A redistribution of youth. Please discuss....
Discussion
A Redistribution of Time
By Vedran Vuk
At all moments, we must choose what to do with our limited time. Should we play golf or read up on our investments? Even more importantly, should we read about investments now so that we may play more golf in the future? This is an essential life question. Foregoing current enjoyment for future leisure is a theme beyond investing.
In youth, we all face a trade-off between amounting human capital and enjoying the present. For future wealth or financial security, individuals must sacrifice time in their younger days. It’s a very tough call to make. A million dollars at age 50 will never buy the careless nights of youth exploring bars, staying out late, and generally acting a fool. There’s a phrase for the older individuals attempting to recapture these nights – “mid-life crisis.” Youth is priceless. Unfortunately, wealth and security often comes at the price of time and youth.
Think about medical doctors. Their 20s go entirely down the drain due to the length and intensity of their education. Sure, studies can be satisfying, but it’s just not the same as having a zero-worries job in your 20s. The guy bartending and waiting tables for the same period is easily having a better time than the med student. Often, his biggest worries are determining next weekend’s dive bar to attend with his buddies.
When young, the thrills are cheap and don’t involve exotic vacations and golf club memberships. Countless adventures, laughs, and unforgettable moments take little more than good friends and a night on the town. On the other hand, the only fun a medical student will experience for the next decade is a warm cup of Ramen noodles and a Netflix movie. It’s a tough trade for any young man or woman.
Most wealthy individuals didn’t build their wealth on 40-hour weeks. Whether starting a small business, pushing 70-hour work weeks, or acquiring professional degrees, early sacrifices are key to later success. I’m not saying that everyone should work like crazy. It’s a personal choice, and everyone finds their own balance. Is it better to live in the library for a decade in exchange for a mansion later, or is it better to live wild and free when young and finish up in a cheap retirement home? It’s impossible to say. The answer depends on the person.
Life naturally offers us this trade-off. However, when youth ends, problems arise. Often, those who chose to play golf first refuse to take the consequences after the 18 holes are done. When the game is over and age sets in, one begins to ask, “Who’s going to pay my retirement? My healthcare? My kid’s college? Who’s going to give me a steady job?” More often than not, the answer is “That other guy!”
Wealth may be unequal, but time is not. In fact, time is quite egalitarian and moves at the same pace for everyone. All of us have a youth – and many of us traded it for a better life in the future. While the masses enviously look at wealth and plan their progressive taxes, they don’t see the sleepless nights in libraries, the nerve-racking deadlines, and the insane hours – while others were partying and having a good time. Look at a rich person today, and you’ll see someone very well off. Look at the same person in their 20s, and you’ll see someone struggling with a lifestyle much less exciting than his peers. Though not immediately apparent, a redistribution of wealth is also a redistribution of time and youth.
By Vedran Vuk
At all moments, we must choose what to do with our limited time. Should we play golf or read up on our investments? Even more importantly, should we read about investments now so that we may play more golf in the future? This is an essential life question. Foregoing current enjoyment for future leisure is a theme beyond investing.
In youth, we all face a trade-off between amounting human capital and enjoying the present. For future wealth or financial security, individuals must sacrifice time in their younger days. It’s a very tough call to make. A million dollars at age 50 will never buy the careless nights of youth exploring bars, staying out late, and generally acting a fool. There’s a phrase for the older individuals attempting to recapture these nights – “mid-life crisis.” Youth is priceless. Unfortunately, wealth and security often comes at the price of time and youth.
Think about medical doctors. Their 20s go entirely down the drain due to the length and intensity of their education. Sure, studies can be satisfying, but it’s just not the same as having a zero-worries job in your 20s. The guy bartending and waiting tables for the same period is easily having a better time than the med student. Often, his biggest worries are determining next weekend’s dive bar to attend with his buddies.
When young, the thrills are cheap and don’t involve exotic vacations and golf club memberships. Countless adventures, laughs, and unforgettable moments take little more than good friends and a night on the town. On the other hand, the only fun a medical student will experience for the next decade is a warm cup of Ramen noodles and a Netflix movie. It’s a tough trade for any young man or woman.
