If you want to get the most from your money, you might be tempted to invest time and energy into researching every investment. But the more valuable your time is, the greater importance you might place on convenience. After all, Bill Gates probably doesn’t do his own research whenever he wants to buy a new toaster. This is because the value of his time vastly outstrips the money he might save by shopping around for simple home appliances.
This logic doesn’t just apply to multi-billionaires but to any high-achieving person looking to allocate resources (including time) wisely.
Convenience as a Strategic Asset
You might think of convenience as a luxury to be bought after you’ve earned enough money and proven your worth to your peers. But the contrary is actually true. In many cases, convenience is a means of optimizing your productivity and avoiding a phenomenon known as ‘decision fatigue’.
Decision fatigue is a psychological experience that relates to small choices. Every time we have to make a choice, we deplete a little bit of cognitive resources. You might think of your mounting sense of weariness as you scroll through the viewing options on Netflix. It’s for this reason that candy is placed near the checkouts at your local store; shoppers are more likely to buy on impulse after they’ve made numerous other decisions throughout their shop.
By avoiding small decisions, in other words, you’ll keep your mind sharper – and able to focus on the big decisions.
Outsourcing to Protect Cognitive Energy
If you have the means to outsource everyday tasks, then doing so is often worthwhile, thanks to the cognitive resources it frees up. Think about the mental energy you might expend trying to arrange your day, and thinking about cleaning, cooking, driving, or shopping for groceries. If you’re trying to run a successful multinational business at the same time, then the chances are good that you won’t be able to do it as well as you otherwise would have.
Nowadays, it’s more possible than ever to outsource, thanks to the availability of executive assistants, concierge services, and digital platforms like TaskRabbit, which match local labor with the demand for it. It’s worth thinking also about the availability of new, AI-driven assistants, which might provide benefits even to those further down the socioeconomic ladder.
Designing a Frictionless Lifestyle
A ‘frictionless’ lifestyle is one that seeks to minimize small decisions. Think of a creative professional with access to a vast collection of synthesizers and other musical instruments. The most successful musicians and composers are often those who are able to sit down and start creating without having to boot up a computer, or plug in any cables, or even flip more than one switch.
High performers tend to apply this principle everywhere in their lives. You might think of a direct debit payment that takes money out of your account automatically or a condensed ‘capsule’ wardrobe that reduces choice when it comes to clothing. There’s a good reason that tech entrepreneurs tend to wear the same thing, wherever they go.
Convenience in Travel: Saving Time, Reducing Stress
Of course, one of the biggest sources of stress for many professionals is travel. This goes especially for those who are constantly moving from one part of the world to the next. Cheap air travel is often a false economy, since it means being exhausted at the end of a trip, thanks to a minefield of delays, lines, and layovers. This is where a business jet charter can be a significant asset to high-end professionals.
Smart Tech and Automation
The right technologies can help to buy back valuable minutes throughout the day and provide cognitive freedom. The best examples here are calendar apps, to-do lists, and even generalized assistants that make use of Large Language Models. Voice assistants also tend to eliminate cognitive labor, since speaking a command out loud is less taxing than typing one. If you’re issuing hundreds of commands each day, then the savings can quickly accumulate.
Mental Health Through Convenience
Reducing the mental friction you face can help you to stop burning yourself out. You only have so much emotional energy to spend – and the right lifestyle tweaks will allow you the space to recover.
The ROI of Buying Back Your Time
Whether a new convenience is worth investing in will tend to depend on the rewards you get. Hiring a new assistant might be a big investment, especially if you understand the scarcity of a really good one. What’s worth remembering is that convenience isn’t a luxury but an investment in yourself.
