We only have a limited time on this earth - and a lot of it is taken by frivolous activities.
How much time do you think the average millennial spends on their phones ... or a baby-boomer sits in front of the TV?
The answer is a lot.
This chart based on data from the Bureau of Labor Statistics puts it in perspective.
via dailyinfographic
9 years in front of entertainment devices - another 10.5 years spent working. You get the idea.
If you have goals you want to accomplish, aspirational travel and lifestyle plans - this really puts the idea of finding and living your passion in perspective.
Here's another representation of the same data, using jelly beans. I think it's pretty powerful and worth watching.
Ze Frank (via YouTube)
In my TEDx talk, I talk about the Time Value of Life ...
In finance, the "time value of money" refers to the principle that the purchasing power of money can vary over time (meaning, money today might have a different purchasing power than money later). In part, this is because the value of money at a future point in time might be calculated by accounting for other variables (like interest earned, or inflation accrued, etc.).
A similar calculation applies to life ... or living.
Live Like You Only Have a Year Left.
During the last part of my Dad's life, I think he would have done almost anything for a little more time.
Things that used to be unimportant, or even mildly irritating, took on increased importance. For example, a dinner together became almost a sacred event; a kiss goodnight was truly heart-felt; and saying good-bye meant something ... because it could be the last time.
Nevertheless, as a result of that focus, he took more life out of that time.
Shouldn't we do the same thing? Think about it ... We are never going to be younger than we are, right now. We are never going to have more time to fix a big mistake. Isn't it likely that the time value of your life, is worth maximizing?
If you realize that the time you have now is worth more - what can you do differently to get the most out of it?
So, if an average person only gets 2,740 days to do with what they want, those days are precious.
Based on who's reading this, you may have half that time (or a fourth).
What are you going to focus on? Making the most money? Helping the most people? Spending the most time with your family? Relaxing?
There's never a better time than now, to live a life worth living ... and only you can decide what that means!
I'd love to hear what you choose.
Will Robots Take Your Job? How Soon?
I often talk about how robots are changing the workplace (For example here, and here) because it's a topic that hits close to home.
I remember, back in the late 90's, starting to trade based on my knowledge and my insights (and feeling like I had an edge). By 2003, most of my trading was automated. But, I wouldn't have believed how much of today's daily volume is now traded by computers.
Likewise, I remember the tech bubble and recognizing that more businesses were going online. But, I wouldn't have believed what the Internet did to retail, music, TV, banking (face it, to Business and the World in general).
Could it take your job as well?
Most don't think so.
via Pew Research
Interesting.
People are not good at recognizing their biases.
For example, take "Fake News" or the recent claims from Trump that Obama wiretapped him.
It turns out, people consistently underestimate their susceptibility to fake news - especially if the story favors their preferred candidate.
In the case of wiretapping - despite no credible evidence of wiretapping and the heads of the FBI and NSA categorically denying that Obama ordered wiretapping of Trump Tower - 47% of American and 74% of Republicans believe it's likely that Trump was wiretapped during the campaign
Regardless of the veracity of the statement, it's evidence that we have a tendency to think emotionally, and aren't always great at rationally analyzing facts.
As proof that it's everyone, the week after the election, many Democrats believed the economy had already worsened.
Roddy Roediger is a leading expert in learning and memory, and he says there are 3 key principles that make false information believable:
Good thing we're not biased ... Right?
Posted at 04:59 PM in Business, Current Affairs, Ideas, Market Commentary, Science, Trading, Trading Tools, Web/Tech | Permalink | Comments (0)
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