JaneChin shares economy sucks and prices keep rising; what is your current strategy for planning for the future?

33 responses to this plurk.

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  August 13, 2008 at 19:01 Suninthecity pray ... alot
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  August 13, 2008 at 19:01 JustJen agrees with bulletz
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  August 13, 2008 at 19:02 DebInDenver says trying to spread my clients throughout the country so I don't rely on any one economy. I am worried that Denver's economy will take a dive
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  August 13, 2008 at 19:02 DebInDenver says after the DNC, so want to make sure I am not just rooted here in Denver.
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  August 13, 2008 at 19:01 patricksweeney says putting my head between my legs and kissing my ass goodbye! Nah, just trying to get my head above water for now.
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  August 13, 2008 at 19:05 AnitaK stop eating and driving? I wish I had cash to put into stocks now...
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  August 13, 2008 at 19:07 DaisỵΜ∞n says go no where, wear old clothes, eat nothing Seems to be the only way to survive some days
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  August 13, 2008 at 19:12 athorp Daisy - if you eat nothing, you'll need new clothes!
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  August 13, 2008 at 19:12 athorp I stay home a whole lot more. I also planted a vegetable garden this summer.
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  August 13, 2008 at 19:15 DaisỵΜ∞n says athorp tie them on with string-belts
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  August 13, 2008 at 19:18 JaneChin you think stocks are a good way to go bc prices are low and for sure they'll go up?
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  August 13, 2008 at 19:17 JaneChin hm... my 401k keeps dropping and i stopped looking at the #'s. too depressing.
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  August 13, 2008 at 19:25 RenegadeScribe says I'm thinking of stealing gas and selling it on the black market.
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  August 13, 2008 at 19:43 JaneChin Lewis since i'm an entrepreneur the 410k is parked there (no employer contrib). i do have a SEP
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  August 13, 2008 at 20:25 SandyBBerry says we are cutting back on eating out.
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  August 13, 2008 at 20:26 Lloyd Lemons says simplify (even more) drive less, bike more, diet, fewer restaurants, no malls, maybe sell a car
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  August 13, 2008 at 20:28 RenegadeScribe says Seriously, we've tried to minimize driving, lessen the amount of times we eat out, make sure to buy gas at Costco, and put the thermostat
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  August 13, 2008 at 20:29 RenegadeScribe says up almost to 80
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  August 13, 2008 at 20:43 Glyphrunner says no A/C in the summer, heat set at minimum of thermostat in winter, recycle clothing and try to reuse materials where possible.
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  August 13, 2008 at 20:42 Glyphrunner says Also trying to find at least one if not three more jobs to provide more income. I can sleep when I'm dead.
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  August 13, 2008 at 20:44 JaneChin DebInDenver is your biz conductive to remote operations? I think PR should be.
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  August 13, 2008 at 20:51 DebInDenver says yes Jane, I could pretty much work anywhere, with some travel required. I try to meet as many journalists as possible to keep the
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  August 13, 2008 at 20:52 DebInDenver says relationship going. And now that I am doing more SM, want to meet as many people as possible at conferences, etc.
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  August 13, 2008 at 20:52 Suninthecity i have foregone seeing my family (an hour away), eating out, going far for groceries, and not going to my son's jiu jitsu class (30 min)
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  August 13, 2008 at 20:53 Suninthecity there have been other sacrifices, too. i see this might become a blog post
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  August 13, 2008 at 22:12 DSN die young
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  August 13, 2008 at 22:43 LChamp says I planned for many years to retire early. retired at 55. now is the time for me to preserve capital not gamble on the markets. no concern
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  August 14, 2008 at 04:18 JaneChin AaronMSB good going!
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  August 14, 2008 at 04:20 JaneChin LChamp your case is rare now; many are "unretiring" bc they can no longer afford retirement :|
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  August 14, 2008 at 13:38 Walter thinks far too many Americans spend their money on depreciable toys.
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  August 14, 2008 at 13:41 iheartbobbyb says Not going to lie, the future of the nation scares me to death. It's scary where everything is heading...
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  August 14, 2008 at 13:43 daringd says ............ sigh ... so wat can we do now?
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  August 14, 2008 at 13:44 LChamp says iheartbobbyb: the future is in your hands...don't just stand there, do something!
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  August 14, 2008 at 13:47 daringd says is it true that the worst is yet to come? :S
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  August 14, 2008 at 13:47 iheartbobbyb says LChamp: this is true. you're right, I
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  August 14, 2008 at 13:47 iheartbobbyb says *I've got to do something about it!
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  August 14, 2008 at 13:48 Nexeus says make. more, money
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  August 14, 2008 at 13:55 JaneChin Nexeus any suggestions on how to make more money?
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  August 14, 2008 at 14:31 Walter says in all of human history, there's only been a middle class for the last 60 years. And now it's shrinking. Yikes.
