Time worth in $$$

I currently earn about $24 per hour in my day job.

I estimate that my unrealised earnings from capital growth over the last three years amount to $67 per hour. However, a person of my calibre should be worth double that but I am open to offers.

 

I was offered a job last week to replace someone earning more than 10x my salary.

Whilst this is an OBSCENE amount of money, I declined. It's not an area I'm interested in, and would cost me my enjoyment, my pride and my reputation. I try not to think about the gains (all monetary) but it really was an easy decision.

In the area I am interested in, working my free time would cost 10x my paid rate.

 

Billy Joe could earn a good wage getting $100/hr which helps service $1mil ($500/hr) of assets, he could calculate that his time Is worth $600/hr... but if you wanted to then minus billy joes debt of say $800k ($400/hr) he's down to $600-$400 = $200/hr in his pocket.

So is it all just number play and some good old fashioned my trombone is bigger than your trombone

 

Loving your principle but also I have to reluctantly admit that I am so money hungry that personally I could not say no, if someone offers me 10x my current salary. It's sooooo much money for me. One year in the job like that and I can retire as a rich women (feeling like it at least)

 

Yep. In one year, the net income would pay off my entire debt. But I'd never be able to come back from it if things went bad, and it's less secure than what I do now.

 

Me thinking hitman. ....

 

Chemistry teacher

 

Google always has an answer

What’s Your Time Worth?

 

Cook

 

Gee you mods do it tough. going back to no frills caviar must be tough 

 

Depends on what Im being (asked) paid to do. Can range from $250 p/h for a simple analysis, to 1% of project cost. When I first started doing commercial finance, my remuneration was $260k for 8 day's work. That was when Sydney was in a building boom and before World Square went bum-up. There's plenty of op out there, it's not hard to find it.

 

That is so true BS. Typical example of someone who earns a squillion but has a high expenditure lifestyle & has their @r$3 hanging out of their trousers.

 

Sorry to stray from the empirical and quantitative theme of the thread, but time IMO is priceless. There isn't an endless supply.

We don't have all the time in the world because life is uncertain. Tomorrow isn't a promise for anyone.

Today is the youngest we will ever be for the rest of our lives..................

Try not to focus too much on what time is worth or the paradigm of selling time for currency is likely to persist. At the end of the day it depends on how much time is exchanged for the return. Working longer in a job (paid for by the hour) can increase income, but isn't very efficient or leveraged.

As others including yourself MsAli have mentioned and alluded to by the Jim Rohn video, add value. This leverages your (and other people's) time far more optimally and efficiently. Whilst property investing uses leverage, the biggest value add is usually likely to occur through a business.

 

As a recent ex-student I have spend years lapping up any Sunday work that has been available! However, the value of my time has certainly increased since I started working full time at my 'day job' which pays well.. My second job (supermarket gig) asked me to work on Sunday night, for the first time in maybe two years... I found myself trying to negotiate the 5 hour request down to 4 hours! In the end I agreed to do the five to keep them happy!

In my defence a Sunday supermarket is basically the normal pay rate at my day job!

It is just funny that it was not that long ago when I would have been frothing at the bit for Sunday work!

 

Always enjoy your posts, Player. If I remember correctly, there was a thread on SS (I think) titled 'time versus money' relating to investment styles and throwing the job in as soon as possible.

 

Monday to Friday my time is worth whatever my employer/market rate pays me. I'd even be happy to work Saturday's for the same rate. However, I don't work on Sundays and would never work them because it's my family/relaxation day.

I've got a fairly cushy office job so I don't really have any desire to retire. On the flip side because of the cushy conditions the pay isn't the best but I've never been a consumerist so it's not like I'm struggling to get by. I think that's the case for most people but they get envious when they see or hear of others making more dosh so they start working harder and spending more of their time working. The typical case is business owners. I've met a lot of people who believe family is the most important thing to them so they get into business to provide for their family. Yet they end up working 7 days a week 90+ hours and their whole work resolves around the business. So at best it draws them away from their family and at worst it destroys the family. Not saying that's right or wrong and obviously we need businesses around the clock so respect to them, but it's not something I desire.

 

A friend and I were discussing development business/hourly rate like this. Roughly, on small project returning 20%, or 200k, actual hours spent:

1. Site finding = 40 hours
2. All permits = 15 hours
3. Construction stage = 40 hours
4. Miscellaneous = 40 hours

(all other time put in the project is leveraged from everyone else, one of the beaties of this business)

Total time spent = 135 hours (3 and a bit weeks of work)
Gross profit = $1,481/hour

Rough numbers, but quite accurate a scenario imo.

 

Here it is kemosabe..........

http://somersoft.com/forums/showthr...linear&highlight=Time+versus+money#post602283


Excuse the red search terms. I'm not sure how to disable the coloured text

 

SUCH a good post @Player - I always enjoyed @Rockstar 's thoughts there too. Time is our only truly finite resource, but when the spiritual is considered its not even quite that simple. Thanks again.