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