What comes to mind when you think of wealth?
Full bank account, houses, cars, luxury?
Our friend Meriam-Webster says: “abundance of valuable material possessions or resources”
I have another definition.
Wealth: The abundance of time to pursue skills and dreams
There is one thing more precious than money or valuables. Time.
Money is not the treasure we should be chasing. Time is the treasure.
The more time we have, the more we can do. The more memories we can make. The more memories with our families.
Money is a tool to grow our time.
In the back of my head, my greatest dream is to not be tied down to an employer but have the freedom to pursue my Skills, dreams and hobbies. And for it to all be scheduled around my family.
The freedom to launch and run a business, write books, fly drones, travel and spend as much time with my wife and kids as I want.
To me this the ultimate freedom and wealth in life.
So, how do we grow our time, so we can do whatever we want before it’s too late?
That is a blog topic by itself but the cliff note version is this:
Get rid and stay out of debt.
Build Cashflow: With zero debt cashflow increases. Continue to cut waste to increase the flow.
Develop investment portfolio: Business, stocks, Retirement. Use cashflow to build portfolio.
Develop Skills and knowledge
Be patient. Wealth doesn’t develop overnight
This is True Wealth. Time > Money. Money is a tool.