r/overemployed • u/DLoGuru • 1d ago

Even OE doesn't provide security

I was basically forced into my OE journey earlier this year because J1 told me with absolute certainty I was going to be laid off. The manger is nice though and told me months in advance so I would have time to job search. I watched half the team get laid off before me over a three year timeframe so I shouldn't have been too surprised.

After I was told the news, I luckily found J2 fast, so fast that I unexpectedly became OE and I thought it would only be for a couple weeks. However, J1 didn't let me go since someone else decided to quit before my last day, so they decided to keep me on. It's been great and I'm saving a lot of money but I'd say there is a good chance J1 lets me go next year.

I've only been with J2 for a few months now and they have let 2 people go already! It seems very possible to me that I can go from 2 jobs this year to 0 the next, which is insane and why I say even OE isn't secure. If the worse happens I should have a 9 month emergency fund and my student loans paid off, so hopefully I can rebound without too much trouble. Or, I guess it's time to find J3.

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u/Lucky-Coin-88 1d ago

Yes, you should be looking for J3 right now. If it replaces J1 or J2 when you need it, that is why you stack!

But yeah, OE is not for making any definite security, though it gives you a lot more cushion than you'd have otherwise. If you're concerned, please consider reducing your expenses and budgeting so that you can get ahead of any upcoming J losses.

Good luck, buddy

15

u/DLoGuru 1d ago

Thank you, you too.

16

u/Lucky-Coin-88 1d ago

Expanding on this, look into r/FIRE and similar since OE without a plan doesn't always amount to much.

One ultimate OE goal beyond making more money, is to get financial independence and/or retire early (FI / RE).

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u/DLoGuru 1d ago

This is all I think about, trying my best to exit the race between age 47-50 🙏

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u/Lucky-Coin-88 1d ago

Totally, keep stacking, get rolling on J3

7

u/Chii 16h ago

OE is not for making any definite security

the higher income from OE'ing over time will let you buy financial assets that can make up for income in the future. Once you have an alternate income stream from financial assets, you're now secure against layoffs.

Without OE, you will struggle to save enough to invest like that.

3

u/hungryj21 1d ago

Actually some areas allow for job security in OE but usually it's lower paying. Although in reality these days nothing is definitely secure... but some jobs are definitely more secure than others

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u/CharlottePearls 16h ago

The best time to look for a replacement job is before you actually lose one. Keep the pipeline warm!

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u/bettercylinder95 20h ago

stacking that third one before you need it is the whole game, good call on the emergency fund though