Time = Money. Money = Time

Like many others I have money invested in the market. Fortunately, my financial planner knows what he is doing. When the market collapsed a couple of years ago, the portfolio of many people I know were 30-40% down whereas I was down around 10%. With the more recent issues in the market, again my losses are limited...he saw something coming and made sure my portfolio was protected as much as possible.

I don't know a lot (if anything) about investing, but what I do know is that it is important to diversify. Pretty much everyone knows that a smart investor diversifies, hedges his/her bets, spreads the risk, whatever you want to call it.

When my father, and his before him, started working the plan was to find a solid, respectable employer and to work there until retirement. It probably made sense at the time, but does it still? In those times, there was mutual loyalty...the employer was grateful to have people work for them for many years. I remember my dad getting a golden watch after working for the same company for 25 years, so did his dad after his 50 years with the company he worked for. Times have changed though... very few people stay with the same employer for more than 5 years on average. Gone are the days of employer-employee loyalty.

Earlier this week, yet another large corporation announced over 13,000 layoffs because of the economic environment. I'm still in awe over the 52,000 people layoffs at a large financial services firm late last year and these represent just the tip of the iceberg. Fact is, that nowadays the bottom-line, the margin, the EPS of a company is what it is about. So if a company can improve any of these measures by eliminating a few more employees, it will. It simply is how the market works... oh, and did I mention that the compensation a lot of these corporate executives is actually tied to these measures?

It is not my intention to suggest that none of these layoffs weren't necessary for the company's survival, nor that the leaders of these companies only look after their own interests....but, are we sure that they didn't take advantage of the situation and took this as an opportunity to let a few (thousand) extra employees go?
My point is, that for as long as I have been in the corporate world, I've not seen such a thing as a secure job. So...

Earlier on, we've agreed that when investing money that makes sense to diversify. To set up returns from multiple sources. We've all heard the phrase "Time = money". So, if we do that we'd have

"...when investing time, it makes sense to diversify and set up returns from multiple sources."

It makes sense to spread the risk when we invest our money AND it also makes sense to have multiple streams of income. Do you have an alternative source of income?

However, it is not realistic to have multiple jobs AND to have a family-first lifestyle. I would suggest you seriously consider starting a home-based business alongside of your current job that allows you to start building up an alternative stream of income. You can do this from home, after the kids have gone to bed so you don't have to miss out of quality time with them. You CAN do both...

Every business takes time to built so take action today! Take control of your financial future and your life. Living with the fear of losing a job has a significant impact on you, your relationships, your family and your happiness.


Leon

"If you want the same results, keep doing the same things. If you want different results, do something different."