Steve Pavlina consistently has some thought-provoking stuff on the subject of personal development. Today Steve has an interesting post on asset allocation. Aside from the standard financial planning methods, he relates how to apply the concept to different areas of your life:
After the financial planning course I realized that the strategy of asset allocation can be applied to other areas of life, such as work, relationships, and health.
Consider how you allocate your time. You can think of your time as consisting of several buckets, each having a different risk/reward ratio. If you have a full-time job that pays a flat salary, then most of your time is allocated to the security bucket, so you might want to shift some of that time to the entrepreneurial bucket to participate in the game for much greater gains.
One of the key factors to success as a home-based business owner is balance. Learning to allocate your time and energy in the most efficient and beneficial way is essential to running a thriving business. The concept of asset allocation is a great way to develop a framework for balancing the different areas of your life.