What if I lost my job?
“I was laid off earlier this week and I was just shocked. I have never been unemployed let alone laid off, fired or whatever you want to call it. I just worked so hard and for so long for this company. I did not see this coming. I was doing well and I thought I was a valued employee or at least I use to be.”
Have you ever stopped and considered your heartfelt response to this question?
Imagine if tomorrow – or your next day at work – you go into your workplace only to find a pink slip waiting for you. Maybe your employer is downsizing. Maybe you have made a big mistake recently and it had caught up to you.
Whatever it is, your job is no longer yours. You have 15 minutes to clean out your desk and half an hour at HR to sign some papers. Then you’re out on the street.
What now? What do you do?
As with most big fears in life, an unexpected job loss can be made much more tolerable by having an appropriate strategy and plan in place beforehand.
The reality is that people don’t plan to fail and lose their jobs. They just fail to plan for the inevitable. It’s not a question of IF, but WHEN.
Anticipating the future and putting in place the right strategies and plans now will future-proof your job and protect your income. You do so because of the increasing likelihood of impacts from the changing world of work, economics, and technological innovation.
Failure to plan for the future will expose anyone to desperation, stress, and worry. “I have no job and I am depressed,” “I’m unemployed, what should I do,” “I don’t have a job and I need money,” and “I am jobless what can I do” are just some of the common responses.
Don’t be walking blindfolded. The more you know about what’s happening around you and in the world, the more you are able to appreciate and plan for up to 135 workplace challenges.
Always keep updated about information on key drivers or causes shaping the economy, work, careers, and employment in the part of the world that you live in. With the right information, you should be able to make informed decisions and implement the appropriate strategies to suit your own circumstances.
It is important that you don’t rely on your government or employer to make choices for you. We all need to mind our own business when it comes to our own jobs and income.
The best investment is in yourself, in your education, and in your awareness of the future. In particular, invest in your financial literacy.
A message to all procrastinators
If you want to end successfully, you must make a start, step-by-step, brick-by-brick. Making small gains and successes will be vital for everyone so that they do not give up on the journey to success.
Making a start can be difficult. I have been there. It takes a lot of commitment, energy, and courage.
Unfortunately, for 97% of people, “later” almost never comes. The easiest way is to postpone things; to put it off until a later time. As time goes by, “later” will never eventuate.
If you’re like me and guilty of a little procrastination from time-to-time, then you’re not alone. Many would-be action takers love the idea of financial independence or financial freedom. But for whatever reason, they struggle to get out of the starting block.
They are unable to take the required actions needed.
Procrastinators lack inspiration or motivation to move to a better destination. They are “fixed-financially” (rooted in their current situation) rather than being “financially-fixed” (become financially free).
Procrastination can be caused by not knowing how to act, not being willing nor able to consistently take necessary risks and unwilling to make sacrifices and commitments.
One of the key reasons why people fail to even start is because they have no end in mind. There’s no compelling reason to begin in the first place.
Finding your WHY will give you everything you need and want. It will motivate you in preparing for the future.
We need smart ways to thrive in the future
It is a given fact that by 2030, jobs, demographics, and economies will change.
Anticipating these inevitable changes will require answers to these key questions:
1. How can I future-proof my job and increase my job security?
2. How can I increase my income?
3. How can I preserve my wealth and income streams?
Future-proofing jobs are the process of understanding and anticipating the future and minimizing the effects of shocks and stresses of potential future events on jobs, careers, and employment using appropriate strategies and plans that are tailored to individual circumstances and personalities.
Given that there are limits as to how much money employees can earn from their jobs, employees have to mind their own business and find innovative ways to increase their incomes by taking on second or third jobs, doing freelancing or starting side businesses. The additional income will help them invest in growth assets like real estate so that they can generate passive income into the future and during retirement.
After future-proofing jobs and increasing incomes, employees must protect their income and income streams from the impact of potential job losses, unexpected expenses, and economic downturns. While some people can rely on government benefits as a safety net if they experience a sudden loss of income, for many the drop in their income level will be too severe to maintain their existing standard of living.