Most wealthy individuals didn’t build their wealth on 40-hour weeks. Whether starting a small business, pushing 70-hour work weeks, or acquiring professional degrees, early sacrifices are key to later success. I’m not saying that everyone should work like crazy. It’s a personal choice, and everyone finds their own balance. Is it better to live in the library for a decade in exchange for a mansion later, or is it better to live wild and free when young and finish up in a cheap retirement home? It’s impossible to say. The answer depends on the person.
Life naturally offers us this trade-off. However, when youth ends, problems arise. Often, those who chose to play golf first refuse to take the consequences after the 18 holes are done. When the game is over and age sets in, one begins to ask, “Who’s going to pay my retirement? My healthcare? My kid’s college? Who’s going to give me a steady job?” More often than not, the answer is “That other guy!”
Wealth may be unequal, but time is not. In fact, time is quite egalitarian and moves at the same pace for everyone. All of us have a youth – and many of us traded it for a better life in the future. While the masses enviously look at wealth and plan their progressive taxes, they don’t see the sleepless nights in libraries, the nerve-racking deadlines, and the insane hours – while others were partying and having a good time. Look at a rich person today, and you’ll see someone very well off. Look at the same person in their 20s, and you’ll see someone struggling with a lifestyle much less exciting than his peers. Though not immediately apparent, a redistribution of wealth is also a redistribution of time and youth.
I like to think I have planned so I can enjoy my youth while also having a safe future.
I'm only 20 so its impossible to say how my life will actually turn out.
I buy things I like and attempt to live life to the full, but at the same time not at the expensive of destroying my savings which will be so important for the future.
I study hard, but I always play a lot harder. So hopefully I will look back in the future when I have my dream job and can say to myself that my youth wasn't wasted.
The people I know who chose not to study and to 'live' their lives are now stuck in a mind knumbing jobs doing feck all, while I'm having the best years of my life.
I'm only 20 so its impossible to say how my life will actually turn out.
I buy things I like and attempt to live life to the full, but at the same time not at the expensive of destroying my savings which will be so important for the future.
I study hard, but I always play a lot harder. So hopefully I will look back in the future when I have my dream job and can say to myself that my youth wasn't wasted.
The people I know who chose not to study and to 'live' their lives are now stuck in a mind knumbing jobs doing feck all, while I'm having the best years of my life.
Edited by anonymous-user on Tuesday 22 June 17:15
Guvna said:
I don't think getting a good education means having a boring youth. Infact, the opposite.
People I know had a great time at uni. I also know people who didn't go to uni and have had a comparatively dull time.
I agree, had an amazing time at Uni despite choosing a 'tough' degree (Mech Eng.), work hard, play hard People I know had a great time at uni. I also know people who didn't go to uni and have had a comparatively dull time.
The degree led to my first job, where I've travelled all over the world. In contrast, a few of my friends who went straight out to work have hardly left the town they were born in. Though they did enjoy years of splashing the cash around when I came home for holidays.
Edited by hyperblue on Tuesday 22 June 17:22
It sounds like it was written by someone who doesn't know how to prioritise and manage time effectively. The medical student example - I knew plenty of medics at Uni who certainly had a great time. Yes they worked hard but they also had great social lives and plenty of time to enjoy themselves.
In my opinion and in my personal experience, it's not an either/or choice between working hard and enjoying your youth. There's no reason you can't do both. You can have a great time while young AND ensure your future (as much as any of us can do that).
In my opinion and in my personal experience, it's not an either/or choice between working hard and enjoying your youth. There's no reason you can't do both. You can have a great time while young AND ensure your future (as much as any of us can do that).
Edited by ewenm on Tuesday 22 June 17:45
I just thought it was an interesting piece on a day when the budget says they are going to target the rich more. I remember last year that Harriet Harman said that those who had benefited most from the 10 years of Labour boom must bear the largest tax burden. What if you didn't benefit and were working your b
ks off to get there and then the hike taxes all over the place.
ks off to get there and then the hike taxes all over the place.Edited by R11ysf on Tuesday 22 June 18:22
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