Comments on: How to Protect Your Job When Layoffs Loom http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/ Adding a punchline to your bottom line Fri, 09 Jan 2009 00:44:05 +0000 http://wordpress.org/?v=2.6.2 By: If You Don’t Like The Economy, Just Wait 15 Minutes | Punny Money http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167757 If You Don’t Like The Economy, Just Wait 15 Minutes | Punny Money Thu, 20 Mar 2008 13:29:44 +0000 http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167757 [...] look to closer sources for news on the financial health of your employer. If things look bad, start planning appropriately for potential layoffs and other bad [...] [...] look to closer sources for news on the financial health of your employer. If things look bad, start planning appropriately for potential layoffs and other bad [...]

]]> By: Stephanie @ PoorerThanYou http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167629 Stephanie @ PoorerThanYou Wed, 19 Mar 2008 22:26:15 +0000 http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167629 Hahaha, thanks Nick - my boyfriend and his IT grad student friends got a kick out of the comic! ;) Hahaha, thanks Nick - my boyfriend and his IT grad student friends got a kick out of the comic! ;)

]]> By: AJC @ 7million7years http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167596 AJC @ 7million7years Wed, 19 Mar 2008 17:05:03 +0000 http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167596 The ONLY real way to protect your job (I have an upcoming post on this) is to start working on a plan to eventually eliminate your reliance on it in the first place; 3 steps: 1. Eliminate all 'bad' debt & control spending - that limits your daily cash req's to the bare minimum (for you) 2. Build up a 3 - 6 month cash buffer - in case you lose your job sooner rather than later 3. Build an external income - start a 'side business' (e.g. blog, MLM, online business, turn your hobby into a business, etc.) 4. Save at least 10% of your primary/job income + at least 50% of the external/business income 5. Actively Invest the money from 4. - look at real-estate (because you can borrow to buy and lock in v. cheap interest rates) or stocks (Index Funds, if you are not an expert) ... and HOLD 6. Wait and see the result ... you just may be able to fire your boss before he fires you! Worked for me ;) The ONLY real way to protect your job (I have an upcoming post on this) is to start working on a plan to eventually eliminate your reliance on it in the first place; 3 steps:

1. Eliminate all ‘bad’ debt & control spending - that limits your daily cash req’s to the bare minimum (for you)

2. Build up a 3 - 6 month cash buffer - in case you lose your job sooner rather than later

3. Build an external income - start a ’side business’ (e.g. blog, MLM, online business, turn your hobby into a business, etc.)

4. Save at least 10% of your primary/job income + at least 50% of the external/business income

5. Actively Invest the money from 4. - look at real-estate (because you can borrow to buy and lock in v. cheap interest rates) or stocks (Index Funds, if you are not an expert) … and HOLD

6. Wait and see the result … you just may be able to fire your boss before he fires you!

Worked for me ;)

]]> By: rocketc http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167536 rocketc Wed, 19 Mar 2008 13:20:25 +0000 http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167536 plonkee, i love when you use language like "quid's in" plonkee, i love when you use language like “quid’s in”

]]> By: Teleolurian http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167430 Teleolurian Tue, 18 Mar 2008 23:17:31 +0000 http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167430 I think my employers would be worried that if I leave, so would the remote sysadmin (a close friend). I think my employers would be worried that if I leave, so would the remote sysadmin (a close friend).

]]> By: plonkee http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167390 plonkee Tue, 18 Mar 2008 19:07:49 +0000 http://www.punny.org/money/how-to-protect-your-job-when-layoffs-loom/#comment-167390 No one else knows how to do one of my tasks - I think that means that I could be quids in. No one else knows how to do one of my tasks - I think that means that I could be quids in.

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