Temecula Financial Advisor Provides Insight On Wisconsin Labor Union Uproar

Wisconsin's bid to take down labor unions leaves many pensioned employees in a state of limbo- and the effects could be widespread. Plans by Wisconsin Gov. Scott Walker (R) and the legislature to get rid of collective bargaining (the means used by public unions to secure pay and benefits) for most public employees could roll into other Midwest states as a wave of small-government conservatives elected in 2010 take on their Democratic counterparts. The streets of Madison, WI have begun to mirror Cairo as more than 25,000 union Wisconsin protesters amassed last Friday morning in and around the Capitol to protest the governor's plans. Earlier in the week, there had been as many as 40,000 protestors. Schools were canceled, and one rally lasted a staggering seventeen hours.

At the core of the controversy is the livelihood of thousands of workers and their capacity to represent themselves as a union, one they have exercised now for over 50 years. Losing this priviledge could affect not only their pay, but spill additionally into benefits such as healthcare and retirement plans. Once figured to be the epitome of security in America's Heartland, current union laborers may find themselves in a position where they are required to pay more for these coveted benefits.

This political tornado firmly establishes the fact that in today's economy, no one is immune to problems and the "American Dream" can be threatened even for those in what were once thought to be the securest of jobs. What has become understandable is that regardless of your personal beliefs or political affiliation, the concept of "security" has forever changed. Undoubtedly, our borders are nowhere near as secure as we'd like to assume, 9/11/2001 brought to light with crushing power the realization that we can not take for granted our personal security, the banking collapse made us crucially aware that we are not financially secure, and now the peril to collective bargaining is yet another setback to this false sense of security.

So where do we go from here?

As a Temecula financial advisor for over 20 years, I would suggest that on some, if not many levels, personal responsibility must supplant our dependence upon employers for refuge. This starts with financial responsibility and active asset management. While we may not be able to fend off the external forces of international violence or domestic threats, we can take actions to secure our personal financial "borders". This means ample retirement planning, intelligent budgeting, and wise financial decisions. The saying has always been that "an ounce of prevention is worth a pound of cure" and the time is now to assume responsibility and prepare for the future.

By: John Dubots

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Learn more about active portfolio management and its benefits by contacting John Dubots, Temecula financial advisor, with Dubots Capital Management. Dubots has over two decades in the industry and will provide a free consultation to answer all of your portfolio management questions.