Indenture: bind (someone) by an indenture as an apprentice or laborer.
Humans most often indenture themselves. They mortgage their time with debt. It is clear that money is due when a debt is taken. What is not so noticeable is that time is indentured when a debt is taken. The automobile dealer advertises the palatable 600 per month payment over the 1200 hours of time that is now indentured to pay for it.
Time is spent, often through debt. There are two rules to rigging the system so that one may stop spending time in favor of using it wisely:
Non-Indentured Debt: Some debts are non-indentured. This means the debt created is paid for by the investment it secures. Hence this is why multi-family real estate investing is so popular. The debt created by the investment creates a simultaneous income that pays the debt. Better yet is when the income exceeds the debt payment so that the additional funds can go towards savings or free up time indentured by other debt.
Income Unpledged: For many, income is a byproduct of time. That is, in order to earn the income, a certain amount of time is pledged to create a stream of pay. Whether it is by the hour or by the transaction, most people pledge time for income. There are two downsides to this. First, there’s a limit. There are only so many hours and so many transactions. Second, it’s time. Time is life. True wealth is the ability to spend time freely. Thus, creating streams of income that do not pledge time is the answer. Investments (dividends, interest, rents), asset sharing systems (ride, car, real estate), and businesses, there are many ways to create income that does not require one to pledge their precious time.
Time: protect it, utilize it, and keep it unencumbered.
"All we have to decide is what to do with the time that is given us.”? J.R.R. Tolkien
- Stacey Alcorn