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NW-Gsp

how has the economy affected you?

how has the economy affected you?  

  1. 1. how has the economy affected you?

    • working overtime
      working overtime
    • working full time
      working overtime
    • working part time
      working overtime
    • laid off
      working overtime
    • retired
      working overtime


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dirtdog

Thankfully, I am still employed and get the overtime I want. Fortunately for me, my job is recession proof. My Govt. TSP, which is similar to a 401K, took a big hit before I moved my money from the Common Stocks fund to the Guaranteed fund. Unfortunately, in the Govt. under FERS retirement, your TSP is part of your retirement; I will now probably have to stay loner then my 25-years. From January to October I lost $48,000. After the move from October to today I have made a little over $6,000. I also had to pay my ex-wife $75,000 out of my TSP in my divorce settlement.

The overtime has allowed me to rebound successfully from my divorce and actually get ahead. I consider myself lucky.

My heart aches for those who are not doing well, especially here in my UJ family. Keep your head up and keep fighting. It will all work out in the end. I will keep you all in my prayers.

Jay

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BradSouth

I have noticed contractors are now calling me back that didn't 2 years ago.

job is fine, I have been commuting back and fourth to boston to work on a few projects in our HO and my main goal was trying to break habits and run things like a business off of a PL.  We have sales people in all areas of the country but doing research on the profitability of what each person was generating over the past 10 years we had 600 of these people that we were loosing money on. On my recommendation they reviewed my data and then used a 3rd party vendor that affirmed my information and they retooled the sales people and we had to let them go that was tough but being a publicly traded company we had to pay the shareholders it their company.

Its going to get tougher this year we will not see any job growth for a while and also with this the avg salary will come down by the correction and the excess of labor.

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wingnut

The wife and I are both still Employed. But making less money. Having G.M close down the truck plant in town has got everybody around here afaid to spend money. I work at the local Chevrolet Cadillac dealership as an auto tech and things are slower. But I've away beleived in keeping life simple and not getting in over my head with debt. Life is still very good.  I got money tucked away for that new 20ga. grouse/woodcock shotgun as soon as Benelli unvails the vinci. I would have bought an ultralight by now but I'm waiting to see what the vinci is.

God Bless to all Dan

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chicago0517

It blows, but I can't complain yet. My wife's job is about as secure as anyone's could be. As long as people keep having kids, that is. And frankly, if I were unemployed you know what I'd be doing.

:cool:

Me, well, I'm in a very similar field as Mr. Eden. Marketing budgets are being cut across the board and it's got me freaked. I just got a good client deal that should keep me safe until the end of May.

As a precautionary measure I applied for graduate school and could start in August. I figure we can live off the gov't tuition loans, my wife's salary and in 18 mos I'd have a graduate degree. Hopefully things would be turning around by then. If not, I'd probably re-up for another degree.

Either way, we're cutting back. I've bought beer for the house once in two months at that was a 6er when some neighbors were coming over. No Starbuck, etc. and we went out to eat tonight for the first time in weeks. I'm FF our pup and am too cheap to buy the wood to build a table...so my back hurts. Saving desperately to have the $$ to be debt free - cars, cards, etc. - by May 15. That's the day our second kiddo enters the world and I figure that's a good date to be shooting for.

We've always been great savers. Really have. It's a good time to put things in priority.

Best,

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rosies dad

I retired at the end of 2003, and opted for a lump sum penison. That along with my 401k was rolled into an IRA and invested in mutual funds (stock and bond funds-American and foreign).

Beginning last summer I began to feel a real pit in my stomach and it was culminating when Fannie/Freddie were in the news.

Oct 8 I pulled the plug on the market, and went cash.

I lost 25% or so, but had I stayed in I would be close to 50% down. We have tightened our belts and still get by.

Thankfully I still have my normal retiree health benefits, but have a little more than two years to go till 62 (hopefully Social Security will still be there)

The scary thing is I beleive our elected leadership have lost sight of what "we need for a viable economy" in this country.

JOBS, jobs that are provided by business and corporations HERE in the USA, not in China. That and severly curbing immigration as we already have too many "workers" but lack JOBS.

