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You Are Your Own Bailout

12180619_thlWelcome to the new U.S. economy of bailouts.  Companies can plan horribly, not understand there financial situation, not understand the economy and the markets there in, and loose money like water out of a tap - no worry, they can get a bailout.

As the leaders of these companies, you can make poor decisions, lay people off, ruin peoples 401(k) accounts and share values, spend as you please - no worry you can get a bailout, and if you really screw it up you will still get a bonus.

The truly sad story is that there are far too many employees, retirees and college students that will not get a bailout - you are your own bailout.  I hate saying this, but we must take care of ourselves.  Counting on any company or any level of government appears to be a pretty risky venture.

I know that there are great companies out there, but the true test of great is when tough times hit.  What sacrifices are the owners, leaders, board of directors and managers willing to make to honor their commitments to employees?

I think this correction in our economy is a wake up call to everyone.  Make sure that you have your own bailout in order.  Here is a short list for creating your own bailout plan:

  • Do not spend more than you make
  • Do not try to "keep up with the Jones"
  • Make sure you can handle your debt even with loosing your key career or job
  • Save enough to cash flow your lifestyle for a year
  • Take a hard look at how you want to live once you retire - then make sure you stick to a plan. The minimum is on your own dime, above that can come from a company or the government.
  • Keep educating and training yourself - diversification is good for business and for individuals
  • Keep laughing and having some fun

Bailout - Start your own today!

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