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Message
How do you value time in your decisions?
Posted on 1/22/16 at 7:43 pm
Posted on 1/22/16 at 7:43 pm
NOT:
Talking about the X-axis in your financial models.
Talking about n in your (1+k)^n time value calculations
IS:
Talking about the value you place on time in your long-term decisions.
When you take a decision, how do you view time available to you on said decision? ie, no guarantees that this time is yours. Risk is at the core.
Sorry for the theoretically real question on a Friday night.
It is a personal dilemma. And, I courageously (a'hem, stupidly) lean on the MT board for insights. Talk to me.
Talking about the X-axis in your financial models.
Talking about n in your (1+k)^n time value calculations
IS:
Talking about the value you place on time in your long-term decisions.
When you take a decision, how do you view time available to you on said decision? ie, no guarantees that this time is yours. Risk is at the core.
Sorry for the theoretically real question on a Friday night.
It is a personal dilemma. And, I courageously (a'hem, stupidly) lean on the MT board for insights. Talk to me.
2
Posted on 1/22/16 at 7:49 pm to BayouSizzle
An inferior decision made timely is better than a superior decision made too late.
Posted on 1/22/16 at 8:34 pm to BayouSizzle
I would like to contemplate but don't understand this part...
quote:Are you saying what is the value of extra time to make the decision, or how much do you value your personal time?
When you take a decision, how do you view time available to you on said decision? ie, no guarantees that this time is yours. Risk is at the core.
Posted on 1/23/16 at 8:00 am to Bayou Tiger
quote:
I would like to contemplate but don't understand this part...
quote:
When you take a decision, how do you view time available to you on said decision? ie, no guarantees that this time is yours. Risk is at the core.
Let me clarify - no one is promised tomorrow. So, when you think about a long-term financial decision, how much consideration do you give to the fact that you might not be here for its outcome. Does that in any way impact your decision?
Kinda like a bird in hand vs. 2 in bush...but strictly speaking to time. Do you "risk" time available to you?
That little exponential formula behind every time value calculation totally ignores this risk.
Posted on 1/23/16 at 9:05 am to BayouSizzle
I factor it in greatly.
I choose to do many things out of consideration of time that may or may not be there.
Too many folks get to 67-70 and realize too late that they can no longer travel long distances comfortably. therefore my wife and I are doing all of our international traveling in our 40's and 50's while walking long distances and sitting long periods on planes is still reasonably comfortable.
I choose to do many things out of consideration of time that may or may not be there.
Too many folks get to 67-70 and realize too late that they can no longer travel long distances comfortably. therefore my wife and I are doing all of our international traveling in our 40's and 50's while walking long distances and sitting long periods on planes is still reasonably comfortable.
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