Here is How to Have Lifetime Stability in Your Income.
Stability that no one can take away. You just need to rethink the things you once believed, not always easy to do but vital to your long term survival.
My Dad worked at the Power and Light Company in Indianapolis for 30 years. My Grandpa and several of my Uncles worked at the Telephone Company for the same period of time. Another Uncle retired from GM after 30 years. Every one of them talked about their company like it was an elder family member, someone they could trust, someone they looked up to and could count on.
The year my Dad retired from the Light Company, the big wigs sold the company to an overseas interest. He got out just in time. They looted the pension fund and all of Dad’s working class buddies lost 60-70% of their pension funds.
The big corporations that American workers have counted on, trusted, negotiated with and partnered with over the last century are in serious trouble. They are reinventing themselves in order to stay afloat and in doing that. They are often sacrificing the “little guy.” Their loyal workers.
Don’t get me wrong. I’m not against a corporation making money. I’m not against business looking out for its own interests. Although what they seem to think of as their best interests and what I consider their best interests often conflict. Ethics should still count for something. But the point I’m getting to is that you can’t count on a corporation to keep your job and employ you throughout your working life. Those days are gone.
“Job Stability” has become an oxymoron kind of like what George Carlin said about “Military Intelligence.” The two words just don’t go together.
The very nature of a job means that someone other than you is responsible for you having income. If they decide you are no longer relevant to their needs, you lose that job – regardless of how loyal you are, how hard you work or how many late hours you put in.
This is why I believe it is always safer and more stable to be an entrepreneur – to run your own business. You’ve probably been told by those you know and love (who have jobs) that you need a skill you can fall back on that will land you a well paying job if what you dream about doesn’t work out. They’ll say you need a good education so you can get a good job. They’ll tell you that you need a polished resume and a nice pair of shoes if you want to land that coveted job.
I hate to say this about the ones you love, but they don’t know what they are talking about.
A job is just another way of saying, “I’m going to be satisfied with making a particular income all my life, taking tiny incremental raises over the years and being told what to do by my “superiors.”
We’ve been told our entire life that you should trade income for stability. A good safe, stable job is what you want, right? But since job stability is a myth, what are you really trading? You are trading away your hopes, your dreams, your opportunity for success and wealth, your opportunity to do the things you love to do for a promise that cannot and will not be fulfilled.
Job Stability Is A Lie
Everyone says that being an entrepreneur is way to risky. What if things don’t work out? What if you screw it up, what if you lose your income or the market crashes or you get sued? But don’t all those things happen to people in the workplace too? And when they happen in the workplace, it’s usually because someone ELSE decided they would happen to you rather than YOU being in charge.
If things are going to go down, I want to be responsible for it. I want to be the one who screwed up. I want to be holding onto the reins of the horse that is out of control trying to get it to calm down rather than being in the wagon that is being pulled willynilly behind, completely out of control. I expect bad things to happen, but I also expect to be able to limit my losses because I’m making the decisions that determine when and how they can happen.
On the other hand – I also want to be in control of my potential for growth. When you look at the facts the difference between wealthy people and regular folks is that regular folks have jobs while wealthy people have businesses. Do you know ANY wealthy people who don’t have a business? I don’t.
You also hear about rich people AND regular working people going bankrupt. It happens to both groups. But when a rich person goes broke, they usually don’t have a substantial change to their lifestyle. They may have to give up that yacht or the summer home in Greece, but they have knowledge and contacts and get back on their feet very quickly.
When everything crashed for me back in ’91, I was back to a six figure income within 6 months… that was a lot less than I had been making, but I knew how to get there and within a couple years, I was very close to where I’d been before.
On the other hand, when a working person loses their job and there are no more jobs to be found anywhere. When they file bankruptcy and get evicted from their home. When they put their resume out to hundreds of companies who all say “sorry.”
When this happens to a working stiff, they end up living in their car. They don’t have the knowledge or the contacts or the experience to get back on their feet and start running again. They stand in line at the unemployment office and go to the food bank to get food and clothes for their kids, they sleep in their cars and in shelters.
This isn’t just happening to the desperately poor, it’s happening to working people all over the country who have lost their job and can’t figure out a way to solve the problem.
My Grandpa (who was not a wealthy man – just a man with job stability) said, “There’s no shame in being poor, it’s just damned inconvenient.”
And my follow up to that, “There’s no reason to be poor or a slave to a job if you will learn the things you need to know to create a stable, income producing business that will serve you the rest of your life.”
Once you understand how to do it, you can duplicate this success over and over and over again and do ANYTHING you choose with your life.
Don’t let the misguided opinions about the right and wrong way to do things cloud your vision of what your life can be.
End unemployment forever – become an entrepreneur. ‘