Phase 1 of our lives could be characterized as time spent establishing stable financial foundations. Anyone aged 18 to 60 likely fits into this phase. Most of us spend these years focusing on careers, making enough money to support ourselves and sometimes to help support others. These years could be characterized as the “accumulation” phase.
Some people will hyper focus on money, power, and fame; we will return to these people when we talk about moving to phases two and three.
Achieving financial independence is not a prerequisite to leading a meaningful life, but it does have one important advantage – it will give you opportunities to explore possibilities that you likely would never otherwise have had. It gives you more freedom to discover purpose and meaning in Phases 2 and 3.
Here are the relevant posts on the site for your consideration on building a stable financial base.
Understanding Your Relationship With Money
Assessing Your Skills and Knowledge
Applying Your Financial Skills
Assessing your financial health
Investing and Financial Advisers