How do we explain Take the Long View? Watch this 1-minute video for the answer.

On July 19, I traveled to Cashiers, North Carolina, a spectacularly beautiful community nestled in the Nantahala National Forest. Cashiers is home to The Chattooga Club: a special venue for intimate family retreats. Here, I spoke to families about the benefits of our evidence-based investing approach and the power of Taking the Long View—a concept that, if you’re reading this, you’re surely familiar with.

But right now, I want to revisit a specific facet of my talk that many of us have a tendency to overlook: time.

When most people think of wealth, they think of money—understandably so. But I’d like to expand the definition of wealth to encompass not just the amount of money in one’s portfolio, but how much time they have at their disposal. In fact, it’s quite possible that you’re a “time billionaire.” Just like people are billionaires in terms of dollars, if you have more than a billion seconds left in your life, you’re a time billionaire (concept recently discussed on Tim Ferriss podcast with Graham Duncan).

Let’s break this down.

A million seconds is 11 days. A billion seconds is just over 31 years. With an average life expectancy of about 80 years, anyone 50 years old or younger is a time billionaire.

Inspiring as this analogy sounds, some time billionaires don’t take advantage of their wealth. They devalue their precious seconds with weak relationships, excessive work, and mindless entertainment. Sometimes a traumatic event can jolt us out of our negligence, but how can we help ourselves reframe or revalue our time?

To put the advantage of being a time billionaire in perspective, consider this: what if you were Rubert Murdoch, with an estimated fortune of 22 billion and you are 88 years old? How much do you think you would pay to relive the health and energy that defined your 30s? Now, consider what kind of price tag a 30-year-old would place on the next ten years of his life. Chances are, there’d be an enormous discrepancy because the 30-year-old doesn’t realize just how precious his time is, but he covets the financial freedom of Mr. Murdoch.

During joyful experiences (or any experience for that matter), try to pause and imagine yourself in the future asking: How much would I pay to be in this moment again? Part of our mission at Hill Investment Group is to guide people towards financial freedom. But what’s the point of financial freedom if we can’t manage our time effectively enough to enjoy that freedom?

Whether you’re a time billionaire or a time millionaire, invest wisely—it’s your most valuable asset. Standing in the mountains of North Carolina reminded me to do the same.

On June 6, 2005, Rick Hill and I inked a deal that changed the trajectory of our lives and eventually hundreds of others.

Over the course of a year, Rick and I met every Wednesday night and Saturday morning to discuss our plan to build a firm that was equal parts high touch and high performance. We called it our “island of idealism.” It may not have been the easiest path to bring that idea to fruition, but as I write this passage on our 14-year-old “island of idealism” at 7701 Forsyth Blvd., I can tell you it was worth every step.

Birthday celebrations often entail trips down memory lane—understandably so. It’s pleasant and comforting to reminisce about how much you’ve grown and achieved. But this year, I want to acknowledge Hill Investment Group’s birthday with a different twist: by looking forward instead of backward.

There’s new energy surging through our firm these days, due mainly to the excitement surrounding our group’s future. Our team, which was recently recognized by the St. Louis Business Journal as one of the best places to work, is growing stronger each day. Hillfolio, our initiative to deliver a better investing experience to a wider audience, is building impressive momentum. And most recently, the launch of our podcast* has given us a new opportunity to spread the word about the value of Taking the Long View.

Some subscribers might know about my reputation as a “relentless agitator” (or a relentless improver). When I was a kid, my mom would challenge me to go 24 hours without suggesting how we could do something better. I never made it longer than five minutes. Fast forward 30+ years and my mentality hasn’t changed a bit. So, if you’re wondering why I’m celebrating HIG’s birthday by looking ahead to 2020, now you know.

Don’t get me wrong—there’s a time and a place to pop the champagne, tell stories, and evaluate the past, but that isn’t the phase we are in today. We are working on the next chapter and how we will serve clients better. We are a competitive lot, which is why Hill Investment Group will never become complacent. We thank our clients, friends and centers of influence who follow this newsletter, for your continued support. And the only birthday present we want from you is your continued trust – because without that we wouldn’t have made it this far.

*Episode 3 features a conversation between Rick and me. Check it out by subscribing here.