“Time is money” is what we have been taught to believe. In a capitalistic system, the phrase seems to hold a degree of truth to it. The more time we spend on something, the more the return or pay. But it is a time fallacy.
It is a misconception to believe ‘time is money’. For one, time to us, is limited. We have finite amount of time in this world. As for money, it can be infinite. We can earn money exponentially.
“You get paid by the hour” your boss might say; but does it make it true? You do not get paid for your time. You get paid for the value you bring to your employer. A doctor earns significantly higher than a medical assistant because of the value of his or her skills. It is your skills that you are compensated for.
A business owner invests countless hours at the initial stages of the business. However, it doesn’t always pay off. Many businesses fail within the first year of operation. A business has to add value to the customer. A valuable product will have demand. If the product is scaleable, there is a possibility to exponentially earn money until the demand is met or a competitor enters the market. It is not the time spent starting a business that get rewarded. It is the value and the societal problem being solved that will make a business a success.
To be financially successful, you have to learn a skill that is valuable in today’s economy. Use your skill to earn employment. However, you only have 24 hours in a day. So, time is the limiting factor here. To overcome time limitation, you have to buy assets/businesses that pays dividends or appreciate in value. Hiring your money or other people to work for you eliminates time restriction.
If you want financial success, stop believing the narrative of time being money. Our time starts at conception. Time start ticking even before we are aware of our own existence. If you were born 2000 years ago, you would not know the concept of money. Time existed before we existed; money exists because we created it.
Time is the most valuable asset we possess. It is worth more than money. To have time is to be alive. When our times runs out, the only thing that will matter will be our legacy.
Thank you for spending your precious time reading this post.
