Time Money & Health

There is a saying that “time is money” and “health is wealth”. And in both instances we often refer to the amount of time or money that was spent. There is different value placed on each depending on age, life stage and other factors.

Time

In general, the youth have an abundance of time and health, while feeling they lack of money to spend on many things they could do with their time. I remember while I was a student in University I would often buy the airplane ticket that had a million connections but cost the least money. It required the most amount of time to get to the destination. I had more time than money or let’s say my time was not as valuable to me or society.

Money

As we get older, working more and earning more money we then reach a stage that we have very little time as a people balance work demands and family. At this stage, we have the money our younger selves desired but struggle to find the time to engage in experiences with that money given the time constraints.

Health

We then get further ahead in life and soon health becomes the resource we have less of. Picture a retiree with lots of time and money but poor health and unable to do many activities or experiences.

Balance Among Them

Consider the idea that money is not really a thing but a representation of time exchange or value exchange. As a student, I had to exchange 40 hours of my time for 3 hours of time from my Professor considering I earned minimum wage relative to the Professor’s salary. So we are bartering time with different mediums of exchange ie USD, Euro, Canadian, dare I say crypto as well.

Wealth of Time, Time with Health

If you have an a abundance of time but poor health then your “time” on earth could be numbered. Since time is money, we must not forget to invest “time” in our health. I sheepishly acknowledge this is an area I need self improvement on as well. As we strive to achieve a wealth of relationships and experiences, we need the time and the health.

If this resonates with you and you are not sure where you stand, let’s talk. There are Canadians who continue to work demanding jobs out of fear they don’t have enough money. In actuality after an assessment they do and could have slowed down a long time ago and reclaimed time for themselves. Don’t underestimate the power of knowing where you stand. Review and update your Financial Plans on a regular basis and attend our monthly webinar series to learn by RSVPing here https://ca.rbcwealthmanagement.com/orlando.lopez/events

Orlando Lopez, CFP,CIM,CIWM