A good pilot knows how to take off but also knows how to safely land the plane after the flight. A good career or business is like a plane flight. It taxis on the tarmac, takes off, cruises in the air, and eventually lands back on the ground. It is wise to navigate all these stages mindfully.
We spend almost 20 years in school preparing for the job. If we are lucky to be employed, we go through numerous development and training programs. However, we are never really prepared for life after employment. For many of us, the thought of life without a job is unimaginable. But just like the plane in the sky, we have to exit our jobs eventually. What really matters is if we can land back safely without crashing.
A good landing is smooth and comfortable, and a skilled pilot can easily pull this off. Same thing with leaving the job market. You don’t want a rude awakening of being thrown out of your apartment because of an unpaid mortgage.
To ensure a smooth landing, you need to take care of two things. First, you need to replace your salary from the job with multiple streams of income from your investments. These could be a mix of bonds, rentals, shares, businesses, etc. You build these assets over time while still on the job. The runway is built before the plane takes off.
Second, you need to find a meaningful alternative career to occupy you outside formal employment. Ideally, this parallel career is built around your passions and interests, and it is something you do whether it is profitable or not. Again, this alternative path is built while you are still on the job. Don’t wait to be fired, then you start learning how to play golf!
It is generally a good thing to have an exit plan before starting anything. Beginning with the end in mind can save you a lot of heartache down the line, but it also ensures that you have a smooth landing.
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