Being a Time Billionaire
What if you were "rich"...... in time
You would have probably heard of the phrase “Time Billionaire” before which was first coined by investor Graham Duncan referring to someone who has over a billion seconds to live, which equates to just over 31 years. (we’ll use 32 as a guide) This presents an interesting alternative to the normalcy of how we would value ‘wealth’ in the form of monetary terms today. Given the year 2023, and with the average life expectancy of an individual to range from 72-85 years, it can be ascertained that all Gen Z today are considered to be time billionaires, given if they live past the ‘ripe’ age of 59. I get it, we’re rich now, maybe not in “monetary” terms but in terms of time value. Bonus points included if you’re in good health. Possessing 2 out of the 3 “pillars’ (Time, Health & Wealth) of what society deems as achieving ‘success’ in life, is something not to be taken granted for. So, what now?
Imagine if you were told by your doctor that you had a week or two left to live due to some form of terminal illness, what would your biggest regrets be? As you lay on your deathbed, how many individuals can confidently state that they have lived a life they wanted to, without any regrets whatsoever before their time is up.
Not many can, myself included…..
Source: Dall E
The Danger Behind The Words “Next Time”
The two most dangerous words one can associate with when going about their day, are “Next Time”. This is because it involves putting off certain tasks or actions by delaying and postponing them to a later date, also known as (aka) procrastination. It’s common, but the extent and scale to which something is put off is subjective to the individuals themselves. This is something that I can definitely resonate with, which I still hold a list of regrets till this day. The list includes regretting not going out/ socializing more during my younger days in order to save money and invest, not picking up skills/languages I promised to learn, adopting a ‘shortcut’ mentality to success at an early stage of my life, forgoing the empathetic aspects of life such as love, emotion and friendship in pursuit of ‘wealth’ only to lose most of it in the end. I digress. But you get the gist of it. For every such regret, I always thought that there would be a ‘next time’, accompanied by the same set of scenario, circumstance and moment in place. Alas, this is not true as the world doesn’t revolve around oneself, and life catches up on you in the blink of an eye. Circumstances change, time passes, priorities shift, and people move on. There is always an opportunity cost involved for every decision and action you make or take. It’s falls on you to justify the value of such a trade-off in the long-term.
Alluding to my personal experiences once more, one such stark example involved me telling myself I would only consider ‘dating’ after reaching a certain amount of ‘net worth’, and that I didn’t have the time or money during college days to do so. However, as time passed, I found myself not getting any younger, as the ‘net worth’ goal post kept shifting and the chances of meeting someone being ‘slimmer’ in comparison to my younger days. Another example was me telling myself to socialize more during my last year at university, only to which I was met with online classes when the Covid pandemic struck, which pretty much diminished my hope of social interaction during my final year of study. Little did I know, the illusion I painted for myself of what my life would entail “next time” would drastically differ to that of reality (surprise surprise).
Source: Pixabay
Facing ‘Reality’
Regardless of whether we like it or not, it’s a materialistic world out there, where most of us will, and would have to exchange time for ‘money’ in the form of labor. When you work for a company, you are essentially selling your time to that company who employ you by providing them a service in exchange for the allowance you receive. It is likely that we would spend approximately ~ 90,000 hours, which equates to roughly 1/3 of our lifetime on working. If you follow the traditional system that society has planned for us, you would likely experience the following stages within your lifetime should you live out the average life expectancy:
It is apparent that most people work, hustle and stay on the grind during the prime time of their lives, in the hope of achieving self-fulfillment, and mostly to enjoy an earlier retirement where they can essentially live off their savings, properties, assets, pension funds or nest egg that they have worked and saved so hard for. This, however comes at the cost of our time and health. If you have lived a life full of meaning and fulfillment without any major regrets or health impediments, then just enjoy retirement by doing whatever you seek to do, like travelling which is a common retirement goal. That being said, it is cognizant to note that someone despite being healthier at the later stages of their life will not have the same level of mobility, energy and enthusiasm they once did when they were younger. (Something which is often overlooked). The opportunity cost as mentioned in the previous paragraph, is why you should prioritize accordingly the trade-offs you are making.
Source: Pixabay
The Path Forward as A Time Billionaire
It is imperative to note that as you proceed further in life, before you know it, the “B” in the “Billionaire” starts to become a “M”. Life’s too short not to enjoy what you do. For example, if you realize, say one day you find yourself in a role wishing for the day to pass as quickly as possible, then it’s advisable to reevaluate your current circumstances and weigh the options on hand to see if it would be feasible changing roles or pursuing an alternative path that provides a sense of fulfilment and motivation for you.
You are in your ‘personal time zone’, not in anyone’s else’s. You do you, and only you know what’s best for yourself. Before you say “next time”, or take up tasks you know will exhaust the bulk of your time, ask yourself if it’s ultimately worth the time at the end of the day, while being conscious of the opportunity cost that arises as a result of the decisions you make.
Though life is not a race, the clock never stops ticking, and you just have to ensure you make each day count as doing something fulfilling that you know you can look back and acknowledge that you had no regrets.
Source: Dall E
- Been meaning to get the number of that cute girl you saw in college and asking her out on a date? Just do it.
- Ever wanted to socialize and experience the vibe of nightclubs? Just do it.
- Wanting to take a gap year or thinking about travelling during your youth? (If circumstances permit) Just do it
- Want to try being a digital nomad? Just do it.
- You know that startup/business idea lingering at the back of your mind which you had been contemplating to putting into action? Just do it.
- Having the urge to beat your personal best (PB) numbers when working out and pushing yourself to see what you are physically capable of? Just do it.
- Intending to run a marathon? Just do it.
- How about that new language or skill you were planning to pick up? Just do it.
- Remember that new sport or hobby last summer that you were interested in? Just do it.
- What about that old pal of yours and your family, relatives and friends who live on the other side of the world that you had been intending to visit? Just do it.
- Ever thought of practicing philanthropy at some point in your life? Just do it.
- Keen to experience various sorts of occupations or change roles should your skills permit. Just do it.
And as for all the other various kinds of desires or aspirations you might have……. Just do it. (Disclaimer: If they are reasonably safe to do so)
Although I personally feel ‘lost’ today, I continue to fumble my way through the darkness while exploring the various options and opportunities available out there, albeit knowing that the clock never stops ticking. If there’s one takeaway from a time billionaire who’s learning as he lives life, it’s this: Live in the present. Don’t dwell in the past, and don’t worry about the future. Be aware of the trade-offs with every decision you are make in life.
Carpe Diem (Seize the day) while time is on your side…..for now.