Some people (a precious few, so far) are realizing that this temporary recession is the best opportunity that they've ever had. They're working harder than ever -- mentally -- and taking all sorts of emotional and personal risks that are bound to pay off.
- Seth Godin
Wonderful quote. Is it true?
With recession, I see more people rethinking risk and dwelling on mistakes ("I should have opted for that 30-year fixed loan and avoided that ARM!"*).
(Or "I should have stayed with that big stable company in avoided the layoff I just went through!" - DotCom employee, circa 2001.)
But the risk is worth it. It is knowing when the risk is risky and dangerous vs. being rewarding with possibility. It is a hard.
But the risk is worth it.
I am a big believer in part-time risk. Build that website at nights and on weekends. Build an audience. Fill a niche. Find a buyer.
If it fails, try again. Try two or three opportunities at a time. Try, fail, try again.
Keep your day job. Work hard to leave it.
Risk is worth it. Stagnation is death.
Happy hunting.
* The ARM loan is worth it if you take advantage of the 3, 5 or 10 year term and pay down the principal.
Blogroll Me!
Tuesday
Marketing Me! When is retirement? 56!
I was reading a publication for seniors over the weekend. The featured article was about companies who have curtailed or canceled retirement health plans. Unfortunately, companies which either underfunded their health care plans or have had financial setbacks are cutting back on retirees.
Noted was a retired employee of a Fortune 100 company who was upset that his retiree health plan premiums could potentially increase several hundred dollars. But here's the rub: The retired employee was 56 years old.
56.
Where has this guy been the last 25 years!
Nobody retires at 56 unless they are a professional athlete or have won the lottery.
At 56, a retiree is realistically facing 25 years of retirement. Figure how much you would need to live on for 25 years. I won't even through out any numbers because the cost of retirement in Boston, Mass is far different than that of Beaumont, Texas.
With 25 extended years on a fixed income and savings would have me worrying about my health care premium after I figured out "What will I be eating if I get to eat, and where will I live?".
56.
Who sold this guy the dream he could retire at 56 and would be financially comfortable not to worry about his cost of living increasing? Ask any financial planner and unless one is sitting on a considerable nest egg with zero debt, retiring at 56 would be a no-brainer. It ain't gonna happen!
Consider for instance expected cost increases such as taxes (on property, against social security payments, interest on savings, etc.), food, gasoline and utilities. And now consider the possibility of debilitating illness or injury such as a broken hip. 56 seems like the beginning of a long road towards uncertainty.
By the time I am 56, I most likely will be working for my 20th company or more. And with the state of pension plans, Social "Security" and health insurance, I actually expect be working at 66, 76 and possibly 86 if at all possible.
Once upon a time (1900), the life expectancy of a man was 54 years of age in the U.S. 56 would be considered old age and possibly a suitable time for one to relax and enjoy a few precious months with loved ones and friends.
But this is 2007, not 1907.
The rules changed 25 years ago. Maybe longer, but unlikely more recently.
56 is not the time to retire, but the time to start that second or third career.
I believe a person has so much potential and there are so many great opportunities that is almost seems like a crime to give up and retire at such a young age. Even at the ripe old age of 56.
Happy hunting!
Blogroll Me!
Noted was a retired employee of a Fortune 100 company who was upset that his retiree health plan premiums could potentially increase several hundred dollars. But here's the rub: The retired employee was 56 years old.
56.
Where has this guy been the last 25 years!
Nobody retires at 56 unless they are a professional athlete or have won the lottery.
At 56, a retiree is realistically facing 25 years of retirement. Figure how much you would need to live on for 25 years. I won't even through out any numbers because the cost of retirement in Boston, Mass is far different than that of Beaumont, Texas.
With 25 extended years on a fixed income and savings would have me worrying about my health care premium after I figured out "What will I be eating if I get to eat, and where will I live?".
56.
Who sold this guy the dream he could retire at 56 and would be financially comfortable not to worry about his cost of living increasing? Ask any financial planner and unless one is sitting on a considerable nest egg with zero debt, retiring at 56 would be a no-brainer. It ain't gonna happen!
Consider for instance expected cost increases such as taxes (on property, against social security payments, interest on savings, etc.), food, gasoline and utilities. And now consider the possibility of debilitating illness or injury such as a broken hip. 56 seems like the beginning of a long road towards uncertainty.
