Money is Time

by Sean Owen
Benjamin Franklin

Lost time is never found again.
—Benjamin Franklin

Time is money. You’ve heard it a thousand times, and it makes sense. But have you ever considered it the other way around? After all, if time is money, then money must be time. It may seem like an odd concept, but as it turns out, the analogy holds up quite well. More importantly, thinking of money in terms of time is one of the best ways to adopt a more healthy attitude about spending vs. building wealth. Read on to find out how. [Click to continue...]

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On the Resurgence of Stoicism

by Sean Owen
Seneca the Younger

We all have finite time and energy. Any time we spend whining is unlikely to help us achieve our goals. And it won’t make us happier.
— Randy Pausch, the Last Lecture

Over the past year I have read a number of inspiring articles and books on the classical school of Stoicism. What I learned was surprising — Stoicism may be an ancient philosophical school, but it is extraordinarily well suited to modern life. It offers an eminently practical path to a life of happiness and fulfillment, and while growing material wealth is not the primary focus, it is a near inevitable side effect. Let’s take a brief look at the central tenets of Stoicism, and their benefits. [Click to continue...]

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Min-Max Your Life

by Sean Owen
The Prince and the Pauper

A hundred million dollars in New York and twenty-two fish-hooks on the border of the Arctic Circle represent the same financial supremacy.
—Mark Twain

I hosted Thanksgiving in my home for the first time this year. In a rather pleasant reversal of roles, my mother assisted me in the kitchen as I prepared the feast. She spoke admiringly of my All-Clad roaster, my Le Creuset enameled cast iron pans, and my Gunter Wilhelm knives, among other things. She seemed far less impressed when the time came to set the table, though, as I pulled out the mismatched plates and silverware I had bought at Goodwill in 1998, and glasses from Dollar Tree. What’s behind this apparent contradiction?

[Click to continue...]

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Building Wealth is Like Losing Weight

by Sean Owen
Give Us All Your Money And Three Big Macs To Go
Image by Jeremy Brooks

My problem lies in reconciling my gross habits with my net income.
—Errol Flynn

Building wealth and losing weight are both simple in theory. There’s really only one step to each. To lose weight, simply burn more calories than you eat. That’s it. If you do that consistently, day after day, you will lose weight. You may not lose as much as you’d like as quickly as you like, but you will lose weight. Period. Nothing can change this fact — not your metabolism, genetic profile, family history, or any other excuse or rationalization you can come up with. No one can escape the laws of physics.

Similarly, if you consistently spend less than you earn, you will get richer. Again, perhaps not as quickly as you’d like, but your net worth will grow.

Simple, right? So why do so many of us struggle with both? Why are Americans the worst savers and most overweight people in the developed world? [Click to continue...]

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What is Wealth?

by Sean Owen
Paper money
Image by Kevin Dooley

I’ve been rich and I’ve been poor. Believe me, honey, rich is better.
— Sophie Tucker

If you were to survey a random group of people, chances are most would agree that, all else being equal, being rich is better than not being rich. Ask that same group of people what being rich actually means, however, and you’re likely to get a wide variety of answers. So ask yourself before you continue — what does “rich” mean to you? [Click to continue...]

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