Why the Learn, Earn, Return Life Cycle Doesn’t Work

Does it have to be this way?

This is part of a weekly series I’ll be publishing each week during COVID-19.

A decade ago, I heard of the Learn, Earn, Return life cycle. The concept is simple and basically characterizes one’s life into 3 neat phases:

Learn. Most people will spend at least the first two decades of their life in formal schooling. For ~35% of the U.S. population, formal schooling includes a college degree or more, which takes you to about age 25 or so.

Earn. The next phase of life is all about earning. For many, this is where they enter a career and try to move up the organizational ladder. For many, this means Corporate America. Career span varies but people will often work another 30 years or so, trying to maximize income and lifetime earnings.

Return. After an illustrious career, many people start to wind down and retire at or around the age of 60. This is when you travel more, spend time with family, and generally pursue interests or hobbies that you didn’t have time to when you were working.