I did an interesting exercise this week. If you’ve ever looked at a copy of your Social Security statement, you know that page 3 shows how much you’ve earned each year throughout your life. As I looked at mine, I was suddenly curious about something, so I grabbed a calculator and added up my lifetime income. Then I opened my financial plan to get a quick snapshot of my net worth and I divided my net worth by the total of what I’ve earned. The result was a rough calculation of what I have to show (financially at least) for twenty plus years of work.
This was at once both encouraging and discouraging as well as illuminating and thought provoking. Encouraging because I’ve managed to hang onto a decent percentage of that income over the years and then invest it in a way that has caused it to grow. Discouraging because there’s a larger percentage that we didn’t manage to hang onto. Sure, part of that went to feed and clothe us and part of that went to fund experiences and memories I wouldn’t trade for the world, but I know that a not insignificant portion went to a category I’ll charitably describe as “non-essential.”
The interesting and enlightening part of the exercise came when I widened the aperture a bit and rather than just thinking about my lifetime earnings, I thought about my lifetime instead. Or more succinctly, my time. How have I spent, saved and invested my time? I’ve been “paid” 45 years of time. How much of that have I used wisely and intentionally? Alternatively, how much have I just allowed to slip through my fingers? Have I used my time at work to create a career that is enjoyable, rewarding and useful to others? Have I used my free time to invest in my family, develop my friendships and pursue interesting things? Have I used my time and attention to invest in my health so that I can “earn” more time? The answers to those questions aren’t necessarily as black and white as a bank balance, but if you put “time wasted” on one side of the scale and “time well spent” on the other, you can get a pretty good idea of which way it leans.
Similarly to when I did the financial exercise, the time exercise was both encouraging and discouraging. Much of my time was well spent and much (either by omission or commission) was poorly spent. If I’m being honest, there are days, weeks and even years where I wish I could get a do-over. There’s nothing I can do about that now, however, except learn from it. So I’ll internalize those lessons and do my best to be a better steward of my “time wealth” going forward. I’ll try to be a good steward of my finances too, but I suspect that the closer I get to the end of my life, the less I will care about how I invested my money and the more I will care about how I invested my time. You too? Then do something about it so when you come to the end of your years, you’re not left wondering, “Where did it all go?”
“It’s not that we have a short time to live, but that we waste a lot of it.” ~ Lucius Seneca