High ROI is something that you always strive for when you invest your money but have you ever considered that there is another important resource that you invest along with money. That is TIME.
Does the High ROI (Return on Investments) you are generating from your money also generate high ROTI (Return on Time Invested)? Or for ROI you are compromising with ROTI
Time is more limitedly available than Money.
You may generate more money by investing your money, but can you generate more time by investing your time? No, Right?
However, you can always improve your quality of life with whatever time you have, if you invest it wisely, by having more of FREE time to use it on the things you value most.
Like money you use time in 3 ways:
You spend it to gain some experience. Like on vacations, watching movies, Reading, Playing, enjoying with family etc. The experience gives you relaxation, enjoyment, peace. But still, when you spend it you don’t expect to get returns as in more of time.
You spend it on learning, education so to earn more money which you may invest/spend in future to buy more of time.
You Kill / Waste your time. By spending it somewhere which is of no use to you, or waste it in Chit Chat, on social media, WhatsApp, Watching TV or many other things which may give a satisfying feeling to start with, but over a period of time you will see it as a completely non-productive activity, where you have wasted a considerable amount of time and thus life. And did not get anything productive in return.
The other way you use time is by Investing it. You do this to generate more FREE time for you, which you may use to spend more wisely in the future.
You invest time when you use it to improve your health. Walking, Exercising, Meditating etc. comes under investing time, as this may add some extra life in your years and you will live healthier and productive.
You invest time when you train and guide your subordinates and juniors in your office, so the work can be delegated to them in future and you can be FREE for other important things. (Also Read: Practice Pause for Happy and Prosperous Life)
Delegating to Juniors or Outsourcing to the other professionals is one and the same thing. Its just in the latter you don’t have to invest your time, but you buy time of other professional, to keep yourself FREE for the doing things that you value and are important.
ROTI is about Return you have generated in the form of time, by investing time.
When you invest money yourself, you are also putting your time in Planning, implementing, Monitoring your investments. Thus, you are spending time. But when you outsource it and take help of professionals, you buy their expertise to keep yourself FREE for other important things.
See, Ultimately it’s about Spending only. You want to have more money so you can spend it on your future requirements, your goals, your experiences etc. But More Money is of no use if you do not have more time.
So, along with ROI, you should also focus on ROTI.
Always ask – Is that worth spending time on or should I Outsource the things to Professionals and invest time on health or spend it on other experiences.
Time wastage is more real than money wastage. Spending, Investing or Killing – Choice is yours
Unlike ROI, ROTI cannot be measured in Numbers in most of the cases. But it will be reflected in your way of living and working.
Use your time wisely and improve your ROTI.
Manikaran Singal is the founder and Chief financial planner at Good Moneying Financial Solutions. He is a CERTIFIED FINANCIAL PLANNER CM and SEBI registered Investment adviser (Regd no. INA 100001620). He’s having 20+ years of experience in financial services space.
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