Why investing in real estate is SO important !
I learned today an extended family member on my wife's side lost their job. This was at a major retailer company as a manager. He was on time, never called in sick, and did a great job. Was there over 11 years as a faithful employee.
The company was consolidating positions. He had been there so long he made decent pay 25k plus a year.
They told him today he had two options. Take 6 week severance and then file unemployment or he could stay on but would lose insurance and health benefits, they would move him to part time hours, and he would have to take a reduced pay. He chose the severance package as with his family the alternative would not have worked.
I think probably since he is in his mid 40's and making money they opted to eliminate positions and put a young buck in doing 10 things for a cheap price. They have very limited savings so he will have to find a job soon because unemployment will not give him the full earnings he made weekly but just a portion.
This goes to show that NOBODY should ever get comfortable. I am very great full I have a successful business and many, many years worth of reserves. Whether working for someone else or for yourself this shows you need to have investments throwing off cash. While you wouldn't fire yourself from your own business there might be times you can't work due to health reasons. The income coming in regardless of if you are sick, laid off from the job etc. gives you the security to weather life's storms.
