How Much Is Your Time Worth?
This blog will be short, but I wanted to ask you this question.
How much is your time worth?
Have you ever really thought about that?
If tomorrow someone offered you 10 million dollars, but the catch is you would die December 31, 2025 would you take it?
I'm betting you wouldn't because your time is more valuable to you than the money.
Everything you do in life is a tradeoff of your time.
Your job, hobbies, social media, etc. are all a tradeoff for your time.
I talk to so many people that think they need to keep working until they reach some magic age and they will retire.
You don't have to do that.
Retirement is not some magical age, it's a dollar amount.
When you have saved enough money to support a lifestyle you are comfortable with you can retire.
That dollar amount is different for almost every person I meet with.
Back to the 10 million dollar example, if you took that deal you would make approximately $16,000 per hour the rest of the year.
Yet I meet many people that trade their time for $50 per hour and put off retirement because they have no plan.
They just think they need to keep working.
Time is your most valuable resource and nothing else is even close.
Use it wisely.
And if you you're wondering how to save for retirement or how to spend in retirement, please reach out to me or another advisor you trust.
In my opinion, the most important thing an advisor can do for you is give you back some of your time.
You need a plan
Retiring - without a plan - is simply a plan to run out of money. Your NRECA R&S Pension is not a plan. Your NRECA 401k is not a plan. Your Social Security is not a plan. Those are only pieces in the retirement planning puzzle.
At 80/20 Financial Services we specialize in helping cooperative employees plan their retirement. We can show you how to turn your 401k and your R&S lump sum into a stream of income just like when you were working while also helping you achieve your desired financial outcomes in retirement.
The consultation is free and without obligation. Contact us to set up a consultation.
For more articles about retirement planning and investing click here.
80/20 Financial Services is an Independent Registered Investment Advisory Firm.
We help electric cooperative employees retire with a plan, not just a portfolio.
Photo by Aron Visuals on Unsplash
