Time Wealth

This weekend I went to Hilton Head Island to visit an old friend. In conversation he mentioned a book he had read recently that talked about the difference between money wealth and 'time wealth'. It was interesting...

Time wealth is a theory that points out the value in owning your own time in life.

A time wealthy person is someone that has the time to do with it what he/she wants. For instance, a business owner who can operate efficiently anywhere through phone/internet might be very time wealthy because they can do their work from anywhere and in some cases at any time. A time poor person might be someone that owns a business where they absolutely have to be at their business in order to make money; i.e. a dentist who has to be at his/her office seeing patients day after day in order to make money. They are dependent upon that restriction in order to make money.

I always knew working for myself had the benefit of answering to no one and doing what I want, when I wanted, but I never looked at it quite like this.

As much grief as I give myself over my business, it really does give me a lot of time wealth. I should be thankful for that.

How do I become even more time wealthy? An interesting thought is considering how money wealth has no concrete ceiling but time wealth does. You only have so much time in a day, a week, a month, etc. You must make the most of the time wealth you have because you are only capable of generating a finite amount.

What should I do with my time?

Possibly, if I could shift the operational time commitments to my current business to more evening hours, I could open up more time wealth in order to do something more positive during the day.