As much as we cling to a scarcity mindset when it comes to money, we are equally challenged by time scarcity. The perception of not having enough time is a common barrier that prevents many from pursuing new opportunities. This sentiment is particularly resonant among those on the periphery of financial stability, juggling multiple jobs, night shifts, and extra hours just to make ends meet.
Personally, I can't claim to understand this firsthand. I've never experienced the strain of living paycheck to paycheck, nor can I fathom its daily pressures. However, scientific research sheds an intriguing light on the matter. Studies indicate that wealthier individuals often work longer hours and enjoy less leisure time—a phenomenon explored by Derek Thompson in his article for the Atlantic. He describes a paradox where the affluent, traditionally presumed to have ample free time, actually find themselves working more, while those on lower incomes, expected to have less leisure, paradoxically have more.
Thompson offers various explanations for this trend, but the data underscores a significant point: leisure time is more abundant now than ever before. According to analysis from the American Time Use Survey, the average American enjoys over five hours of free time daily. Interestingly, this figure is even higher among individuals with lower incomes or educational attainment.
Despite these statistics, the scarcity of free time doesn't universally deter people from pursuing their aspirations. In fact, if you are pursuing Little P Purpose correctly, I suspect you have less free time than ever.
There is too much to do!
Today’s Poll
Did you catch this week’s episode of Earn & Invest (Click to listen)?
Path to Purpose Coaching
Over the last year, writing my new book The Purpose Code, I have spent a huge amount of time thinking about, writing about, and discussing purpose. I have offered one-on-one and group coaching to my mastermind group, Wealth With Purpose. These discussions stem from my real life encounters with dying hospice patients as well as the numerous interactions I have had with people after reading Taking Stock.
What I've found is that most of us who listen to the Earn & Invest Podcast struggle with three basic issues:
How do I define purpose in my life?
How do I transition to a more fulfilling career?
What is enough money look like? Enough life?
To help navigate these waters, I have decided to offer the Path to Purpose coaching program. This is one-on-one coaching with me to help you further define purpose, direction, and career. Sessions will be spread over five weeks with a goal to provide a more concrete and enjoyable path to crack the purpose code and start living your life now whether you are broke, pre financial independence, financially independent, or beyond.
https://www.earnandinvest.com/coaching
We over worry about our days, and under worry about our decades.
I think the time scarcity that should occupy us is that we will die, but more imminently, the era we are in will end.