On Monday the NewsHour had an interesting piece on layoffs - that they
basically decreased lifespan by a huge amount, lowered self-esteem,
caused heart attacks, etc. Here's the intro:
Layoffs Cause Self Esteem Problems, Author Finds
With the increase in outsourcing jobs to maintain a competitive edge
in the global economy, Americans are facing more frequent layoffs at
the workplace. This phenomenon is causing low self esteem and other
psychological problems among people losing their jobs.
http://www.pbs.org/newshour/bb/business/july-dec06/disposable_09-04.html
The part I disagree with is the implication that the effects of
layoffs are not, in part, due to the person being layed off. That
is, the stress is usually due to money and that's about managing
money.
Many times when people lose their jobs their stress is due to worry
about where the next check is coming from. Which means they haven't
financially planned for that occurrence.
So what's government's role? To me it's:
1.) To make sure everyone has access to the same information (SEC).
2.) To make sure everyone has access to higher education.
3.) To make sure K-12 is teaching managing risk, career planning, and
finance so that people make an intelligent choice when they spend
their savings money on that new boat.
In my view everyone, no matter your income, can save; unless you've
been making bad decisions or are taking care of someone who has. The
problems start happening when people make decisions without
considering the risk:
* Should I nail my girlfriend w/o protection given she could get pregnant?
* Should I build at least 6 months of savings?
* Should I buy a house? Can I do that AND save?
* Should I buy a new car? Can I do that AND save?
Yeah, bad things do happen that are nobody's fault. But 95% of the
pain could be eliminated if people did better financial planning.
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