Business & Investment

Weekend Reading: Who Wants to Be a Millionaire of Time?

What caught my eye this week.

NSThe gospel of FIRE is probably very widespread, as even those who suffer from the open concept of financial independence can quickly see the points of early retirement.

Put together in catchy acronyms like FIRE and Boom! A meme was born.

Just compare FIRE with the standard DCMPA strategy. This is a defined contribution to the minimum pension age and no one has ever entered it. It’s clear why FIRE is so large. Ticktaku, While organizing DCMPA documents, is at the bottom of most people’s ToDo list.

Still i I hate to subscribe In my own FIRE terminology. It’s partly due to my unique hipster snooty, but it’s also what moved my imagination to be financially independent, and it’s always like the second fiddle on the FIRE sales pitch. Because it looked like.

with some reason, Idyllic early retirement It’s not exciting enough for me to stay financially active, but the FU Fund / Death Star is in my back pocket.

I tried the term Financial Freedom and it seems that the phrase always has meaning. Maybe it sounds vaguely hippie?

Also, if Exactly Eligibility for early retirement is a can of worms for pedants to kick around, and then financial freedom is a mass of fish in a barrel for shooting a gun.

How free is it economically? Can I use the bus for free anytime, anywhere? Uber X? Are you free to catch your own private jet?

Discussing early retirees at Side Hustle is a child’s play by comparison.

Time bandet

I have now learned another term for a lifestyle that is “economically purposeful semi-loafing but with a healthy bank balance” I am..

Apparently, we have such a soul Time millionaire..

according to Parents this week:

First named in the 2016 column by writer Niran Janaloi Financial TimesTime billionaires measure their value according to the seconds, minutes, and hours they return from employment for leisure or recreation, not in terms of financial capital.

“Wealth can result in comfort and security.” Roy says. “But I wish we were taught to put as high a value on our time as a bank account, because how you spend your time and days is yours. Because it ’s how you spend your life. ”

Of course, a quick quick glance reveals that the term “millionaire of time” is not strictly defined. But I can definitely put off that concept.

Anyway, since some point, I’ve always valued my time (especially the ability to do nothing “productive” at all times) much more than putting extra money in the bank.

Best as a freelancer, I was a samurai level Time manager – Not to narrow down more work, but to narrow down more work timeouts.

When a friend asks why I quit my corner in a rat race, Waitrose has the ability to wander into the British Museum on Tuesday afternoon, or wait for one of its ropeless free coffees the day before the pandemic. It’s hard to explain what it is. Whenever you want – at least as inspiring as writing a novel or starting up.

In fact, I decided to take an hour for lunch, no matter where I was hired or working. No one else did – not consistently.

Their loss!

To make matters worse, many colleagues spent a lot of time. And working more than 12 hours every day is a particularly ridiculous strategy.Studies show that if you work more than 55 hours you Low productivity.. Extra effort is meaningless.

What’s more, even if you manage to squeeze out some useful efforts Parkinson’s law Eventually you will get you.

Life is easy

I don’t think the Time Millionaire term works. But I agree with that idea and my money is in my mouth.

Or rather, the money I didn’t get because I wasn’t working!

(Well, that’s an exaggeration-or isn’t it literally? Hey, we’re already talking far from booking because we’re talking about “millionaires” in time.)

Regular readers with great memories may remember that I quit my main job contract a year ago.I was going to spend more time growing Monevator, And various other early projects.

But even after 12 months, that hasn’t really happened. Anyway, not yet.

There are some good personal excuses for this, but I won’t cover them today.

Especially because I can’t help thinking that most of the time I’m busy doing nothing.

Was good They do not tax their free time!!

What do you think? Would you rather be a millionaire of money or a millionaire of time? Is it possible to combine these two systems with the theory of everything? Or is the FIRE term already doing that?

Please let us know in the comments below. And have a great weekend.

From Monevator

Savings rate for rescue – Monevator

Portfolio (basket) case study – Monevator

From Archives: Are General Investors Missing Venture Capital Returns? – – Monevator


Note: Some links are Google search results. In PC / Desktop view, you can click to read articles even if you are not a paid subscriber. To avoid cookies, try privacy / secret mode. If you read them a lot, consider subscribing!

Tax authorities strengthen grip on cryptocurrencies [Search result] – – FT

UK Homes Can Be Worth £ 1.2 Trillion On The Open Market – Guardian

Pension savers face the risk of higher fees as snacks seek billions of dollars to “level up”. [Search result] – – FT

Homeowners receive a £ 101,000 invoice to correct a £ 180,000 flat cladding – ThisIsMoney

Bitcoin mining has disappeared from China – Wired

British are insignificant in pension [PDF] – – Great British Retirement Survey

Supply Chain Pain Mini Special

Gasoline and diesel pump prices are close to record highs – BBC

Britain’s largest supplier warns when chicken prices rise – BBC

Missing Countries: Why Britain Is Set for a Severe Christmas [Search result] – – FT

Products and services

Natwest and First Direct offer new switching bonuses worth up to £ 150 – Which one

A food box that gives more nosh for your dosh – ThisIsMoney

Sign up Free trade Through my link we can both get a worthy free share between £ 3 and £ 200 – Free trade

QPR CEO talks about the club’s new 5% payment minibond – ThisIsMoney

How to reduce the cost of owning an electric vehicle – Guardian

Would you like to pay 20 pence to read an article instead of getting a subscription? – – ThisIsMoney

Dive deeper into the proliferation of “buy now and pay later” schemes – Which one

House for Strictly come to dance Fans, in the photo – Guardian

Comments and opinions

Actual cost – Humble dollar

Second Home: Stupid or Fantasy? – – Fire V London

Relationship between Money and Marriage – Secret money scribe

How much does an early retirement cost? – – I retired young

For investors, the period is everything – Richness of common sense

Tenterhook snacks over rising borrowing costs – David smith

When did you finally get rich? – – Financial Samurai

How Money Games Change Over Time – Bunker on fire

Investment tools evolve to manage risk – canvas

Naughty Corner: Active Antic

Larry Swedroe: Value stocks remain cheap compared to growth – TEBI

Create an investment case for Hotel Chocolat – Interactive Investor

This sounds like when the money died – bps and peace

Covid corner

Is the “worst cold in history” triggered by Covid? – – BBC

Successful mRNA Covid vaccine paves the way for new drugs [Search result] – – FT

Kindle Book Bargains

Stop like a millionaire By Kirsty Shen and Bryce Leung – £ 0.99 on Kindle

Snowball: Warren Buffett and the Business of Life Alice Schroeder – £ 3.89 on Kindle

Creativity Co., Ltd. Edwin Catmull – £ 1.99 on Kindle

My Garden World Monty Don – £ 0.99 on Kindle

Environmental factors

Your new beach property – Investment Clement

Huge turbines are pushing the boundaries of potential – BBC

Why many of us are casual spider murderers – BBC

Thames Water sewage data show hundreds of illegal spills [Search result] – – FT

From our beat

Semi-rich 9.9% problem – Vox

What is the point of 15 minutes grocery delivery? – – Deputy

How London became FinTech’s Global Center – time

AI and Mathematics Playing a Greater Role in Global Diplomacy – Guardian

And finally…

“The beauty of empathy is that you don’t have to agree with the other person’s ideas.”
Chris Voss, Don’t split the difference

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Weekend Reading: Who Wants to Be a Millionaire of Time? Weekend Reading: Who Wants to Be a Millionaire of Time?

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