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The Road to Financial Self-Reliance

We should all strive to achieve financial self-reliance. The importance of this came home to me in 2013.

It made news at the time that U.S. politicians had mismanaged the social security trust fund. They had depleted all funds in the account.

The government could not meet the fortnightly pension installments on the due date unless the Treasury agreed to raise the debt ceiling.

I don’t live in the U.S. but I wanted to understand how this could happen and what people can do to prevent becoming the victim of such government mismanagement.

My friends who live in the US nearing retirement were in sheer panic.  Imagine how those who were waiting for their next social security deposit felt, not knowing whether they could put food on the table in the following week.

I am writing this post because I believe in financial self-reliance. I want people to understand that they should not count on a government, any government anywhere, to take care of them in their retirement.

How safe is your social security, or its equivalent in your country?  The video at the end of this post may shock you.  This can happen anywhere in the world – it already is. 

Don’t let it happen to you and your family.  The good news is that it is not too late – you can do something about it.

How Safe Is Your Social Security

The U.S. Government relies heavily on borrowing to pay its bills and was close to reaching the debt ceiling of $16,699 trillion. (Washington Post, Brad Plumber, October 4, 2013).   The Treasury had to raise the debt ceiling or print more money.  Neither option was a long-term solution for the economy.

Here’s the sad part: The social security trust fund never belonged to the government in the first place but to the people who payed into the fund throughout their entire working lives!

The situation was a huge wake-up call for people who believe that the government will take care of them in their retirement.

The government did not shutdown social security payments on that occasion, although it was a close call.  But what about the next time?

And what the heck does this have to do with the subject of this blog, online marketing? The take-away lesson is that self-regulation by any government must no longer be taken for granted.

 So what can we, as individuals, do?

The need for change bulldozed a road down the center of my mind.

—Maya Angelou

One solution is that individuals make the decision to become totally self-reliant and build a financial future that does not rely on any government.

How? Well, thankfully we have the Internet, and it is a viable income-creating tool when used appropriately. Many people around the world are supplementing their earnings or making a living online. One might not think so but the internet is in its infancy! It can provide a promising road to self-reliance for those who are willing to take the journey and do the work.

Watch the video to find out what happened to the U.S. social security trust fund in 2013.   It was on the verge of total collapse.

Are you contributing to a pension or social security fund? Are you expecting retirement income?  Pay close attention and take action to protect yourself and your family.

The video below gave me shivers.  It’s a must watch for anyone to understand the reality that one cannot and should not rely on any government to take care of them in retirement.    It is time to become immune to what the government does or does not do and become financially self-reliant.

 

Comments 10

  • Hey Jude, politics and religion are two subjects I refuse to talk about with anyone but my immediate family because of how passionate everyone is about their beliefs.

    I totally agree with the point that you’re making though and if anyone has ever thought they can rely on a company or our government to be honest and trustworthy to do the right thing I hope that what’s been going on right now is their wake up call.

    If you don’t start building your own future you may wake up one day and find everything that you have gone! That’s just the way it’s headed.

    ~Adrienne

    • Adrienne, I know what you mean about politics and religion, and agree. I wanted to show a real-world example of why financial self-reliance is necessary, more now than ever before.

      We have a saying in Australia, “she’ll be right, mate”, meaning that things will correct themselves so we should not concern ourselves too much with anything, including seeking better solutions for our long term financial health. What is happening in the US could just as easily happen in Australia.

      Thanks for stopping by, my friend. Lovin’ your blog!

      ~Jude

  • Hi Jude,

    I think that I came to your blog a while back when you were a new blogger.

    I guess that’s why we shouldn’t ever think that our future is in the hands of any government, but our own hands. That’s what I teach people as part of my coaching program. We are our own future, not the government.

    Very interesting post.

    • Yes, indeed, Sylviane. I remember. Nice to see you!

      Aren’t we indeed blessed to have the Internet as a mechanism through which we can create that future. I give thanks every day!

      Thanks for visiting and your feedback.

      ~Jude

  • Thanks for the post Jude. You have a great website! I’m right there with you and I have a lot of hope for my success in my new online ventures. Cheers! :)

    • Tiffany, nice to see you here at my blog. I am confident you will do very well indeed with your new ventures. If I can help you with anything, I’m always glad to do so. You are off to a great start with your new website, and living chemically free is an excellent niche for you.

      Thank you for your feedback. Much appreciated. I look forward to following the progress with your new business.

      ~Jude

  • Hi Jude,

    I was running two local businesses and stayed empty handed – zero income. I shut down one business due to global financial crisis. The other one disappeared automatically when Croatia joined European Union. I really understand the point of having self-reliant business.

    Best wishes,

    Roman

    • Hi Roman,

      Aren’t we lucky to have the Internet as an option to create financial self-reliance in the future! You have had more experience than most of us with how outside economic influences can put obstacles in our path to prosperity.

      Thanks for visiting my site and commenting. I appreciate it.

      See you around.

      ~Jude

  • It is so tough, I think that social security needs some vamping up. I hope we can figure out something in the future though, because the national debt is hard on our economy.

    • Hello Gary, yes, we need to figure something out. We shouldn’t hold our breath for governments to do it. The more financially self-reliant we can become, the more we can contribute to improving our economy and the less we need to worry about what governments do or don’t do with our tax dollars.

      Thank you for visiting and your feedback. ~Jude

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