Hi ,

 

In a recent visit with my daughter and her husband, we played a game where we chose our top 3 values from a list of 30. Then we discussed whether we were living in accord with those "stated" values. And it got me thinking about what's really important in life. 

 

As an investment professional, I spend way too much time thinking about finance, investing and money. Yet, realistically, as I enter the final trimester of life, it becomes clearer that time can't be replaced and is more valuable than money. 

 

I know this for a fact, but still have difficulty implementing this reality in life. I lean towards perfectionism and tend to spend (waste) too much time "fine tuning" when "good enough" works!

 

Research has shown that beyond a certain point, more money is not directly correlated with greater happiness - and more money can't buy more time.

 

So, how does one resolve the time vs money conundrum and use their money to create more time?

 

Growing and managing your money to give you more financial freedom and time is important, regardless of whether you are beginning your wealth building journey or you are near your financial goals.

 

 

 

 

Read: Quicken vs Personal Capital | Which is the Best Money Management Tool?

 

 

Consolidate duplicate accounts, like multiple IRAs. Rollover 401k's into IRAs from previous employers.

 

Evaluate your investment strategy and consider using a robo-advisor. These digital and hybrid (with financial advisors) automate investment management and free up time to spend on other areas of your life. (I have robo-advisor accounts at M1 Finance and Schwab Intelligent Portfolios)

 

Read: Best Robo Advisor Guide for 2022

 

If you love managing your own investments and researching potential assets, then enjoy the time you spend in this activity, and compare your returns with those of passive index funds, to make sure that you are profiting.

 

 

If you have a 401k, invest as much as you can into low fee index funds or a target date fund.

 

If possible, automate contributions into a taxable investment account to further build wealth. 

 

If you manage your own investments, make sure to rebalance them annually, back to your preferred asset allocation. If you invest with a robo-advisor, they will rebalance for you.

 

For more investing and finance information please listen and subscribe to the Money Tree Investing Podcast. (I'm a weekly panelist)

 

Visit my YouTube Channel (and subscribe) for robo-advisor comparisons, reviews, and wealth building ideas. 

 

I wish you more time and wealth in the coming year.

 

Please respond to this email and tell me how you handle the time vs money tradeoff. I read all my emails.