As early as my middle school years I’ve wondered when my generation would face its great challenge. We’re in the middle of it right now. This is more than an economic downturn. It’s more than a banking crisis. It’s more than an ill-defined war on terror. The ground under our feet has changed and we’re all trying to figure it out. The rules we were taught by our parents, family, and society have changed, but no one has told us how. I believe this is what the Occupy Wall Street protests are reacting to.
The Old Script
We were taught the script: go to school, do well, go to college, get a good job, do a good job, get married, buy a house, and save for your kids’ education and your retirement. Sure we had to borrow money for college and our mortgage, but we’d make it up over the years of employment with a good company. We’d need a lot of money for our retirement, but many good jobs had pensions and we could make up the difference with our 401Ks. We had hoped Social Security will be there, but we did not count on it.
That script might have worked for my parents’ generation, but it’s proven horribly wrong for mine, and many of us are so far down the road that we don’t have time to make up our financial losses. That’s downright scary for millions of people.
Learn the New Script
You’re an independent agent. You’re the product that you need to develop and market. Like an elite athlete you have to keep yourself in shape, keep your skills sharp, and be versatile doing whatever is needed to contribute to the success of your team. This isn’t easy and it isn’t passive.
You need to learn how to get things done, how to solve problems, and how to work with groups of people. Getting things done, things that show up on the scoreboard (the bottom line) is what gets you more salary. Will college degrees help you with that? If not, then don’t waste your time or money on them.
Find a job where you can learn and develop the skills you need to stay employed or to employ yourself. Keep learning and developing. Keep finding things you’re good at that people will pay you for. Learn how to market yourself and show your value.
Watch your debt. Debt is slavery. Cash gives you freedom to take a job at a lower salary, but one that will teach you valuable skills . Cash gives you the freedom to work the way you want or to walk away from a bad job. Cash gives you the freedom to start your own business.
What Are You Going to Do
That pain, that frustration, that confusion we’re feeling is because reality doesn’t match our frame of reference. It’s time to change our picture to match reality. It’s time to adapt. Those who adapt survive. That’s the way it’s always been.
