About half of working Baby
Boomers have saved less than $100,000 for retirement.
2016 Price Waterhouse Coopers survey
Most people are
really, really horrible at managing two things:
1. Their Money
(i.e. A recent NY Federal Reserve study found that 1/3 of
Americans couldn’t come up with $2,000 in the event of a
2. Their Time
As bad as people are at managing
money, they’re even worse at managing their time. To see how
bad, say this to 10 people:
“Can you believe 2017 is
already 1/3 gone?”
At least half will say something like
“It went so fast. I don’t know where the time went”.
understand how truly ridiculous this statement is, imagine that
someone said “I don’t know where my last four months of
Financial gurus like Dave Ramsey teach
that the first step to winning with money is to start telling it
where to go, instead of wondering where it went.
what a personal budget does.
Even if you never make any
financial plans, you can tell where your money went by looking
back at credit card and bank statements.
But time leaves
no such trail.
If you can’t tell me exactly what you did
with the last four months of your life, here’s a really easy way
to change that without spending a dime.
Download an app
Then start keeping a simple journal of
how you spend your days – both at work and in your personal
Every time I look back three things happen:
1. I’m amazed at how much was going on at any given time
I’m amazed at how much I forgot
3. I smile when I’m reminded
of memories I don’t want to ever forget
Here are a few
excerpts from my Evernote journal:
Had dinner with Gary and Paula Molberg at The Big Texan Steak
Ranch. Watched 3 crazy people try to finish off a 72 pounce
steak in 1 hour. None did.
10/20/13 Las Vegas: Turned 50 today. Sky Jumped
off top of Stratosphere, rented yellow Lamborghini, rode Gondola
at the Venetian, met Chum Lee of Pawn Stars, and saw Penn &
Teller at Rio. Only one I need to do again is see Penn & Teller.
They’re better than David Copperfield or Siegfried and Roy ever
Spent all day in studio editing chapters 1-14 of
Assertiveness Skills for Managers DVD. Tedious and boring
work. Wish I could delegate it, but this is stuff only the
author can do.
Installed a video doorbell. Doesn’t work as well as they show on
Took Cindy to brunch at Another Broken Egg Café. Met David
Malloy there, who wrote Driving My Life Away for Eddie Rabbitt.
My worst nightmare. In Mexico and have food poisoning. Man what
I’d give to be stateside with a Walgreen’s on every corner.
You can download the app at
available for iPhones, Droids, PS, and Macs. It won’t cost you a
dime, but is priceless if you value your precious time.
To Your Success,
To see how intertwined money and time management are,
read "The Millionaire Next Door" by Tom Stanley. One of
the most common habits of self-made millionaires is that they
are obsessive about time management.
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