Advice for Future Self – Letter to future self

Sometimes, we just wish that we could go back in time to tell ourselves what we should have done.  But let’s face it, we cannot change the past. However, we can change the present and future.

So, stop living in the past and move on. Live in the present. Live for the future.

Our time is limited. We do not live forever

If you start to think this way, you will manage your life better. Everyone’s life is different. At every stage of your life, you will have different priorities.

When we are young, we tend to think that we will live forever and spend our time and life like it is not going to end. But, we have to realize that we grow old day after day. And lost time cannot be brought back.

Learn to do something worth while and valuable. Whether it’s for you or for the world. Live a life of purpose. Don’t let time pass by.

Time is your most valuable asset

Like money, we do not value our time as precious as our money. We trade our time for money by working for something we do not like to make some money.

Have you ever wondered why do we think that the more hours we put into work, the more money we earn? Is this way of thinking still valid in today’s world? Our time is limited and lost time cannot be bought back.

Using money to work for you

Do not trade time for money. Instead, use money to work for you. Imagine that every dollar you have is like your workers. Put your money to good use. Invest your money in multiple sources. Let your money work for you. Albert Einstein once said, compound interest is the eight wonder of the world.

Live your dream

Your time in this world is too valuable to live someone else’s dream. It’s time to live your own dream. Pursue your own dream. Don’t live for someone else. It’s your life. It’s your time. Why do we budget our money but not budget our time? Isn’t it strange? We always have the extra time for gossiping about our co-workers but not the extra money to invest.

We should value time as precious and more valuable than money or gold.

Plan for the future

We live our present life to plan for the future. Plan for retirement. The day will come sooner than you realize. Every mundane repetitive work we do everyday, we grow older and older.

Stop comparing your life with others

All our lives are different. We are born of different parents. Different countries, different social economic class in society. Stop comparing your life with someone whom you think is relatively richer than you. Start living your life and accumulate knowledge. Accumulate wealth.

Have a purpose

What is your purpose in life? What should you do to live a purposeful life? Think of something that you can bring value to someone else’s life. For example, if you are a teacher, you bring value by educating the young to prepare for the future. If you are a doctor, every little life saving procedure that you do can do good and bring a positive impact to the society.

Don’t waste your life and waste your time in this world by taking on drugs. It’s not worth it. Your life is more valuable that that.

We all have our down times 

Just like in the stocks market, sometimes we feel depress and sometimes euphoria. Not that you are suffering from bipolar disorder, it’s just the way life is. Sometimes we feel happy, success and great. And sometimes we feel sad, despair, disappointed. Sometimes it’s not to our ability to change this.

Whatever happens, happens. We cannot change it. But we can change our views and live a more positive life. Always view life in a positive light.

Sometimes, it doesn’t really matter in the end. So you have lost all your money in the stock market, you will surely feel bad now. But you have to believe in yourself that you will get it all back later, even if it takes a longer time frame. Maybe something good will come from that too. You will learn to balance your risk and approach using a different strategy.

Everything is changing, it’s evolving

We do not stay static all the time. The old will fade. We must all change or we will all become obsolete. The world is not what it used to be. There was no smart phones, autonomous self driving cars, artificial intelligence in the past. We must learn to embrace the future. After all, we all want everything to be faster, more precise and better. We want to save time by cutting down unproductive activities such as driving cars, or working in a boring autonomous job.

The future is here. Learn to see the world differently. Imagine a world that we can travel from one hemisphere of the earth to another in just less than an hour, instead of one full day.

Imagine that you do not have to place a call to the barber shop for an appointment, costing you about 10 minutes of your life that you cannot get back. It can now be done by artificial intelligence, whereby you instruct your phone to place an appointment and it will automatically call the barber to place an appointment.

Opportunity cost

Yes it exist. Whatever you are doing at the moment is costing you. What this means is that, if you are spending your time drinking alcohol with your friends, you are allocating that time in which you could have used it to work, earn money for example. However, it’s not to say that you should allocate all your time to work and no play. We need to balance our time.

Spend more time on productive activities and less on fun. But not totally cut on fun. It will have a toll on your life, you will feel that your life is all work and boring.

Work is not the most important thing in life

You should also realize that work is not the most important aspect in your life. You cannot replace lost time in work. Therefore, don’t work on something that is not meaningful or interesting in your life. Do something that interests you, do something you love. That way, you will enjoy better.

Spend a little money to save time

Depending on your net worth, you might want to save some time by paying for your laundry instead of washing on your own. You might rather pay for a driver than to drive yourself and search for parking. Wealthy people view differently when it comes to money. They value time more than they value money.

Spend some money for someone else to do it for you instead of doing it yourself. It will save you productive time that you can do something else. It’s opportunity cost.

Choose quality and avoid cheap

Cheap products are cheap for a reason. Most of the time, it’s because it is made of inferior quality. Not to say spend money on the most expensive item. It’s just that you should avoid the cheapest thing you can find because let’s face it, cheaper products are inferior compared to expensive products most of the time. But not all the time of course.

You should spend a little bit more money on a better pair of shoes or bag than to save that little money choosing a lower quality one. It will last longer and provide more value to you in the long term.

Same with stocks picking. Most poor people feel that they cannot afford to buy a blue chip stock, and instead choose to invest in junk stocks. The wealthy choose quality over price.

Learn and study economics

Let’s face it. We are living in a capitalism world. You have no choice but to learn about supply and demand and how it affects people. It’s all related. Money, currency, stocks, politics, societies, economies, it all revolves one another. Some economic policy being implemented will have an effect in the world.

To live a comfortable life in today’s world, you need to accumulate wealth. View money as your fuel. You use money to work for you. You can get more food, more security when you have more money.

Money is the root of all evils? Or the lack of it is the root of all evils. Being wealthy is definitely better than staying poor.

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