You may have heard a thousand times that “time is money.” For me and perhaps for you, the reminder to use our time well was a needed and useful lesson.
As we grew into adulthood and established our lives, careers, homes, and everything else, money seemed scarce and time was abundant. Using time to get money made a whole lot of sense.
Things change as we age, you may have noticed. A client shared a revelation that came to them shortly after they retired: “I spent all those years worrying about having enough money in retirement, and quickly learned that the scarce thing is time, not money. I’ll run out of time long before I run out of money.”
This conversation led us to the thought that money is time. The point was driven home recently when I received a compliment about my lawn from a neighbor down the street. “You must spend a lot of time taking care of it,” they said.
I was forced to admit I spend virtually no time on it.
I mow my lawn with a checkbook. That same tool takes care of the landscaping and keeps my home clean. It has more functions than a Swiss Army knife. Time, for me, is a scarce resource—a valuable commodity. It is a blessing to be able to spend money and get time.
From time to time you have heard us advise “invest wisely and spend well.” These things mean different things to different people. A very dear friend loves to mow the lawn, tinker with lawnmowers, fool around with the shrubbery. Good for them, I say. One of the ways they spends money to gain time is by paying us to help with their financial affairs.
To our young clients, a reminder: time is money.
To our not-young clients, a different version: money is time.
If you would like to talk about this or anything else, please email us or call.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.