This is a question that strikes at the very heart of why you are working. Are you financially dependent on your job, or are you working to satisfy an abundance mentality – or perhaps because you’ve just never done the maths of retirement? At what point does it become enough?
When you are in your 20s – healthy, fit and strong, and with all the time in the world, it makes sense to work long, hard hours in order to grind your way up the career ladder. But as you get older, you realise your healthy years won’t last forever – your health and time are precious commodities that need to be nurtured. Working long hours suddenly doesn’t seem so appealing, and you become less willing to trade money for time.
Take it to the extreme and you come to people like Warren Buffett – the most successful investor of all time – who has a net worth of $145.1 billion. How much of his money would he trade to be young and fit again? I suspect all of it (and he’s gone on record as saying there’s nothing more precious than your health and time).
So, at what point in your career can you afford to ease off the gas – maybe not stop working altogether, but start trading some of that wealth building for health building? Because the value of time increases as you age, while (assuming you already have enough to cover your basic needs), the value of money does not.
With these thoughts in mind, I’m reminded of a video a friend sent me the other day. It’s the best explanation of this subject I’ve seen, and is 15 minutes of your time well spent.
Here are some other posts you may like:
- How to Get Ahead With Money (A Simple 9-Step Plan)
- How much of your income should you save?
- Why Cryptocurrencies are not an Investment
- How to be a Badass at Life
- The Quiet Millionaire: the Sylvia Bloom Investing Story
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