4 ms·

The Dotcom bubble was much before I graduated, so it didn't impact me directly. Years later, around 2015, I was serving meals at a homeless shelter and I met a

by nelblu 2y ago

The Dotcom bubble was much before I graduated, so it didn't impact me directly. Years later, around 2015, I was serving meals at a homeless shelter and I met a guy (client at the shelter) who asked me what I do for a living, and after he realized I have some background in technology he started telling me about his past. He told me that he made 6 figures before the dot-come bubble burst, and then he got laid off during the burst. He was a network engineer and told me even though he was making a ton of money, he still made several bad financial decisions and spent all his money when he had it. For me it was a lesson in financial planning. Suddenly all the theoretical concepts that I learnt a few years earlier in b-school (risks, diversification, investments etc.) became suddenly clearer to me. Ever since that day, I just assume that things can go wrong any time and I must be prepared for the worst. And years later to this day, as I get more philosophical about life, I also wonder - why do we have so many wants - and I actively try to get rid of unnecessary clutter in my life.

poulsbohemian 2y ago
The thing is, even if you are making good money, most of us are one sick family member, one divorce, one strange set of circumstances, one recession away from being on the streets. You can do everything right and still end up screwed.
- cogman10 2y ago
  Which is exactly why programs like SSI and Medicaid are so important. There are simply things outside your control (yes you) and they can financially ruin you. A bad interaction with the law, cancer, a recession. The line between stability and homelessness is narrow and not entirely due to bad life choices. I have a child with severe autism. They'll never be able to be a "productive member of society" and one of my biggest fears is what happens when I'm gone. I have to save up enough money not just for my own retirement and care but also theirs. That's a narrow tightrope to walk. Especially because I know that statistically my child is one of the more likely people to end up homeless. I have a financial bus factor of basically 1 which will destroy not only my life but also my child's life.

by nelblu 2y ago

poulsbohemian 2y ago

The thing is, even if you are making good money, most of us are one sick family member, one divorce, one strange set of circumstances, one recession away from being on the streets. You can do everything right and still end up screwed.

cogman10 2y ago
Which is exactly why programs like SSI and Medicaid are so important. There are simply things outside your control (yes you) and they can financially ruin you. A bad interaction with the law, cancer, a recession. The line between stability and homelessness is narrow and not entirely due to bad life choices. I have a child with severe autism. They'll never be able to be a "productive member of society" and one of my biggest fears is what happens when I'm gone. I have to save up enough money not just for my own retirement and care but also theirs. That's a narrow tightrope to walk. Especially because I know that statistically my child is one of the more likely people to end up homeless. I have a financial bus factor of basically 1 which will destroy not only my life but also my child's life.