Achieving Financial Security - By Selling Your Soul!
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Man, I'd sell my soul for a fiddling flake of that financial security! Okay, I'yard being hyperbolic – I wouldn't literally sell my soul for fiscal security. Probably. But I, similar most people, would sell everything else that makes me – well me. Hell, that'due south what I do every day. I sell my time, my free energy, the best years of my life -simply for the chance of achieving financial security. And yous do also, don't y'all?
What is Financial Security?
Financial Security is having enough money to fund your life and to experience safe and secure in knowing that yous won't get destitute. It'due south well-nigh achieving your financial goals. In my stance, information technology's more almost the safety cyberspace than the money. People making less than 40K per year tin feel financially secure while people making over 100k per year can feel like they are teetering on the brink of disaster.
Having fiscal security is feeling skilful about your financial situation. Its knowing that you are going to be ok, that yous will have a home to live in and nutrient to eat.
Why is Financial Security Important?
Why do nosotros slave our lives away for this? Well, because it'due south important. Incredibly important really. Financial security gives us breathing room. Information technology makes us feel comfy in our lives. It's a basic component of Maslow's bureaucracy of needs of needs for a reason.
Maslow's Bureaucracy of Needs
What a corking segue into a fun psychological concept! Maslow's hierarchy is a graphic that illustrates things humans need in pyramid form. The main premise is that you have to meet the needs of one layer before you tin can focus on the needs of the side by side layer.
The bottom of the pyramid has our basic needs – food, shelter, etc. Nosotros literally need those things on a daily basis to survive. This is office of where the scarcity mindset comes from – how tin anyone call back most family, career, or home ownership when they tin can't even feed themselves?
Level two of the pyramid is safety and security. After your bones needs are met, yous want to ensure that they volition continue to be met, right? And that's where financial security comes into play. The third, fourth and fifth levels – family, relationships, condition, accomplishment, cocky- actualization – none of those things are possible to consider if you don't take security. Information technology's one level up from a basic need.
How to Achieve Financial Security
Did y'all come across the championship? Clearly the only style to reach fiscal security is by selling your soul. I jest – but it tin can feel that way sometimes. We have to requite the best years of our life to a visitor that doesn't really care nigh us in order to barely make it to that second level of human needs. Only nosotros gotta practise what we gotta practice, correct?
Achieving financial security used to exist elementary. Get a job, work until retirement, collect your pension and social security – done. The globe doesn't work that way anymore. Less than a quarter of workers even accept admission to a pension, and the time when y'all and a visitor would take intendance of each other is long gone. Now, it'southward all virtually maximizing profits. If a company can increase its margins past fifty-fifty a hair by eliminating your position, they volition do so in a heartbeat. And then how do we achieve financial security in a earth where jobs aren't secure?
Achieving Financial Security in a World Where Jobs aren't Secure
In social club to accomplish fiscal security, you accept to look out for yourself. A company will never have your best interests at heart. So yous have to play their game, but with your ain personal goals in mind. At that place are multiple things you lot can practice to get at that place; it'due south not a one size fits all arroyo.
Amend Your Skills
The one-time advice of doing the all-time you tin can at piece of work to make yourself indispensable is still true to a point – you lot practice want to do a good job in any position y'all are in. But you shouldn't have that so far as to allow yourself get taken reward of. No one is indispensable, just if a company thinks they can corruption y'all until they dispose of you, they will.
Instead, focus on improving your skills, so that if the visitor does go toxic, or if downsizing is in the hereafter, you volition be able to transition to a new position adequately easily. You can do this past volunteering for projects in other departments, taking courses, and even freelancing.
Always Look for Opportunities
Another way to ensure your own financial security is by e'er beingness on the lookout for opportunities. If a company isn't going to exist loyal to you, why should yous bother beingness loyal to them? Now, I'k not saying to engage in selling trade secrets or any other shady beliefs, but you should definitely go on your resume and linked in profiles up to appointment and network whenever yous accept the opportunity. You never know when you volition need these things.
Spend Less than you Earn
Even if y'all are indispensable and accept the most amazing skills of anyone ever, in that location may come up a time where you lot find yourself unemployed for a menstruum. The best way to maintain fiscal security during that time is to prepare for it beforehand. And that means spending less money than you lot earn while yous are making money.
When you spend less than you earn, you will be able to put money aside for investments, emergencies, and debt repayment. It's important to get that emergency fund fully funded, then that you tin maintain your financial security even if y'all do lose your job.
Take Multiple Income Streams
The one-time way of relying on one job to support you throughout your life is conspicuously over. You lot can mitigate this by having multiple sources of income. There are and then many things that you can exercise to pick up some money on the side and ensure your ain financial security: invest, house hack, selection up a side hustle, start a business organization…the list goes on and on.
The gig economic system isn't ideal for long term stability, but having something as a redundancy will definitely help y'all maintain your financial security regardless of what happens in your labor market place.
Vote
This is something that's not usually discussed on financial websites – just the best thing that you can do to ensure your financial security and the financial security of your community is to vote. Vote for candidates that will implement policies that assist existent people rather than corporations. Vote for policies that will amend your overall financial well-existence. People say finance isn't political, but in reality, it's all nigh coin. Politics dictate which programs get funding and which don't. Then make sure y'all vote for the programs that matter to you.
Is it All Worth information technology?
This is the question I struggle with every day. Is information technology worth it to sell your soul, your life, your time, everything y'all are to a corporation to get this financial security that we all need? Well – yeah. We need to survive, don't we? And this is the world we live in right now.
What Are the Other Options?
That's not to say there aren't any other options. I call up that this horrible organisation is why the financial independence movement has gained so much traction. People don't want to have to sell their souls for financial security. They want to live their lives, so they're doing what they have to for a curt fourth dimension to purchase the security that they need. It's selling your soul for a shorter menses of fourth dimension.
You could likewise attempt to opt out entirely and live off the grid, but even that requires the financial security of starting time-up coin. Nonetheless, my sister is working on simply that, and she'due south happier than she's ever been. We don't need to stay trapped in a organisation that isn't working for us. In that location is an out for you that will still ensure your fiscal security – you only have to find it!
Source: https://partnersinfire.com/finance/financial-security/
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