The Ultimate Scarcity In Life

I had the privilege to celebrate the 97th birthday of my husband’s godfather last week. It was a timely reminder of the passage of time. Though physically frail, he’s firing on all cylinders mentally. He was captivating and engaged in discussions on A.I, US presidential elections, recent Iran-Israel attacks, Ukraine war and the upcoming visit by the Pope to Singapore.

A handful of surviving ex-colleagues and students dropped by and they reminisced about memories past, sharing a chuckle and loads of nostalgia. When asked what kept him so joyful, he replied: “I enjoy the things I still can, while letting go those that I no longer can. I treasure what I’m still able to do today, mindful that I may not be able to tomorrow”. How wise.

Time

The ultimate scarcity for all of us is time. It’s the one resource that’s finite and non-renewable. Unlike money, possessions or even relationships, time can’t be stored or reclaimed. Every minute that passes is a minute we never get back. 

Since stopping work, I have transitioned from structured work schedules to a more flexible and open-ended lifestyle. I’ve been lured into the false belief that time is at my disposal. How wrong!

The preciousness and scarcity of time is universal. Witnessing my uncle and his well-wishes jolted me back to reality, and started me pondering and deciding on how best to ‘retain’ time.

• Avoid Procrastination

  Having all the time in the world with no one to impose deadline on me, procrastination is an issue sometimes. Self-discipline can be a struggle when choosing something ‘nice’ over something ‘necessary’. So instead of attending the 3rd dinner do in a week, I will be firm about filing tenancy agreements and handling insurance renewals. Do what is necessary first before indulging in ‘niceties’.

• Clarity

  Identify and minimise distractions that can derail my focus, consuming precious time. I should set strict criteria instead of taking interest in everything that caches my fancy.

This was demonstrated by a friend recently when my husband and I joined her to view a property. It is located in Velez-Malaga, a historical town 40km outside Malaga, known for its coastline, quaint mountain villages and touted as up-and-coming. The investment property has potential and the town indeed has a lot of new construction and rejuvenation. The air is thick with opportunities and promises. 

After a round through the city, our friend decided against the purchase. While she sees its potential, she can’t afford to wait 10 years for it to prove itself. Clarity saves time.

• Say No

  A big part of setting boundaries is learning to say no. By being selective on how and with whom I spend my time, I avoid overcommitments and being overwhelmed with activities instead of productivity. ‘No’ is a small word with disproportionate consequences.

• Time Blocking

  This involves dedicating specific time blocks to different activities and tasks. Since discovering the Pomodoro Technique I like using it to structure my day to focus on each task. This way I minimise multitasking, increase focus, productivity and ensure that important tasks get the attention they deserve. Additionally, I sneak in tension-releasing stretches during the 5-min break after each 25 minutes of concentration to alleviate my cervical spondylosis. 

• True Goals

  Know my true goals. I no longer want to chase after that extract 2% ROI if it means spending substantially more time. What’s the point of spending endless hours to uncover under-valued small-cap stocks that may become a 10-bagger? The known and high price paid, ie countless hours, is not worth it once I know that time is what I seek to maximise. Beyond a certain point, it doesn’t make sense to exchange time for money. 

Isn’t it ironical that we are programmed to spend time chasing after money to buy the ultimate freedom, which is time itself?

• Prioritise Health

  Without good health, time loses much of its value. I will make time for activities that promote physically, mental and emotional well-being. My approach to exercise, relaxation, hobbies and spending quality time with loved ones is through doing something everyday. This enhances my overall quality of life and enables me to approach tasks with renewed energy. To enjoy a good retirement, you’ve got to take health seriously for it is the very foundation of it. 

• Embrace Adaptability

  While planning and structure are important, it’s even more crucial to be adaptable. Adaptability is the best tool to handle unexpected events and opportunities, an essential life skill. Being adaptable will help navigate changes more effectively, making the most of every moment, which is the hallmark of quality time. 

• Spontaneity 

Routines can provide structure and stability, but spontaneity and first experiences infuse life with excitement and adventure. We can all treasure time by being open, whether it’s trying a new cuisine, exploring a new hobby or taking an impromptu road trip. Living life according to a mantra of ‘Why Not’ invites serendipity, enriching the tapestry of existence. 

• Balance 

Treasuring time is about finding the right balance. Between productivity and leisure, between solitude and social interaction, between planning and spontaneity. By creating a harmonious balance, I optimise my days, which become my life. 

Treasuring time is a personal journey requiring intentionality, mindfulness and a commitment to living life to the fullest. Regardless whether you’re a retiree enjoying the fruits of labour or someone still navigating the demands of work and family life, time is the ultimate scarcity for us all. Accept the march of time instead of fighting it, for that is a losing battle. Learn to understand and respect its scarcity and lead a fuller existence.

 Life is the ride, time is the train.

 

 

Time wise,

Savvy Maverick

 

(Main image: Savvy Maverick)

Disclaimer: The views expressed here are drawn from personal experiences and do not constitute financial advice in any way. Nothing published here nor any data or content should be relied upon to make investment decisions. Please do your own due diligence. Source data and information cited will not be updated after publication.