anonymous poll - How will the apocalypse impact your personal finance?

[Horton]

anonymous poll - How will the apocalypse impact your personal finance?

[brody]

Actually as a first responder, my income will go up because of overtime due to other illness. Although I need to add, that as long as I can stay healthy

[skier2788]

It was a perfect storm for me. Russia and Saudi both increasing oil production coupled with corona lowering demand on crude. Since the majority of my business was oilfield related I am pretty screwed. Back to mechanic along side the highways to make ends meet for awhile.

[Bulldog]

I am a firefighter and my wife is a nurse, our income will only increase with Covid 19. I feel terrible for the small business owners and anyone who has lost their job.

[thager]

Broke before. Broke after!

[david_quail]

none of the above. Our income will only increase with my wife being an ICU physician. I'd feel more guilty about that if she weren't having to go through what she is ... :(

 

 

[Orlando76]

Luckily I had my arse handed to me in the 2008 giant recession. That was a bad experience at a bad age at a bad time. I learned from it and came back more diversified work wise. Thanks to the 08-12 downturn i succeeded in not having anything financed. So for the next 3-4 months(?) me, the wife, and our young boys will be at our fish camp on the coast.

[MattP]

Currently unsure. I work in marketing for a small business and our revenue is directly tied to retail sales of our clients product. Everything at this time is ok, but we will see.. The end of Q3 will be very telling. Have been reassured from the owners that everything is stable for now. We need stores to open and our mfgs. to stay in business until that happens.

[LoopSki]

My travel budget was cut. So that won't affect me much as I cant travel. My other investments are going strong but will likely see a slowdown after the current job log gets caught up and new jobs dont come in

I'm bummed as I had plans for some waterskiing related spending this year. That will have to wait now.

[skispray]

@Horton ask again in 3-6 months.

[waterskicorey]

I’m a firefighter so I’m still working, But my wife has her own Pilates studio and she is out of work so that will affect things

[Ed_Johnson]

My Airline Retirement is OK right now, as long as bankruptcies don't start occurring.

All my Waterski related expenses come out of my weekly Music Gigs which have gone to ZERO. Luckily my 200 is paid off and I got a new C-75 with Reflex 5.0 before all this crap started, so I am good for the season.

 

Also blessed to have several rolls of Toilet Paper on hand !!!

 

 

[sodbuster88]

My company is starting to burn through a mountain of cash to preserve employment for everyone. However, everyone’s merit increases have been killed and all 2020 bonuses paid in 2021 are killed. So income is def affected. If this thing has a longer tail, layoffs will be next. The good news is that we learned from the 2008 mess and set up a financial model to weather another one. Here we are....so let’s see how things go.

[6balls]

We have enough put away, but hate to convert investment to cash in a down market. My guess is that although my personal health risk level goes up, my pay will be less than half with no one wanting or encouraged to come into the clinic right now, and no elective procedures. We have cut spending hard, are pleased I didn't order that new mid-engine Corvette. Only mortgage debt, wish I would have went against my advisors advice and paid it off while the market was high--would be nice to have that cash flow right now.

Cutting expenses in many ways...still consider ourselves lucky so many around us lost jobs, single parents trying to pay the rent, boutique restaurants struggling on take-out only etc.

So far in MN the hospitals have lost a combined $4B--this is armageddon to the healthcare system.

[Skoot1123]

I feel pretty fortunate - my wife and I still have our jobs. Yes, merit and bonuses were canceled for this year, which was hard to take given the timing, but we are healthy (now) and enjoying working from home and being with the kids.

 

My heart really goes out to those that have lost their jobs and are unable to work either because of illness or because of their business/employer being labeled non-essential. To the employees and business owners - they ARE essential.

 

This is the point where my faith brings me and my family through.

 

Keep your stick on the ice!

[ScottScott]

For the immediate future I'm ok, I can pay my bills for a couple months. The downstream effects are TBD. The longer it lasts and the more jobs lost, and businesses that go out of business, the longer the economic recovery as a whole will be. My business is primarily a luxury area, so it will be the last thing people start spending money on again.

[swc5150]

We're doing fine for now, but if the lockdown continues much longer, I don't see how pretty much everyone will fall into the "looks like we're screwed" territory. If I voice my true thoughts, I will sound political, and will therefore refrain.

[PatM]

I am a last responder (funeral director). While we haven't yet experienced a great deal of extra work from this - we have to continue with doing what we do as best as we can at this time which is difficult. So my source of income should not be affected as far as I can tell. Just hoping that we don't experience what some of my colleagues are in places like New York.

[Ski2000]

Our work load is strong, we just don't incure unnecessary expenses right now. My wife is a hair stylist, so she is out of work. We are well positioned with no debt and preaty decent rainy day fund.

Once my wife can work she's going to be crazy busy too.

[LanceHCook]

I'm a real estate appraiser. With the low mortgage rates, we've got more work than we can handle at the moment with all the refinancing happening. We're considered essential and therefore are working. Here in Fairbanks, AK we are highly dependent on military moves in our market which have been suspended, add to that the pissing match between the Russians and Saudi's on oil production and pricing, our state budget is going to be dismal at best. Always interesting.

[6balls]

@LanceHCook your industry seeing any new home purchases to speak of or all pretty much refi into the lower rates?

[LanceHCook]

@6balls Both. Up until about 3 weeks ago our market was really taking off on purchases. We're generally a very seasonal market, but it never really slowed a lot this past winter. The nearby Air Force base is getting 2 squadrons of F-35's this year and the demand for housing is huge. There's not enough new construction as costs are high and VA buyer's can only afford so much, so there is less new construction happening than we really need.

[Golfguy]

I came into this life with nothing and I still have half of it.

[ral]

I work for Honeywell (now famous because of “N95”), and next 6-12 months are either question marks or clearly down market situations for most industries we serve.

 

In my view, the vast majority of the world will have medium to strong financial impacts. We will always find exceptions and winners. Slamming the brakes and slowing down severely the whole world for many weeks means a sh@&load of wealth not being created.