I’m gleaning a lot of insight from this book and several aha moments only a few chapters in. One of them involves job security which I’ve watched evolve over the course of my lifetime. One of my grandfathers worked for Bell Telephone for most of his life. He retired and is still living off his pension and money he saved. He had probably what I would call real job security in the fact that he spent his career with this one company and they completely took care of his golden years.
My father retired from the air force to come home to help his father in the oil field business. Grandpa had his own businesses. There were 3 separate entities. One was a corporation and they had several drilling rigs. One was for drilling water wells and the other was also oil field related. I worked there several summers in my youth doing whatever they needed me to do. In the nineties, I watched their business struggle like many were. I watched lifetime friends of the family having to be let go because they couldn’t afford to pay anyone extra. It was heartwrenching to us and to my Dad and grandfather. Finally they had to close the doors for good.
My Dad took several courses and did some related work and is now doing oil field consulting. However, it was very difficult for a while until the dust settled.
Companies have evolved over the course of the last ten to fifteen years. It is now the exception, rather than the norm for someone to work at the same company for ten years or more. Benefits have also evolved and in many cases end up with more being paid out for less. Retirement plans for many are out of reach and people work more than one job just to make ends meet if they are lucky.
Companies nowadays are bottom line oriented. They have to be to stay competitive. Currently with a workforce that has many experienced people vying for a small amount of jobs, competition is fierce. It is tough to get employed, then most hang on for dear life fearing if they try to move to something else they will be back on the unemployment line.
Carrie put it so well in her book that I had to share it with you. The following statements offer much clarity on exactly what Job Security looks like in today’s market. “Tooth Fairy, Santa Claus, Easter Bunny, and Job Security all fall into the same category. They just don’t exist. They’re fun to think about and easy to believe in, but when the truth finally comes out—and it always does—there is a sinking feeling and wondering why ‘no one told me this before’.”
So, I’m telling you now so you don’t have to say that no one told you. The simple fact is that no one wants to talk about it. It’s a scary thing to discuss. No one wants to admit that they secretly fear they will be unemployed tomorrow. This puts most of us in a fantasyland that then becomes shell shock when the layoff occurs. Some are lucky and get to work for an extended period of time, however I’d say they are the few and leading a charmed life indeed.
So how do you combat this farce of Job Security? Well you can moonlight and use skills and talents as a second income. All of us have unique skills that are marketable. You can work a second job to pay off debt or sock it away in savings or for retirement to make your own security blanket. You can start a Plan B type side business which offers many tax advantages and income to sock away however you see fit. So depending on what fits your personality and situation best, there are options that exist to insulate you from any type of disaster befalling you or your family.
It is tough to face reality for most of us, however it is truly the smartest thing you can do. Take off the colored glasses and realize the truth, no one’s job is safe now. If you need help figuring out what’s best for you, do some research. There are many resources out there to use. Always read the fine print and make sure that you have a good rapport with a mentor to keep you going when times get tough. You deserve to recession proof your life so you have the peace of mind if something doesn’t go according to plan.
We specialize in helping people with Plan B income flexibly around their busy schedule. We will be glad to Pay It Forward and share what we are doing with you free of charge. You deserve the facts and then it’s up to you to make a decision whether it fits your lifestyle and situation.