On Monday, March 4, I received some unpleasant news: my employer laid off 200 people from my organization, including myself. It came with no warning. As we sat in disbelief, HR gave us our packets and sent us on our way.
By luck, grace, or fate, I had just been offered a new role within the same company. I was afraid that, with the budget concerns that often occur during the fiscal Q3 quarter, my offer would be rescinded. It took another week before I got the formal offer from HR. Crisis averted!
This got me thinking, though, about one of the main benefits of financial independence. I’m not FI yet, though I do have a hefty enough savings to weather a lay off for several months. I thought of my friends and colleagues, many of whom didn’t have significant safety net. I thought about what I would do if I didn’t have a safety net. A huge benefit of financial freedom is the security it provides in times like this. Thankfully, I didn’t have to test my safety net this time around. I’m not going to sit back and wait for another opportunity. I’m doubling down in my efforts. This month I increased my 401K contribution amount and I have almost enough saved for a down payment on rental property #3. I’m tracking my spending daily and I’m on track for my September 2023 FIRE goal.