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