According to a recent jobs outlook report, the job market will make a come back in 2016 if things continue along a sluggish path. Just in time for the 2016 Olympic games I say. Let’s analyze the significance of 2016 as a year:
- 2016 is a leap year: Next year is a leap year as well, but I’m pretty sure the economy won’t have bounced back quite yet.
- 2016 is a summer Olympic year: Rio is the place to be if you want to catch water polo or gymnastics.
- Almost half the US will be over 50: Thanks to the boomers. I’ll be a few years shy, but definitely on my way!
Hopefully job prospects will open up sooner than 5 years from now, but at least there’s an end date in sight. As for what to do in the meantime, I have some ideas:
- Live frugally. Continue to live frugally even if you have a great paying job and receive a raise. I wish I had learned this lesson earlier in life. I’m now back-pedaling to catch up.
- Think outside the box. I knew right out of college that I didn’t want to work in a corporate setting. That just wasn’t me. It took a while to figure out what I wanted to do – run side businesses while doing something I love; teaching.
- Diversify. This is similar to number 2, but if you work in a corporate setting or have a career that’s along these lines, learn a new skill to keep yourself nimble. Diversify your assets as well; don’t bank on just one retirement plan for the future. Make sure you have a few options.
- Accept change. Sometimes change is needed to match the current climate. That change might mean a lifestyle change, moving to a less expensive area, working longer, or retiring in another country. I’ve always been open to the idea of change, but actually doing it is more difficult. Note to self: Be bold, make a move!
What do you think, will jobs rebound sooner? Are you out of a job and having to rethink your future?