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