A time luxury is something which allows you to save time. It is not the mundane brushing your teeth example I previously used to illustrate how seconds add up. It is something that enables you to get back your time. We all have 24 hours, but do you think Taylor Swift is doing the same stuff as you? No, she has loads of time luxuries.
Freedom of Schedule
The first time luxury is having control of your schedule. Ironically, this may not be correlated with wealth. Many CEOs lose control over their schedule as they have many people demanding their time. Imagine your friend won a trip to Fiji for a week, but they tell you it’s happening next week. Could you go? If you have a job it may be tough to get off on such short notice. If you’re retired, run your own business, are a digital nomad maybe you could swing it. Having freedom over your schedule allows you to do more. I went skiing on a Friday when there were fewer people than the weekend. If I went on a Tuesday I’m sure it would’ve been even better. If you have a rigid 9 to 5 job, then regular errands can require using vacation days or finding weekend appointments.
Outsourcing
Going back to Taylor Swift, do you think she personally cleans her homes? No way. She has cleaners to do that. Is she at the Super Bowl waiting in line at concessions for a hot dog? Of course not because she can afford to outsource any task. Driver. Private jet scheduler. Public relations manager. Personal assistant. Lawyer. You name it.
Most of us can’t hire an army of assistants, but we can still outsource. Maybe we pay someone to do our taxes, but there are even smaller ways in which we do. Instead of making a meal we order in. Rather than driving, we call an Uber. I think just about any task now has a marketplace where you can find someone to do it for you.
As your wealth grows, I recommend you begin outsourcing tasks that take lots of your time or are unenjoyable. When I was in college I hired someone to build me an e-commerce website. I probably could have figured it out, but it sure would’ve taken a long time.
We are entering a period where AI will dramatically reduce the cost of outsourcing. Maybe instead of paying a lawyer $5,000 to make a contract it will only cost $500 to have them review what an AI wrote. There are many opportunities, but more on AI in later articles.
Automation and Technology
If you have internet access, you can find answers instantly. What’s the fastest sea animal? Google, ChatGPT, DeepSeek will tell you immediately. What’s the best route to get to the restaurant? The answers are at your fingertips. If my parents wanted to get an answer they’d have to go to the library and find the relevant book. I still remember physical maps in the car to find our way around a new area.
No writing checks or even looking at the bill is needed with autopay. Having a meal subscription removes the burden of making daily meal decisions and shopping for them. There are so many companies out there that want to automate your life:
Soylent wants to replace your meals, Blinkist wants to replace your reading, and Facebook wants to replace your friends.
Having a smart home can automate all your routines. You don’t have to adjust lights, change your thermostat, or find your keys because you have an app with a schedule set up. It saves you time, but have a friend over and they’ll sure be confused how to work anything. Open the microwave with an AirTag you say?
Convenience
Convenience is a huge factor in my life. I would love to spend more time with friends, but many of them live far away. If we lived next door I’d definitely get to play a board game more than once a year. In December, I joined a climbing gym on a two-month promotion. But then a month in I realized that the 12 minute drive each way wasn’t as easy as going to the gym right next to the elementary school I go to drop off my kid. Now I’m a member there, even though it is nowhere near as nice, the time savings is worth it.
I think the ultimate convenience is having things at your property. You don’t have to go to gym if you have a home gym and sauna. Tennis sure is nice to play in your backyard court and your paid hitting partner will come to you. I should start convincing my children to play ping pong so I’ll have some people to play with nearby.
Even things you normally have to go to are available at the right price. Concierge medicine can get you visits at home rather than having to wait in an office with other sick people. Personally, if I had tons of money, I would helicopter everywhere.
Youth
Being young is wonderful. You have health and time, though not much money. When you are young you don’t have as many responsibilities and can get bored. There is so much to do now, I don’t think I could ever get bored. Sadly, youth today is more often getting stolen due to helicopter parenting. Even so, being young means you have the ability to start over, try new paths, and take risks. I’m sure any billionaire over 60 would trade their life for that of someone in their 20s since they have so much more time. They can buy almost anything, but their money is no good to buy time.
Conclusion
Are you short on time? Perhaps you should buy back your time through outsourcing or shuffle things around such that your schedule is more convenient. In fact, you should probably take a step back and reevaluate your priorities and see if you still are living the life you want.