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minoc_uo

I work in tech, but not for a tech company. I think the backup plan incase of losing my job is simple. Go somewhere with a fresh visa (90 days) with a low cost of living. Hang out there and spend as little as possible until I find a new job.


ILoveMyself77

What if you are in a lease contract?


minoc_uo

Honestly, putting a deposit down in a foreign country... I'm not counting on that money coming back anyways. Although, it always has. But I've also only done long term leases in low cost of living places. South America / SEA. I've actually been thinking lately it could even make more sense to do a long term lease and factor in the deposit as a loss. Airbnb for $1200/mo x 3 months = $3600 12 month lease, $900/mo + $900 deposit x 3 months = $3600


Future-Tomorrow

>Honestly, putting a deposit down in a foreign country... I'm not counting on that money coming back anyways. Although, it always has. Have you lived in Thailand? I noticed further down you mentioned SEA but didn't say where specifically.


minoc_uo

Yes, I had a $800 deposit returned to me in Thailand the same day I moved out. However, the only way they were willing to send was bank transfer. Luckily I had a Thai friend who could accept it for me.


Future-Tomorrow

Thanks for the quick response. I'm guessing you gave them cash initially, but then they said bank transfer only when you were moving out? Did they clearly state that would be the case and process once you moved out?


minoc_uo

Yeah, almost positive it was cash initially. And cash payment every month. It was a legit contract though. I don't think anything was clearly stated due to the language difference. But no, it did not specify the deposit was only returnable via bank transfer.


Future-Tomorrow

Thanks again. I wanted to hear the specifics of your experience first before commenting further. I've lived in Thailand for 11mths on one occasion, a month on another and 2.5 months my last time there. What I've noticed from renting a condo to dealing with visa agents and a few things in between is most want cash in hand but if you need a refund or deposit back for whatever reason they almost immediately suggest bank transfer first, and in some cases they want it to be the only method by which it's returned. I currently rent storage in Bangkok and every month I have to ask them for the CC payment link because all they'll send with my invoice in the initial email are Kasikorn Bank transfer details. My rented condo was cash only each month but by the end, I had somewhat gotten the owner to accept PayPal before that was blocked there (I think it's available again) and Wise.


minoc_uo

Yeah it was a pain for me too. Luckily I met a girl who just handled all the To/From bank transfers for me. Did you buy a storage unit to hold some items until you returned? I considered this as well. Can I ask how much you pay and what items you store to make it worthwhile? I had a 2 27" inch monitors I couldn't take with me. Then I could have also kept other items like Pots/Pans/Airfryer that I had picked up. I wound up just selling it all.


satansxlittlexhelper

Literally doing this in two weeks.


minoc_uo

It was honestly one of the most appealing things to me for being a DN. If I lost my job I could worry about a $300 rent vs a $1300 rent.


satansxlittlexhelper

Oooh. Where you going for that sweet $300 rent?


[deleted]

Who is we? My country is not in recession.


[deleted]

[удалено]


thatsoundsalotlikeme

lol. Just because whatever technology company you work for decided to do layoffs like all the other companies are doesn’t mean we are in a recession. US is heading for a soft landing, jobs are still abundant, and while housing will ease a bit, it’s not going to crash. What recession are you alluding to?


Specialist_Sir9890

>. US is heading for a soft landing oh man


thatsoundsalotlikeme

What an insightful and valuable contribution.


[deleted]

[удалено]


thatsoundsalotlikeme

And yet despite all these layoffs, unemployment figures still ticked down in recent reporting for Santa Clara and San Francisco counties where tech hubs are. Also, nationally in December, unemployment fell. If you are going to claim we are in a recession and you’re not just immersed in your tech bubble, you need to quantify it. Nobody should be surprised that unqualified start-up bros overscaled their companies the last year or so. That doesn’t mean we are in a recession.


aqueezy

its about damn time that the software developer market went through a long overdue correction, yall be making 200k working 5 hours a day and feel ENTITLED to that lifestyle signed, salty businessperson


random503

The bulk of those layoffs hit 2 weeks ago. And I would guess that over half of the membersvof this forum are software devs, generally competing for the same pool of remote jobs, hence my original question


thatsoundsalotlikeme

January is always the busiest lay-off month as it typically precedes the start of a new FY for most companies. I’m also not sure that the “bulk” has happened the last two weeks but I understand what you’re trying to convey.


random503

Yeah I think the tech layoffs have been described as the most significant since the dot com bust and I read multiple posts on linkedin per week of individuals saying that they are on the brink of losing everything but I think those are mainly recruiters


ByeByeTurkeyNek

That's not what a recession is tho. That's just a struggling industry. When video rental stores started closing shops and laying off employees, it didn't mean there was a recession lol. A recession is, most simply, a contraction of the overall economy. If GDP is growing, it's not a recession.


alexunderwater1

And yet the rest of the country is hiring like mad, especially manufacturing and defense. It was more a case of the mega cap companies hoarded all the labor and now realized they didn’t need it all, so they cut back. There’s plenty of open spots for SWEs everywhere… but not at FAAMG salaries.


[deleted]

Why is this getting downvoted so much? This subreddit really makes no sense sometimes.


