Time is the most valuable thing you have and can’t get more of. Are you optimizing and making the most of yours?
Chances are that a lot more of it is slipping through your fingers than you realize.
Time Is Money
This doesn't mean rushing around like crazy. In fact, while some hustle is good, this is often the first sign you are probably time and money broke.
If you are reading this you already probably have some handle on the fact that time is highly valuable. It’s the most valuable thing you have.
If you are still working a job, then you have probably kept trying to get paid more for the time you give away to your employer to build their dream every day. Yet, no matter what career you are in, the amount you can get paid for your time is going to cap out somewhere. That may be okay for you if you truly love what you are doing, love working for someone else, and are generating enough surplus income to invest as well.
As a business owner, that cap on your income can be a lot higher if you do it right. Though if you are still in the trenches, working in the business, instead of on it, then you are still in the same trap of trading your time for money. Get out of that trap as fast as you can. Because the numbers never add up.
Is Your Money Working For You?
If you are reading this, then you are probably also aware of the importance of having money work for you. You can greatly free up and multiply your time when your money is working for you in investments, making you money in your sleep via cash flow, appreciation, etc. It’s like cloning yourself, and the compounding benefits are fantastic. Even better, many individual investments can churn out more cash than many people make in an entire year. A couple of house flips a year can earn you more than a Wall Street banker or Google software engineer. So could a small apartment building.
If you have your money working for you, then make sure it is also working as hard as it can for you, soundly, and producing income during the time it is working (24 hours a day).
What many highly intelligent individuals, and even seemingly successful investors overlook or fail to fully appreciate is OPT. The ability to leverage Other People’s Time. In this way money can buy you more time.
This includes people working for you in a business of your own, or to help with your investments. Make sure that you are actually fully utilizing them. Let them do the work you are hiring them for, and the best work that they can do. Be sure you are paying well, because you want to get good value. Not to just give yourself a new minimum wage job of being a micromanager.
Another extension of this is leveraging Other People’s Experience. For example, when you invest with a great fund manager, you are leveraging and buying years of their life. Often 10, 20, 30 years or more of experience, connections, reputation and infrastructure building. Typically a whole team of experts as well. It’s bending time, that you would have to otherwise put in yourself to get to the same level of expertise and results.
So, are you getting the most out of your time and money? If not, what’s your next step?
Find out more about investing in secured debt and real estate, go to NNG Capital Fund