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There’s no real trick in my experience apart from trying to live below your means and save as much money as you possibly can. If you have a partner, it helps if they work in a less volatile profession. Ultimately, I think it’s wise to try and transition out of agency to something more stable once you have kids or start approaching middle age (if you’re below C-suite) as at that point the uncertainty becomes a lot more stressful.
This. Years ago, when I was just starting out in advertising, I bought a place that was well below what I could afford and saved money I would’ve spent on a more expensive home. I was recently laid off after my agency lost a huge account that they had had for decades and at my age, I am probably aged out of advertising. But my place is paid off, as well as my car and I have money in the bank. Now I can afford to do something that might pay less (and with less stress!)
Chief
A healthy dose of Xanax and weed.
I’m 42 and it causes me a ton of anxiety. How realistic is working in this industry another 15-20 years or keeping my income at these levels.
Not very realistic.
That’s the world pre pandemic! Nothing is guaranteed. Try to lower & cut out unnecessary expenses. Up your emergency savings.
It’s the reason I still rent even though the rent is insane.
I’m constantly anxious, I’m freelance but I also had the same level of anxiety about job stability as a full timer too. I wish I had tips—I think just knowing that security is always an illusion, so just do what you can. Don’t make huge financial commitments without having a lot of savings to carry you through at least a 6 month period of unemployment…and I know that’s not possible for a lot of people to save up but, this is why I haven’t tried to buy property myself, because I cannot trust this industry to keep me employed and paid well for the next 5-10 years (because I believe unregulated AI is going to destroy millions of creative jobs by that time). Everyone says renting costs more but with property taxes and maintenance and other moving fees, I don’t think buying property is on my life-bingo card 🫠
Everyone I knew over 50 is pretty much gone from Integer/TPN. My hunch is AI will push the “aging out” of the OMC agency world even lower to the 40’s post the merger. Experience seems to be a liability in this new world. Too slow and too expensive. Just my two cents. Good luck and have a plan if the tap comes.
Handled it by jumping in house to tech and having zero debt
Time to be adults people.
Meaning?