The worst /best is yet to come.........Read the latest article here
We can expect more layoffs in the coming month from other non-tech sectors like retail, healthcare, manufacturing, services, etc. This data will be shown in the upcoming job employment data.
The FEDs as usual will not proactively resolve the problem but choose to procrastinate and being bureaucratic will spend time in meetings after meetings until the problem has snowballed to a certain size.
Thus, I won't be surprised if it breaks the support level at 114.19. When the US economy craters as it will this year (recession, unemployment shooting up) then the FEDs will wake up to halt the rates increase and begin the next round of QE once more. Yes, they will realise their QT has not solved the problem of inflation but merely kicked the can down the road.
So, this is a good time to do your research on the darling companies you always wanted to buy but is too expensive. There is no fear of missing out as it is too premature to call the US markets having bottomed out.
What you can do for yourself ?
Make sure you keep your primary job. This is not the time to play politics but rather be on the ball , haha. You never know when the axe is coming........
Update your resume and network and spread your name in your industry. A good word of mouth open doors !
Cut down on your spending. This can be hard for many people as it is a matter of habits. Do you really need that extra tie when you already have 10 in your wardrobe ? Or can you cut down on buying the premium beef in the supermarket ? Every cents count......
Exercise - Keep to a schedule of exercising at least 3-4 times a week. Be it running, walking, swimming, yoga, working out in gym, etc. It is better to have 30 minutes workout in one session than to have 2 hours stressful workout once a week.
This will keep you physically and mentally strong - remember healthcare costs will only goes up over time, never come down. So is your age and thus you need to watch your health.
Other sources of passive income - Investment by far is the most straight forward, imo but it requires capital. And time as well , the earlier the better. Upgrade your skills in areas of your interest and perhaps monetise it over time. Try out as many and failed just as many , all it takes is one good idea.
Most importantly, stay positive ! Avoid negative people who drained your energy and brings you down with your idea. Have faith, give it some action and work from there .....
