"Lost time is never found again." - John Wooden
Pregame Prep (today's overview)
Today I'm discussing a realization that shifted my life's direction and helped me finally take the final step to financial success and personal fulfillment: time is more valuable than money. You might be thinking, "How can time pay my bills or put food on the table?" Yeah I get it money is necessary to meet our basic needs, but the allure of money also clouds our judgement and our decisions. Once you understand the true value of time it will help you prioritize your life, you will make better decisions, and ultimately achieve your goals of financial freedom and independence. Let's talk about why time is more valuable than money so you too can change your life and belief system!
Film Review (my experience)
For 20 long years, I was stuck in a job I despised, constantly butting heads with corporate leadership who cared more about numbers than customer satisfaction. As the manager of a technical team who supported the end users directly it was a daily struggle for me go to work every day, and put on the face of a leader to secure my team's buy in. Despite my frustration, I stubbornly believed that my paycheck was worth the anguish I endured. I thought the money was worth my time, I thought the money was worth me not chasing my dreams.
As a huge FIRE advocate (I still am for the most part) I diligently saved and invested. I carefully planned exactly what it would take for me to 'retire' and when my Financial Independence (FI) Day would be. But here's the thing: I kept moving the goalposts for when I would finally leave my job. Instead of needing X amount of dollars, I thought I needed XX, and then XXX. It's a common trap that many of us fall into. I see it all the time. My FI day kept moving because of fear, the closer I got the more afraid I became.
That job took a toll on my emotional and physical health without me fully recognizing it. My personal relationships also suffered because no matter how much I thought I could separate business from personal life it just wasn't possible. The day I finally realized that time is a nonrenewable resource and more valuable than money was a turning point in my life. This day of FI was about way more than finances it was about taking my time back!
The question you have to ask yourself is this: am I spending my time responsibly? And if the answer is no its time to build some new plays. I don't think anyone should just retire and hit the beach for the remainder of their life, but if that's what you want to do go for it! I do believe that people (myself included) make excuses of why we need to stick it out in miserable conditions and expect some type of award. We move our goals the closer we are to living our dreams because the fear sinks in when our dreams move from concepts to reality.
Most people say if they could get $10,000 a month in passive income they'd quit their job tomorrow. For many of you, that might sound like a HUGE number. You are probably thinking this is a no brainer, but I'm in a mastermind where 3 of the people in the group are already making that in other income streams, yet they are still working. Your dreams probably don't cost what you think. You are probably closer to your dreams than you even realize.
Offensive Game Plan (actions to obtain freedom)
Discover your purpose: (write your eulogy) Understand the value of time by knowing your "why." This clarity of purpose will guide you toward financial independence and a life aligned with your passions and values.
Take time to dream: What do you really want, and its not a million dollars. I know most people think it is, but instead think about what you would do with that million dollars... Then figure out how you can start doing it right now on a smaller scale. Start now, dream today. This is so important and overlooked.
Build diverse income streams: Regain control over your time by creating multiple sources of income, such as investments, side hustles, or passive income opportunities like rental properties. A diverse income portfolio ensures financial stability and flexibility in managing your time.
Invest in personal growth: Dedicate time to self-improvement and skill development. By continually learning and growing, you enhance your marketability and empower yourself to seize new opportunities on your path to financial freedom.
Defensive Game Plan (actions to defend your freedom)
Set achievable financial goals: Avoid moving the goalposts by setting realistic financial targets and remaining committed to them. Staying focused on your goals helps maintain motivation and ensures steady progress toward financial independence.
Embrace your unique journey: Stay focused on your own progress instead of comparing yourself to others. Remember that everyone's path to financial success is different, and what works for one person may not work for another.
Overcome fear with an abundance mindset: Break free from a scarcity mentality and excuses that hold you back from pursuing your dreams. Focus on the actions you need to take and tackle challenges as they arise, believing that ample opportunities are available to you.
Master time management techniques: Develop habits that maximize the use of your time, such as prioritizing tasks, creating to-do lists, and eliminating distractions. Effective time management allows you to concentrate on activities that align with your financial and personal goals.
Post-Game Review (key takeaway)
Recognizing that you time is more valuable than money can transform your journey toward financial freedom and personal fulfillment. Time is non renewable and the time you waste you won't get back. By managing your time effectively, setting achievable goals, avoiding comparison with others, and embracing an abundance mindset, you can make informed decisions that lead to a life of purpose and success.
I'm not ignoring money is also necessary to meet basic needs, access resources, and create opportunities. I'm encouraging you all to find the correct balance of both time and money as you build your playbook to freedom. So many times your dreams are already obtainable you just keep moving the goal posts, or refuse to look because of fear. Overcome the fear, and I look forward to us growing together as we continue on this exciting journey.
Hey Coach! (Connect with me)
If you enjoy this post please consider signing up for email updates.
If you would like daily thoughts and insights you can follow me on Instagram @playbooktofreedom
If you want to chat more about time and money: Lets talk