Will Rogers used to be fond of advising people to buy land “because they are not making any more of it.” The same can be said for time. Whether we like it or not, our time on Earth is limited – although none of us really believe that we are running out of time – at least not yet.
Society seems to allude to this fact by suggesting a “retirement” age of 65 when you will be able to do whatever you wish with your time (because you are running out of it no doubt). This begs the question, do I need to reach age 65 before deciding what the best use of my time is? Is it a realistic question to be asking during my earning years?
In our experience when people say “I need more time” what they are really communicating is they want to spend less time on activities that may be remunerative, and more time on personal interests that may have little to no economic value.
This can be a tough concept to appreciate if you’ve been conditioned by spending decades of your life trading your time for compensation. If you view your time exclusively through the lens of how much money can you make, or how much money can you save by doing things yourself, you may realize all too late that the means (of building an estate) has become an end in itself.
So how can you break out of this trade-off of time for money? I think it begins with the word “enough.” How much is enough – for you? How much money is enough, how much of your time do you want to devote to the further feathering of your nest? How much time do you want to spend with friends and family? How much time will you allocate to exploring the world or expanding your understanding of whatever may hold your interest?
The answer to finding more time begins and ends with you! Having a financial plan can give you the confidence to “let go” of your desire to squeeze a little more juice out of the lemon at work. Our retirement coaching services can offer you a framework for deciding what you view as the best use of your time.
As they say, time waits for no person. If you are feeling that you need more time, we can help to give you that time. All you have to do is ask.