By: Roshawn Watson
Do you want to know what scares me? It’s certainly not ghosts or goblins. Most likely you are already familiar with it. It’s called the Rat Race.
Job security is but an illusion in most cases, and pay checks are addictive.
Don’t lose sight of financial independence in favor of a shopping excursion to Neiman Marcus or even Best Buy. I was reading The Grouch’s account (link below in Personal Finance at Biz of Life) of getting fired after many years of faithful service to his company. It’s tragic and can happen to good, experienced, and educated people. I mention it because it is very important to be honest with ourselves. Don’t cling to safety that isn’t there. If the recent financial crisis has taught us anything, it is that there is no time like the present to do an autopsy on our finances to identify areas of weakness and ways for improvement.
Thought Questions: What Financial Demon Are You “Scared” Of?
Now, it’s time to do the weekly Uncommon Money News and Yakezie Round Up.
Uncommon Money News and Yakezie Round Up
In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!
To my readers: I am so honored by your support. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you: you are vital! Thank you sincerely.
Personal Finance (Yakezie and other PF bloggers)
My Experience With Unemployment at Biz Of Life – I said it before if you are an employee, “your only job security is your ability to get another job.” Read this all too familiar account (video included in post too).
Tax Avoidance Double Irish And Dutch Sandwiches at Everyday Tips and Thoughts – Kris discusses a business practice that allows Google to save billions. Also, here is a related link.
Saying Yes To Home Ownership at Beating The Index – Mich discusses his reasons for owning a own and refutes one commentator’s counterarguments.
The Economic Crisis Is The Best Thing That Happened To Us at Hope To Prosper – This interesting guest post challenges the conventional wisdom of passive index investing.
Roth Contributions versus Roth Investments Gains at Money Reasons – Can you remove your Roth contributions with a penalty? Money Reasons wants to clear up some notable misconceptions about Roth IRAs.
Wall Street Journal Catches Facebook Giving Your Info To Advertisers*
AIG Raises $17.8 Billion in Record Hong Kong Offering Putting Bailed-Out Insurer On Course to Repay its US Assistance
Economy
October Autosales Poised To Be Best of 2010
Netflix Separation Anxiety Attack at Retire By 40 – To sell or not to sell (Oh the Joys of Stock Investing)!
Entertainment Money News
Final Numbers Suggest Elin Received $110 Million Divorce Settlement From Tiger Woods
Paranormal Activity Has The Best Horror Movie Opening Ever!
Offbeat Money News
Whatever Can Be On Your Mind at Aloysa’s Kitchen Sink – Find out whether Aloysa and her future husband lost their jobs after they violated their company’s ridiculous policy.
Achieving What You Set Out to Do in 2010 at Move to Portugal – Laura reminds us that “there is still time to achieve it done…whatever ever it is”
The Importance of Opportunity Costs at Invest It Wisely – Missing opportunities can be costly. Kevin explains why.
Building Your Financial Fortress at Simple Financial Lifestyle – Bsimple explains how to protect yourself financially.
Carnivals
- Carnival of Personal Finance at Cash Money Life– Keys to Moving Beyond Past Failures
- Festival of Frugality at Frugal Upstate – Why Do We Save Anyway?
- Festival of Frugality at Budgeting In The Fun Stuff – Will Mortgage Rates Really Drop to 0%?
- Carnival of Financial Planning at Simple Trading System– Economists Blame ME for the Slow Recovery and Why Is Debt Really Decreasing?’
Round ups that linked to posts from this site
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Kevin at Invest it Wisely – Weekend Reading- Fall Edition
- Aloysa at Aloysa’s Kitchen Sink – Alyosa’s Reading Picks 2
- Laura at Move To Portugal – Link Love Update
- Kris at Everyday Tips and Thoughts – Take a Break and Read Some Great Posts
- Money Reasons – Visiting Family: The Brief Edition
- Bsimple at Simple Financial Lifestyle – Big Yakezie Thank You Edition
- Retire by 40 – PF Blogosphere Investigation
I would love to escape the Rat Race (someday, someday)!
I definitely believe in side jobs, side businesses and dividends from investment to create a multiple income stream.
Here's wishing great success to you, and to us all! 🙂
My recent post Making More Money By Working Two Jobs At The Same Time
Thanks for the mention. RIFed, not fired. Position eliminated to save money for the corporation, not terminated for non-performance. The most important thing is to always keep your skills current with what the market place is looking for. Don't get lazy and comfortable in those golden handcuffs because they could be gone in a flash of the eye.
Nice roundup and good questions Shawn. Complacency can be very hazardous to your wealth. My biggest fear is being locked in that rat maze and realizing too late that I had the keys to get out all along. I'm trying to find those keys right now. 😉
My recent post What Would Make Me Invest in the Stock Market
I absolutely concur! It's really about expanding yourself while expanding your income streams. I think this ultimately can make you a better employee too.
Thanks for the clarification. I didn't mean to suggest that you weren't performing but can see how my word choice had that negative connotation.
Golden handcuffs is right for most people, but I'm glad it wasn't in your case. You were able to navigate a really smart move because of your financial position and wise choices.
My recent post Making More Money By Working Two Jobs At The Same Time
Thanks for the mention, Roshawn. I would love to get out of the rat race, and The Grouch reminded me of how security can be an illusion. Even now, news of layoffs is coming closer and closer to home.
Yeah, it is very disconcerting. Fortunately, you are being fiscally conservative and an investor 🙂
You are welcome for the link!
My recent post Making More Money By Working Two Jobs At The Same Time
I think the bad economic news scared some "sense" into a lot of people. I'm a fan of a generous EF too in many cases. I agree: security is but an illusion unfortunately. I'm happen our awareness increased despite the circumstances.
My recent post Scarier Than Halloween Round Up and Uncommon Money News
Thanks for the mention Shawn.
I'm scared of ever going back into debt….so I maintain a healthy ef so that it doesn't happen!
My recent post Random thoughts on a Wednesday
That's a good one. I absolutely refuse to as well. It's just not worth it, and the EF has been a powerful too to ensure just that.