The financial
lives of successful people can be broken down into two very distinct
phases:
During Phase One, they typically go to school, get a job,
buy a home, raise a family, put their kids through school, and
save money for some time in the future. But, the one common element
to all of these events is that during Phase One, they are all
dependent on the income from work to support their lifestyle.
During Phase Two, they tend to slow their lives down and
focus on the things that are most important to them, like their
families. They spend more time taking vacations and with hobbies
that they've always wanted to dedicate more time to. They might
even choose to work doing something they've always wanted to do,
but perhaps were unable because of income restraints. But, the
one common element to all of these events is that during Phase
Two, they are no longer dependent on the income from work to support
their lifestyle.
The big question is how did they get from Phase One over to Phase
Two, because the transition is much more complicated today than
it used to be.
There is a certain point in our lives, typically between the age
of 55 and 65 after we've spent a lifetime working, when all of
us sort of stop, reflect, and wonder if we have saved and accumulated
enough money to be able to stop working, or work doing something
we've always wanted to do, yet still afford to live our lives
exactly the way we want without running out of money.
This is what is known as The Employment Dependency Crossroad™!
