You already understand the benefits of having health insurance when those unexpected situations come along, but do you have career insurance??
When that inevitable career “stroke” or “heart attack” comes along you don’t want to be left holding the bag on your career, do you?
For a Chief Audit Executive, belonging to the CAE Forum is like having career insurance for those tough challenges every CAE eventually experiences, and it’s much more affordable than health insurance.
You can keep doing what you are doing, or you can join a consistent confidential community of like-minded CAEs that comes with executive coaching. The choice is up to you.
If now is the right time for you, whatever you do check out: https://jasonmefford.mykajabi.com/caeforum and schedule a call, but don’t just take my word for it, see the benefits others have experienced by being a part of the CAE Forum on the website.
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Jason Mefford: Welcome to another episode of jamming with Jason hey today, we are going to be talking about career insurance, so if you’re not sure what career insurance is.
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Jason Mefford: Make sure to listen, because you’re going to find, as you listen to this episode that career insurance is really something you can’t afford to go without so with that let’s cue the episode.
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Jason Mefford: Alright, so today we’re going to be talking about career insurance and i’m guessing for most of you, this may be a term that you’ve never heard of before okay.
00:00:48.870 –> 00:00:59.370
Jason Mefford: But it’s something that is very important for you to have, and I know, since this is probably a new concept to many people.
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Jason Mefford: i’m going to go through in this episode and just talk about kind of three things related to career insurance today i’m just going to give you a little a little taste for it.
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Jason Mefford: Because what you’re going to find is i’m going to start talking a lot more about this particular topic.
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Jason Mefford: And the reason is because it is so important and it’s something that will protect you against the possibility of losing your job.
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Jason Mefford: And i’m guessing That is something that you really want to know about how can I protect myself from the possibility of losing my job okay so before we jump into it, you know i’m guessing already you you already understand the importance of having something like health insurance okay.
00:02:03.900 –> 00:02:09.720
Jason Mefford: Most people have health insurance, a lot of people have life insurance as well.
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Jason Mefford: Because like I said you already understand the benefit of having those things, but like I said, you probably haven’t ever heard about career insurance.
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Jason Mefford: So let me I was actually talking one of my friends was telling me about an experience that he recently had because he actually had some health issues.
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Jason Mefford: And so, let me, let me just kind of you know, tell you about it, he was he was explaining you know one night he all of a sudden just really didn’t start feeling well.
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Jason Mefford: He ended up going down to the ground, he was by himself in the House, but was able to to kind of text or call his sister.
00:02:51.570 –> 00:03:02.760
Jason Mefford: And she realized obviously that something was wrong with him, even though he couldn’t really speak she sent out, you know she called the Ad the 911.
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Jason Mefford: The ambulance ended up coming out and getting him and and because he lives in a small town.
00:03:11.550 –> 00:03:17.520
Jason Mefford: When they showed up and they started looking at him they realized that this guy was having some serious trouble.
00:03:18.150 –> 00:03:26.370
Jason Mefford: That they couldn’t actually deal with their in the small town, and so, because of that, you know they very quickly put him on a helicopter.
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Jason Mefford: and sent him to the closest major city where they could actually help him.
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Jason Mefford: And he was joking with peace said, you know you know Jason this really kind of sucked it was my first helicopter ride ever.
00:03:40.950 –> 00:03:48.840
Jason Mefford: And I don’t even remember it right, because he kind of blacked out, he was unconscious, in fact, he was unconscious for about the first day or two.
00:03:49.470 –> 00:04:03.900
Jason Mefford: And then kind of came came back to it and and so here, he was like like I said he was in this small town, all of a sudden, he ends up on a helicopter goes to a major city and spends most of the week and.
00:04:04.440 –> 00:04:10.080
Jason Mefford: In the hospital they’re trying to get all of his health things under control.
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Jason Mefford: Now why am I telling you that because, again, as he was telling me this story right he said now make sure that you have health insurance Okay, because he started going through and talking about the bills that he started to receive so any idea how much that helicopter ride cost him.
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Jason Mefford: It was $70,000 for the helicopter ride to the hospital, it was an additional $60,000 for him to be in the hospital.
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Jason Mefford: So why was he telling me why was he reminding me Jason make sure you have health insurance and he said, you know, luckily I do have health insurance, so those bills is not actually what i’m going to have to pay.
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Jason Mefford: So why, why do you think he was telling me that right, because if he did not have health insurance.
00:05:06.900 –> 00:05:15.990
Jason Mefford: He would have had to fork over $130,000 for that medical treatment that he needed.
