This is a membership Morsel from “Too Young to Retire”. Today’s talk is about Money and it is one of the five areas that “Too Young to Retire” addresses.
Time, energy, and money are all finite resources. Wealth brings you choices, but the ability to choose “all of the above” doesn’t exist. I believe if you’re producing any product or service, your results can be fast, good, or cheap. You can pick two out of the three, but you can’t have them all. If you want something fast and good, it will be expensive. If you want something fast and cheap, it will not be good.
When you’re investing your money, you can invest for safety, liquidity, or return. There’s no right answer, and any of these goals will be appropriate for certain investors at various times of their lives; however, once again, you can’t have it all. If you want safety, you will give up some liquidity and some return. If on the other hand, you want the highest possible return, you will forgo liquidity and safety. Important decisions in your personal life are not yes and no. They are top five or ten type of decisions.
We often overlook issues of health, family, spiritually, and well-being when we establish our priorities. All things being equal, more money is better than less, but if you’re sacrificing your health or quality time with your loved ones for money, it is likely a poor bargain; we must budget the things that are finite such as our time and money while prioritizing the elements of life that are infinite such as spirituality, well-being, and significance.
Live life with gusto and keep pushing forward with your plans on enjoying life. This membership morsel was written by Jim Stovall for the Napoleon Hill’s Weekly newsletter and I could not improve upon the thoughts he expressed on this subject.
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