By the time I am 56, I most likely will be working for my 20th company or more. And with the state of pension plans, Social "Security" and health insurance, I actually expect be working at 66, 76 and possibly 86 if at all possible.
Once upon a time (1900), the life expectancy of a man was 54 years of age in the U.S. 56 would be considered old age and possibly a suitable time for one to relax and enjoy a few precious months with loved ones and friends.
But this is 2007, not 1907.
The rules changed 25 years ago. Maybe longer, but unlikely more recently.
56 is not the time to retire, but the time to start that second or third career.
I believe a person has so much potential and there are so many great opportunities that is almost seems like a crime to give up and retire at such a young age. Even at the ripe old age of 56.
Happy hunting!
Blogroll Me!
Marketing Me! Labor Day
Here in the U.S., we celebrated Labor Day yesterday. Labor Day has its roots from a little over a hundred years ago when several labor groups (read industrial and agricultural organizations) petitioned for a annual holiday to celebrate their contributions to the American way of life.
All fine and dandy, but the reality of life in the 21st century is the concept of "labor" has changed since its' Victorian age introduction.
Statistics have show that industrial and agricultural occupations have shrunk in recent years whereas office based work has grown.
Even more important, is the explosion of non-full time and non-permanent workers in our modern economy. Contractors, part-timers, temp workers and consultants are filling more and more open slots.
Opponents argue that these non-traditional employees are either victims of evil corporations (for failing to provide them benefits, insurance, etc.) OR the enemy (for taking away positions which historically would have gone to full time workers).
Regardless, the argument overlooks a few international trends...
The cost of full time employees, for any number of reasons, has grown. Many employers have opted out of the traditional management/labor template spelled out over the past hundred years.
The employment border is broken. One hundred years ago, employee availability was limited to walking distance from a central operation. Today, an employee for a New York based company might be in Bozeman, Montana or Bangalore, India.
Income Evolution
At Marketing Me! we do not play the game of what's right or wrong. We play the game of income evolution. We go where the money is. If it is full time work today, it may be part time work three years from now. Or contract work. Or consulting.
The opportunity to make income from work means evolving with the market place and work trends in order to maximize our ability to profit from a changing and expanding market.
Ability Security
What matters in income growth is ability security. There are no more "secure" jobs. Only secure abilities. The skills and adaptability to earn money for our employers combined with personal branding and marketing guarantees us the security of moving to greener pastures constantly.
I hope you had fun with the traditional Labor Day festivities yesterday. An extra day off, maybe a fun activity with family and friends.
However, the historical basis of Labor Day has changed forever. Start planning your own Marketing Me! Day instead!
Happy hunting!
Blogroll Me!
All fine and dandy, but the reality of life in the 21st century is the concept of "labor" has changed since its' Victorian age introduction.
Statistics have show that industrial and agricultural occupations have shrunk in recent years whereas office based work has grown.
Even more important, is the explosion of non-full time and non-permanent workers in our modern economy. Contractors, part-timers, temp workers and consultants are filling more and more open slots.
Opponents argue that these non-traditional employees are either victims of evil corporations (for failing to provide them benefits, insurance, etc.) OR the enemy (for taking away positions which historically would have gone to full time workers).
Regardless, the argument overlooks a few international trends...
The cost of full time employees, for any number of reasons, has grown. Many employers have opted out of the traditional management/labor template spelled out over the past hundred years.
The employment border is broken. One hundred years ago, employee availability was limited to walking distance from a central operation. Today, an employee for a New York based company might be in Bozeman, Montana or Bangalore, India.
Income Evolution
At Marketing Me! we do not play the game of what's right or wrong. We play the game of income evolution. We go where the money is. If it is full time work today, it may be part time work three years from now. Or contract work. Or consulting.
The opportunity to make income from work means evolving with the market place and work trends in order to maximize our ability to profit from a changing and expanding market.
Ability Security
What matters in income growth is ability security. There are no more "secure" jobs. Only secure abilities. The skills and adaptability to earn money for our employers combined with personal branding and marketing guarantees us the security of moving to greener pastures constantly.
I hope you had fun with the traditional Labor Day festivities yesterday. An extra day off, maybe a fun activity with family and friends.
However, the historical basis of Labor Day has changed forever. Start planning your own Marketing Me! Day instead!
Happy hunting!
Blogroll Me!
Subscribe to:
Posts (Atom)
Posts
http://www.mybloglog.com/buzz/join_comm.php?ref_id=2007011113293225