What should I do: stay the course or liquidate assets now?

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  • #115373 Reply
    USER

      I was laid off 6 months ago and I am having an extremely difficult time finding a new job. It seens “job, jobs, jobs” has been replaced with “layoffs, layoffs, layoffs” under the current administration.

      Despite the economy being terrible there is very little about it in the news, other than the FED lowering rates to stimulate the economy.

      I suspect the main stream media is waiting until the new administration takes office before reporting on the dire state of the economy.

      I only have a few more months of emergency funds left, do I:
      1) Stay the course and hope the new administration can fix things quickly, or

      2) Liquidate my assets now, before I’m potentially forced to do so at much lower prices?

      #115374 Reply
      Kristin

        Yep, the media is the propaganda arm of the left. Hence we had a guy in office that was non compos mentos as POTUS for four years.

        I’m sorry for your challenges. Best wishes for 2025.

        #115375 Reply
        Andrea

          I was laid off mid April and it’s also been a struggle to find employment in the same industry making the same compensation.

          I’ve taken temp jobs and drove Uber to reserve my emergency cash but now have to liquidate some of my investments from a brokerage account.

          I’m hoping that the new year brings new opportunities as the budgets often reset for many companies.

          However, I also suspect the unemployment rates are flawed as several in this post encourages you to take something until you find something and that’s not exactly feasible either when you come across over qualified.

          Or at least that’s my experience.

          #115376 Reply
          Karl

            new administration is talking about initiating massive federal job layoffs. I think the outlook really depends on the sector you are seeking work.

            Current unemployment rate is 4.2 which is considered relatively low in the aggregate.

            #115377 Reply
            Lana

              The best thing you can do to ensure your own success is stop blaming external forces and apply your energy to what is in your direct control: your resume, skills, flexibility and adaptability.

              6 months off work is a lot of time on your hands. You must have updated your skill set, haven’t you?

              #115378 Reply
              Ashley

                The economy is crap? Market is all time highs, unemployment at lows… I’m confused but I’m pretty sure I’ve seen most people report that their portfolios are going gang busters.

                Mine included.

                I feel bad for my govt friends (I was NOAA for 8 years).

                Things are about to get rough, but in the grand scheme of things, we’re not rough yet

                #115379 Reply
                Erica

                  Biden has added jobs to the economy every single month of his presidency – something no other President has done.

                  This sounds like a you problem.

                  #115380 Reply
                  Amber

                    I don’t think it’s much to do with the current administration – moreso corporate greed and a changing competitive landscape.

                    I was laid off during Trump’s last administration and more recently too.

                    It also depends what industry you are in – tech was hit HARD this time around.

                    Have you looked at something paying a bit less in your area of expertise? I had a drop down a couple of levels to find something.

                    #115381 Reply
                    Mark

                      I’m confused as to both if ur choices. U pose this as absolutes. 1 or 2 is going to happen.

                      Whats ur plan if neither happens.

                      #115382 Reply
                      Amanda

                        We relocated to Florida in 2019 for family and struggled to find work. I was a substitute teacher and DoorDashed until becoming a full time teacher in 2021.

                        I left teaching in 2022 because the pay for teachers in Florida is well below average and costs in this state had skyrocketed after Covid.

                        I applied to a company, was hired, and have been working remotely for the company ever since and had two promotions.

                        My salary is not where I want it to be, but it’s definitely doable and getting better.

                        My son graduated from college this past spring with a Bio degree and has yet to be able to find a job (in any state), but is working in the service industry as a cook and has been able to pay off some debts and save while he continues to look (he currently lives at home).

                        I did well under this administration, as did my husband who works in public education.

                        We are concerned what the landscape of public education will look like in the coming years, but can relocate if we have to.

                        The economy ebbs and flows and your ability to adapt and prioritize cost is what gets you through.

                        Hang in there and best of luck.

                        #115383 Reply
                        David

                          Never rely on an administration to solve your problems. That’s your first mistake.

                          Take responsibility and keep at it.

                          #115384 Reply
                          Jack

                            You have to love someone complaining how bad the economy is because they lost THEIR job!

                            Meanwhile, jobs are increasing every month, unemployment remains relatively low, GDP growth is still strong, Americans are shopping and traveling in RECORD numbers, our markets are still way up, and thousands of boomers can now afford to retire and are retiring everyday thanks to our great current economy!

                            If they think things are bad now, the OP needs to hold onto their proverbial hat when we get our next (inevitable, let’s face it) repub recession.

                            #115385 Reply
                            Ricky

                              Current administration? Dire economy? That’s pretty silly given Biden’s historic job record and record breaking economy turnaround after the pandemic.

