Time worth in $$$

What if you're on something like 250k passive income, requiring a negligible 10 hours/year to maintain.
That's enough to live a comfortable lifestyle and you could simply say that your time is not for sale, or propose some crazy figure like 10k per hour if somebody wants to buy your time.
Or an extreme case would be that you earn 25k/hour based on the above example.

If you don't need to sell your time, it's worth whatever you ask.
If you do still need to sell your time, its only worth what others/the market will pay.

 

Could you do this 10 times per year for a comfortable 30 weeks and make a couple mil/annum ?

 

http://somersoft.com/forums/showthread.php?p=602283&mode=linear#post602283

 

Based on this, my time is worth $121/hour. I wouldn't give up a day off for that.

 

As long as you have the finance for it then yes. You could even do 3 medium size projects as opposed to 10 smaller small ones. Regular income will come from your Project Managers Fee you pay yourself, as you take the role of that consultant.

Roughly speaking 1.2mil of equity will allow you to do say 5 mil worth of projects a years. With a 20% return that's roughly 1 mil, not including your PM salary.

 

thanks for the link.



Totally with you, I never really think about what I am worth in terms of $, I don't think it really matters to me or anyone and wont change my world.
I am probably worth more alive than dead... hehe to my family that is.

Seriously though, I value my time so I am offloading wherever I can, have organised grocery shopping on line, have a cleaner in once per week, hey, my time is valuable to meeee, because it gives me more "me time" to do the things I love doing.

 

+1

 

I think there was a similar thread to this a while ago. I said then something along the lines that I valued my time between $0 per hour and $∞ per hour, depending on the job at hand.

But I think that there's another interesting matrix: What is your hourly rate for investing? Obviously this is hard to define as it can change drastically each year. I'd say that I put in around 15 hours a week and I made maybe $150k in equity (excluding PPOR) in the past 12 months, plus a positive cashflow of $10k. So that gives me an hourly rate of $205 for investing.
If I get close to it in the next 12 months, I'll be very happy!

 

I think what your time is worth maynot be what you think you could be paid for. But i was in a stint for 8 months 2013/2014(contractor) whereby a local gov were paying the contracting company i was attached torates of $1000 per hour in weekend rates (which is unheard of in the industry i am in). And the company that were doing the servicing of the contract were racking it in and scheduling weekend work every week. When there was requirements for weekend work and volunteers were asked in the team to work. everyone put up their hand. I know it would never last forever as it ended early 2014.

 

Happened in Syd as well, back in 2006. Govt was paying contractors mega $$$$ to gut and refit ex houso communities. (after they booted the tenants) From memory, there were about 7 lots, they were in blocks of 8 - 9 in each, across various outer towns, Camden, Bowral etc.

 

I hate people who think that what ever they bill themselves out at is what they are worth any other time of day.

frankly I find its a narrow minded and self entitled mindset,

if they are worth $500 per hour, then why not hire someone to put your dishes away, scratch your bum, put a new roll of toilet paper,

what about time with kids, why dont they hire someone to bounce their baby on their knees since its not going to generate $500

there is more to life then a dollar per hour value,

eg my friend who says he wants to learn about renos, and doing it himself, but cant get over the fact that he is going to save himself $5k by doing it himself with other pros, but thinks he is sacrificing $7k from his salary by taking time off

I have no time for people like that

note: and dont get me started on PAYG employees in cushy jobs who want to start/buy their own business but the first thing they do is start comparing how much per hour they currently get paid to how much the hourly rate becomes with their business

 

yeah ours was a service contracts (as in providing IT related services) as opposed to refits ( and it was over 1.5 years or something)
i don't value myself for any dollar but if they were willing to throw cash like that - i would take it any day.

 

m

 

liked this.

my time in $ value is something I never think about, as I am not selling my time.

Finding ways to give me more time to enjoy the things I want to do today is what counts for me. As mentioned in your thread ..you can't buy time.

For example, I hate grocery shopping, I now do this on line, delivered to my door, time saved = 2 hours... Amen

Still working on other ways to save time

mtr

 

To save time we:
Have cleaners, Automated shopping online, food catered and delivered (reduces cooking mostly), family friend son comes over to wash our car for small fee, once every two weeks we make a list of things needed and pay a service for them to be bought and delivered.

We really value our time immensely and are happy to delegate as much as possible out so we can focus on whats important and have more time with each other.