Finance Belief #18: time is the most precious asset of all. Time is the most finite of all finite resources – and all of the wealth in the world can’t buy it back. That’s why millionaires believe that managing it, protecting it and freeing up as much of it as they can is a very good investment. There are many ways they do this – by building passive income sources, by delegating or hiring out work which they don’t want to do, or even something as simple as having goods and services delivered instead of driving around town to get them. And when they invest their time in this way, they make their investment even more valuable by doing something worthwhile and valuable with that time: catching up with family or friends, for example. By exercising and working out. By pursuing a hobby or project about which they’re passionate or by donating time to a cause that they care about. Or even by reading a good book. Whatever it is, there’s a purpose and intention to their investment in time, just as there is an intention and purpose to every investment that they make. Belief #19: there’s more to life than money. Perhaps the “core-est” of all these core beliefs. We’ve all heard stories or seen Hollywood movies about the millionaire obsessed with the trappings of wealth, the one who’s constantly scheming about how to accumulate “more.” Sure, there are people like that. But in the real world, most millionaires don’t conform to this stereotype. Most successful investors acknowledge that gaining mastery over money is one of the most important things in life. But they also understand that there are many others that are ultimately more important. Things such as their health. Their hobbies, passions and interests. The causes that they care about. Their personal and professional reputations. And, of course, their friends and families. As much as they spend time thinking about their wealth, they never let it dominate or supercede these other important elements of their lives. This is the belief that’s the foundation of all others, the core value that helps the best investors in the world live their best lives, no matter how much they happen to have in the bank. CSANews | SPRING 2024 | 31
RkJQdWJsaXNoZXIy MzMzNzMx