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  August 14, 2008 at 14:32 daringd says wat do u mean, Walter? it sounds scary
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  August 14, 2008 at 14:55 JaneChin i saw on news that many people who bought houses in 2006 may actually have "negative" equity right now
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  August 14, 2008 at 15:01 Walter says Jane, not just "many" -- it's more like 1/3! tinyurl.com/55y36z
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  August 14, 2008 at 15:04 JaneChin CA as usual tops 'em all - lose 80+% of equity - I remember a few yrs ago inland empire was being developed like crazy, many moved there
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  August 14, 2008 at 15:06 Walter says daringd: It's called the middle-class squeeze. And yes, it is scary. is.gd/1rBC
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  August 14, 2008 at 15:06 JaneChin hm... i'm checking willow; and one home in our neighborhood sold for $805K built in 1989. that's not bad I guess.
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  August 14, 2008 at 15:07 JaneChin Walter I agree that the middle class is being squeezed. How much of the "total squeeze" is due to policy, how much due to personal choice?
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  August 14, 2008 at 15:07 JaneChin i.e. buying cars you can't afford, home too big for your budget, new wardrobe every season, vacations and cruises etc on credit.
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  August 14, 2008 at 15:07 daringd says haiz...
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  August 14, 2008 at 15:12 LChamp says It's called personal responsibility. I am responsible for my actions. If I buy something I can't afford, I can't complain about it.
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  August 14, 2008 at 15:17 daringd says that i agree, LChamp
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  August 14, 2008 at 15:16 Walter says it is primarily due to personal choice, compounded by changes in global economic factors, allowing less room for errors in our choices.
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  August 14, 2008 at 15:18 Walter says it used to be easier to dig out of debt. But now with millions of off-shore workers willing to do our job at 1/3 the cost, it isn't so easy.
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  August 14, 2008 at 15:24 JaneChin Walter i think it's a catch 22 as well. consumers want cheaper price for premium products. then complain that jobs are being lost to worker
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  August 14, 2008 at 15:25 JaneChin s who CAN make cheaper prices possible. which gives?
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  August 14, 2008 at 15:25 daringd says ya .. agree with JaneChin. Catch 22. haiz...
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  August 14, 2008 at 15:28 JaneChin also, it depends on the type of biz. manufacturing gets hit the hardest, bc of fixed COGS and offshoring prevents increased prices
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  August 14, 2008 at 15:30 daringd says there's always opportunities in time of crisis, what do you think the opportunities that exists or will exist in near future?
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  August 14, 2008 at 15:29 Walter says We over-consumer. Consume less, and you don't need to demand lower prices.
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  August 14, 2008 at 15:30 Walter says I'm totaly cool with giving jobs to the those who can do it the least expensively. That's good for everyone.
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  August 14, 2008 at 15:30 Walter says (Except for the union guy who was getting paid $50k a year for sweeping a factory floor.)
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  August 14, 2008 at 15:35 JaneChin Walter i hear you. i understand that unions aim to protect workers, but with all organizations some power can be abused.
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  August 14, 2008 at 15:40 Walter says having visited approx 40 different manufacturing sites, both union and non, I can say unions have done significant harm to US manufacturing.
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  August 14, 2008 at 15:43 daringd says significant harm? why is it so?
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  August 14, 2008 at 15:42 LChamp says Walter, in my opinion, the unions have priced us out of the market...losing jobs, but protecting union managers
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  August 14, 2008 at 15:44 daringd says hmmm.... nvr see it that way. not many union thingie in Singapore
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  August 14, 2008 at 15:45 JaneChin daringd i'm pretty sure singapore companies wouldn't allow unions LOL
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  August 14, 2008 at 15:47 daringd says hahaha..... :p except for certain industry like the airline. they sure have hehe. :p
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  August 14, 2008 at 15:49 Nexeus says janechin I always believe that the service industry, particularly tech services and freelance help
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  August 14, 2008 at 15:49 Nexeus says janechin so, web design, programming, technical help, installation, etc. that really helps a lot
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  August 14, 2008 at 15:49 Nexeus says janechin maybe even consultation. Those, IMO are relatively recession proof - there's always going to be biz there.
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  August 14, 2008 at 15:50 JaneChin i'm not sure daringd... singapore airlines can get away with not hiring a woman bc she's too old or not pretty enough. not here in the US
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  August 14, 2008 at 15:51 daringd says oh!!! tat's true. hmm .... Singapore is a v biz oriented country. As long as it makes profit , that matters in the end.
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  August 14, 2008 at 16:19 JaneChin Nexeus makes sense; I was recently a consultant
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  August 14, 2008 at 17:27 ForgeAus says Walter wasn't quite right, they also spend them on disposable goods not just depreciable toys lol!
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  August 14, 2008 at 17:33 Walter ForgeAus Right! They'd better enjoy their Starbucks now, because they'll be drinking McCafe in retirement.