I appreciate it!

I’m more just worried about losing my job. I’m not particularly good at what I do, I’m average at best. I bet people like me get let go first.

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I am 20 years in and I still worry about that. Someone once told me those that worry are rarely the ones that get let go (and are probably better at this than we think we are...)

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In 2008 I should've been buying a home in Socal or the Bay, California like a few friends and co-workers of mine were. I had a job but was too worried about everything that had happened. Now look. Huge missed opportunity. That's what I learned.

In 2008 I also learned that during recessions people are still doing amazing things. Google was founded during a recession. Uber too, etc. Verizon and other companies used it as an opportunity to take market share.

Focus on long term value and don't play into the panic cycle as it's just dumb. Soon itll bottom and human greed will kick in, as usual. The smart money is making moves when prices are low and thinking long term and good markets to enter and capitalize on. Are there new skills you could learn or new people to network with? You're young so you have so much time that you need to think longer term. "This time is different" is never different. They're all the same cycle. Trust. Itll all go by quicker than you realize and then you'll be pissed you missed all the amazingly priced opportunities.

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Just keep investing, don’t freak out. The money you have lost so far is not the end of the world and you have a lot of time. This will pass and the markets will recover.

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“This too shall pass”
My motto for both happy/sad things in life

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I’m really worried about losing my job

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Which firms have already started lay offs?

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You’re at the best possible time in your career for this to happen. Lick your wounds and learn for when it happens next (it will). Your gains and losses aren’t real until you cash out. My first year was ‘08. No raises, no bonuses, voluntary separation, layoffs. I didn’t have enough money to even buy stock, so you’re in a better position than I was. Since then, I’ve managed to save a ton of money. Despite the fact that I lost $200k, I’m not stressing out. I wasn’t planning on selling the stock for a long time, so it’s not real yet.

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Hardships are a way of helping us refine ourselves and develop the needed skills to tackle life’s problems. I lost 20% of my life’s savings and I will need to to put my kids through college starting next year. I have been on the bench for the past 5 weeks - longest ever in my career. Everything is looking bad but I’ve been through tougher times and I know I have the skills and the abilities and specially family’s and friends to help me tackle these tough times. This too shall pass - stay strong and keep pushing. Good luck.

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“This too shall pass” is my motto too.
Good luck A6!

Okay?

funny

Are you investing or speculating? If the former, then think of your time horizon, which could be as much as 40 years given your age. 40 years ago the high on the DJIA was around 1,000.

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Buy baby buy! This is a blip!

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Which firm were your friends at who got layed off ?

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It’s a marathon, not a sprint and we are all running a different race! Keep a positive mindset and all will be well😁👍

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What kills the other guys make you stronger

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Just a joke, take it as a joke-
.
Recently Better (dot) com's employees were fired from the job.
If you are some HR/Senior management personnel and hiring them.
You should reconsider your decision as they will make your organisation BETTER. :-)

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