Money vs. Time

It’s the age-old question: Do you want more money or more time? Researchers have asked this question in several studies, and the majority of people pick money. Initially, this makes sense, because money is essential and allows for our wants to be met, but these same studies found those valuing time over money are generally happier. Researchers also note that money is associated with greater happiness up to an income of about $75,000, but any greater amount does not ‘buy’ more happiness.

These findings got me thinking more about the money versus time concept. I work long, hard hours to provide for my family now and for the future, and I feel a sense of purpose, accomplishment, and passion for my business. On the other hand, I have also found myself longing and needing more time with my sons, wife, friends, extended family, and myself. It is a delicate balancing act, and I know I am not alone in dealing with this daily push and pull.

Over the course of the past few months, I began to reevaluate my money versus time relationship, and what really opened my eyes were my children. I allowed my entrepreneurial journey to interfere with spending quality time with them. They would ask me to play, and I’d have one more email needing attention or an unexpected business call would interrupt us. As this behavior continued, they started to ask me to play with them less often. Yes, my attention to emails and calls are necessary for success, but my time with my sons is invaluable. They do not care if I met my monthly goal or secured another client, they simply want and need quality time with me.

In The Purpose Driven Life by Rick Warren, he states, “Time is your most valuable gift. You can make more money, but you can never make more time.” I am fortunate to have found my life’s passion and enjoy making a living from it, but I have found that I am happier when I have time to both fulfill my passion and spend time with my loved ones. I invest in my clients, I invest in my wealth creation, and I know that I need to invest more in my personal relationships.

I’m working toward prioritizing my time better, and I don’t have it all figured out – everyday is a learning process and a complete change of my mindset. As time passes, I know more opportunities and money will come my way. Most importantly, I know I will spend my limited amount of time surrounded by mentors, loved ones, clients, colleagues, and friends – those that make me happy.

In addition, JP Williams is the Founder of Pillar Wealth Group who lives and works near Columbus, Ohio. JP founded Pillar Wealth Group with over 17 years of experience and specializes in financial planning, retirement planning, investment management, risk management, college planning, and estate planning. Contact us today to get started with your financial wellness journey. Contact us today to schedule an introductory meeting!