Magazines Address Workers Who Control Their Own Fate

A leading business magazine poses a question many workers have pondered in the age of corporate downsizing, workplace malaise and dreadful commutes: Would you give up the security of a paycheck if you never had to punch a clock again? What if you had a guide to help you go solo?

The September cover story of Money magazine exclaims, "Declare Independence!" and offers advice on how to trade "the illusion of lifetime job security at a company for the freedom and fulfillment of controlling (your) own fate."

Sounds as grandiose as the Free Agent Nation buzz created by the bestselling 2001 book. But a lot has changed since then. Workers endured a brutal job market — and grew wiser for it. Even though employment trends are now improving, the promise of financial rewards and personal fulfillment from corporate America rings hollow.

Money writers Ellen McGirt, Janet Paskin and Donna Rosato compiled a package of articles on how to afford the life you want, even if you aren't a born entrepreneur. They start by laying out three paths to fulfilling the dream of self-employment, illustrated with stories of real people who succeeded. Either you start your own business while still employed, accumulate enough wealth to retire young and work as you choose, or embrace a job loss as an opportunity to do what you always wanted.

Then, the writers get down to creating a plan for each of those paths. If you still have a job, line up any financing while you still have a W-2 — lenders are wary of the self-employed — get any training or tuition reimbursement from your employer before you quit, and work for free while you're collecting a paycheck to build a client base.

If you want to retire early, live on less while you're still working, work part-time after you retire to avoid tapping savings and line up affordable health care. If you lose your job and want to try going it alone, aggressively negotiate as much severance pay as you can, pitch yourself as an independent consultant to your current company and create a formal business plan to get financing.

If you're going to telecommute, it only makes sense to keep phone, cell, cable and Internet expenses under control. But even if your home isn't also your office, who couldn't stand to save on those bills? SmartMoney magazine explains how in its September cover story, "Cut Your Internet, Cable, Phone, Cell Bills 40%," by Anne Kadet.

"The majority of Americans think their phone, broadband and TV services cost too much. But instead of taking action, we gawk helplessly as our bills climb ever higher. The biggest culprits — our cell phone and cable bills — jumped more than 25% in the past four years. … These ballooning bills are especially vexing given that rates are actually falling," Kadet writes.

"The problem? Few among us find ways to capitalize on those falling rates. While we live with the nagging feeling that we're paying for more than we need, the prospect of sorting through those confusing phone and cable plans sounds even worse. The services we want always seem to be packaged with expensive add-ons we don't need. Muddying the waters even more, the deals are always changing."

But with 15 tips, Kadet details simple ways to make big reductions, including what to look for when you review your bills and how to negotiate a better rate. She also suggests avoiding bundled features and package deals.

Copyright © 2008 Donald W. Reynolds National Center for Business Journalism