With a 7 life path (calculated using the birth date), the life you live tends to occasionally have events and situations that require looking inward for answers.

The essence of the number 7 is spiritual, wise, introspective, analytical, and wise. With the number 7 as your life path, you're likely to be prompted to avail yourself of those aspects to live those events and to resolve those situations.

Seeing the clock numbers as you do is one of those situations.

Noticing that the numbers vary depending on your confidence that you're going the right way is an inspiring perception and conclusion. Well done.

As to how 4:06 relates, that time and the time containing the digits 1, 2, 3, and 4 all reduce to the same number. Examples:

1+2+3+4=10, 1+0=1
2+1+4+3=10, 1+0=1
  4+0+6=10, 1+0=1

As you can see from the above examples, 1234 represents a circle – going from 1 to 4 and back to 1.

A circle can have any meaning assigned to it. Generally, the meaning includes the idea of infinity and/or of openness or acceptance.

The number 406, while it doesn't represent a circle, resonates with the number 1 like 1234 does. 406 has a 0, representing a circle, as the middle digit. The first digit of a multi-digit number sometimes has special significance. The digit 4, represents method and a foundation upon which other things can be built.

Seeing 4:06 so often may be a coincidence without additional meaning, the frequency occurring because you have a question about it. Alternatively, it may be a reminder of what 1234 represents or it may represent a foundation upon which 1234 can be stable.

See the repetitively seeing related numbers article for more information.

Perhaps the above information and the article are sufficient for you to come to your own conclusions.

I wish you the best.