00:05:17.040 –> 00:05:30.180
Jason Mefford: Now, most of us don’t have $130,000 to be able to pay for medical and so that’s why like I said, most of us already understand the benefit.
00:05:30.630 –> 00:05:40.650
Jason Mefford: of having health insurance Okay, we pay for health insurance every month and, again, depending on where you live i’m talking from from someone here in the United States.
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Jason Mefford: Because we don’t have nationalized healthcare here, and so we all have to choose and again, you can choose to go without insurance for health care.
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Jason Mefford: But like I said, if something seriously bad happens to you, you could be out $100,000 and so that’s why again, most people in the US.
00:06:04.200 –> 00:06:17.700
Jason Mefford: That is one of their priorities they spend in invest in having health insurance and it’s not cheap Okay, I mean for my wife and I it’s about $1,500 a month.
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Jason Mefford: For health insurance, but again, you know I could I could look at that and I could say Oh, you know what 1500 dollars that’s a lot of money, I can’t afford.
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Jason Mefford: To have health insurance, but what’s the reality I can’t afford not to have health insurance why because again 1500 dollars a month.
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Jason Mefford: He is way cheaper than me having to spend $100,000 if I have to go in and have some serious medical condition Okay, so we already understand that.
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Jason Mefford: But again, you know, there are some people that choose to go without health insurance that’s fine that’s your choice, if you choose to do that.
00:07:04.680 –> 00:07:19.290
Jason Mefford: But again, you have to realize if something happens and invariably it does happen at some point in your life you’re going to need the health insurance, you know again i’m very healthy.
00:07:19.950 –> 00:07:26.160
Jason Mefford: I rarely go to the doctor my wife, has a hard time even getting me to go to the doctor once a year for my physical.
00:07:26.850 –> 00:07:41.520
Jason Mefford: Because i’m healthy, and so I don’t have a need to go to the doctor right, but I still choose to have health insurance, I still choose to invest in having health insurance.
00:07:42.120 –> 00:07:52.800
Jason Mefford: Now, the same thing with life insurance for me right, I i’m the primary breadwinner in our family, I have a life insurance policy, so if something happens to me.
00:07:53.190 –> 00:08:02.400
Jason Mefford: That my wife is protected and cared for, after my death now again I get sit there and say oh I can’t afford.
00:08:02.850 –> 00:08:16.860
Jason Mefford: To have life insurance or I can again look at it and say, well, I can’t afford not to have life insurance why because I don’t want to leave my wife.
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Jason Mefford: In a financially awkward position when I die Okay, and so you know what does this have to do with what we’re talking about today with career insurance.
00:08:30.060 –> 00:08:41.820
Jason Mefford: because the problem is, I see so many people and i’m guessing you may be one of these people, that goes without career insurance.
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Jason Mefford: And so, just like those people that say I can’t afford health insurance or I can’t afford life insurance.
00:08:49.890 –> 00:08:57.450
Jason Mefford: Well you’re you’re you’re you might be saying I can’t afford career insurance right and at this point, you might be saying.
00:08:57.780 –> 00:09:02.670
Jason Mefford: Well Jason you haven’t even told me what it is yet right well don’t worry we’re going to get there we’re going to get there okay.
00:09:03.300 –> 00:09:16.140
Jason Mefford: But, but I what I what I, the reason why i’m talking about this is, I see so many people today going without career insurance.
00:09:16.740 –> 00:09:27.960
Jason Mefford: Now, what does that mean well again it’s protecting yourself against the possibility of losing your job now it’s it’s you know insurance against.
00:09:28.620 –> 00:09:42.360
Jason Mefford: If you do lose your job, but it’s also insurance in helping you keep your current job Okay, so not only does it help you in keeping your current job.
00:09:42.840 –> 00:09:52.800
Jason Mefford: But it helps you in the event that you lose your job okay now, so what is career insurance.
00:09:53.460 –> 00:10:05.040
Jason Mefford: it’s actually putting together a plan for yourself to insure against the possibility of losing your job, and there are several.
00:10:05.490 –> 00:10:16.110
Jason Mefford: components to it or several things related to it because right now, you can’t go down to an insurance company and say hey buy me some of that I want to buy some of that career insurance.
00:10:16.440 –> 00:10:20.220
Jason Mefford: it’s not the same thing okay insurance companies don’t sell.
00:10:20.730 –> 00:10:42.120
Jason Mefford: inch career insurance, but you know what I have been doing for many years, and why I have some of the different businesses and the end and different interests and things that i’m doing and things that i’m saying is when people follow it, they have this career insurance Okay, and so again.
