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Achieving Financial Security in an Unreliable
Economy |
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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.
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