It’s no secret that the father’s career path is no longer being repeated by the son (or daughter). Nor was it so long ago that folks graduated from college, signed on with a company, and spent the next 40 years toiling in the same office.
The business model in the U.S. has changed dramatically. Management styles have changed, and the desires and demands of the workforce have changed. For some in the 21st century, the corporate life has little to offer; for others, a growing desire to take charge and ‘do-it-themselves’ has emerged.
Typical wage earners today can expect to have anywhere from 6 to 8 job changes within a chosen profession in a working lifetime; and many are switching careers in their 30s, 40s, and 50s. What’s more, traditional employment options have become unreliable for providing a secure future, with studies now suggesting individuals may have to provide up to 50% of the income they’ll need during their retirement years.
‘We’re at a tipping point in the American job economy,’ says Terry Powell, founder and CEO of The Entrepreneur’s Source, a franchise and business consulting firm for individuals seeking new directions. ‘The traditional job market no longer offers the security individuals and families need to live well,’ he says. ‘Taking control of their lives through becoming self-sufficient is now the new way to reach the American dream of living with long-term financial freedom.’
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