00:10:43.740 –> 00:10:48.630
Jason Mefford: As I said, I want to, I want to go through and talk to you a little bit about this today, at least to start teeing it up for you.
00:10:49.680 –> 00:10:52.380
Jason Mefford: so that you can start thinking about what you need to do.
00:10:54.450 –> 00:11:00.120
Jason Mefford: To be able to get yourself in order so that you have this career insurance.
00:11:01.290 –> 00:11:09.450
Jason Mefford: Okay So the first thing I said I said there’s there’s several different pieces to it and I just want to get through the first couple in today’s podcast.
00:11:09.810 –> 00:11:21.900
Jason Mefford: And, but but don’t worry i’m going to give you more it’s just we can’t get through everything just in one episode today so that’s why i’m going to be talking about it more often.
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Jason Mefford: Because really whatever you do you’re going to want to make sure that you get career insurance Okay, the first thing that we’re going to talk about is.
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Jason Mefford: Diversifying your skills and making sure that you have the right skills Okay, and the reason for that again is, if you know if you don’t have the skills to be able to do your job properly now.
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Jason Mefford: What do you think’s going to happen well if you don’t have the skills to do your current job.
00:11:55.710 –> 00:12:04.260
Jason Mefford: Then eventually you’re probably going to lose your job, because you can’t perform or do the things that are expected of you.
00:12:04.980 –> 00:12:23.790
Jason Mefford: And so again having those skills helps you currently do your job, but also in the event that you lose your job, having certain skills will make it much easier and quicker for you to be able to get a new job okay.
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Jason Mefford: So what are some of these skills are things that you need to have for you to be able to diversify those skills and how do you get them right, those are probably some of the questions you’re asking right.
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Jason Mefford: Well, the easiest way to get some of these skills, again, is through training and through certifications okay now training uh you know again in training, you learn specific skills.
00:12:53.160 –> 00:13:04.110
Jason Mefford: Now those can be what we call technical or hard skills right, those are things like you know how do I audit, you know understanding more about risk management.
00:13:04.710 –> 00:13:14.940
Jason Mefford: Some of the some of the technical parts of your job, those are an important part, but just as important, if not more important.
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Jason Mefford: Or what a lot of people call the soft skills communication writing speaking influence all of those kind of things that go along with.
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Jason Mefford: You know, being able to do your current job but also being able to have those skills are transferable to something else.
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Jason Mefford: In fact, a lot of those soft skills are transferable between industries and between different types of jobs as well, and so that’s why I said again.
00:13:44.580 –> 00:13:53.250
Jason Mefford: it’s important to have those because not only does it help you in your current job, and especially for those of you an internal audit risk and compliance area.
00:13:53.700 –> 00:14:09.420
Jason Mefford: Most people in those jobs don’t have the soft skills and so, if you have, and you develop those soft skills you’re going to be much more in demand than the other people who don’t actually have it okay.
00:14:10.800 –> 00:14:12.630
Jason Mefford: Excuse me a little tickle in my throat to them.
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Jason Mefford: So that’s The first thing is diversifying your skills and and and again the the best the easiest way to do that.
00:14:22.230 –> 00:14:35.220
Jason Mefford: Is by getting training, but also by getting certifications Okay, because training is good training is great hey I I own a training company okay all transparency.
00:14:35.880 –> 00:14:45.840
Jason Mefford: But the reason for that is it’s because people need training they need access to good training, regardless of where they’re at in the world.
00:14:46.170 –> 00:14:59.430
Jason Mefford: They shouldn’t have to travel, they should be able to do it on their own time that’s why see risk academy is there folks it’s it’s high quality content from world class instructors.
00:15:00.180 –> 00:15:12.600
Jason Mefford: That you can access anywhere anytime on any device which means, if you want to get some of that training, you have access to it at a very, very affordable price.
00:15:13.080 –> 00:15:24.090
Jason Mefford: In fact it’s so affordable that anyone in the world can take this training, if you actually want to get trained okay.
00:15:24.780 –> 00:15:42.000
Jason Mefford: Now the other thing is certifications why certifications well training is important training is good, but a lot of times you don’t really you can’t put that on your resume okay now hold hold fast to that because actually very shortly.
00:15:43.140 –> 00:15:50.370
Jason Mefford: you’re going to have some abilities to do that through see risk academy when it comes to training, too, but I can’t let the cat out of the bag yet on that.
00:15:51.450 –> 00:16:04.710
Jason Mefford: But one of the reasons why certifications are so important is those are things that you can actually put on your resume that makes it easier for you to get a different job.
