I have always liked the idea as viewing your time similar to currency. You get to decide how you spend it and what types if investments you make. Sadly, just like with our money, many of us make bad or misinformed decisions. Time is finite. There will be a time when it grows short and then disappears. Our children will only live with us a relatively brief time before they grow up and move away to begin their own lives. People we care about will run out of time and all that will remain will be the memories we made with them while they were still here. Our career will follow a natural arc and eventually our lives will be less about what we do for a living (despite our past accomplishments) and we will need to redefine ourselves. Knowing this, what can and should we do differently. I believe it all starts with priorities.
There is nothing that can be changed about your actions from 5 minutes ago, let alone last week, month or year. What is done is done. What’s important is that you gain wisdom from these past experiences so that you can perform better in the present and be positioned more effectively for the future. It’s also important there is some sense of balance between the present and future.