I blame the two major parties, each has gone extreme Liberal or Conservative. We need middle of the road from both parties for anything good to happen.

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brueggemanns
I'm working overtime, and in my business, that's a given.  We don't get paid more, but we have a masochistic streak, I guess.  I'm pretty secure for the next year or so, and I feel lucky for that, but our savings has taken a big hit.

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KCShlly
No salary increase this year for this newspaper editor.

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redtop
The wife and I are both still Employed. But making less money. Having G.M close down the truck plant in town has got everybody around here afaid to spend money. I work at the local Chevrolet Cadillac dealership as an auto tech and things are slower. But I've away beleived in keeping life simple and not getting in over my head with debt. Life is still very good.  I got money tucked away for that new 20ga. grouse/woodcock shotgun as soon as Benelli unvails the vinci. I would have bought an ultralight by now but I'm waiting to see what the vinci is.

God Bless to all Dan

fagans?

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Ruger1

I've been retired since 2000. The bulk of my monthly income comes from SS and a pension from a municipal government. A lesser (but still somewhat significant) amount comes from my 'private' money which is handled by a financial firm. This money largely pays for my 'fun' as opposed to monthly bills - mortgage, SUV payment, utilities etc. Had a meeting with my financial adviser last week and my draw has been cut in half. Thankfully my wife has a secure position (but no raises for her or her staff this year) and provides health coverage for the both of us. Will certainly survive but with 50 % less 'fun' and I don't use that term literally - I've cut back on my shooting and any new guns, , hunting gear etc. is certainly to be seriously considered if not entirely out of the question.  Have a 'basement' business re-finishing and repairing gun stocks which will finance (if things keep going as they've been ) my gas and lodging for local bird hunting expenses come October.

Ruger1

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Thack
well I have a secure "job" if you can call it that! I have approximately 8 months of graduate school left and then I am thrown out into the street with the rest of you folks I am trying to be optimistic about future job market....

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Roost em 1st

Still employed, wholesaling construction materials. Its bad, but not insurmountable. really have to shift gears and get outside the box, work relationships more, try to expand base, sell customer service, yadda yadda...

I am also taking on side jobs of masonry again. The money is decent and the work keeps me (somewhat) in shape, but it eats up family time on the weekends.

I don't look at my 401k anymore, actually I do unfortunately. But like Jay said, keep your head up and keep fighting, and as Brad eluded to, work smart and make certain you are on the asset side of the sheet rating employee performance, not the liability side.

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Dave Gowdey

Saw this coming a mile down the road.  Last summer I decided to move out of the non-profit sector and into academia both because I wanted a change, and because universities were largely depression proof the last time.  I'm thanking my lucky stars I made the move when I did.  I now have a decent job with Tulane university for which I am grateful.  While the university now has a hiring freeze, and all raises have been suspended - things aren't looking too bad.  

Friends in the non-profit world have been gettng laid off right and left.  So, while I am definitely not thrilled with being in New Orleans and I miss the west, I'm not complaining.  Things could be a LOT worse.

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nickwilliams

The wife and I are both still Employed. But making less money. Having G.M close down the truck plant in town has got everybody around here afaid to spend money. I work at the local Chevrolet Cadillac dealership as an auto tech and things are slower. But I've away beleived in keeping life simple and not getting in over my head with debt. Life is still very good.  I got money tucked away for that new 20ga. grouse/woodcock shotgun as soon as Benelli unvails the vinci. I would have bought an ultralight by now but I'm waiting to see what the vinci is.

God Bless to all Dan

fagans?

There is no need for name calling.

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Brad Adrian
Cut back to 32 hours right now. Maybe unemployed by monday.

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OutlawTorn

My company just announced cuts in hours for all hourly staff.  Luckily, Im not hourly but as a salaried employee, Ill be working long hours to cover the slack that will inevitably set in soon.

I just got this job at the beginning of the year and was able to leave one I hated so I have that going for me - guess I cant complain about the extra work.

Working in the financial services industry I can see it happen all around me - Im just thankful that my wife and I havent been hit too hard financially - just on the timeclock.

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