00:16:05.100 –> 00:16:13.770
Jason Mefford: It is something that has proven you’ve gone through a rigorous process to make sure that you actually understand and know those particular topics.
00:16:14.160 –> 00:16:31.500
Jason Mefford: And you have have passed an exam you actually are certified and can hold up a piece of paper can show people that look I am certified in risk based internal auditing i’m certified in internal audit i’m certified in agile auditing as examples okay.
00:16:32.670 –> 00:16:38.640
Jason Mefford: And so again that’s those things are important for you so that’s kind of the first pillar is.
00:16:39.090 –> 00:16:54.540
Jason Mefford: Think about what is it that you have already, on your resume what needs to be on there, what training what certifications do you need to be able to help you in that part of your career insurance.
00:16:55.230 –> 00:17:06.000
Jason Mefford: And again i’m going to get more into this in the future, so you can get a better idea of how to know what areas to focus on but i’ve already been telling some of you this for a little while right.
00:17:06.570 –> 00:17:15.390
Jason Mefford: Especially if you’re an internal audit data analytics and and agile auditing are two of the hottest topics right now.
00:17:15.720 –> 00:17:29.940
Jason Mefford: That, if you want to get ahead Those are two areas for you that you really need to get more training and certification on because there’s a lot of jobs out there, that are not being filled because people don’t have those skills okay.
00:17:31.770 –> 00:17:41.310
Jason Mefford: So that’s first one that I want to talk about today, the second one that I want to talk about today relates to network and community.
00:17:41.820 –> 00:17:49.710
Jason Mefford: Now, a lot of people talk about networks, I don’t like the term network because networking is for sales people.
00:17:50.190 –> 00:18:00.630
Jason Mefford: In fact there’s a previous episode about I think it’s called that networking is for sales people most professionals that i’m talking to you don’t necessarily need a network.
00:18:01.140 –> 00:18:06.090
Jason Mefford: Because the problem with a network is network is usually about selling things.
00:18:06.570 –> 00:18:16.590
Jason Mefford: And there’s no connection it’s the shy it’s the show up hey shake hands with everybody hi i’m Jason, what can you do, for me, you know kind of a kind of an attitude.
00:18:17.340 –> 00:18:30.510
Jason Mefford: And that’s not what you actually need from a career insurance perspective, what you need is Community okay community has connection with other people.
00:18:31.380 –> 00:18:47.160
Jason Mefford: it’s not all about gimme gimme gimme gimme gimme it’s a two way street, where you’re helping people and people are helping you and there’s a big difference between a network and being a part of a Community okay.
00:18:47.730 –> 00:18:54.270
Jason Mefford: Now, why is that so important because, again when these tough times come along in your life.
00:18:54.900 –> 00:19:04.890
Jason Mefford: Whether that’s you know you’re a chief audit executive and all of a sudden something happens you’re having an issue with peers, or maybe with your board or your CEO.
00:19:05.640 –> 00:19:17.400
Jason Mefford: And you just don’t know how to get through it well without belonging to a supportive community and already being a part of that community beforehand.
00:19:17.910 –> 00:19:24.120
Jason Mefford: it’s pretty tough to reach out to people, because at that point, sometimes it’s too little, too late.
00:19:24.600 –> 00:19:30.270
Jason Mefford: But if you’re a part of a community, you can actually reach out and get the help that you need.
00:19:30.750 –> 00:19:40.350
Jason Mefford: To hopefully be able to navigate through those political landmines, so you don’t lose your job Okay, this is why community is so important.
00:19:40.770 –> 00:19:49.560
Jason Mefford: Because if you don’t have that if you don’t have the help at the times when you really need it chances are and i’ve seen this with lots of executives trust me.
00:19:49.980 –> 00:20:02.220
Jason Mefford: Is they end up losing their job they don’t know how to respond or react, and as a result of that they end up finding themselves without a job.
00:20:02.580 –> 00:20:13.830
Jason Mefford: that’s not what you want okay so having that community is the ability again to learn from others beforehand, but also have that supportive community.
00:20:14.220 –> 00:20:25.770
Jason Mefford: At times, when you need help and for you to be there for other people when they need help, as well, a community is give and take.
00:20:26.130 –> 00:20:33.510
Jason Mefford: You are giving as well as taking half the times when you need it okay and that’s why like I said networking and community.
00:20:34.440 –> 00:20:45.960
Jason Mefford: are two different things, networking is usually gimme gimme gimme take take take Community goes both ways okay so where can you get that, how do you get that.
00:20:46.500 –> 00:20:53.250
Jason Mefford: In your professional life, because i’ll tell you just because you’re connected to somebody on linkedin.
