People in high-earning jobs have more financial flexibility than people who earn the median income, but they're vulnerable to the same risks as every employee. If a high earner loses their job, their income will suddenly vanish, and one high earner is nervous about that scenario.
A 28-year-old high earner who earns $250,000 per year and has $1.3 million in the bank told Reddit that he is working at a struggling company. The individual lives in an expensive area and thinks a layoff is imminent.
"It's very likely I will be out of a job soon," the poster said.
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This fear has also fueled stress, especially because the 28-year-old views the current job market as a bad one that can lead to long-term unemployment. Fellow high earners jumped in the comments to share how the high earner can navigate this situation.
Remain Calm
Stress won't do the 28-year-old much good in this situation. That was the overarching message from the top commenter, who said that the 28-year-old has a good financial cushion.
"Take a deep breath. You will be okay. The fact [that] you have that much saved at 28 years old with a $250,000 job means you are good at tucking away money for investments," the commenter said.
The 28-year-old only spends $60,000 per year, which isn't much of an issue considering the $1.3 million in savings. Sure, anyone who gets unemployed will want to find a job quickly. However, the 28-year-old isn't in a financially desperate situation where they are living paycheck to paycheck.
"You're good to go. You don't have a family to feed. You don't have a big mortgage payment to make," another commenter said.
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The Impact On Long-Term Life Goals
The original poster responded to the comment about not having a family to feed or a big mortgage by sharing long-term goals. Those goals are pretty standard: have a family, buy a house, and go on vacations. Part of the stress stems from the fact that the original poster feels like these goals may become out of reach if they get laid off.
Ultimately, the original poster hopes to find a new job soon and "be back to being optimistic about the future." There is uncertainty right now since it sounds like the 28-year-old can be laid off from the struggling company at any time. However, this individual had enough skill to land a $250,000 per year job and can use this experience to land another high-paying job.
The original poster cited a slow job market as part of their concerns, and a commenter responded by keeping things in perspective.
"These things come and go. [The] market won't [be bad] forever and you aren't going to starve in the meantime," the commenter said.
"You have more savings than 99% of Americans your age," another commenter replied. "This is a huge accomplishment and you're going to be just fine."
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Take Care Of Your Mental Health
The original poster has put themselves in a great financial position, but stress can make those achievements feel small. That's part of the reason one commenter suggested that the 28-year-old do more things outside of work and take care of their mental health.
"Prioritize things to help you cope, be it taking walks, working out, or doing hobbies," the commenter said.
Most commenters said that it's financially feasible for the Redditor to be unemployed for one to two years. Obviously, this isn't ideal, but it demonstrates the Redditor shouldn't stress too much about it.
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