As a kid my Dad was always self employed and was always involved in some kind of entrepreneurial venture, as a result our financial situation was never what I thought was stable. I swore that I would Find a stable career and stick to it. Well my attitude has changed drastically over the years. I have spent a great deal of time working in a so called stable profession, bringing home a paycheck every other week etc. After several years of doing this I realized that my stable lifestyle was not so stable. As the years tick away one tends to think more and more about acquired wealth and your ability to weather retirement. The typical middle class employee today cannot expect the same bounties enjoyed by our parents and grand parents. Most companies are woefully behind when it comes to keeping wage increases compatible with yearly cost of living reports. Also on average retirement and health benefits are steadily disappearing out from under the average employee. Back in the day we could expect better pay, more stability, and more chances to move up as perks of longevity. This is no longer the case, companies have discovered that employees cost much more to employ the longer they are with the company. Thirty years of raises adds up, and retirement pots grow, and more kids on the health plan translates to higher heath care cost for the company. Not to mention the fact that the older the employee is the greater the possibility that they or their spouse will experience a catastrophic illness that will raise premiums company wide. It is infinitely cheaper to have a high turnover, keeping the staff relatively new to the company, and implementing some kind of forced early retirement or layoff tactic. The days of longevity are over. To make some kind of stable future for you and yours you have to diversify, and I think my Dad had the right idea. We experienced some lean and uncertain times but in the end he created a much more stable environment than he would have by paying into a retirement fund or worse social security. My advice is to follow that dream, dont sit around and wait for inflation to overtake your future. Start that business that you have always thought was a good idea, many things can be accomplished on your off hours. You do not necessarily need to go into debt to accomplish this, start small, think of this as your retirement plan, and never give up. Every business, every corporation out there was started by someone, someone who decided that they were not going to leave their future to the mercy of someone elses bottom line. |
