THE DISCOUNTED TIME PRINCIPLE: Trading Good Time for Bad is a Terrible Life Strategy

[Rishi]

I just looked at an excerpt of MJ's new book and it contained this line below:

"It’s time to stop trading our time just for money, our time needs to earn both money AND time"

I've posted the chapter concepts summary below - but that's the chapter done. Theres not much more I can get to really implementing it in my life.

I wanted to ask if there was anything actually more on this principle, or is it just that a general principle?

how can we make our time earn both time AND money?

and if say in your 30's what drastic or consistent things would you do to ensure you are using the leverage of this idea well?

Is this principle a combo of Mj's philosophy and Tim Ferriss?? It seems to me that we need a way of being....

'Short-Term Super-FastLane'

Enough that we can sustain a lifestyle that has amazing experiences within a year or two as opposed to focussing solely for 5 years on a business that can be sold off.


• The time value of money states that money today is always more valuable than money later.
• The time value of money is a universal concept taught at every university on the planet, while the discounted time value of time isn’t taught anywhere.
• Freedom young is always more valuable than freedom old.
• Whenever the rat race marginalizes time and treats it as a mathematical variable for financial freedom, you’re being propagandized

 

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[MJ DeMarco]

When you are building a specialized unit and a business system, hence investing time instead of trading it, you are attempting to earn MONEY and TIME. When that combination earns you money (while not working) you also earn time on top of the money.

Didn't think it was that confusing.

 

[ZCP]

if i spend 16 hours automating a task that i do every day for 1/2 hour, then in 32 days i break even on the investment and it begins to 'create time'. I now have 30 minutes a day to invest in something else.

if that 30 minutes a day task is say 'running my amazon FBA business' that is profitable, then that 16 hours invested is now creating money AND time.

step1: Find things you do that you can eliminate, automate, deligate to create time that can be used to work on your fastlane system.

step 2: use that time in your fastlane system to create money and save you time doing other things (make money to pay a cleaning service so you don't spend any time cleaning your house and can spend that time exercising or creating more)

don't make it any harder than it needs to be!