I spent most of the day today trying to think up a plan in case I get laid off. I wish I was close enough to paying off my mortgage so I could just say that I don't care what happens. Even if I took all of my reserve money and sold my RV and put it towards the mortgage I would still have 4 years and 4 months of regular mortgage payments (paid by the tenants preferably) before I would see any rental income for myself. Even if I cashed out my 401K (don't worry, I won't do it) I still wouldn't be able to get rid of the mortgage. My 401k is too pathetic right now.
I read an article on MSN Money (I can't seem to find it again) which suggested people use this time to go back to school, change careers, or take a sabbatical. That's great if you can manage it. I do have an emergency fund which would get me through a whole year as long as my rental house didn't need any major repairs. I don't think I would take a whole year off by choice but I looked at the available jobs out there and they were mostly for call centers. Not exactly my thing.
If I do get laid off I will go visit my family for 2 weeks right away before my money runs out and before unemployment benefits kick in. There's a waiting period for benefits. I don't remember if it was two or four weeks but the last time I got laid off I checked the mail every day because I didn't know there was a waiting period. This time, if it happens, I'm going to go on a trip and relax a little. Hmmm...if I keep thinking like this I might actually start looking forward to getting laid off. :)