What’s More Valuable; Time or Money?
My “very unscientific” survey of family, friends and clients suggests that people who feel they have more time would trade some for money. And vice versa.
How much time or money is enough? It’s like asking someone how much money they need to retire? The answers are all over the map.
Of course, there’s no right answer. It’s a personal decision that depends on many variables… life stage, circumstances, health, personality, goals, desires etc. What I’ve discovered, over the years, is that if my time/money balance is really out of whack, I’m very miserable. I can deal with short-term unhappiness (for a greater goal) but long term misery is not sustainable.
Looking back, one of my biggest challenges was being 100% available for my kids AND my career at the same time. Why was I having so much trouble when others I knew seemed so capable of managing it all? For 5 years, it was a continuous struggle and eventually, I knew something needed to change. Then, an ah ha moment; I realized that two of my most important values, namely financial security and family, were in conflict with each other. I was so busy trying to earn money and build wealth that I was missing out on memories with my kids that I could never get back. So, as I approached my mid-thirties, I opted for more time with my kids and less money/responsibility at work. Not an easy decision but the right one for me.
Many of you will have an immediate answer to the time vs. money equation. For those of you who don’t (or are interested in how others’ think), this article from Forbes entitled Would You Rather Have More Time Or More Money? will help you reflect on this question and hear more ideas.
Please send me your thoughts and let’s continue the discussion!
At this stage of your life, would you rather have more TIME or more MONEY? Why?
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