Thread regarding Xerox Corp. layoffs

This affects anyone over 40, not just white, well-paid, men. Yeah, women don't get paid as much for the same job because of the wage gap, which is c-ap, but it is way harder for older women or any color to find good solid work if they've been layed off after 40. The s-xist line of the OP is irritating as if the women are spending and the men aren't, so that could've been left out and this article would've been more accepted. The tips are important for everyone. Always pay off your credit cards; don't carry excessive debt; don't live beyond your means; always save. That's obvious and good advice to everyone.

Someone has been drinking the look-aid: White men being discriminated against, crazed terrorists and criminals crossing via Mexico, jobs and economy numbers good, witch hunt, etc.

A side hustle / business is something more people should consider.

Why would you think this thread is racist?

This is racist...

Whether you agree with the original poster or not, his overall premise is sound. If you're in your 20's you can weather the downturn that's coming since your time horizon is 3-4 decades long. For those who are in the "2nd half" of their working life, you need to get your financial house in order. Save as much as you can. Cut out any spending that isn't absolutely necessary. Splurge a little every now and then, but in general take on a minimalist mindset. Then you'll be more prepared if you are impacted by one of the IRIF actions.

To the original poster....

I see stupid people!

What kind of racist, s-xist c-ap is this? It doesn't even make sense. "It will be worse for those that make the most?" Poor you! "Your wives can spend less?" Who are they, Lucy and Ethel? "The sad future for white men?" At least we had an opportunity.

Good advice on money management, but not sure why you have to be white for this to be true (being a white male myself). Plenty of minorities go through the same thing. In our organization, I've seen several white, 50+ hired (and let go, or quit) and the same for minorities.

Great advice I snapped my fingers and got out of debt too! Thanks this was really enlightening.

I totally agree. I was laid off from Xerox back in 1998 and devastated because I had large mortgage and buried with debt. When I was brought back 4 months later, I vowed not to feel controlled by a company again. I read a book by Vicki Robin titled Your Money or Your Life. Even though I did not follow everything to a T it put a lot in perspective and was able to become debt free in about 8 years. I now have no mortgage and pay credit cards off at the end of each month. It feels good that if (when) I do get laid off i will have nothing to worry about. It takes a lot of Discipline and Sacrifice but well worth it in the end.

Good advice for anyone, anytime. I dumped my debt when my child went to college which included a sizable home equity loan and heavy credit card debt. I was out on a limb and knew I was really exposed. I paid for college in cash, paid off my credit cards (I pay in full every month now), and also paid off my mortgage. I didn't make a huge salary, and my wife also worked. It's a great feeling to be debt free and know that life can throw you a curve ball and you'll be just fine. It took me 5 years to do it (including the mortgage) but gave my family peace of mind and flexibility. Well worth the effort. On the process side, read the Dave Ramsey book "Total Money Makeover". It's a great road map to get from here to there....