I’ve now collected about $10k of unemployment benefits. It’s been great to receive “free” money although it’s not really free, on any given year, I’ve paid at least $100k in federal income taxes over the past couple of decades so it’s good to get some of that money back. Ironically, I’ll need to pay taxes on this “free” money at some point.
Job Search Update
I’ve sent out 68 resumes/applications mostly to companies online advertising for open positions. I’ve received about 6 interviews so far. A couple of firms seemed really interested in hiring me then proceeded to ghost me for some bizarre reason. I never heard back from these firms so not sure what happened but I suspect the deteriorating economy canceled their hiring plans or perhaps they found someone better than me.
Retirement Update
I haven’t been overly concerned about finding a job because I have a lot of money, enough, I think, to retire and live happily ever after overseas however I am re-considering retiring next year and instead retire the year after.
Why?
I am getting calls from people I knew from decades ago asking if I’m hiring. I am getting calls from people I know recently asking if I’m hiring. Basically, a whole bunch of people I know/knew from “work” are calling me up asking me for a job. It is extremely concerning that so many people are looking for work. My daughter graduated university and has only found part-time work so far. My other kid is doing fine but I still worry.
In the news, many companies are announcing massive layoffs. Amazon just announced 30,000 layoffs recently. Target also announced layoffs and both are retailers laying off right before the holiday season!
So if I am offered a job, I will likely take it for at least a year and bank an additional emergency fund but not for me or my wife, but for our kids. My goal will be to bank $100,000 and create two $50k emergency funds for the kids.
While my wife and I have plenty of money to retire, we only have funds for us to live comfortably, which means our kids can’t tag along and expect us to support them indefinitely.
The holiday season is coming up so I think if I don’t find a job by the end of October, it will likely have to wait till January or February of next year.