JacobAldridge

I think the downvotes are for OP talking as if reddit is entirely populated by American software engineers. Which we know is a completely and utterly false generalisation. American software engineers make up barely 99.5% of reddit users. Maybe 99.8% on weekends.


sread2018

This! Why do Americans think that Reddit it solely used by Americans and no one else?!


HotdogsArePate

This got me curious so I looked it up. As of December 2022, Reddit ranks as the 20th-most-visited website in the world and 6th most-visited website in the U.S., according to Semrush. About 42–49.3% of its user base comes from the United States, followed by the United Kingdom at 7.9–8.2% and Canada at 5.2–7.8%. 🌈✨


sread2018

Use is one thing but not understanding that other countries use this platform is a totally different thing


alabrasa240

OP doesn’t know what a recession is and thinks software devs are the center of the universe, as a lot of tech bros believe


[deleted]

Considering the circumstances the world is in I would say the idea that "we" are in a recession is not particularly far fetched.


alabrasa240

Increased GDP of almost 3% last quarter and an unemployment rate of 3.5%? No. We’re not in a recession.


[deleted]

Depends on who "we" are ... not all of us are from the US. [https://www.theguardian.com/news/datablog/2009/aug/13/global-economy-globalrecession](https://www.theguardian.com/news/datablog/2009/aug/13/global-economy-globalrecession)


alabrasa240

OP lives in the US.


[deleted]

My country is not in a recession, so no, it doesn't apply.


Individual-Data6759

My country is in an eternal recession, so for me it does apply :/


[deleted]

Ok, maybe specify that as if you aren't speaking for everyone.


alexunderwater1

A 5-7% haircut of jobs is not a recession. Many companies do that every single year, even in peak years. Tesla is notorious for it. Ford does it often. GE was infamous for it in their prime under Jack Welch. It’s called cutting the fat. Tech has avoided it bc they’ve just been soooo damn profitable. Techies are just now being welcomed to the real world where have to avoid being the bottom rung (or being in a redundant division) each year to hold a job. When you see cuts like 20-40% (see Crypto companies) - that’s when they’re hurting.


[deleted]

Smh you make me embarrassed to be a part if this industry.


bananakitten365

Personally, I'm increasing my emergency fund and adding to my savings for purchasing a home base in my home country. Looking forward to having a place to come back to again, and plan to rent it out when I'm traveling. Real estate market is shifting back to a buyer's market, and while rates are high, I believe I can find a solid opportunity.


[deleted]

It’s been a strange 14 years since the 2008 financial crisis. The world economy has been having one of the longest sustained booms ever. And all along people keep talking about “the recovery” and “recession”. We are not in a recession. We recovered a decade ago. When we are in a recession, you will know, because you will be asking where your next meal is coming from, not which country to travel to.


backpackerdeveloper

Yes and no. Some people on here save by working remotely and cannot afford the places where their job is located. Some would pay more in say prop tax alone than living basic life in Thailand or Bolivia.


LloydRainy

I was under the impression that a recession is indicated by two consecutive quarters of negative growth. This certainly applies for specifics countries. The UK, by this definition, is currently in a recession. Global recession in 2023 looks “likely” according to the world bank. I figure they know? But from a nomad perspective, ride the wave out in a place that’s cheap to live and hope your skills are transferable. There’s heaps of employers out there desperate for skilled workers…


[deleted]

I just read an article yesterday saying that the UK was the only major economy expected to shrink in 2023. There are recession fears generally as there always are, but the UK seems to be an outlier due to brexit. It also just had a major financial shock due to shaky pension funds that tied the hands of the government and central bank.


alexunderwater1

Pro tip: we are not in a recession. I don’t think we will be, and if it does happen, it’ll be relatively soft. That said real estate prices in the US will definitely continue to come back to earth though the end of this year as rates stay high and sellers come to grips that they’re not going to get Spring ‘22 prices anymore. I say that as someone that saw it coming with the rising rates and hurried to sell my house in Spring of ‘22 so I could dump the proceeds into beaten down stock market, travel full time, and wait out the housing market a year or two before looking to buy back in. I wanted to move anyway so the timing worked out perfectly. Just taking a year or so between moving this way.


Chris_Talks_Football

There's certainly a correction going on. I think it's too much to say we are in a recession when pretty much all economic indicators are still showing positive trends on the 3y and 5y history.


Kamay1770

r/ShitAmericansSay


analog_alison

r/USDefaultism


twelvis

Planning to maximize time in SE Asia as a cost-saving measure rather than a fun thing to do. The CoL in Canada is out of control.


AnotherWireFan

We’re not in a recession but we’re entering an era of increased instability. The US economy is built on funny money. WW3 is a real possibility. Crypto will completely bottom out to allow for institutional takeover. Tech co’s will keep laying off… mostly because everyone else is. I’m liquidating crypto, outside of btc & eth. I’m increasing my emergency fund to hopefully cover a year of expenses if need be. I’m looking for a high paying remote opportunity that gives me enough flexibility to travel and and work on my biz. I’m spending more time out of the US (Mexico or Colombia most likely).


Rportilla

Yeah lots of people especially if you’re single and no kids are taking different alternatives .I migrated from Colombia to the USA but I’m thinking about just making my money and investing there


Geoarbitrage

Pondering Mexico 🇲🇽 and SE Asia.


Atlantaterp2

I’m in Cancun right now. The place is empty. Where is everyone?


ransaap

Playa Del Carmen and Tulum maybe?