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What is the greatest asset in life?

There are only three assets that matter to live a long, happy life: Health. Time. Money.

themakingofamillionaire.com - The 3 Most Important Assets In life | by Ben Le Fort - Making of a Millionaire

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The 3 Most Important Assets In life

Money is #3, and it’s not even close

There are only three assets that matter to live a long, happy life:

Health Time Money

The key to a successful life is to maximize all three assets to the best of your ability. When many of us are born, we have health and time but no money. So, we make the rational decision to trade time (an asset we have plenty of) for money (an asset we have little of.)

This becomes a problem when two conditions are met.

We trade in too much of our time for money (we work too much) We do work that we don’t enjoy and don’t find fulfilling. This leads to a situation where you think you’re trading time for money, but you’re really trading time and health in exchange for money. The World Health Organization (WHO) published a research paper that found people who work more than 54 hours per week were at greater risk of dying from heart disease.

Nearly 750,000 are literally working themselves to death each year.

As someone who’s often described themselves as a “grinder’ (a self-aggrandizing way of saying I work too much), this research scares the hell out of me. Mostly because when I read it, my first reaction was, “that makes perfect sense, and if I am being honest this directly applies to me.” Now that I am a father, I have a newfound appreciation for the immense value of time and health. It fills me with pride that I am building enough wealth to make my son’s life easier than mine was. But I fear my anxieties around money might be leading me down a path where I’m trading in way too much time and health for money. Money and the accumulation of wealth can feel like a drug. You always want more, and the more you get, the less satisfying it is. I’ve talked about how saving my first $100,000 was a life-changing achievement for me. But when I saved $200,000, it barely registered with me in any meaningful way.

Does working less mean making less money?

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There are two belief systems around work and money that both feel intuitively correct but are in direct opposition to each other.

Hard work pays off. Work smarter, not harder.

I’ve had a side hustle my entire adult life, so it’s safe to say that I’ve leaned into the idea that the most important condition for success is working hard. What I’ve come to realize is that hard work is what matters most when you are young and trying to establish yourself in your career. But as you get older, have a family, and take on more non-work responsibilities, you need to begin finding ways to work less. I always assumed that working less meant making less money. But the deeper I go into my side hustle/second career of writing, the more I question that assumption. As I’ve grown my audience as a writer, I’ve had months where I’ve earned as much money from writing as I do from my day job. That is a mind-opening experience. Those months make me believe that I could work less, have fewer responsibilities, and not give up much (if any money.) In fact, the ironic truth that I am beginning to believe more and more every day is that if I gave up my 9–5 job and divided those extra 40 hours per week to resting more and working on my writing career, I could end up making more money than I do right now while I am deeply entrenched in “the grind.” If a good month of writing where I work 15–20 hours per week is equal to 40 hours per week at a 9–5, how much could I earn with 40 hours spent writing? Especially if those 40 hours are more rested and focused. Here are the things I keep telling myself that keep me from working less Income from writing is too volatile . Right now, if I have a bad month where I don’t earn much from writing, it’s no big deal because writing is my side hustle. If writing were my main source of income, that would be a nightmare. . Right now, if I have a bad month where I don’t earn much from writing, it’s no big deal because writing is my side hustle. If writing were my main source of income, that would be a nightmare. Will people think I’m a slacker? This might sound silly, but when a large part of your identity has been built around working hard, deciding to work less causes a ton of friction in the mind.

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This might sound silly, but when a large part of your identity has been built around working hard, deciding to work less causes a ton of friction in the mind. Having a child means added expenses. My son will be in daycare for the next 3 years, which where I live, costs about $1,200 per month.

A 3-year plan

Working from home has meant no commuting to the office and no travel for work. I must acknowledge what a gift that has been and how much stress and time that has freed up for me. Where I’ve landed is that I will continue to “grind it out” until my son finishes daycare by continuing with my 9–5 and my side hustle.

During that time, I have two major goals.

Scaling my writing income and begin looking at it as a business rather than a job. Investing every penny, I can find into assets that produce passive income. If I can accomplish those two goals, I can put myself in a nearly unbreakable financial position where I can work less, enjoy life more, protect my health, all while never having to worry about money. Working hard seems much more manageable when you have a plan that included a clearly defined end date, like when my kid finishes day care.

themakingofamillionaire.com - The 3 Most Important Assets In life | by Ben Le Fort - Making of a Millionaire

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