First, let me say, recessions are as much a part of the cycle of life as the Red Sox winning the World Series – these things happen.

What does it mean for you, and your future? It will affect you, probably has already started affecting you. As with a World Series win, it’s something you’ll always live with (if you’re a Boston fan).

Since the early 1950s they (recessions, not baseball) have occurred more frequently, tied to various, familiar-sounding causes (oil prices, banks, stock market).

Right now, we seem to be following the path of a reset – moving prices on some things back several years, while putting a big crimp in some industries (financials, real estate, stocks, manufacturing).

Here’s what it means for me, then for you. For me, it means that making careful choices is the way to go. In past recessions, I’ve faced some substantial decisions, such as foregoing grad school because the return on that investment wasn’t enough to make it worthwhile in a reasonable amount of time.

Same goes for career moves – I decided to pass on a move to California (50 degrees in San Francisco, 14 degrees in Boston today) during an earlier recession because a weakening economy made that kind of move even more risky than usual.

For you, it means that playing it safe is a useful strategy, but it won’t set you up for the future. If you’re working, sure, stay at that job for now. But can you do more? Yes, you can take advantage of this time to learn more. At work, be creative, hone your problem-solving skills. This could be a critical survival skill anyway, because there’ll probably be fewer of you doing more work.

Outside of your office, or if you’re not currently working, use your “stability” as a time to take on new skills. Learn more, take courses that could help you do more (project management or consulting are among the most portable skills around). Investigate more organizations – either professional, hobby, or volunteer-related. Your skills will increase, your network will grow, and you’ll be in a great position once we start moving out of the recession.

You could even start a small business on the side (and I mean Keep It Small). If you have some limited success, it may be a path for you as things start looking better.

OK, that’s the big view from my perspective. What do you think, is this workable?

Photo by nerovivo