I was on the journey to early retirement with $800k, but now I can’t find a job as a software engineer—what should I do?

A Reddit poster was on track to be able to retire early, but is afraid that extended unemployment could derail his dream. The poster said that he has spent six years working as a software engineer and managed to save $800K during that time.  

Unfortunately, he has been laid off. Now,  despite his previous experience working for one of the country’s biggest tech companies, and although he earned a degree from a top 20 school, he has still been unable to find a job for over a year — even positions at companies paying under $100K.

He’s now run through his emergency fund and has been selling his stocks to make ends meet. He was looking for some ideas and suggestions to keep his dream alive. 

So, what should the poster do?

How to find work after a long period of unemployment.

Unfortunately, the only real solution in this type of situation is to get income coming in — and to do that as quickly as possible. The poster’s $800K has set him on the path to potentially being able to retire early if he’s able to continue investing and if his big nest egg can stay invested so compound growth works for him. 

Sadly, if he continues spending the money he has saved, he could end up starting from scratch — and doing it later in life when he has less time for compounding to grow his funds quickly. This could make it harder to achieve his goals. 

Of course, that means the poster has to find a way to start earning income, which is easier said than done — especially given he’s already been trying everything he can. However, Reddit posters had many different suggestions for him. Those reading the thread suggested he:

• Step up his networking and reach out to former colleagues for job leads. If he can get an “in”. at a company because he knows someone who is working there already or who has connections, then he will have a much better chance of getting hired. If no one he knows is aware of any open jobs, he could also ask for recommendations and endorsements on LinkedIn, which could potentially help him get noticed. 
• Looking into alternative career paths. The Redditor may have transferrable skills that he could use to find a job in a different industry where his options may be better. 
• Take a survival job or work a side gig. If the poster is no longer getting unemployment benefits, he should consider taking just about any job he can find, and potentially even opt for working a side hustle as well. Right now, the important thing is to get some money coming in so he can afford his expenses and doesn’t have to sell his stocks. 
• Update his resume. Several different suggestions were made regarding the poster’s resume. Some recommended making sure that his resume showed all of his current skills and experience. Others advised him to make certain his resume doesn’t make him sound too fancy if he is applying for more basic jobs. For example, the poster said friends had removed words like “principal” and downgraded their titles so they seemed like a better fit for the roles they were applying for. Tailoring a resume to different job posts could help the poster show he’s a good fit for each position. 
• Explore freelance work. Finally, some suggested that he look into freelance or contract work to help him bring in income to avoid selling his stock.

Use these tips to find work ASAP

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