If You Are Poor and Unhappy, This Interests You

True Wealth

You've probably heard the phrase "Time is money." Maybe your dad said it when you were taking too long to get ready for school or your boss when they wanted you to finish a report quickly. Although it's a common phrase, time is actually much more valuable than money.

In our lives, we're always in a tug-of-war between time and money. We work to earn money, like when you work forty hours a week to receive a salary of $1,200. Or you sacrifice your Saturday morning to earn extra money by mowing the lawn. Then, we spend money to save time: we pay $2,000 for a vacation or $500 to a housekeeper to free up time.

We tend to treat time and money as if they were equal, but they are not.

One of the reasons that pushed me to start investing is this reflection. Obviously, I could show the graph of how the dollar (or any other currency) loses value over time if it's not invested, but today I want to go a step further. A reflection that I hope will help you.

The Diminishing Marginal Utility of Money

In ec…