Are you aware of the opportunity cost of wasted time?

“It is not that we have a short time to live, but that we waste a lot of it.”

Seneca

December 31st is one of my favorite days of the year. I love setting aside time to reflect on the year that is almost over, assess what I want to improve upon or achieve in the coming year and pause to appreciate all the good things that have happened over the previous 364 days.

If I am being honest, one of the things I typically review with some regret is how much time was “wasted” over the year. I remember the moments that created a positive memory for myself or others with joy and fondness. The time I spent doing things that didn’t add value to the lives of those I care about and serve never makes my list because it is GONE and has zero return on the investment. 

Truthfully, wasted time has a negative return on investment; it is a lost asset that can’t be retrieved in any possible way. So there is an opportunity cost for the wasted time that, unfortunately, is far too easy to ignore or rationalize away. But it is always there.  

So my challenge for this new year is to be even more intentional in spending my time and waste less. I will be focused on improving the daily, weekly, and monthly investments of precious time so that next December 31st, I have even more to be grateful for during my reflection period. 

2022 is going to be a fantastic year; 2021 certainly was.

Time spent worrying is a waste of energy.

“If you can’t sleep, then get up and do something instead of lying there worrying. It’s the worry that gets you, not the lack of sleep.”

Dale Carnegie

There is almost nothing worse than waking up in the middle of the night with your mind racing and not being able to shut it down. Well, that’s not true. Lying there, worrying about something is much, much worse. I am guilty of this far too often, and only in recent years have I begun to manage this more effectively.  

Worrying is a 100% negative investment. Every single bit of energy spent on apprehension and anxiety is negative energy expenditure. Choose to spend your finite life positively; do something, even if it is wrong. You can always do something different if it doesn’t work out.

Create 10x returns in the lives of others…

“The greatest good you can do for another is not just share your riches, but to reveal to him his own.”

Benjamin Disraeli

Revealing to someone else their own riches is akin to creating and unlocking the secret of the compound interest rates in another person’s life. 

Helping someone discover their hidden gifts or talents will create a lasting impact that will extend far beyond the individual you enabled. Just like $1,000 invested when a person turns 18 grows to be worth almost $90,000 (at 10% growth) by the time they retire, the investment you make in others will expand over time. One CRITICAL difference is that the impact isn’t limited by market returns or by the original investment amount. Because you are enabling another person, the returns can generate at an exponential rate.  

Because one person’s life is changed forever, they impact 1, 100, 1,000, 10,000 others throughout their lives (or even more…).  

Invest in others, not just by sharing your earthly blessings but also by building a 10x impact by unlocking other people’s talents and treasures. The return on your investment might be eternal.

crop man drawing on whiteboard during financial training
Photo by Malte Luk on Pexels.com

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dusty

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