We all want more time
Time is a valuable resource. It helps you create better relationships, have greater success at work and more memorable moments. But it never feels like you have enough of it.
I recently read this post on Wait But Why, and it’s reminded me of how I view my time and money. Money helps me achieve my goals, give my children a head start in life and have the retirement I dream of. Time, used wisely, makes them happen. The blog lays out the human lifespan visually by years: https://waitbutwhy.com/2014/05/life-weeks.html
This may not be easy to grasp, but the maximum number of days you can hope for in your entire lifetime fits easily on a single page. While days flutter by, memorable moments and events remain top of mind.
An example of Time
To illustrate this, lets take a look at an entrepreneur from South Africa called Tim, and he is 44 years old. Being optimistic, he can hope to live to about 90, that means he has a little under 50 winters left:
Tim and his wife enjoy a luxury trip twice a year, so they have at least 92 chances to see the world together. When he reflects upon his life as an entrepreneur, he knows that there are, and will be, sacrifices along the way. These sacrifices often come in the form of time.
Let us consider Tim’s parents (who are in their mid-70s). During his first 18 years, he spent time with his parents during at least 90% of his days. But since heading off to university, getting married and later moving abroad, Tim has probably seen them an average of only five times a year, for an average of maybe two days each time. 10 days a year. About 3% of the days he spent with them each year of his childhood.
Let us continue to be optimistic and say Tim is one of the incredibly lucky people to have both parents alive as he nears retirement. That would give him about 20 more years of coexistence. If the ten days a year basis holds, that’s 200 days left to spend time with them. Less time than he spent with them in any one of his 18 childhood years.
The harsh reality is that while you are not at the end of your life, you may be nearing the end of a loved one’s.
This is not meant to scare you but inspire you to see life differently, and to make the most of the time you have left on this planet. To achieve that, I would like to share 3 quick strategies with you.
1. Have no regrets!
Happiness comes from having strong relationships and/or great experiences. I know it is important for you to spend time with your loved ones now and in the future.
You want to achieve this without having to sacrifice too much (or anything at all) – the best of both worlds.
With proper financial planning, it can be done, if you stick to a few simple rules:
- Spend less than you earn.
- Take a long-term view.
- Avoid reacting to the media.
2. Remember time flies
It is hard for us to put the future into perspective because we are so focused on today. Hopefully after reading this, you will have a better perspective on what is truly valuable in your life, and what money means to you. From there, you will be able to have a better relationship with your money, meaning better control of your future.
Even for high-earners and those who enjoy the finer things in life, keeping a grip on your spending makes the world of difference.
Just ask Warren Buffett.
3. You need to make time count
Money does not buy happiness, but it can help you afford the future you deserve, and the many memorable moments along the way.
What is important is to empower your financial decisions so you can have a happy, healthy, and prosperous life.
It starts with having access to unbiased and trusted financial advice. Who knows, the knowledge gained may get you to your goals sooner. It may even buy you a little more time to have more enriching experiences.
Source: Sam Instone, Director at AES International, Carl Richards , Behaviour Gap.