This crash makes the dot-com crash look like a piker. Having been through that one, maybe I can offer some useful advice.
I can imagine how you feel. You've just been laid off from a well paying job and the prospects of getting hired in the financial services sector are slim. Many of us in technology went through this in 2000/2001.
Dr. Elisabeth Kubler-Ross identified five stages of grief people go through following a serious loss:
- Denial and Isolation
- Anger
- Bargaining
- Depression
- Acceptance
Word to the wise, get through these stages ASAP. You don't have the luxury of wallowing in pity. The first thing is do whatever it takes to scale back the lifestyle. You want to become frugal fast.
Look, I'm not being cruel here. I DIDN'T take this advice and I paid a HEAVY price for it (divorce, financial problems, etc.). Learn from my mistakes. Don't put on a brave face either, you have to be up front about this with your family.
Good luck. It's taken me years, but I'm crawling out of the hole I dug. You can stop digging now and save yourself a lot of grief.
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