                              Seems more like hesitation due to incoming new administration or a you problem given the fact that you can’t tell fact from fiction.

                              Good luck with the “new administration!” Once the immigrants start getting deported you might be able to get one of their sought after American jobs!

                              Things are going to be great in a jiffy!! Unprecedented! $1 gas and $0.05 eggs!!

                              The circus might arrive in January, but the clowns are already in town!!

                              #115386 Reply
                              Jennifer

                                Hold onto your red hat. Things are about to get so much worse.
                                Turn your reflection inward.

                                You may need to realize you have a weak skill set that is not desired or necessary, perhaps outdated, or perhaps your work ethic or work product or reputation is doing you no favors.

                                #115387 Reply
                                Chelsea

                                  You would have gotten much more helpful answers re:jobs if politics weren’t mentioned.

                                  Do I think it’s going to get better under Trump? No.

                                  The man is king of debt, has said we will never run out of money bc you just keep printing it, and many companies started layoffs after he was elected in anticipation of his tariffs (and many companies also suspended holiday bonuses and raises for this reason).

                                  Maybe they will bring more people on board if his proposed tariffs don’t get through.

                                  And his best friend Elon said expect thing to get worse before they get better (Aka they can wreak havoc for 4 years and then someone else can try to fix their mess and be blamed for it).

                                  MAYBE it will be better for those in oil, but I don’t suspect much more?

                                  I don’t see any reason anyone will suddenly have a lot of job prospects at the entrance of a new admin. Continue your job search aggressively.

                                  Right now isn’t the best time of the year to be hired, unfortunately.

                                  Depending on what you have saved, I’d personally try to hold off on liquidating assets for as long as I could, and only do it as absolutely needed (selling a little at a time).

                                  Take on some freelance things that will be flexible and might be able to cover your expenses.

                                  It’s hard to replenish savings once they’re liquidated. I’m sorry you’re dealing with a rough job search, but it isn’t Biden’s fault.

                                  #115388 Reply
                                  Nicole

                                    This economy is the strongest it’s been in decades, that’s why you’re not hearing the news. The new administration is not going to fix anything. Good luck.

                                    I do hope you find something soon.

                                    #115389 Reply
                                    Glen

                                      The economy is not terrible. The economy is roaring like never before. Unemployment is extremely low. Inflation is reigned in. I am sorry for your circumstances but blaming “the terrible economy” is a copout.

                                      Pull yourself up by your bootstraps and go out and achieve great things.

                                      Turn your locus of control inward and you will see that you are capable of anything…or let “the economy” dictate your future and be at its mercy and a slave to it for the rest of your life.

                                      It’s up to you.

                                      #115390 Reply
                                      Rebecca

                                        You can’t find a job or you can’t find the job you want? The new administration will fix nothing.

                                        Take whatever job you can find while you wait for the job you want.

                                        #115391 Reply
                                        Erik

                                          The new administration ain’t fixing anything. Hate to break it to you. If anything, he’s going to make things worse lol.

                                          #115392 Reply
                                          Christopher

                                            Don’t rely on any government, or administration to help you. Rely on yourself. It’s a hard pill to swallow.

                                            Look in the mirror and tell yourself to learn something new everyday and apply yourself.

                                            You will find work.

                                            #115393 Reply
                                            Rose

                                              Companies are now using bots to select the right candidates. When you see a job ad that interests you, your resume has to have the key words on the job ad for you to be selected. Otherwise, you will keep wondering why you’re not even getting interviews.

                                              Therefore, this means you will have several versions of your resume to fit each job application.

                                              It’s tiring I know, but that’s the way things are nowadays. All the best and I hope that you find something real soon.

                                              #115394 Reply
                                              Scotty

                                                You’re really limiting yourself to those 2 options? Opportunity favors the bold.

                                                You can learn a new skill, invest in education, take a risk… or keep banking on suits to fix things for you.

                                                Also before you think of an excuse- I, and many others have found great opportunity while living in the 2nd poorest state in the country, while being 1st highest in obesity, and 1st highest in drug overdose per capita in the entire country.

                                                I don’t know your situation, but I think maybe spend some of your free time fixing your mind..

                                                I wish you good fortunate, my friend.

                                                #115395 Reply
                                                John

                                                  The new administration has ZERO plans that will actually help your situation. FED has been pushing rates up!

                                                  To kill off the economy! And you’re blaming Biden? As the economy still shows growth?

                                                  Do you lack marketable skills? Unwilling to leave a bad location?

                                                  Why is it you can’t find a job when others do readily?

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