Posted: 12/30/2009 3:22:29 PM EDT
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OK, time for me to come out clean, I'm probably facing the scariest period of my life (so far) and need some advice. Late forties, have a family, I've developed a health condition that while not life threatening, reduces my personal productivity significantly (hence also impacting my income, single income family). Let's say a disability to carry out my current job by trade. I have 3 months to figure this out (before money runs out and we're pretty much on the street). What are my options? - Unemployment (I believe I must not quit, the company must fire me to qualify for WA unemployment benefits), where do you find info on this? - LTD (does WA also provide this? or is this solely through the company I work for, if so I might be SOL)? - Go take my money and start a small business (but what business? I know guns and ARs, but not much about starting that type of a business, i.e. FFL licensing, dealer sign-ups, etc. and how much money would it require?). I know I'd take employment from the WAHTF to help. - Go take my money and trade the stock market (I've done this OK as a hobby and made a fair profit, but never as a sole source of income, i.e. a day trader) - Learn something new? (Take a union job, etc. but what?) What says the hive? Thanks! |
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Quoted:
***snip*** What are my options? - Unemployment (I believe I must not quit, the company must fire me to qualify for WA unemployment benefits), where do you find info on this? *** snip***Thanks! You cannot quit AND you cannot be fired. It typically has to be a "lay off" in order to collect UE. Companies have been known to work with people on this one. 
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I would first explore ways to use your knowledge and experience about your current trade to either start your own business, or become a consultant or manager of some kind.
Starting a gun business is going to be expensive, and I think the market is already pretty saturated. What us it you are doing now? |
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From the unemployment website. http://www.esd.wa.gov/uibenefits/index.php
**** You must have 680 hours of covered employment in your base year to meet the initial requirements to qualify for a claim. You must also have wages in Washington in order to file your unemployment claim against the state of Washington. You need to give us the reason you became unemployed. * You are probably eligible if your employer laid you off for lack of work. * We have to make a decision about your eligibility if you voluntarily quit your job, were fired or suspended by your employer, or are on a leave of absence. * We will get information about your separation from both you and your employer. Both you and your employer have an opportunity to respond to each other's version of the separation. We will then issue a written decision based on the information we gathered. You must be physically able to work, available for work, and actively seeking suitable work. **** In their Forms and Publications tab they have a .pdf of their claims booklet. It's not real specific about your actual issue and whether a injury would make you eligible for unemployment. I'd call L&I and ask the question, then call the unemployment telecenter and ask them as well. |
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Quoted:
Quoted:
***snip*** What are my options? - Unemployment (I believe I must not quit, the company must fire me to qualify for WA unemployment benefits), where do you find info on this? *** snip***Thanks! You cannot quit AND you cannot be fired for just cause. It typically has to be a "lay off" in order to collect UE. Companies have been known to work with people on this one. Fixed. You can be fired, it just can't be your fault you got fired. The company needs to show a history of behavior that led to your firing. If they fire you for no reason, you can collect unemployment. ~Icarus . |
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Quoted: What us it you are doing now? Heh, the usual around here, I'm an ex soda-factory imp, I do program management (think of it as the manager of construction projects), in my case for soda factory scale, it's a fairly small scale project, maybe a rounding error in the accounting  ).
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Go too the unemployment office and talk too them about commisioner approved training/retraining it helped put me throught tech school just a thought
The ideal scenario would be D. all of the above imagine having no real job a little day trading, an ffl to get invintory for for the wac shows, lots of lucrative hobbies no real "job". If your condition is progressive you can work towards some of these goals as your condition unfortunantly worsens while keeping your day job. (edited for my screw the man no real job idea) |
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Quoted:
Quoted:
What us it you are doing now? Heh, the usual around here, I'm an ex soda-factory imp, I do program management (think of it as the manager of construction projects), in my case for soda factory scale, it's a fairly small scale project, maybe a rounding error in the accounting ).Development skills? Or all management? If you're a developer who just can't keep up the pace anymore then I'd say start your own software business. All it takes is a good idea If you are only management then I'd try to find some whipper-snapper developers in need of some guidance.
Good luck! |
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Sorry to hear this. I don't have any answers, but I do have a strong suggestion to lend to you, (or to anyone facing any type of financial hardship). Read this book, and I think a lot of your own answers will come to you.  Making it isn't nearly as important as keeping it is. Good luck to you  |
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This book comes highly recommended from Dave Ramsey. It's 45 Days to the Work You Love.
I've heard its a great book! |
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One other possibility is to purchase foreclosed homes at auction, provide minimal improvements, and resell. This seems the best option in terms of risk and reward of panning out. Who has skills related to building a home: - Carpenters - Plumbing - Electrician - HVAC - Concrete - etc. |
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A bunch of us have skills.
But a homeowner can get away with alot more home improvements than a contractor can when it comes time to inspect the work. IOW, do it one house at a time, and make each house your "primary residence" until you sell it. Lenders will like you better that way too. 
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There are business considerations of course like contracting and getting paid for work Primary Residence is the easiest route, I could sell my primary residence as capital, use that to purchase a foreclosure as a primary residence, and obtain better interest terms. There is I believe a limit on how many "Primary Residences" you can buy and sell in a period of time before you're considered/required to have a real-estate agent license. So at which point I'll have to partner with a real-estate agent (or learn how to become one). Any real-estate agents here that can help with some questions? |
LOL, yes, that much I figured  I can't split myself into pieces and live in multiple places at the same time.I meant to say buy, occupy, and sell primary residence. I could only do that 1 primary residence at a time. If I can somehow manage to buy a secondary home, that would be so awesome as an indicator of huge success. I'll take it one step at a time, if I can get 1/2 my salary, while moving around primary house to primary house that would be stressful, but manageable (I'd mostly put everything in storage anyway indefinitely). |