00:20:53.970 –> 00:21:03.360
Jason Mefford: Just because you have somebody’s email or phone number that you met at some event doesn’t mean that you have a Community because.
00:21:03.990 –> 00:21:18.150
Jason Mefford: Try sending them an email try sending them a message on linkedin they’re probably not going to respond back unless you have developed a connection with that person and have some sense of community with them.
00:21:18.900 –> 00:21:27.480
Jason Mefford: So how do you get this well again, you can get some of the Community, one on one, but there are other areas for you to be able to go.
00:21:27.960 –> 00:21:36.030
Jason Mefford: there’s things like professional associations that you can belong to now again is that is that a Community or is that a networking event.
00:21:36.420 –> 00:21:48.690
Jason Mefford: Well, most of the association events i’ve gone to are much more like networking than they are like Community it’s it’s again, what can you, what can you give me as opposed to necessarily being the Community.
00:21:49.590 –> 00:22:03.150
Jason Mefford: But again, those exist, what are some other options well another option is see risk academy again it’s not it’s not a training company it’s a learning community.
00:22:03.570 –> 00:22:13.950
Jason Mefford: it’s a community of people that are learning and are helping to support each other as well you know, obviously there’s learning resources.
00:22:14.370 –> 00:22:26.610
Jason Mefford: But it’s a Community behind it, as well the people on the see risk academy team, the people who are a part of the sea risk academy family, as well as a Community.
00:22:27.210 –> 00:22:37.170
Jason Mefford: And again, you are going to see much more about that Community side of this over in the next few months as well.
00:22:38.130 –> 00:22:52.380
Jason Mefford: So that’s an option for people as well now if you are a leader right so let’s say you’re supervising people you’re a manager where can you go well, again, there are communities that are out there.
00:22:53.340 –> 00:23:11.430
Jason Mefford: Not very many and that’s one of the reasons why I have a program called the briefing leadership program, it is a Community as well as learning opportunity for people who are leaders to be able to understand.
00:23:11.940 –> 00:23:28.530
Jason Mefford: How can you actually develop intuitive leadership, how can you develop neural influence and how do you have the mental mastery to actually be able to be a leader who can lead people and that people will follow.
00:23:29.760 –> 00:23:49.110
Jason Mefford: But it’s not just learning those skills, it is a community of leaders who are working through and learning from each other and supporting each other as well, so that’s another kind of community that’s available for people who are leaders.
00:23:49.710 –> 00:23:57.570
Jason Mefford: Now, if you happen to be a chief audit executive what’s available for you well again there’s some roundtables that are out there.
00:23:57.930 –> 00:24:11.610
Jason Mefford: Most of those operate much more like networking and honestly, a lot of them are professional development, things that companies are doing to try to sell you a bunch of business so.
00:24:12.360 –> 00:24:22.830
Jason Mefford: A lot of those are not really community as well, but there is something called the chief audit executive forum it’s another program that I have.
00:24:23.220 –> 00:24:37.050
Jason Mefford: That is community, it is a consistent confidential community of only chief audit executives right, you have to be a chief audit executive to be in the Program.
00:24:37.560 –> 00:24:44.280
Jason Mefford: But it is a Community feel there is obviously learning that goes along with it, but it is a community.
00:24:45.060 –> 00:24:57.150
Jason Mefford: That also includes confidential advisors and coaches so again it’s not somebody trying to tell you hey, this is what you need to do, because this is what I did.
00:24:57.420 –> 00:25:03.780
Jason Mefford: Or, this is a best practice and you just need to follow the best practice it’s actually a community.
00:25:04.350 –> 00:25:16.620
Jason Mefford: So, again community of Chief audit executives that also has access to confidential advisors and coaches to work, one on one and within the group with those.
00:25:17.010 –> 00:25:28.470
Jason Mefford: people that are in the program Okay, that is another sense of community and again something that you need if you are a chief audit executive.
00:25:29.010 –> 00:25:38.160
Jason Mefford: Because being a part of a Community like the chief audit executive forum is exactly one of the key pieces to having career insurance.
00:25:38.610 –> 00:25:53.940
Jason Mefford: And i’ve seen this over time i’ve watched people who choose not to participate in things like this and they’re left all alone by themselves and guess what happens when the equivalent of my friend, having his stroke.
00:25:54.810 –> 00:25:58.920
Jason Mefford: What do you think happens to those executives they end up out of a job.
00:25:59.940 –> 00:26:08.160
Jason Mefford: Because they get a bill that they can’t afford to pay and they end up losing their job.
