What Brett Favre taught us about personal finance
You might be a star, but you're still expendable.
- Bing: More on Brett Favre
Backstory, short and sweet: Green Bay icon Brett Favre
retires, changes his mind, but the Packers have already transitioned to
another quarterback. Favre will wear green this season, but the logo
will be that of the Jets.
So what does this have to do with personal finance? RacerX says:
Everyone is expendable. You might be the best in your field, but that's still no job guarantee.
"If you don't own the business, you don't hold the cards."
Don't make rash decisions about the big stuff. You'd think that after all the time Brett mulled over retirement, he would have been absolutely sure about his choice. Know thyself.
We'll add a few to the list:
Know how to bargain. The Jets got Favre in exchange for one draft pick.
Value the contributions that older employees can make. Favre, now 38, last year had one of his best seasons.
Even RacerX, a Cowboys fan, can feel the pain Brett's move has caused many. He says, "It's a sad story for a sports hero, team and fans to learn that even the best, eventually, are displaced. But it is a lesson we all should know too."
Published Aug. 12, 2008
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ABOUT SMART SPENDING
Editor Bev O'Shea lives and works in the foothills of the Appalachians. A former copy editor for The Atlanta Journal-Constitution and the Orlando Sentinel, she joined MSN Money in 2007. She's a fan of sunsets, college football and free shipping, among other things.
Having worked as a writer, reporter and editor for more than 25 years, Editor Julie Tilsner is the sort of person who can't help but correct grammar in Facebook postings and on billboards. She's written for BusinessWeek, the Los Angeles Times, Parenting, Redbook, AOL and others. She lives in Los Angeles County with her family and loves to drink wine and practice yoga, although not generally at the same time.
A writer for MSN Money since January 2007, Donna Freedman won regional and national prizes during an 18-year newspaper career and earned a college degree in midlife without taking out student loans. She also writes about smart money tactics for magazines and on her own site, Surviving and Thriving.
Mitch Lipka has been warning people about scams and shining light on questionable business practices for more than 20 years. Mitch, the consumer columnist for The Boston Globe, has also been a reporter and editor at The Philadelphia Inquirer, Consumer Reports, South Florida Sun-Sentinel and AOL. He won the 2010 New York Press Club award for best consumer reporting online and was honored in 2011 for his reporting on child product safety.
Marilyn Lewis is an award-winning writer with a passion for getting readers clear, straight information that helps them stay out of financial trouble. A former reporter for The San Jose Mercury News, she works from her home in Port Townsend, Wash. Contact her at MarilynLewis@Outlook.com.
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