I’m
reminded of the old saying “we can’t choose where and when we are born, but we
can choose how we live.”
There
has always been unemployment and individual suffering throughout the globe –
but in the late 20th Century there was a time when life-time
employment was offered by many organisations, and though this didn’t offer
luxury, it offered a form of personal security. Maybe because of the suffering
most countries endured during the World Wars and the need to rebuild, there was
a conscious selflessness at the time to build a ‘home’ economy that would
support the masses. Even more interesting is that two of the best economies to
emerge from WWII weren’t from the victors but from the vanquished, i.e. Germany
and Japan.
The
recent global financial crisis has affected everyone and has forced many
countries, businesses and individuals to re-assess how they view their futures.
We will all know of people who have lost their jobs, know of people who are
still struggling to find work and will have seen our disposable income decline.
So what can we learn from these recent events?
Probably
the most important lesson is something we all know, but seem to be bad at
‘owning’ when things go bad – and that is that economies and businesses operate
in cycles. Just as products have life-cycles so do economies, businesses and
ultimately (and obviously) so do we.
Planning
for the future involves planning your career, it involves planning your
financial security and always having a plan b, c, and d. There will already be
a huff and a puff from some, who will highlight that you have to have a good
job before you can even consider thinking of financial security – since when
you are living from hand-to-mouth, financial security is just a dream rather
than a reality.
But
I would challenge that thinking – self-fulfilling prophecies will never
disappoint and if you believe that you can never get out of your ‘hole’ –
whether that’s being trapped in a job, or trapped in a low-income, higher expenditure
cycle, then you won’t get out. But that doesn’t mean you’ve made the right
decision.
Futures
are defined by opportunity and attitude. Opportunities will always present
themselves – but not necessarily when you want them too. You just have to be
open to both seeing opportunities and creating your own opportunities. We’re
not talking about million dollar deals – just opportunities to advance your
career and your financial earnings.
Attitude
is part nature and part nurture. If you’re born into a family that doesn’t
believe there is any hope to succeed at anything – when it’s unlikely you will,
at least until you’re old enough and hopefully strong enough to challenge that
hypothesis – though sadly for many, by the time they are old enough to challenge
the negative thinking, it is way too late to do anything.
For
those born into this group, it’s up to you to stop the cycle and give your kids
hope and ambition to move up and out of the cycle of despair. There are plenty
of success stories around the globe, but ‘future success’ needs to be driven
from the parents at the child’s early stage of development when beliefs are
being formed.
For
the rest, you have to realise that a career is a journey and quite a long
journey. It is highly unlikely that it will develop as quickly as you would
like and you need to be prepared for ups and downs – never losing sight of your
own personal career goals. As soon as you give up on your future, then don’t
expect anything more than what you have – until you reignite the ‘fire’ and
find that positive attitude that will drive you forward.
Careers
are not easy and have to be constantly worked at. Even in the large
multi-nationals where promotion after so many years is often guaranteed, you
still have to work hard and identify and create opportunities that can
fast-track your dreams.
Finally,
I remember my Mother telling me when I was around 8 years old that my aim in
life should be to save enough to be able to live off the interest – but with
global interest rates being so low, being able to save enough to live off the
interest is an impossibility, expect for a very, very few who can earn
mega-millions within certain professions. So building a solid financial
foundation that you can build your life and retirement on becomes a core
personal goal – best developed when you are young and worst started today. So planning
your career should go hand-in hand with a solid financial plan in order to make
the most of life and minimise the need to struggle when times get tough.
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