Hire to Buy Back Time
omething that I see frequently in conversations amongst my colleagues
is their failure to understand the connection between money and time.
When we’re young, too often we don’t value time. We give away time in pursuit of making as much money as we can and having the lifestyle that many of us feel we deserve.
I am not against making money – I’ve done it myself all my life. Even from an early age, I wanted to have my own money and be independent from my parents. I wanted extra money, so I could do things for myself.
I get it. The problem is that in the chase for money it’s easy for us to give up several fundamental freedoms – and the biggest one is time.
What we really want in life is time. Money can buy us time, but what we typically do instead is buy more stuff, because that tends to satiate us for a short period of time. A bigger house, bigger lifestyle, bigger vacations, better cars, etc. It’s temporary.
We have to keep working for those things, because we have not transferred our hard work and capital into assets that can pay for those things for us. We have a choice either to spend or invest, right? When our assets produce cash flow, we can actually use that cash flow how we want to – and it doesn’t run out.
It's like the Golden Goose. You don't kill it – you just let the goose continue to produce the eggs. It’s the same way with revenue streams from alternative investments like real estate. It’s a steady stream of income that you can do whatever you want with, and the last thing you want to do is get rid of the goose.
By owning cash flow-producing assets like real estate, instead of trading more of my time for dollars and having to work harder or more efficiently to create more income, I can relax a little bit. I can actually have some time.
I hear business owners say, “Hey, I need to hire more people to grow my business.” Well I say, why not hire more people to buy back time instead?
It's a totally different construct, isn't it? It really gets back to the question of what are we really chasing? More money? Or more time?
Yes, more money can potentially give us more time – but what if we hire people who can take a load off of us and allow us to live our life, as we're creating financial security for our family? That’s something to think about.
So do you hire to grow? Or do you hire for your time?
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
1. Schedule a Call with My Team:
If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least $1M in available capital (can include residential/practice equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest. www.freedomfounders.com/schedule
2. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
3. Ready to Step Away?
“How Much is Enough?” This simple question keeps hard-working professionals at the hamster wheel of active income far longer than they need to be. Watch this free training, and discover a proven model for determining how much you really need before hanging up the handpiece! www.freedomfounders.com/training