Losing your job, can you survive 6 months?

Seriously, today there are many negative news online. Every now and then, someone would be predicting that Malaysia will go bankrupt soon due to one institution. In fact many have said that the household debt versus GDP is so high that it is unsustainable. Many would tell you that the property prices are seriously way too high and that every Gen-Y today may never own a property.  With GST’s implementation, so many people remarked that Malaysia is on a path of no return. Costs have increased so much that many businesses could no longer sustain itself and would be shutting down. And More.

No comments on even a single item above. My question would be, IF the above happen, I am pretty sure some of us may be out of job. Come on, during any crisis at all, surely some companies would shut down or some MNCs move elsewhere etc. So, are we ready with sufficient savings to last us at least 6 months, while we look for another job, most probably paying lower pay. To those who still bought a new iPhone or Samsung even though the price is more than half of their monthly pay, ties would be hard soon. Your phone is not likely to have appreciated in price when crisis really do come.

To those who had just overstretched to buy a Japanese branded car to ‘tell’ everyone of their peers that I am ‘better’ than you, I think tough times are coming. Second-hand car prices are going down these days because even the prices of new cars have dropped. It meant when you sell your car, even if it is a Toyota, you are going to lose lots of money. Of course as they say, selling a Proton is even worst. (Opps, talking about me.) Do not worry, if crisis does not happen, you can continue telling all your friends who are driving a Proton that you are better off since you drive a Japanese car. 🙂

Personally, I am still using my mid-range OPPO smartphone which I bought over 14 months ago. I am still driving a Proton which the power window and everything else has not yet failed. I have bought undervalued stocks based on my own calculations. Hopefully I am right. I continue to save more because I now have 2 kids. Yes, I work very hard in my full-time job so that if they were to think of who to fire during bad times, they may retain me. Finally, I do have sufficient FD to last my family and myself for 6 months. Yes, I am prepared whether or not a crisis is coming.

To those who reads only the negative news everyday, I hope you are also ready. Think objectively, act quickly if you believe so seriously.

written on 13 May 2015

Next suggested article: Doing nothing is NOT a strategy

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