00:26:08.610 –> 00:26:19.230
Jason Mefford: Now, just like health insurance and life insurance right I can’t I can’t die and then go have my wife buy a life insurance policy for me, you have to do it before you die.
00:26:19.590 –> 00:26:27.840
Jason Mefford: You have to have health insurance before you have a an issue that’s the best way with career insurance to my friends.
00:26:28.410 –> 00:26:35.100
Jason Mefford: belonging to the to a Community you know, like the briefing leadership program or life, the chief audit executive forum.
00:26:35.460 –> 00:26:45.510
Jason Mefford: You want to belong to those kinds of communities before you have a problem okay it’s just like health insurance and life insurance okay.
00:26:45.900 –> 00:26:55.860
Jason Mefford: So that’s that’s the second one now the reason that i’m talking about this right now, too, is, if you are a chief audit executive whatever you do.
00:26:56.430 –> 00:27:08.100
Jason Mefford: You know, take a look in the links here if you can’t find it here email me message me on linkedin but the chief audit executive forum, we only let new people into that community.
00:27:08.490 –> 00:27:19.110
Jason Mefford: twice a year Okay, the reason i’m bringing it up, and the reason i’m telling you right now, this is one of those times so you got to get in if you want in.
00:27:19.500 –> 00:27:32.040
Jason Mefford: You gotta let me know and we got to talk about it, because if you want in you need to get in before the end of March, because at the end of March we close it back up again.
00:27:32.430 –> 00:27:40.770
Jason Mefford: And you won’t have another opportunity to join until later in the year later in the fall early winter so.
00:27:41.460 –> 00:27:48.690
Jason Mefford: Again, if you’re looking at this and you’re like holy crap I totally need this, I totally need to be in a Community like that.
00:27:49.020 –> 00:28:02.610
Jason Mefford: That is consistent confidential and it’s a community and I need that and I need it now well if that’s what you’re saying to yourself reach out, and let me know go to go to the there’s links everywhere online for it.
00:28:03.150 –> 00:28:13.920
Jason Mefford: But go to it, and if it’s for you, then, make sure that you express your interest and get into the Community now because it’s closing at the end of March.
00:28:14.730 –> 00:28:22.590
Jason Mefford: Okay, so we talked first about diversifying your skills doing things like training getting certifications.
00:28:23.250 –> 00:28:34.740
Jason Mefford: Both technical, as well as soft skills we talked about getting into a Community and so again, depending on where you’re at in your career is going to depend on.
00:28:35.010 –> 00:28:51.540
Jason Mefford: Which Community might be best for you, but again find some kind of community to belong to, because inevitably these things do come there will be some hiccup in your career there is for everyone.
00:28:52.620 –> 00:29:00.900
Jason Mefford: Okay, now the third one i’m going to touch on briefly and then we’re going to wrap for the day because, like I said there’s going to be more to come as well.
00:29:01.230 –> 00:29:05.670
Jason Mefford: Because i’m going to go through and i’m going to show you exactly all of the different pieces and parts.
00:29:06.030 –> 00:29:17.280
Jason Mefford: That you need to get in place for you to be able to truly have career insurance i’ve talked about to now i’m going to talk about one and i’m going to leave the other ones until.
00:29:17.700 –> 00:29:26.790
Jason Mefford: A future episode and don’t worry i’ll put this, all together, probably in a training course for people to be able to understand and know.
00:29:27.630 –> 00:29:39.450
Jason Mefford: Exactly what to do to be able to get career insurance for yourself because, again as we’ve been talking about this i’m sure you have already seen.
00:29:39.780 –> 00:29:49.050
Jason Mefford: The value of these points that we’ve been talking about and how much, in fact, you need this in your career as well.
00:29:49.860 –> 00:30:10.050
Jason Mefford: Okay, the third one for today and then we’re going to wrap up on this episode, but the third one actually relates to financial stability okay now what does this mean well if you don’t have any savings and something happens, you are going to be up shits creek.
00:30:11.280 –> 00:30:19.140
Jason Mefford: Now that was a great show there’s a there’s a TV show called shits great that’s private inside joke that you probably didn’t get but anyway.
00:30:19.530 –> 00:30:28.500
Jason Mefford: there’s that there’s that term right that you’re up shits creek because what what there’s two reasons why, having financial resources.
00:30:28.830 –> 00:30:39.840
Jason Mefford: helps you in having this career insurance and there’s two different reasons, one is, if you lose your job, it is going to take you some time.
00:30:40.260 –> 00:30:51.210
Jason Mefford: Before you get a new job, now that might be very quick right, but for most people it’s several months, at least at least you know initially.
