Career Archives - MoneyWatch101

Working till Your 80 Years of Age

Hey Guys do you really want to work till your 80 years of age? I am speaking for myself when I say heck no, granted I will always do something as I age. But I foresee I’ll focus on working for myself as I age, and not for others. If people want or desire to work that long for others, it must be something they truly enjoy which equates to happiness. I provided an article below that states very convincing evidence, why those people like working so much and will continue way past their 70’s. Working till your 80 years of age is this the new Norm?

To me it seems like they don’t have enough hobbies to pass the time. If they really enjoyed working for their organizations and it wasn’t about the pay, would they do it for free? That is the million dollar question that was mistakenly not asked by the interviewees in the article below. It seems sad that one of them is working so much that she regrets not spending enough time with her grandchildren. Now that is a travesty for her and the bonding time her grandchild might need today. This is a judgment free zone, but she is clearly showing signs of regretting her work / life balance. If I could say anything to her I would say work part time, and go spend some time showing those kiddies some grandma fun filled activities.

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What to Know Before You Quit Your Job to Start a Business

Almost everyone has dreamed of giving up his or her 9 to 5 job at one point or another and becoming an entrepreneur. The idea of being your own boss, making your own rules, and not having to rely on someone else to earn a living is a compelling one to many people.

However, statistically speaking, most new businesses are doomed to failure. According to Bloomberg, as many as 80 percent of businesses crash and burn before they reach their first anniversary. In almost every case, the failure is due to poor planning. The truth is, owning a business isn’t all four-hour martini lunches and long weekends. The profits don’t just start flowing in because you aren’t working for someone else. Owning a business, and keeping it running successfully, requires commitment, planning, and more than a little sacrifice. If you’re willing and able to do what it takes, though, it is possible to build a thriving empire.

But before you hand in your two weeks’ notice and order your business cards, take a moment to consider some of the truths about working for yourself. While they shouldn’t deter you from pursuing your dreams, they should serve as a reminder of what you need to do before you start your own business.

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Retirement Your Way: Living the Small Business Dream

Living the small business dream

How many people do you know work at a job they hate, just for the paycheck? How many people, do you think, do this their entire life just because they want reliable income? What about you? Are you truly happy doing what you’re doing? If you’re like most people, you’re not happy. You long for something more – something better. You’re on the horizon of retirement, but this isn’t the end for you. No, you’ve got one good business in you. Here’s how to bring those dreams into reality.

Decide What You Really Want to Do

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The Recession Aftermath

All the media channels talk about the great recession on a daily basis, when they try to explain the current state of the economy. Should we cut or raise rates is being beaten with a stick by all the economists. I’ve heard Janet Yellens name at least a million times since she took the Chair of The Federal Reserve Bank. Now I want to talk about how the recession aftermath is still lingering and the economy is not as rosy as it may seem. Do you know that the labor market is still not doing particularly well, and many employers are padding their numbers in tactical ways? The housing market is better and people are supposedly buying again. Every time I hear the numbers I question what percentage of those new housing purchases are rich investors? In any event the recession has not fully gone away and I want all of you to get ready for a possible inflationary period to hit your wallet.

The recession aftermath is influencing major changes to corporate America, where blue chip companies are buying each other with reserve cash flow. The M& A markets are on fire in the past 2 years, and it is primarily due to all the extra cash these companies have on the side line just sitting on the bench. These companies are buying revenue instead of trying to grow revenue. What does that really mean for the average person? When a big company merges with another big company the first thing to happen is a reduction in jobs. They are eliminating more jobs without offshoring them, and nobody seems to bat an eye. To explain further, just recently Microsoft revealed it will reduce its workforce by 12K jobs, due to the merger they had with Nokia. On the drive in to work Fox Media placed a buy bid for Time Warner for 85 Billion dollars and a few seats on the board of Fox. What is the first thing they will do if this purchase gets approved? How many people can we skin? They call a reduction in jobs a corporate synergy to mask the real threat to America’s citizens. If the government keeps allowing these mergers and acquisitions to take place it will systematically reduce available labor positions by millions. When big companies get even bigger, they reduce operating costs, raise prices to justify the purchase of the smaller company, and monopolize the markets.

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Making Side Money as a Restaurant Server

Did you know that being a restaurant server can be a lucrative side job? The majority of people working in this field get paid measly hourly wages from the food establishments, but the people they serve provide them with tips that cover 90% of what they make from that job. Think about it, if you have a great personality and do not mind serving others then you can become a restaurant server as well. Many people who have worked in the food industry will dumb down the potential of what they make in a given night, but if you look at the numbers then you can clearly see that some of them are making some above average income.

