When I was about 30 I was living the good life: Partying, hiking, camping, skiing, and sometimes even working.
But I knew that I had to change; I couldn’t be doing the things I wanted to do when I was 70 if I had no money.
So now I’m close to 70 (I won’t tell you which side of 70). How did I do? Very well, thank you!
As I work with clients I wonder why so few are following in my path to achieve financial security. And I have found no words to persuade them that maybe they should be doing a little more to find that financial security and peace of mind.
Then read an article that gave me the framework to understand what I was experiencing. The article explored the theory of time perception, which can also be called time preference, time orientation, or even time affection.
In short, some people live in the future or in some real way have a connection and bond to their future selves. Some (most in my experience) live in the present with little or no connection or feeling for a future self. Some even live in the past, whether tragic or glorious.
I’ve always had a strong future time perception. My future self was at least as important to me as my current self. (BTW my current and future selves seem to have merged, but I’ll leave that discussion for a future blog.)
Why is this important? When I work with tax clients who have a present time perception, what I can do for them is limited. It’s important that I know it is limited because they don’t react well when I push too hard to explain how they can use the tax laws and the power of compounding to build wealth and future income for their future selves.
But if I am working with clients who have a future time perception, who truly care about their future selves, they will be open to what I say and together we will accomplish great things. They do not push back, but instead welcome my suggestions and ask my help in implementing my ideas.
If you have a future time perception, let’s talk. And then let’s get to work looking out for your future selves.