|
Click Here
for more Articles
|
|
|
|
Achieving
Financial Security in an Unreliable
Economy
|
|
by:
Shannon Lavenia
|
Copyright 2005 Shannon Lavenia
Financial Security is a false concept that developed in American
society based on the idea that security comes from the perceived
reliability of a regular or planned paycheck. Many people, believing in
the commitment of their corporations to their well-being, have found
themselves downsized, layed-off, outsourced, transferred, or, in some
cases, even fired. The immediate reality becomes harshly apparent and
sadly disappointing.
The bottom line is that Corporate America will always be focused on the
bottom line. As a dependent corporate employee, you are subject to the
whims of the corporation. You have absolutely no control over how much
you earn, where you work, the longevity and reliability of your income,
or your position. You are simply a number. At any given moment, some
nameless pencil-pushing number-cruncher, can deem that you are no
longer an asset to the company and, rather, have become a liability. At
any given moment, it can be deemed that you no longer factor into the
profitability of the corporation - and your OUT. They don't care if you
have a mortgage to pay, 3 kids in college or a new shiny car with a
hefty payment. They don't care that you've come in early for the last 9
years or given 20 years of your life to them. The bottom line is that
you don't effect the bottom line in a positive way...so you're OUT.
Corporations no longer hold value in employee commitment or dedication.
Each day, companies are choosing to cut costs by outsourcing to less
expensive countries with cheaper labor, downsize, and reduce costs by
eliminating cost of living increases, benefits and retirement
guarantees. Recently, the media has been focusing on the deliberate
actions of corporations that cost employees each year. The Christian
Science Monitor, on November 7th, 2005, featured an article, “Workers
Face Paycheck Pinch”. In the article, the author, Mark Trumbell,
details the lag of Corporate America to maintain pay increases with
inflation:
"For all its strength, the current economic expansion is not boosting
the American worker's paycheck. Wages have been rising nominally:
Average pay rose 8 cents last month to $16.27 an hour, according to a
government report Friday. That's not fast enough to counter inflation.
By one common measure, average pay for an hour's work has less
purchasing power than it had four years ago - when the current growth
cycle began. It's a pattern of weak wage growth that's now several
years old, but the trend has worsened in recent months. Wages for the
most recent quarter were 2.3 percent lower, after inflation, than
workers received a year before"
Time Magazine recently featured an article entitled “Broken Promises”
"It was part of the American Dream, a pledge made by corporations to
their workers: for your decades of toil, you will be assured retirement
benefits like a pension and health care. Now more and more companies
are walking away from that promise, leaving millions of Americans at
risk of an impoverished retirement."
"Corporate promises are often not worth the paper they're printed on.
Businesses in one industry after another are revoking long-standing
commitments to workers." (Bartlett and Steele, October 31, 2005, p.
32-33)
So, how do you achieve Financial Security in this changing global
economy? Employers aren't even keeping up with inflation and are doing
everything in their power to reduce benefits and retirement income. The
days of being rewarded for loyalty to corporations are long gone – it’s
now every person for themselves. In addition, loop holes in corporate
law enable companies to restructure, file bankruptcy and maneuver their
way out of promises to employers to provide benefits.
In reality, true Financial Security is belief in yourself and your
ability to instinctively create income for yourself at any time,
anywhere. Entrepreneurs understand true Financial Security. They’re
self-reliant, creative, independent and solution focused. We know that
at any given time, regardless of the economy, trends, timing, etc. that
we have the skills, know-how, and guts to create our life.
Entrepreneurs refuse to be dependent on or subject to the whims or
decisions of corporate America, rather establishing themselves as
corporations, producing their own incomes through commitment, service
and sheer motivation. We are responsible for our own retirements and
count on the promises of no one. Entrepreneurs ARE financial security
and as such we reap the rewards.
There are many opportunities for people to become successful
entrepreneurs. Thousands of people have made fortunes on the internet
alone. Decide what type of business you want, what your ultimate goal
is (time, money, leisure, etc) and go from there. A common
misconception is that businesses take thousands of dollars to start. It
is true of some, but there are many lucrative opportunities available
for nominal start-up costs. Once you make the decision to be
self-employed, do your research, find the right business for you and
move forward from there.
About the author:
Shannon Lavenia is a premier trainer and business educator in the field
of wealth creation, entrepreneurism, and internet marketing. She can be
contacted at http://www.trueprosperitynow.comor
800.303.2580.
Circulated by Article Emporium
|
|
