Dec 2
Accrued benefits, compounded interest, and passive income. . .who cannot be impressed with how much money a ten-year-old might have at retirement if they would only save a thousand dollars a year? The drawback is the people seeing such charts are usually forty-somethings who still have not saved a thousand dollars a year and are often heard saying, “If I had only known this twenty years ago…” Read more
How often have you heard, “If I only knew then what I know now, things would have been different?”
When was the last time you were in the midst of a major project and found something crucial had been overlooked or was missing? All your good intentions ground to a halt, the rhythm broke, you got discouraged, perhaps the whole project was set aside.
What feels worse than that sick chagrin in your stomach when something you ought to have done was not done and the day of reckoning has arrived? Read more
For those more familiar with the kitchen than the tool shop, one of the time tools over there in the corner looks strangely familiar . . .could that really be a carrot hanging above the workbench?
An office worker recognizes it as a record of rolled over unused vacation days and personal time off hours, common accrued benefits of the business world.
The entrepreneur is sure the tool looks a bit like the passive income generated by the interest, rental income, and astute investments he is used to seeing.
Think of the tool as accumulating future benefits. A small benefit, of little value at the present time, but increasing consistently over the years until it reflects a substantial amount. Read more
Here is where to begin reading Daily Dose 31-40 in order.
When we attend an event, we make any necessary preparations (mark the calendar, change clothes, gas the car, leave in time) to get where we need to be to participate. When we attend to our children, we focus on what they need and do it without distraction. Soldiers called to attention, put themselves in an alert and ready position to hear actively and to respond immediately to whatever they are ordered to do. Students attend class, which should mean complete preparation out-of-class of anything needed to participate competently in class, rather than (too often) being marked physically present in class, even though the mind, engagement, and focus are elsewhere and course work is incomplete or undone. Read more
When we hire the appliance repair man or the car mechanic, the doctor or the consultant, what are we paying for? Sometimes we are paying for their specialized tools and their access to replacement parts. Sometimes we are paying for the concentrated practice that has made them an expert. Always we are paying for their ability to quickly assess and diagnose what needs attention. In a word, we are hiring expertise, and at a hundred dollars an hour, the operative word is quickly. In our homes, and personal lives, we are (or ought to be) the experts who must quickly assess whether automation or attention is needed. Read more
Priority Stewardship 