This is parts 4 and 5 of a 5 part series looking into the 5 pillars of a well-lived life.
Time is Money. Nowhere is this more stark and explicitly spelled out than in the personal finance and FIRE community. In fact, the entirety of FI/RE is aggressively using your younger time to save and invest so that you can use that Wealth to buy back your entire 2nd half of your life.
One person who very recently did this, and is currently enjoying week 2 of retirement is Purple. She reached her FI number, in spite of the pandemic, gave her notice, and turned retiree, all at the ripe old age of…. 30!
Fuck! I’m so jealous, but so so happy for her.
She now does not need to work for money, although she most definitely will still be having income here and there. The point is, she doesn’t have to worry or think about it anymore.
And that’s what wealth brings to the table. The ability to buy back your time. The only one of two true scarcity that matters in your life. Time and Health. These are irreplaceable, no matter how much money you have, you can’t buy your way out of Heaven (or whichever place you believe in) if your time is up.
Time to do what you want
I’m also not saying that everyone should aspire to their number, reach it, then retire to the beach. If that’s what you want, then sure. But many people still enjoy doing things, and have passions outside of their jobs.
This gives them the time and the peace of mind to relentlessly pursue their passions without fear or repercussions. My wife is currently watching Grace and Frankie, a TV series about old folks (finally) putting down their facades and pursuing what they really want.
I haven’t seen it, but it’s apparently quite nice.
The thing is, I don’t wish to start pursuing these when I’m 70. Hopefully I can start before I turn 50.
What would you do if money wasn’t a concern in your life, for the rest of your life?
Time on the clock
Sometimes, we overestimate how much time we have. The average lifespan on humans in developed nations is about 81 to 83. But how many of those years will be a healthy, mobile one?
Until Elon finds a cure for death and old bones, we’re looking at possibly 60ish good years until we start feeling the bones act up. That too, is a pretty best case scenario.
We don’t truly know how much time we have left. And if we do, I think a lot of us will start to re-allocate what we’ve been spending our time on.
I think the best way to cherish our time, is to have a real good think about what really matters in your life. Nobody, on their deathbeds, looks back on their life and wished they’d spent more time refining that report vs spending more time with their loved ones.
