Uncertainly requires contingency

My next-door neighbor perpetually spies on me. She lives in two claustrophobic, box-and rubbish-filled rooms off the garage while the rest of her 3,000+ square foot House of Usher collapses around her, having never been finished after flooding, during construction, twenty years prior.

She’s in dreadful shape, sickly, confined to a wheelchair, resentful, paranoid, and judging everyone, no matter how much they try to help. A year ago, her equally ailing husband passed away.

No doubt, both realized their living situation wasn’t ideal. Their kitchen consists of a refrigerator, sink, and hot plate. Their bedroom, nothing more than mattresses on the floor.

Despite receiving numerous offers to purchase their house, they deteriorated in place. The wife now a vortex of fury over her dependency on others from getting groceries and her mail to doing her laundry.   

What’s become clear is the need for contingency.

No matter where you are in life, it’s important to consider what could go wrong—from being laid-off to climate catastrophes—and then consider contingencies. Toss away the hesitancies, loyalties, and misgivings. Realize your support network may graciously bow-out or not be available to help.

It’s a sad reality.

This year, nearly 300,000 employees from 1,697 companies have been laid off. The challenge of obtaining another job illustrates the need for not “getting too comfortable” and to consider contingencies.

It’s equally important to keep tabs on market dynamics. So far, in 2026, eleven major manufacturing companies have cut over 25,000 jobs. The unprecedented closure of stable, long-term institutions like department stores, pharmacy, restaurant, and fast-food chains, and innumerable retailers points to the volatility of both the economy and consumer preferences.

Companies routinely create contingency plans to identify potential risks—natural disasters, competitive shifts, technical failures, and more—and thereby develop actionable response plans.

It makes sense, therefore, to create personal and professional contingency plans. Forget about loyalty. Keep your resume updated, bolster your skills and accomplishments, and regularly look for emerging opportunities. Don’t expect kudos if you gotta’ captain the ship out of rough waters. Instead, recognize choppy waters could be a sign it’s time to head for a lifeboat because the ship is taking on water.

Isolated stories of companies dispensing with employees to improve their bottom line or put a smile on stockholders’ faces are now weekly occurrences. Blather about valuing employees is words that are quickly forgotten as redundant and displaced workers are marched out the door.

From a personal perspective, don’t wait to trim your household budget and reduce discretionary spending. Applaud rather than deplete a growing bank account. Resist liquidating investments and make repairs before they become larger problems. Assess whether you need the leased luxury automobile, daily lattes, and another snazzy outfit.

The reality is nearly two-thirds of Americans cannot cover an unexpected $500 expense without borrowing, and over 60% live paycheck to paycheck, even those earning six figures. Identifying what could occur and creating contingencies is a necessity during times of uncertainty.