Your Final Paycheck
Your final paycheck should be one of the best things that ever happens to you. But how many people can say that joy was the emotion they felt when they received it? Probably not many.
There are really only three things that will result in the end of paychecks:
You get fired.
You retire.
You quit.
Two out of three (quitting and retiring) are usually good things. Firing less so. But usually all three cause a similar emotional response: FEAR. If you lost your job and suddenly have no source of income, you should be scared. Sadly, we have all seen way too many people suffer through this during the past year. If you have retired, you have (usually) made the active decision to leave your paying job but still fear running out of money. This, of course, varies dramatically from person to person depending upon the size of your retirement savings, but unless you are wealthy you will probably lose some sleep over this. I do not have any advice for you for either of these situations. I am neither an employment professional or a financial planner. So I will reserve my comments for Situation #3: Quitting.
If you quit without plans you are either rich, crazy, have a free place to live and get fed or are supremely self confidant. I sure hope it’s the latter. Because if it is, you almost assuredly have a plan. That’s a good thing. And that plan probably involves a way to earn money without having to answer to someone else. Hooray for you! Hopefully that plan does not involve a scheme for getting on Shark Tank but rather, a real road map for establishing a business. That may be via buying a business, a traditional start-up or perhaps something I do know something about: buying a franchise. Whichever, it means that you will no longer be getting a paycheck (until you are big enough to become a full-fledged corporation.) Ok, so we’re back to scary. But that’s ok. Fear is a great motivator. You will never know how high you can jump until an angry dog is chasing you towards a fence.
If you are about to receive your final paycheck, or recently have, I wish you well. If it is because of your lost your job, I hope you find a new one soon. I have been there my friend. You will get through it. If you recently retired, my best wishes for a long, rewarding and happy retirement. Please take care of yourself because the long part is critical. And for those of you who quit, best of luck. I am cheering you on. Whether you succeed or not, one day you will look back at that final paycheck not as a lifesaver but as an anchor. Not as a balloon but as a ball and chain. But you will lose sleep over it. So please feel free to drop me a note if you are up in the middle of the night.