Free Up Your Cash

Posts Tagged ‘laid-off’

Survivor’s Guilt

Tuesday, May 19th, 2009

With hard-working people being laid-off from their jobs left and right, those whose jobs have remained in tact may start to feel some effects of survivor’s guilt. Every single day people are losing their jobs or worrying about losing their jobs; unfortunately it has become the “American Way” of the era. There are countless resources for the jobless or soon-to-be unemployed to turn to, but what about those who have not been left without a job?

Many who have been laid off may turn against their employed neighbors, friends, family members, and spouses, feeling as if there is no way for them to understand the stress and helpless that comes with being unemployed. The employed may then even start to feel guilty for their success, hard work, good luck, or whatever else they may feel has caused their job security. They might be asking “Why did he or she lose their job while I kept mine? Am I expected to be working twice as hard now? Should I be putting in more hours and working through weekends and vacations? Should I double my donations to charity, since no one else can afford it? Should I offer more support to others, even outside of my family? What do I do with this new role as breadwinner, not just for my family, but for my country?” However, at a time when there is enough stress and ill-feeling going around the country, there is simply no room for the guilt of the thriving.

If you have been able to remain secure at your place of employment, do not feel guilty. It is not your sole burden to support the un-working world, to carry hard-hit charities, or to diminish your own skills and success. You should be proud of what you have accomplished, relieved at your stability, and active in supporting your community. Continue on the path that has led to your success and stability, but do not live above your means. Yes, continue to donate your time and money to charity, but do not increase your efforts above what you are comfortable capable of out of remorse.

We here at Five Point Capital know that the world needs strong, stead-fast, good-hearted people, not those crippled with survivor’s guilt. This economy is no time for showing off, bragging, or lavish spending, but it is also not the time for guilt or unwise spending. Do your part for your community, but remember to keep your head held high and your work ethic strong. The rest will soon follow.

Quitting Your Job in a Down Economy

Thursday, May 14th, 2009

Every day people are being laid off from their jobs. Those who have been laid off are facing an awful situation. Fear, panic, homelessness, hunger, and helplessness are at the forefront of anyone’s mind if they have been laid off. However, there is a small group of people who have been forgotten and who remain as confused and helpless as ever—those who desperately want to quit their jobs.

In this economy, quitting your job seems insane. Thousands of people are struggling to keep their jobs, find new jobs, and just keep their families and lives together. However, think back to a few years ago, when the economy and job market were doing well. If a friend had come to you, describing a miserable job environment, chances are that you would have encouraged them to quit—to damn the man and put themselves back on the market for a job, just as you might encourage a friend in a bad relationship to break up with his or her significant other.

What should those people do now? Stay in their miserable jobs simply because they pay? Sometimes being at a miserable job can be even more depressing and emotionally damaging than being jobless. So what should you do if you desperately want to quit your job?

It depends on who you ask, really. This freelance writer recalls her Dad giving her the sound advice to not quit her job until she had a new one. However, she could simply not bring herself to be miserable at work any longer, and quit against his advice. She claims her financial worries and stresses are great, but that all in all she is happier. This advice columnist claims that any unhappy new employee should slowly begin a job hunt for a new place of employment, but make sure to give the job at least six months before making any decisions. This mom expresses confusion over whether to tell her teenage son to stick out his degrading entry-level labor job to teach him about life in the working world, or to encourage him to quit and enjoy his youth.

This US News and World Report article delivers some interesting statistics about those who have left their jobs. It claims that those who were laid off end up receiving less pay at their next job, but those who quit usually end up receiving just as much as they were before. This may be due to the fact that those who are laid off become a bit desperate, and will accept any job for which they are hired. Those who quit have a more discerning eye, and will only accept a job that was better than the one they originally quit.

Then of course there is the more radical view, as popularized by David Seaman. Seaman has gone public with his controversial idea that the recession is the perfect time to quit your job, as it makes you stand out in the unemployed crowd and can give you a strong sense of self-empowerment. One of his television interviews can be found here.

The bottom line is your happiness and survival. Quitting your job in this economy will, without a doubt, cause an immense deal of stress. The question is, is the financial stress more manageable for you than the stress of a miserable job? If you honestly do not believe you can support yourself or your family in any way without your job, quitting may not be in your future. However, if you think that can you survive financially and deal with the stress of being unemployed, quitting your job may be an option. Five Point Capital cannot encourage you to quit your job in a down economy, nor can we encourage you to stay at a job that is emotionally depressing. This decision must be yours and yours alone. If you are well-informed and knowledgeable of your own financial and mental-health situations, however, you should be able to make the decision that is best for you.