Stop Wasting Time!

Taking a month off and living in Paris has given me plenty of time to do those things that I may have been putting off for a rainy day.  And I don’t see many rainy days living in San Diego.

Today I was getting caught up on some of the reading material I’ve been meaning to get to for the past 6 months.  I came across this wonderfully insightful and powerful bit from Stephen R. Covey – “Stop Wasting Time!”

Imagine a large building that looks like a bank but is not.  A brass marker on the front door reads:  “Time for Sale.”  All day long, people rush in and out of the building to purchase time.  A man says, “Now I will buy the five years I need to prepare for a big promotion.”  A woman says, “I wasted the last three years I had with my daughter; I will buy them back and make them more productive.”  Each person leaves the building with what they desperately wanted:  time to do the many things they had failed to do, or that they wanted to do.

You stop one man, a business executive, and ask him, “What will you now do differently with your time than you have done before?  How will you be more effective?”  The man only returns a blank stare.  He has no idea what he will do differently or how he will be more effective.

Time is the currency of your life.
How will you invest it?

In financial terms I cannot think of a more appropriate, serendipitous, parable.  I’m constantly asked by investors my opinion on “what should they do?”.  “Should I invest now or later?”  “Should I take advantage of all the distressed opportunities I’m hearing about?” Or my favorite, “I’m going to wait for the bottom of the market!”

Let me ask you, “What will you now do differently with your time than you have done before?  How will you be more effective?”  What I can tell you is this…

Do Something!

The last time we as investors had this kind of opportunity was in 1989-1995.  If you didn’t take advantage of the down cycle then, it’s going to be a long time before you’re going to see it again!

NOW, is the time to invest.  NOW is the time to make a decision.  NOW is the time to build, rebuild or build upon your financial future.  NOW is the time to insure you have a retirement which greets you with a life of abundance and not scarcity.  Life does not afford you many “practice” sessions so you need to get it right.  Timing and taking decisive forward action are critical.

Tune in tomorrow as I take this wonderful piece of wisdom from Mr. Covey and place a financial twist on it.

Wishing you the best,

Chief Denney


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