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Virtually everybody has spent time in the E (Employee) sector of the income quadrant. This is what our education system is designed to promote. It is where most of our parents and friends work. It has been a secure and comfortable segment for several generations. When I was growing up, I was advised to:
Get a good education
Get a good job with benefits.
Everyone said that this would give me a secure and comfortable retirement.
It was great advice 50 years ago. It was good advice 20 years ago. Today, it doesn’t work. The E-Sector is tarnished. Job security is gone. Benefits are going. And what about retirement? I am not counting on Social Security and we all know that company retirement plans can collapse.
There are still good jobs but today’s employee needs to look at employment differently than a generation ago. Today, you have to think of a job as one piece of your life plan not a total life plan. Perhaps your job provides income to fund an investment portfolio that will make you independent but the days of getting a job and securing your future are over. You probably need to diversify your income with earnings from other sectors of the quadrant. If you work in the E sector, it will be important to consider developing income in the other sectors either to supplement your E income or to replace it.
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