IWillTeachYouToBeRich - What I did when I got laid off in 2009

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Reader,

In the 2008-2009 recession, I was laid off from my own company. For the tens of millions of people who will soon experience layoffs, I believe things will get worse before they get better.

When I got laid off, I remember it vividly. The first thing I did was stop at Safeway on the way home because I didn’t have any food at my house. (My company used to get us lunch.)

I talked about this story in my Fireside Chat series. If you want to hear the full story, check it out here.

Money lessons I learned during the 2008-2009 recession

I’m not the only one who’s ever been laid off, but I hope that by sharing some of my lessons from that time, I can help.

My email inbox is filled with similar stories of layoffs and questions about what to do next.

Here’s what I did.

#1. I called my dad

If you have parents, there’s a good chance they know exactly what it’s like to be laid off because it’s happened to them. Anyone who’s had a long career has had something bad happen to them.

When I called my dad, he listened. He told me it was going to be fine. And he let me know that I didn’t have to tell anyone if I didn’t want to.

When I was going through something I’d never experienced, he let me know that it was okay — and that was exactly what I needed to hear.

#2. I gave myself time to feel bad

I didn’t call up a dozen people in my network looking for the next opportunity. I didn’t update my LinkedIn profile and start looking for another job. And I certainly didn’t readjust my calendar for maximum productivity.

Instead, I gave myself a few days to just feel bad.

For someone who had never really stopped to “feel my feelings,” this was one of the first times I intentionally slowed down to acknowledge them.

This is important. The things that are happening right now are truly cataclysmic. Our jobs, and worse, the lives of our loved ones. Many of us are feeling confusion, anxiety, even anguish.

If you’re feeling any of these things, please know that it’s normal to feel them. And together, I hope we can create a better future.

#3. I decided to control what I could control

After mourning what had happened, I decided the only thing I could do was focus on what I could control. I knew I couldn’t control what had happened, but I could look back a year from now and say, “That situation gave me the opportunity to create something better.”

And so I decided to go full time on IWT, launching the book, which was months away from being published. I poured everything into the launch, into going on tour, and ultimately to building what IWT is today.

Looking back, it seems like everything worked out with some kind of master plan...

...but that’s not how it was. I was confused. There were people losing their jobs, people worrying about if the economy would ever recover. Things were happening quickly and I felt I had to react. It wasn’t until later — much later — that I could look back and understand what had actually happened.

That time period doesn’t even compare to what’s happening now. But if sharing my story can help you accept reality, make a plan, and move — then I feel fortunate.

I’d like to know what you’re feeling right now. Are you paralyzed by what will happen next? Are you anxious about your job? Are you thinking of creating opportunities for yourself in this crisis?

Write me and let me know.