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Lessons From Past Recessions

Success

For anyone who lived through the fear and uncertainty of the 2008 financial crisis, hearing ‘recession’ from news anchors and pundits can bring up anxiety and fear. The most recent recession was in 2020 and only lasted a couple of months, whereas the 2008 recession lasted about 18 months. Beef up your emergency fund.

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Do You Know Your Lifestyle Ratios?

Stephanie LH Calahan

You might have interest income, rental income, and investment income along with your business income or salary. In the example below, this person is well on their way to retiring. She is the former Treasurer for the International Virtual Assistants Association serving on their Board of Directors for the term 2005-2008.

Lifestyle 100
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The Structural Shift to a Contingent Workforce

Small Business Labs

  It was also a key factor in our 2008 forecast that the number of small businesses would increase during the recession - a forecast that met with a lot of skepticism but proved correct (OK, I admit to patting ourselves on the back on this one).  Cheaper, too, because with flatter organizations, less management is involved.

2010 100
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You Will Survive: 8 Strategies to Overcome New Entrepreneur Anxiety

Success

This panic arrives the moment we realize we’ve strayed too far from the paycheck mothership and feel compelled to run back to the salaried womb. There is an escape from the Money Panic, and it doesn’t involve selling off retirement investments or increasing your credit card limit. Congratulations! Secure a “consulting” gig.

Salary 363
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New Small Business Startup Idea: Virtual Import/Export Assistant.

The Small Business Blog

He is now retired but worked as a customs officer and also owned a restaurant that he was forced to sell after it ran at a loss for 2 years. Stefan Justine Curtis Said on May 1st, 2008 at 3:11 pm What a great idea for a multi-lingual virtual assistant. The average salary in her country is $200-$300/month.

2007 100
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I'm back!!

Laughing all the Way to Work

In 2008 I took a job as an Executive Assistant and Corporate Secretary to a non-profit corporation. I was calling it early retirement for lack of a better term. I gave them lots of notice and was going to 'semi-retire' in three months. This position was certainly different than anything I had ever done.

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Bored to Tears at Work - Help!

Musings of a High-Level Executive Assistant

I make an incredible salary so when I tell my husband and friends I want to explore other avenues, they think I'm crazy. I also thought about money, salary negotiation, and how I was spending my time. I have no idea what salary you make, but whatever it is, it must be above the norm or at least a lot considering how little work you do.