Time is money. Money buys time. You can get more of one by investing in the other. Both are resources you can use to create a more meaningful life. Things that are important to me are; being close to my family, being creative, travelling, connecting with brilliant people, and solving problems that will leave a dent on the world.
The way I do this is by trading money for time and then invest that time on those things. There’s a bunch of ways to do this, but here’s a quick list of how I spend money for time.
- Grocery service
- Travel agent
- Laundry service
- Hiring great people
- Money manager
- Property management
I could do a whole post on the services and people that I use, but that’s not the point. The point is how you should look at money and where you should be investing your time. There’s no point in being successful financially if you don’t create time to spend it with those you love the most.
I either hang out with my family and friends, or work. That’s it. On the surface some might think I’m lazy or I like to waste money – but that’s because they don’t understand how and why I do this. I only work on things that I’m uniquely qualified to do and that will act as a force multiplier to create value. Value in my life as an entrepreneur means wealth and relationships. Anything else is a distraction and huge waste of my time.
The way I look at “investing” my money is in myself or other people. I’ve always been an entrepreneur and have an active company that I’m working on – today it’s Clarity.fm. I also invest in real estate. The other way I invest is in other people as an angel investor. Today I’ve been involved in 15 other companies and have already made a positive return even though 10+ of those companies are still running.
What I don’t waste my money on is car payments, consumer debt, and other expensive crap that’s not useful. If I can’t buy it cash – and will have time to use it – I don’t buy it. Furthermore, most things can be rented – no need to own. On that note, I’d much rather invest in a company or startup then buy a new car. It’s just more fun, and it plays into what I said early: “connecting with brilliant people”.
The truth is I didn’t start off this way. For a long time I did everything myself and nearly got burnt out. Over the past few years I’ve change things around to get more time and it’s allowed me to be more present, focused and effective.
I’m blessed each day I get to create great product, with brilliant people, for customers that I love. I’m fortunate to be able to travel to visit my friends and family all over the world. I wanted to share some of these beliefs and hope to inspire you to look for was you can trade money for time, then use that time for opportunity to create more meaningful value (wealth), or just spend more time with your family.
We don’t need more stuff. We need more time.