Golden Handcuffs are when your current income level would be reduced by taking another occupation with entry level pay and you would have to drastically alter you current living conditions for this change.
You make enough money to support your current lifestyle and if you quit or changed occupations than the short term money loss would force your current living standards to change. This fear of change keeps you bound to your current job. So, you can't change jobs, start a new occupation, or new business due to sudden short term monetary factors. LOSS OR REDUCTION OF INCOME!
Where does the Golden Handcuffs get its strength to bind and paralyze the captive:
- Weekly Paycheck - High enough that change downward would be painful
- Home Mortgage - Must be paid every month or lose home
- Car loans - Must be paid every month or lose car
- Eating Out - Makes you feel special, being served
- Leisure Activities - Takes your mind off the dread of another long work week ahead
- Changes to Lifestyle - Fear Paralyzes
It could be any thing that your pay check supports. But, I would say that the strongest and most influencing part of the list above is just the fear of the unknown.
I'm sure when people think about changing jobs and or careers the Devil fills their minds with the following thoughts and fears:
- If it doesn't work out I'll lose everything, my house, my stuff in my house, etc.
- If it doesn't work out people will think I'm a failure
- We will have to move and my kids will have to be displaced from their friends
- Wife tells you to keep working and not fill your head with fanciful thoughts
- Your Mother, Father Brother, Sister, etc. tells you that the economy is too risky right now and it is better to have any job that pays steady and is stable
The reasons could be anything, the point is that everyone is scared to death of change. Change is the unknown, the untried, the area of our life where we have never been.
The only way people make changes in their lives is when the pain is greater than the fear of chnage. I would guess the pain never becomes greater than their fears and people don't change jobs and or career paths.
But I tell you that the risk involved with your job is greater than most people realize. Your job could change in a moment, see an partial list of possible items that could change your life:
- Fired
- Corporate Downsizing
- Company Buy-out
- Corporate Bankruptcy
- Lay offs
It could be any thing of which are not under your control, this to me is scary. The thought of my life changing in an instance due to other peoples decisions and actions and through no control of my own.
So, what do we do, stay where the we know what the pain is of our current occupation where we can tolerate the pain until we have a slow death. Or do we risk the known for the possibility of the unknown and make a change to see if the new life is the life of our dreams. That is the question and that is the key to unlocking the Golden Handcuffs.
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