This post is 925 words, about a 4 min read. Enjoy!
On Thursday night, I had a rare off day from my regular duties due to a storm that was blowing through Atlanta. Thankfully no one was hurt by the storm (at least, as of the writing of this post). However; my usual Small Group Bible Study session was canceled to keep everyone safe at home. This gave me free time on my hands so I did what I always do when I have free time.
I watched YouTube.
One of the videos I watched was from my friend, Kenneth (Ken after this) from TradeInvestSimplify. He told the story of an old friend whose mom was thinking about retiring in the next few years. Her body is breaking down and she was ready to leave the workforce.
The friend knew Ken was into investing and retirement, so he thought Ken would be the best person to speak to his mom on the topic. In the conversation, Ken discovered his friend's mom had nothing saved for retirement. But also she had just bought a house because of the belief that a house is an investment. (Yes, that sound you hear is me seething and foaming at the mouth because I AM SO PISSED. Those who know me and have read past blog posts, know exactly how I feel about homes as investments. But I digress).
After listening to all she had to share about her finances, Ken had to be the one to break the sad news to her. Unless something drastic happens, She cannot retire.
Pause for a second
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Think about that
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She cannot retire
Now ask yourself: How would I have felt at that moment receiving the news?
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I want you to really internalize this.
You have been working for decades, almost half a century for most people. When you finally believe you can see the light at the end of the tunnel. You realized as Thor did
As George Bernard Shaw said,
"Youth is the most precious thing in life; it is too bad it has to be wasted on young folks.”
I love the addition by Raymond Reddington. On a Blacklist episode, he said:
"People say youth is wasted on the young. I disagree. I believe wisdom is wasted on the old. All you can do is part with it, but very few will take it, least of all the people closest to you. They want no part of it."
As a young person (28 years old), I see just how much time I waste and have wasted doing nothing.
Lamenting and arguing with randoms on social media
Worrying about the best outfit to wear that no one remembers
The amount of time spent being entertained by social media
Watching Netflix, YouTube, Prime, HBO, etc
Going from party to party to party
Now do not get me wrong, none of these things are wrong. I mean scroll up and you can judge me again. However, when it begins to impede our progress that is when it becomes a problem.
Why do I waste time as a youth?
Because I believe there is always tomorrow. There is always another opportunity. I can put things off because I HAVE TIME!
It is rumored that Einstein said The most powerful force in the world is Compound Interest. In compounding, the most powerful factor is TIME.
Every day we decide to put off doing something, we miss out on the wonders of compounding working to our benefit.
In health, it means another year of living pain-free in old age or possibly avoiding death
In your career, it means another year of becoming an expert in your field which can mean more money
In education, it means a deeper understanding of a subject
In skills of any kind from cooking to art, it means becoming a master at your craft
In finance, it is the ability to do what you want, how you want, when you want, and with who you want
In relationships, it means a deeper bond being formed with loved ones
In faith, it means a deeper understanding of life and a deeper relationship with God.
Unfortunately, Compounding is not so kind as to always be in our favor. It can also work against us:
In health, it means more pain as your body breaks down and you are more susceptible to various diseases
In a career, it means you never see growth or development.
In education, you learn nothing
In skills, you have none, or worse you need someone to do everything for you
In finance, no freedom. Work till you drop
In relationships, no depth everything is surface level
In faith, anxiety takes over
If there is anything you want to do, the best time to have started was yesterday but the second best time is today. So get to work. Do not wait another minute with the belief there is more time.
As Andy Mineo said in his song "1988" :
When I was younger all I heard was, "You got potential"
But I don't hear that no more, I hear, "The rent due" (Uh)
And every birthday is bittersweet, it mean our time is shorter
Recommended Reads
Juan Fourneau from Humble Dollar shares a variety of stories of blue-collar factory workers’ road to retirement.
Morgan Housel on The Art & Science of Spending Money. I struggle with 3, 6, and 12. Read and share which you struggle or succeed with.