money merge account Article

Mostpeople exchange their time for money. Their entire compensationpackage is determined by the number of hours that they work in agiven week. Typically, an hourly wage is set which is multiplied bythe total hours worked during that time period. The standard in thiscountry is 40 hours with overtime accumulated after that. One'scomplete paycheck is contingent upon them showing up for work. Missa day of work and there is no pay earned without sick time.

Anothercommon pay plan is a salaried position. This is similar to thehourly except the pay rate is the same each week regardless of thenumber of hours worked. Overtime is usually not available in thisscenario. Unfortunately, most people end up working more that thenormal 40 hours under this plan. Companies put so much pressureon employees to increase production that the time spent working seemsto lengthen with each passing year.

Thisis the common mindset that is instilled in all of us growing up. Weare taught the we are to do well in school to get into a goodcollege. Once there, high achievement is stressed so that we can geta good job with a decent salary. When we accomplish that, thepressure is to work hard so that we can advance to higher rankswithin the organization with an associated increase in pay. Finally,we can retire after a productive career and drift off into our goldenyears.

Unfortunately,in this era, this concept is not realistic. Although the educationalsystem still prepares us to get a job, the lifetime employment withthe same company is bygone. People typically work for numerouscompanies during their careers. Massive layoffs are well documented. Loyalty either from the company or the employee is almostnon-existent.