So, what is your Plan B?

C

Cubic Zirconia_IHB

New member
So many couples I know are losing their jobs, or are on the verge of losing due to downsizing, companies shutting down. Everyone has their own ways of dealing with the crisis. Just curious how people are IHB are tackling/ planning to tackle such a situation in their lives.



I chose Option B, because I am seriously thinking of converting my consultant status to a permanent consultant status.

Oh, too late, it doesn't let me edit the poll, but wanted to remove the word "together" in Option B.
 
i dont think the answers are mutually exclusive. i'd prob do all four to some extent. take a long but not necessarily luxury vacation, like a road trip across america. i'd think about #2, the latter part of #1, #3 for sure, and start putting out feelers for #4.
 
My plan would be to buy a house now that prices have bottomed and live off the HELOC money as rapid appreciation returns to the market. I should easily be able to support my family on home price appreciation alone.



Oh, I'm sorry; that was the plan in 2004.
 
Our plan would be to start looking for new jobs a.s.a.p. but we could get by for about three years on our current savings so we wouldn't be in a panic just yet. We would go into survival mode and really watch the expenditures extra-closely until new employment was secured.
 
sell everything, move to Thailand for a year or two where cost of living is like 10% of Irvine; help our church there with a few ministries, go to the beach, eat really good cheap food, and hire two or three maids to cook, clean and nanny for the kid...
 
[quote author="roundcorners" date=1246321619]sell everything, move to Thailand for a year or two where cost of living is like 10% of Irvine; help our church there with a few ministries, go to the beach, eat really good cheap food, and hire two or three maids to cook, clean and nanny for the kid...</blockquote>


Just avoid ropes in closet.
 
It's so different when there are two of you. We'd love to opt for a plan b that said we chuck it all and go live in another country for a while with the minimal resources we have to do so. His job is far securer than mine is right now and with our long term goals plan b is for me to do something else should something happen. My company never followed through on their promise to make me an employee, so UE is not an option for me. This means that if I do have to resort to a plan B, then I may end up doing something that isn't exactly a step up.





I've been really bummed about the idea that I may end up in a position where I have no choice but to make a move that isn't better than where I am now, but you have to do what you have to do. But yeah, we have had a lot of conversation around not only plan b, but also plan c. Regardless of what happens, we have a tremendous amount to be grateful for and I never lose sight of that.
 
Yes, two incomes certainly makes riding it out easier.



We went to plan B in Nov, then on to plan D in Jan. Thankfully it looks like UE is now a year and a half and fairly generous here in CA, and the lost salary was the smaller of the two.



Will the Feds extend UE again this winter? Two or three years of extended benefits when U3 reaches 15% nationally?
 
I've got a few friends that have been laid off and some that were recently laid off. We've built up a fair sized emergency fund to hold us over for some time if anything happened. If something did happen, we'd tighten our belts much more.
 
Thank you everyone, for taking the poll. Sometimes it just helps to know that everyone worries;-)

We have a 3 yr cushion as well, but still, hurts to think of all the saved money actually being spent on basics. But hey! better than sending Anthony Sullivan my gold in an envelope!
 
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