Time Poor to Time Rich – How?

Some days I wish it was more, but we only have 24hrs in a day less the 8 hours for sleep/rest and that leave us with about 16 hours. Then there’s the 8 hour work day, which is more like 10 hrs when you factor in travel etc, so that brings us to 6 hrs of leisure time to scram in socialising, running the house, feeding ourselves, exercise, hobbies, fulfil our dreams and if you have kids, well the picture is pretty well spelled out – we are time poor these days!

What can we change? Where can we find more time?

From a health, rest and recharge point of view we are advised to try to keep 8 hours for sleep or complete rest. In terms of leisure time, it really doesn’t compute to us humans that we should give ourselves this time which is what makes our lives fulfilling and gives us purpose, so it really is a non-negotiable. Therefore, the only area we can gain more of the limited hours in the day is through working less. Sounds easy, but of course it’s not that simple. The majority of people work to generate the income they need to, in basic terms, survive and in more fulfilling terms, to provide for the lifestyle and standard of living we aspire to have.

So should you just succumb to the realisation that you are going to have to work for the rest of your lives to generate the income you need? I would hope not, because there are opportunities available to you. Building passive income streams from investments is a great way to build wealth and to initially supplement your income and then eventually replace your working income.

In our business one of the best strategies we use is advising our clients to consider investing in residential property and then building a portfolio of properties over time. Because well selected investment grade properties are proven to be very good in providing regular and consistent rental income and also capital growth.

Too often I observe individuals and families who are so caught up in there day to day lives, because they have limited free time as it is to even consider spending some of this time to learn how their current income could in fact be making more money for themselves.

I recently did a story on Melbourne Property TV that highlights with examples how you could potentially build passive income for life and I encourage you to watch this and the follow up more detailed explanation illustrating how we go about building passive income for life and become more time rich!

Knowledge is empowering if you act on it.