A few years ago, my friend Vanessa said that her sister is not motivated by money and does not aspire to have a successful career. In her sister’s words, she doesn’t have income goals, she has lifestyle goals.
Since then, a new term has emerged: the time millionaire.
What is a time millionaire?
Some resources:
- https://www.forbes.com/sites/servicenow/2021/12/15/who-wants-to-be-a-time-millionaire/?sh=4b673eaf355a
- https://medium.com/personal-growth/time-billionaires-what-it-means-to-be-truly-wealthy-e4773cbc7489
- https://www.timevaluemillionaire.com/time-millionaire/
- https://www.thomasnet.com/insights/time-millionaires-prioritize-leisure-over-tangible-wealth-thoughts-after-dark/
Not everyone will understand, especially older generations. A lot of their self-worth might be tied up in work. They may not have hobbies. Work is their recreation. So they might see us as lazy.
People work at jobs and try to put aside a little extra money so they can take two weeks of vacation every year – and that’s if they don’t have to use the “PTO” (paid time off) because they or a loved one is sick. But most of us would like do more than two weeks’ worth of fun stuff. Unfortunately, we have to choose. And whatever we choose has an opportunity cost. If you take a trip to Italy, you may not have the time or money to visit your aging aunt in Florida.
What if we had the time and money to vacation all the time? To go where we want when we want. That’s what financially free time millionaires get to do. And that’s why becoming financially free should be such a big priority.