Lost my job today...

[Account Closed]

Well. I lost my job today. Nope, I didn't quit. I was laid off. I was working for a company called Gulfstream. They had to lay off 1,100 employees, and I was one of the unlucky chosen. So... What to do now?

I really want to start investing, just not sure where to begin, especially with this new position I'm in. A month ago, I was making 4 figures a week and could practically afford any real estate investment on my mind. Now, I have no job, no savings, nothing. Where do I begin?

[JD Martin]

Originally posted by @Account Closed:

Well. I lost my job today. Nope, I didn't quit. I was laid off. I was working for a company called Gulfstream. They had to lay off 1,100 employees, and I was one of the unlucky chosen. So... What to do now?

I really want to start investing, just not sure where to begin, especially with this new position I'm in. A month ago, I was making 4 figures a week and could practically afford any real estate investment on my mind. Now, I have no job, no savings, nothing. Where do I begin?

 I would begin with another job - if you were making 4 figures a week, and have no savings, I am going to go out on a limb here and say you really aren't prepared to be a real estate investor. You can't invest in real estate without either using other people's money or your own, and you need real dollars to make it happen - you can drop 20 bucks a paycheck into your mutual fund, but that isn't going to work with RE. Whatever route you go, you need funds to make it happen, and you don't even have a safety net to provide for yourself, apparently. This may sound cold and harsh but I think it is reality.

You can't really focus on being an investor if you don't know where your next meal is coming from, so I would focus on that part of the equation first. People who lost their job and it ended up being an entry into their new career almost always were more or less prepared to make the leap anyway, and losing the job just gave them a little nudge. You sound like you're falling into the abyss.