A job feels safe. But so much can go wrong with it.
And unfortunately, we don’t plan for things going wrong until it happens.
Getting laid off in my twenties was one of the best things to happen to me.
Why?
It made me prioritize having a backup income.
Kaelie wrote a post on LinkedIn about getting laid off from her job.
But unlike me, it’s not just her that she has to worry about.
She got laid off while she was on maternity leave…
So she has a new baby to take care of.
Her partner also doesn’t work, so she is the sole provider for the family.
I cannot imagine just how stressed she is at the moment.
New baby and an unplanned job loss is just awful.
But am I surprised that her company leadership decided to lay off someone on maternity leave?
Sadly nope…
And this highlights why it’s so important to prioritize your backup income plan for your 9-5.
You can do this by making small but highly impactful changes:
- Live below your means.
- Save multiple months worth of living expenses.
- Prioritize investing so your money grows while you sleep.
- Buy assets that provide cash flow so you have money available in the event a sudden layoff like that happens to you.
Not everyone needs to quit their job and own a business. But everyone needs an income outside of their 9-5.
Having another source of income isn’t a fun hobby.
It’s a necessity if you don’t want to be subject to the whims of people in a boardroom who just see you as a number.
Choose to be in control.
Don’t wait to become the subject of the next LinkedIn layoff story.
Read Kaelie’s post here.
Support her if you or someone you know can assist with her job search.
And let me know what your plan B, C, and D are for income outside of your 9-5.
