May 31, 2013 — In memory of the untold tens of thousands of former personnel over the past 5 decades who contributed to and built the global timeshare industry and because for whatever reasons they mostly lived, worked and earned for the moment – the time has come for this generation of sales, marketing and management personnel who are dedicating their lives, futures, well-being & and family prosperity to the timeshare industry to approach their careers and options much more seriously than did most of their predecessors.
So here’s the Scoop: From an employee perspective, and unlike decades past, in this current era there are several outstanding timeshare developers that provide wonderful and fascinating career opportunities, benefits and a solid long-term future for their marketing and sales representatives (and management, too).
Sadly, though, the plain truth is that in 2013 there is still no shortage of other timeshare developers worldwide who cling to the old ways and won’t, or worse, could flat out care less about their employees’ security and futures. Their modus operandi being: ‘You are only as secure as your next deal –– and you better get one today!’
And because those developers don’t see the wisdom in offering legitimate long term career opportunities and security it is the sole responsibility of each person in our industry to look at some cold, hard realities and take control of their lives and futures so that when time passes, and pass it does – ever so swiftly, at the end of the rep’s career journey in the ‘Land of Time’ they’ll be as financially secure as possible.
So roll up those sleeves and honestly contemplate the following ‘Timeshare Security Questionnaire’ – specifically as the questions relate to your life. Allow this to be that ever so magnificent & magical ‘hindsight’ moment and get an idea of how you think, where you stand today –– and where you’ll undoubtedly be for those tomorrows that are absolutely 100% guaranteed to be here sooner than most imagine.
1.) If you earn (e.g.) $40,000 – $300,000 in any combination of a salary, commissions, bonuses, spiffs, investments, etc. this year (2013) – adjusting for inflation of 4.5% annually and maintaining your current lifestyle – how much more income must you earn next year to equal your purchasing power and lifestyle from this year’s income?
2.) How much more income will be required two (2) years from now?
3.) How much more income will be required in five (5) years?
4.) How much more income will be required in ten (10) years?
5.) How much more income will be required in twenty (20) years?
6.) What percentage of each pay cycle are you placing into a savings account and/or an investment such as stocks, etc.?
7.) If you work in an “AT WILL” region of the world (USA included), what protections do you have in place in the event your employment & corresponding income is terminated – with or without cause and/or notice?
8.) Do you have a WILL, an assignment of power of attorney, etc. and is it all current?
9.) If you have no health benefits then what % of your income, above your savings, etc. are you putting aside each pay cycle to prepare for the inevitable?
10.) If you have benefits such as major medical, dental, vision and life insurance, etc. what % (deductible) must you pay upfront – and what is the maximum pay-out (limits) per benefit claim?
11.) If for any reason the developer you are currently investing your future with regrettably, through no fault of their own – such as another Great Recession – is unfortunately forced into bankruptcy what are your contingency plans?
12.) If you have any disagreements with your in-laws, a neighbor, a friend, a product or service you’ve purchased, a contract or employment issues, etc. do you have legal representation retained to protect your interests in the event any disputes arise?
13.) If you are confident about your future earnings and retirement years what safeguards – such as long term disability insurance, etc. – do you have in place to ensure your future is as secure as possible?
14.) If you become unemployed and are not qualified for unemployment insurance benefits, how long could you and your family maintain your current lifestyle if you had to meet all financial obligations each month using just your savings?
15.) If you decided to leave your current position/company and relocated to another region for a new opportunity with another developer, and if no relocation allowance was being provided (or reimbursed), how much capital would it require to move you and/or the entire family?
16.) If your current company/developer offers no retirement plans such as a matching 401K savings, etc. what strategies, plans and mechanisms do you have in place to meet your financial needs after you’ve completed your timeshare career?
17.) If you are already planning for your retirement years are you using accounting firms, financial planners, asset protection, estate, tax, etc. professionals and other such services?
18.) If you have (or will have) children who someday want to attend college, how much money, absent scholarships, grants, loans & employer programs/contributions, etc. are you setting aside each pay-cycle for your children to earn a (e.g.) 4 year degree?
19.) If you leave your current employment under cordial conditions do you have a standard severance package (separation pay, benefits, unused vacation/sick pay, etc.) in place? I.E. a ‘Golden Parachute’?
20.) When you retire – and you will – do you believe living on social security (average per retiree in 2013 dollars: $1,230) will be a just reward worthy of all your time, energy, expertise and career in our industry?
There are certainly more questions and/or situations to consider. I’ve tried to keep to the basics and what should be acknowledged as critical realities for all marketing, sales or management personnel investing their lives, careers and futures in this wonderful and exciting industry.
If I’ve forgotten any other important issues/questions – feel free to e-mail me your input or simply post your thoughts below.
But whatever you think – or do – always remember:
http://www.usdebtclock.org (the clock is ticking)
People never plan to fail – They simply fail to plan!
Every second, every minute, every hour passes – time waits for nobody!
Yesterday is history – today is the gift!
Use that gift and the miracle of now wisely – for tomorrow’s security!
The ball is in your court – Stay healthy, make a ton of money and WIN!
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Contributing sometimes extravagant, bombastic, emotional, pompous or even pretentious writings about the timeshare industry, Scoop covers an array of industry related subjects each week including inside information, tips, scandals, interviews, forecasts as well as new (good or bad) products and services--- and, of course, all the 'Good', the 'Bad' and the 'Ugly'.
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