Last night after work you got together with two of your buddies from college. Over a nice dinner you talked about the good times – a weekend road trip to the coast, intramural football, and even staying up all night to get that paper on the national debt complete. It was good fun and a good financial education in the field of business. It doesn’t seem like it was almost twenty years ago. Twenty years. All three of you found good solid careers, and have spent the time making contacts and getting comfortable in the business world. The well-dressed confident men across the table from you look exactly the same as, and yet a world apart from, the guys in T-shirts that you shared an apartment with in college. As the night wore on, you could hear that they felt the same vague dissatisfaction. Nothing was wrong, yet none of you felt like you were having the success that you dreamed of in college.
Maybe it is time for more education, a personal financial education. You hear of people making a mark in one of the hot areas – adsense and internet marketing, ebay stores, affiliate marketing, direct sales etc. You know that you have the ability to join that group, but also know that every business market has dangers. In order to gain confidence, you need a mentor to give you a strong financial education in the principles of launching a new business. Someone that has not only founded a successful business but is able to give you tools to make the right decisions for your personal goals and abilities.
Getting together with your friends made you think of the first six months after graduation from college. You already had accepted a job, and so you got a better place to live, a new car, and a new wardrobe to go along with your new status as a working man. A solid financial education would have been a help then, as that new status ran up a lot of debts. Your salary is certainly good enough to cover those, but imagine what you could have done if you had saved a few thousand dollars. Maybe that would have been enough to start your own home based business on the side.
Getting together with old friends made you realize that you have done well, certainly as well as most people with which you graduated. You have made a lot of good business contacts, and now that little voice inside is urging you to go on. Go on to a life you really want, with more success and time freedom than you can imagine.
Monday morning rolls around and you are back in the office bright and early, as always. You have always been a team player. Loyalty to the company and it ideals have brought you to where you are today. You feel proud, a sense of integrity. There is a knock on your office door. The VP of your department sent his secretary to summon you. He asks you to have a seat and proceeds to tell you that the company you have put your blood, sweat and tears into for the last handful of years, just dropped a stress bomb in your lap. They are merging with a competitor and your position will NOT be eliminated… this quarter… but next quarter your office becomes a telemarketing hub that will tie in with their offices in India. They are glad to have you assist with the transition, but they will not require your services in the long term. They feel that the industry has shifted and that this timing really fits their exit strategy well. They expect you can understand and even though the economy is in a slump, hope you are able to land on your feet.
What did they just say? They expect you will understand… land on your feet? You are now sweating. You are twisting your wedding ring unconsciously. You feel your throat tighten, and your mouth is dry… you feel light headed. Now you have zoned out and you cant even hear the rest of their conversation. All you can think of is the braces that you just put on your children and the 4-year payment plan. You have a luxury car that fits your posh position and makes you feel like a success. Yep, payments on that as well as the SUV your wife drives. You always intended to pay off your own student loans before now, but money was always going in other directions. You took out a second mortgage on the house, to help finance the cabin on the lake. You remember the bonus that helped you make the decision to make the cabin purchase… ugh… You wish you could just give that back to the bank and walk.
You are so stretched financially that you cannot think straight. You have to keep up the health insurance payments because your wife is having an MRI done, and health care costs are ridiculous. Can you even keep the company insurance? How does that even work and what happens when it runs out?
You are starting to come back to your senses. You are now feeling anger that is borderline rage. They cannot do this to you… you were not prepared. You have so much credit card debt that you have been bouncing from zero percent interest, to the next low interest deal. What do they jump the interest rates to if you miss your payments? You remember the horror stories of crazy interest rates like 29% that the guys were talking about at the office.
The door of the rest room slams into the waste paper can as you lunge into the stall. Breakfast, a raisin bagel and cream cheese, comes hurling toward the thrown. You are light headed again. Your eyes are closed so tight it hurts. You feel your head pounding and a ringing in the distance. Is that a fire alarm? No, but it is certainly an alarm. It makes you realize that you have a financial fire that requires an alarm to wake you up. You have been passing time in a financial house of cards and it is crashing around you.
You still hear that noise in the back ground… its almost like a beeping. A constant beeping that will not stop. Your eyes are still not open. You force them to open and at that same moment, your wife nudges you and says with a yawn… “honey, turn off the alarm”. You wake up from what was seemingly a nightmare. Your head clears, and you exhale. Reality sets in and you remember that you purchased a course on responsible financial management and long term investing 7 years ago. You built a financial portfolio over a 4-year period that is worth millions and were able to work from home assisting others as they struggle to avoid the same nightmare from which you just awoke.
As a reader of this story, how do you feel right now after having read this? Are you afraid it is too late for you? Do you even know what can be done in a short period of time? Consider this story your wake up call. The alarm is beeping… turn it off… once and for all.
Proper financial education is missing in our schools and universities. Financial responsibility is a vague term that we are unsure of how to talk about with our children anymore, because we are hypocrites ourselves. Credit card debt is overtaking the middle class and along with other factors will create a two-class economy. Which side of the street will you be on? Don’t doubt this reality, expect it and be prepared.
You have a legacy to build. Take Action and Create a Life by Design.
Greg Six has been a successful entrepreneur for over 15 years. After having owned motels and rental properties, he found success using internet marketing. He now spends his time assisting others as they search through the maze of internet offers to find the piece of the puzzle that is legitimate, and will ultimately allow an individual to create longstanding, stable wealth, without sacrificing integrity and honesty. http://www.LegitimateBusinessFromHome.net/?t=WP.nightmare
