The Most Valuable Currency

Today's Newsletter:

• Quote from Naval Ravikant

• The Most Valuable Currency

• 8 Ways To Buy Back Time

• A Money Question

Quote

“All the benefits in life come from compound interest ~ money, relationships, habits ~ anything of importance.” - Naval Ravikant

Naval is someone I have studied and admired for quite some time. His thinking on wealth creation and building leverage is second to none. Yet, for all of his second-level thoughts, one of the most powerful is the simple act of compounding. Start doing something and commit to doing it longer than everyone else.

The Most Valuable Currency

Growing up my dad did everything around the house. I mean everything. Let me paint the picture for you to fully understand.

We lived on 2 acres with a man-made stream (he built it), a pool, a wood deck, and far too much landscaping. It was an amazing place to grow up. It was also an endless amount of work.

My dad ran the most efficient dental practices you can imagine. He would jam as many customers into three and a half days as possible. Trust me, he needed all three and a half days off to keep up with everything around that house.

I will never forget him telling my brothers and me how ridiculous it was that people would pay someone to mow their grass, trim their trees, and hang their Christmas lights.

My dad was my hero, a man that taught me everything. Yet, one thing he never understood was leverage. No, I am not talking about financial leverage like taking out debt. I am talking about leverage of people and time.

You see money is a currency. One that has an endless loop, meaning you can always earn more of it. Time on the other hand is a finite loop, meaning you can never earn more of it.

One is not like the other. So, while my dad thought he was being smart doing everything on his own, I would argue he was being foolish. He was spending a currency far more valuable (time) to have more of a currency far less valuable (money).

Today, I want to talk about 8 ways that you can buy back your most valuable currency, time. Let me preface this by saying, everyone has to balance the amount of time they can buy back based on the money they have. With that being said, we should always be willing to trade a less valuable currency for a more valuable one.

Let’s dive in!

 8 Ways To Buy Back Time

Here are 8 everyday ways you can use money to buy back your time. (listed from something that cost $10 to things that cost thousands.)

*Note – this list is endless and these are just 8 examples.  

1. Car Wash

You could spend an hour plus washing your car in the driveway or pay $10 to have someone wash it in 5 minutes.

Time Saved = 55 minutes per wash

2. Grocery Shopping

You could go to the grocery store, spend 15 minutes driving there, 30 minutes shopping, and 15 minutes driving home, or have them delivered.

Time Saved = 60 minutes per trip

3. House Cleaning

You could vacuum, dust, and clean every week or pay someone else to do this.

Time Saved = 60 minutes per week

4. Lawn Care

You could mow your grass, pick your weeds, and trim your trees or pay someone else to do this.

Time Saved = 60 minutes per week

5. Travel

You could walk, take a Greyhound, drive your own car, or shortcut all three and fly.

Time Saved = Hours per trip

6. Repetive Business Tasks

You could do every mundane task or hire an assistant to handle these.

Time Saved = Hours per week

7. Financial Life

You could navigate your own cash flow, tax planning, insurance coverages, estate planning, and investment portfolio or hire a professional. (*I am biased here)

Time Saved = Hours per month

8. Education

You could try to learn every skill through Google and YouTube or you can find world-class teachers to coach you. This applies to traditional education, continuing education, and niche-based skills.

Time Saved = Hours per skill

Money is currency. Yet, you can always earn more.

Time is currency. Yet, you can never earn more.

Additional Resources

The most impactful book I have read on this concept is The Almanack of Naval Ravikant. Naval is one of the preeminent venture capital investors of our generation and a true second-level thinker. His almanac is a collection of his thoughts on building wealth with a focus on understanding the value of time and leverage in our lives.

For about $15 you can learn those skills directly from his decades honing them. Here is your first chance to buy back your time.

Thanks for your time this week, I know how valuable it is and hope that I can always add a multiple of value for it.

A Money Question

What is something you can do to buy back your time?

This doesn’t have to be something that costs thousands of dollars. It might just be the next time you get a car wash. Just remember, time is your most valuable currency use it wisely.

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I help athletes, entrepreneurs, and executives pay less in taxes, simplify their financial lives, and invest for the long run.

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Until Next Time, My Friends

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