00:30:51.780 –> 00:31:01.050
Jason Mefford: And that’s and that’s on the quick side Okay, so if you lose your job you don’t want to get kicked out of your House, do you know.
00:31:01.560 –> 00:31:11.250
Jason Mefford: And so, as a result of that, having some financial resources set aside and savings or other liquid assets that you can use.
00:31:11.790 –> 00:31:27.690
Jason Mefford: will help you to be able to bridge you from the one job to the other job okay now depending on your level, you know and how much how much you’re making is going to vary, but i’m going to give you some rules of thumb for you to start considering.
00:31:28.890 –> 00:31:39.930
Jason Mefford: And again, the reason i’m telling you this, these are kind of numbers that i’ve heard for here in the United States, but about 80% of people in the United States are living paycheck to paycheck.
00:31:40.440 –> 00:31:48.450
Jason Mefford: Which means if they lost their job in two to four weeks, they would not have any money.
00:31:48.960 –> 00:31:57.270
Jason Mefford: That means they couldn’t buy groceries they couldn’t pay their rent they couldn’t pay their car payment and so any little hiccup.
00:31:57.990 –> 00:32:13.830
Jason Mefford: could end up putting you very, very seriously at risk financially so that’s the one side or the one reason for having some financial resources is, if you lose your job it helps to bridge you until you get your next job.
00:32:14.640 –> 00:32:24.750
Jason Mefford: Now the second reason why this is so important for you have you ever been in a job that she didn’t really like maybe you hated your boss Okay, I was just watching a.
00:32:25.230 –> 00:32:32.970
Jason Mefford: preview again there’s a great movie called horrible bosses about three people that just their their bosses are horrible okay.
00:32:33.630 –> 00:32:40.800
Jason Mefford: But the problem is, you know, sometimes you’re in a job that you don’t like or you’re working for somebody that you don’t like.
00:32:41.280 –> 00:32:52.290
Jason Mefford: But people are stuck in that position because they don’t have the financial resources to be able to leave okay in fact there’s a great.
00:32:52.830 –> 00:32:58.530
Jason Mefford: there’s a great clip from another movie called the gambler had mark wahlberg in it and.
00:32:59.310 –> 00:33:03.990
Jason Mefford: john Goodman that it was the john Goodman character there’s there’s a scene, you can find it on YouTube.
00:33:04.500 –> 00:33:17.190
Jason Mefford: But it’s but it’s about Fuck you money Okay, and the idea is that if you have some money set aside, if you have your House paid off, if you have money you know earning you earning your money in the market let’s say.
00:33:18.330 –> 00:33:23.550
Jason Mefford: If you don’t want to do something right, and this is what the character said he was giving this little dialogue.
00:33:24.180 –> 00:33:28.620
Jason Mefford: to people in there, and he says, you know when you have that you have Fuck you money.
00:33:29.070 –> 00:33:37.500
Jason Mefford: Which means if somebody asked you to do something you don’t want to do it, you can say Fuck you because you don’t have to do it okay.
00:33:37.920 –> 00:33:45.570
Jason Mefford: So what does that mean for your career well if you’re working for a horrible boss if you’re working for a horrible company.
00:33:46.050 –> 00:34:01.800
Jason Mefford: If you’re stressed out if you hate what you’re doing, but you can’t leave because you don’t have the financial buffer you don’t have that Fuck you money and as a result of that a lot of people stay in jobs and take abuse.
00:34:03.180 –> 00:34:16.320
Jason Mefford: That ends up affecting their health, it literally affects their health in a negative way they get stressed out they get sick they get physically sick because they don’t have.
00:34:16.710 –> 00:34:29.910
Jason Mefford: Those resources to be able to say you know what i’m done i’m going to move on, I don’t need this job right i’ve got money i’ve got a cushion i’m Okay, for several months i’m going to go find something else.
00:34:30.630 –> 00:34:41.340
Jason Mefford: Okay, in fact, you know, one of my sister in law’s has just been going through this she has not been happy in her job for two or three years okay.
00:34:41.700 –> 00:34:49.620
Jason Mefford: So she has been taking some of that abuse and stress for two or three years.
00:34:50.070 –> 00:35:00.240
Jason Mefford: because she wasn’t in a financial position to be able to leave her job without having another job right and finally she’s kind of gotten, to the point where.
00:35:00.840 –> 00:35:11.880
Jason Mefford: Now she does she’s going to take six months off and then she’s going to look for something else how is she able to do that because she has those financial resources now.
