Another coworker laid-off. I'm pretty demoralized, wondering how its possible to ever attain enough stability to plan long-term

Our answer to this is to save, save, and save more. See /r/financialindpendence.

My husband's previous job moved offices, so we moved with it. (To split the commute, since I'm interested in my own career.) We bought a house in the new neighborhood, everybody knew it. He had worked an 80 hour work week and came home early Friday because there was literally nothing else he could do, and he was crashing. Also, many other people at the office do this regularly.

They needed a fall guy for their own failure to bid the project correctly. So they fired him for not being supportive of his team.

He applied for unemployment insurance, but didn't get it. His ex-boss and other ex-coworkers were sole incomes for their families (with kids), and they testified against my husband. They lied to the judge. (You can be suspicious of my husband, but this is the only employer he's had who's been unhappy with him.)

It took him 4 months to find another job.

So, what does he do? Well, he's super frugal. But it also helps that we are a two-income family who budget to live off only one income. Even if I lose my (higher paying) job, we can shuffle things around to live on his income alone.

Part of this is because I already had a house when we met. So now we have two houses and a decent rental income. (Can't pay many bills, but covers our housing.) And why do I have this? Well, I'm a 20-something working in tech, negotiating my equity grants.

We plan to have children in the near future.

tl;dr: Create multiple sources of income for redundancy. This means passive income, investment income, rental income, or a dual-income family that lives off only one income.

/r/personalfinance Thread