Wealth Tip - The Future of the Job Market

Greetings Insider:

On Sunday 1/25/09, TV news program 60 Minutes revealed what we've been saying here at Insiders Group for many months now - the days of the 9 to 5 job are going extinct. To briefly summarize, 60 Minutes correspondents visited Wilmington, a picturesque all-American Ohio town of 12,000 people, the majority of whom – 8,000 – worked at DHL, the German-based shipping company that arrived in the town in 2003 when they merged with Airborne Express.

Because of a stormy start with the merger, and then last fall's beginning of the economic collapse, DHL began losing $6 million in the US daily and made the announcement that US domestic shipping would end. Thus, they started laying off people in droves. Wilmington's woes mirrored reports this past week that new claims for unemployment benefits are the highest in 26 years.

My heart goes out to those people, and for the millions of others, who relied on their jobs to put food on their tables, pay their children's school tuition, and everything else it takes to survive, however you can avoid a similar fate if you follow the same simple tips we've been teaching all of our workshop attendees and Insiders Group members for years now…

You need to create your own sources of income!

As evidenced in the news piece and by the cries of your family, friends and neighbors – there is no such thing as job security. It simply doesn't exist. Gone are the days when you could graduate high school and work at the local factory or mill or go to college and manage that plant or mill until you were ready for retirement 40 years later. Being a life-long employee in a company just isn't realistic anymore. Those days are gone forever!

Companies are scaling down to little skeleton crews and will higher specialists (independent contractors) on a job by job basis. It allows a company to reduce its operating costs and maintain a higher profit margin as opposed to keeping a full time staff that would require union wages, sick leave, vacation time, payroll taxes and health benefits.

This means that in order to have steady income you must retrain and repackage yourself as an independent contractor that moves from company to company offering your specialized knowledge at a price. Independent contractors can perform specific functions for a company ranging from, telemarketing to advertising manager to electrician, and sign an independent contractor agreement specifying the range of time they'll be working with the company and how and when they are compensated. You become a highly-valued specialist and the very thing most people only dream of... your own boss.

The other, more risky, but potentially more profitable proposition is to start your own business. Doing the research to find a profitable niche, the ideal places to market and sell your product or service and finding the right people for your team is critical to your success.

Starting your own business or becoming an independent contractor is not a simple task to accomplish. However, neither is getting up to go to work and having other people dictate your agenda, your meal breaks, what time you'll go home, and then leaving feeling under-appreciated and realizing you can get axed at anytime.

Weigh your options, start doing the research, and make something happen. Your future depends on it.

SUCCESS!!!!
Heru Ur Nekhet
Taking Ordinary People From Rags to Riches