00:35:12.600 –> 00:35:26.220
Jason Mefford: Okay, so that’s the third pillar that I wanted to just briefly kind of introduce to you i’m going to talk more about this in the future don’t worry don’t worry okay i’m going to give you a more but here’s some basic rules of thumb for you.
00:35:27.450 –> 00:35:33.030
Jason Mefford: If you’re newer in your career, you know, and maybe you know, between a new hire.
00:35:33.840 –> 00:35:43.230
Jason Mefford: And somebody that’s kind of at the manager level a good rule of thumb is to have three to six months of your living expenses in savings.
00:35:43.590 –> 00:35:50.100
Jason Mefford: Now, again I know you’re going to say, but I don’t have that i’m one of these 80% of the people that are living paycheck to paycheck.
00:35:50.520 –> 00:35:59.940
Jason Mefford: I understand that i’ve been there to myself Okay, I understand, trust me I under stand Okay, but here’s the thing.
00:36:00.390 –> 00:36:11.640
Jason Mefford: Now that you know you probably need three to six months, look at what you have if you don’t have three to six months you’re not going to get three to six months next week.
00:36:12.090 –> 00:36:22.470
Jason Mefford: But what you can do is you can start taking a little bit, I suggest 10% 10% of what you bring in put aside in your savings.
00:36:23.250 –> 00:36:28.290
Jason Mefford: The more you do that, and over time you’re going to get to that three to six months.
00:36:28.800 –> 00:36:38.700
Jason Mefford: pretty quickly actually much quicker than you would realize, if you are diligent about doing that, which means you get paid you move 10% and the savings before you start spending.
00:36:39.150 –> 00:36:47.040
Jason Mefford: You you, you make do with the rest Okay, if you wait until the end of the month, to see what money is left over.
00:36:47.700 –> 00:36:57.210
Jason Mefford: promise you there ain’t going to be any money left over So the first thing you got to do is just move it into savings pretend like you never got it and, eventually, that will end up.
00:36:58.290 –> 00:37:08.730
Jason Mefford: Building up over time so three to six months is your first goal now if you are an executive, so if you’re a director Vice President chief audit executive.
00:37:09.090 –> 00:37:19.080
Jason Mefford: Really, you should have six to 12 months in the Bank and the reason for that is, those positions it takes longer to fill.
00:37:19.560 –> 00:37:33.900
Jason Mefford: And so, if you end up finding yourself, out of a job, the reality is it’s probably going to take you six six to 18 months to find another position if you lose your job okay.
00:37:34.470 –> 00:37:45.930
Jason Mefford: And so you know, again, these are just kind of some rules of thumb i’m going to talk a lot more about this because, again I finally realized and had an Epiphany here the last week or two.
00:37:46.350 –> 00:37:56.910
Jason Mefford: That all of these things that i’ve been working my ass off for years and years and years to try to bring to everybody, are all fitting together and it all comes around.
00:37:57.240 –> 00:38:10.920
Jason Mefford: To this idea of career insurance and helping you to be able to have that career insurance, so that you again, you protect yourself against the possibility of losing your job.
00:38:11.310 –> 00:38:20.370
Jason Mefford: Both of being fired but also if something happens, you know downturns happen layoffs happen if you find yourself in that position.
00:38:21.420 –> 00:38:30.390
Jason Mefford: How can you be most prepared so that you can bounce back quickly into your next job okay so i’m going to wrap for this week.
00:38:30.960 –> 00:38:39.960
Jason Mefford: As I told you, I am going to be talking much, much more about this in providing a lot more resources for those of you that are interested.
00:38:40.350 –> 00:38:45.900
Jason Mefford: In actually getting this because, as I as i’ve told you in in working with people for a long time.
00:38:46.320 –> 00:38:53.940
Jason Mefford: If you have these things in place if you develop your own career insurance policy and i’ll show you how to do it.
00:38:54.510 –> 00:39:02.550
Jason Mefford: If you have that in place, you will experience much, much less stress in your life, you will be much, much happier.
00:39:02.940 –> 00:39:10.710
Jason Mefford: And you’ll be able to provide for you and your family, which is effectively what my goal is for you to write, I want you to have a happy.
00:39:11.100 –> 00:39:21.540
Jason Mefford: and healthy life and career surrounded by family and friends that love you, that is what I want for you and so i’m going to keep preaching.
00:39:22.410 –> 00:39:42.630
Jason Mefford: preaching from the podcast to be able to help you in getting exactly that by you know, helping you put all of these different pieces in to place okay so with that my friends go out have a great rest of your week and i’ll catch you on the next episode of jamel is Jason see ya.