We’ve all heard the saying “time is money”. While it might have become a cliché, there’s a reason it’s so pervasive in our culture. However, obsessively trying to maximize every second for productivity can actually hinder our journey toward true fulfillment and wealth.
The Myth of Wasting Time
One popular piece of advice, which I’ve relied on myself, is to outwork the majority. The equation of skills plus work ethic being greater than talent has been a powerful strategy for many successful individuals. While talent is valuable, not everyone discovers their innate talents early on. This is where work ethic becomes invaluable. However, relying on work ethic comes with its own set of challenges:
- Requires Patience: The fruits of hard work are not always immediate.
- Delayed Rewards: It can often feel like you’re taking two steps back for every step forward.
- Perceived Wasted Time: Part of the process includes moments that may feel unproductive.
To achieve anything worthwhile in life, you need grit, patience, luck, timing, and perseverance. These essential elements mean that sometimes you’ll spend time in ways that don’t seem immediately productive or efficient. Yet, these moments often provide the most inspiration and opportunities for unexpected growth.
Turning Down Time into Fuel
Many people, especially those in their early twenties, struggle with procrastination. There’s always something to do and never enough time. However, blaming a lack of time is not productive because there’s always time for what’s important.
As someone with a Type A personality, I understand the obsession with ticking off to-do lists and constantly staying on the move. It’s challenging for me to commit to anything outside of work many times because I enjoy what I do and often fail to see the immediate ROI on activities that aren’t work focused. This mindset isn’t healthy. Over the last few months, especially since starting my MBA, I’ve had to force myself to take more breaks and breathe.
The Importance of Taking Breaks & etting your Mind Wander
Overworking yourself and mastering productivity doesn’t get you as far as taking it slower and pacing yourself. Ironically, those who take breaks often speed up their progress over time. One of my New Year’s resolutions was to learn to take more breaks, unplug, and take nature walks to clear my mind. There’s so much to see and do that staying online 24/7 isn’t beneficial and can lead to burnout. Opening up your mind to the world outside of the screen can lead to unexpected benefits and discoveries, allowing you to appreciate the small things in life and maybe naturally spend less in return.
Focus on Focusing Better
Next time you feel that dip in energy or need a break, consider a mini detox from your phone. Get out in nature and see how your ideas and state of mind improve. This will help you become a more productive and fuller version of yourself in the long run plus it can help increase your net worth as well. It’s tough to compound and grow your wealth if you’re constantly multitasking and not focused. Focus is a precious asset. Those with focus get ahead in their portfolios by not timing the market but looking at the bigger picture and investing consistently.
In the personal finance world, understanding that not all time needs to be maximized for productivity and to squeeze the most benefit out of is crucial. Sometimes, the moments that feel wasted are the ones that provide the most significant growth and insights.
Embrace these moments, take breaks, and allow yourself the freedom to experience life beyond the constant grind. This approach will lead to a more balanced, fulfilling, and ultimately successful life in and out of the markets.