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5 Steps to Securing a Career in the World of Finance

This is a guest post if you are interested in being featured on this site click here.

If you’re looking for a career in finance, it takes more than just desire to turn money matters into a lifelong profession. Whether it’s financial planning, accounting, or any fiscal necessity in between, today’s financial professionals must have the skills and experience to meet the demand of all things finance.

With money management in mind, the following five steps will help you secure a career in finance.

1. Educate Yourself

Breaking into the world of finance without a solid education is like trying to break into Fort Knox. Financial institutions in the world look for candidates who have a certain level of financial education. So, if you’re lacking in the collegiate department, don’t expect to get your foot in the door.

A bachelor’s degree is absolutely necessary, but that doesn’t mean you should stop there. Candidates with master’s degrees in finance are gaining more and more attention, but so are those candidates with diverse extracurricular activities like interning at financial planning firms or preparing tax returns.

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Making Side Money

Did you know that making side money can help you achieve money goals faster? I believe anybody can do it on a part time basis. Do you have some debt that you detest? Do you want to save up for a home down payment? Do you want to finally establish a business? The side money you can possibly make will help you attain the things you want if your cash flow is not sufficient enough. What are some of the things you can do to build up the savings? Well jobs are available if you are willing to serve others.

I know some of you are already fed up with working 40 hours a week and cannot even think it will be possible to fit in another 15-20 hours for a side money work. But I have done it in the past and I do not mind doing it again in the future. I try to find jobs that fit in with my personality and schedule. The pay does not have to be substantial, but it definitely is a factor that you must predetermine before you begin applying and accepting offers. I will offer you a few examples further in the post as to give you some ideas how to make side money. These side jobs should only be considered if you do not have over time opportunities in your day job or if you desire to do something different.

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The Layoff Generation

Hello the Layoff generation term came to me like the many other random ideas I get throughout the week. Many people I know including myself have been laid off at least once in their lives and I’m beginning to question are we the new layoff generation. The generation where a pink slip is always on the back of people’s minds and can come at a moments notice. Where is the loyalty company’s had back in the 80’s for its employees, or the security company’s provided employees in the 60’s? Back then it was the norm to work at a single employer for decades. Now we average about 10-12 jobs in our lifetimes. Leaving all of us to wonder what can we expect for our kids and grandkids careers? Will they be laid off twice as much as us or maybe three times the average.

I think work is becoming very much a make me a lot of money and I will not release you to acquire a cheaper faster younger version of you. This is just downright sad to slap millions with unemployment, during the worst recession in U.S. history, after giving all those years of hard work and effort. That will just make this generation feel abandoned, scolded, and guarded in the next job we get. “Corporate America is evolving and if you are not in line with our profits then move and get out-of-the-way they say.” Even the government has adopted the same policy and will cut people’s pay while adding a furlough period on top of it to save money. How about cutting all the bloat funds going to the military, before cutting federal employees’ salaries I say. I think common sense has taken a back seat to company’s bottom line. Loyalty was stuffed in time capsule back in the late 80’s never to be found. Enough is enough.

What can you do to avoid being victimized by the layoff experience? Take a proactive approach and learn as much as possible. Make your skills speak for themselves and make them want you by entertaining various offers every year from other companies. Go to college and get a profession that will give you a career you can control. Not even CEO’s who originally founded their companies are safe now days. Just ask the Groupon CEO, who recently got the boot with no severance. Imagine you build a great website with a million readers, make the company public, thus needing a board to police the CEO and the company, then getting fired from the company you started. That is just wrong, and should never be considered unless the CEO was abusing the company’s value and possibly hurting the bottom line.

Professional Careers that will help you beat the layoff pink slip:
Doctor – (Degrees and Certifications in the medical field)
Lawyer and Judges
Dentist
IT Professionals – (Learn all programming skills)
App Development – (Learn coding for application creation)
Registered Nurse
Police Officers with 5 years or more already served
Certified Financial Professional (Auditor, Treasury, Payroll, Tax, Comptroller)
Engineers with high credentials
High level School Administrator – (Principles, Superintendents)

These are just a few of the positions that will help you avoid the possibilities of being laid off. In addition to this you will have the skills necessary to be in demand anywhere in the US and possibly internationally. I hope you can see the difference between having a regular job and having a career like the ones I mentioned above. It will take hard work to achieve a career in these fields, but anything is possible. As long as you begin your journey in the right way and if you know early on in college what is it that you want to do will help a lot? Consistently building skills will eventually get you to achieve more and possibly save you from a future lay off.

Feedback from the Readers:

Comment if you feel we are the layoff generation?

Comment if you already are in one of these positions? How difficult was it to accomplish? Have you avoided being laid off?

Rich Uncle EL