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« Jewish Thoughts on Wealth: Extravagance and Frugality | Main | The Best of Money Carnival »

October 04, 2010

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I work for a large company that went through a 15% downsizing of their white collar workforce a couple of years ago. It was sad that most of those that were laid off were people as described in the article. They had been with the company an average of 15-20 years, hadn't updated their resumes ever, and they all assumed that they would have a job for life with the company. They were there for their pension. Sadly, most of them were too young when forced out to receive it.

I wonder if some of this is generational. My sense is that most of my friends & colleagues around my age (I'm 33) assume they'll be moving on from their current job at some point, and plan and act accordingly.

Something as simple as spending 15 minutes at the end of every workweek to update a spreadhseet of tasks/client/projects worked on is a huge help in being ready for anything.

I try to continually update my skills. Each time there is a refresher or a "new" way to do something, I'm on it. I don't want to become stale, b/c you never know when you need to ready for opportunity. I want to feel marketable regardless.

Your career - or perhaps more accurately, your marketable/income producing skill set - represents your your #1 asset.

Many people spend inordinate amounts of time searching for deals on groceries, clipping $0.25 off coupons, etc - and chasing small amounts of savings. I don't think it's necessarily a bad idea, but more importantly, it's important to have the mindset of maximizing your income minus expense gap.

The best way to do that, over the long-term, is to protect your income stream, and hopefully grow it. Focusing more time and energy in that direction, including time keeping your head in the game and eyes open, can pay greater dividends that other seemingly profitibale activities.

Network, talk to folks in other industries, get hooked up on Linkedin, read, and keep yourself healthy and organized.

Lurker here, finally posting.

I think I got all four of them (in a way).

The sad thing is, I got burned out in my job. I couldn't take the stress anymore. I decided to quit.

Looking back now, I realized I was too stressed out (both at home and at work) to make a really good decision. I had failed to see the warning signs (or perhaps, unconsciously ignored them), until I could no longer take the stress.

I know, it looks stupid. But I stayed too long at my last company. I'm still looking for a job right now, and hoping to be employed again before the year ends.

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