Philosophy
Self-improvement
Finance
Personal Development
Happiness
Personal Finance
Freedom
Money
Productivity
Time Management
They say time is money.
But how much is your time worth?
A thread with thoughts about:
-time
-money
-happiness
-freedom
But how much is your time worth?
A thread with thoughts about:
-time
-money
-happiness
-freedom
Everyone has 24 hours per day. Since everyone is having the same amount of time, it's a fair resource.
The difference lies in how people use their time.
Why is it so important to find out the value of your time?
Because if you know what your time is worth, then you can...
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The difference lies in how people use their time.
Why is it so important to find out the value of your time?
Because if you know what your time is worth, then you can...
/1
take smart and, hopefully, good decisions that improve your life.
Earlier on I had a relatively laid-back relationship to time, but the year I became 30 years old, that's when I started to think about how "little" time I really had left.
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Earlier on I had a relatively laid-back relationship to time, but the year I became 30 years old, that's when I started to think about how "little" time I really had left.
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Every vertical line represents 1 year.
Every box is equal to 1 week.
I'm 34 now, so if I make it to 80, I'll have 46 years (2,392 weeks left).
Pretty depressing, right?
When I realized this I knew I had to change something.
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Every box is equal to 1 week.
I'm 34 now, so if I make it to 80, I'll have 46 years (2,392 weeks left).
Pretty depressing, right?
When I realized this I knew I had to change something.
/3
One day in 2018 when I was in my 9-5 cubicle, I thought to myself while I stared out of the window:
How could I continue waking up every morning and be totally unexcited about everything I was going to do day after day?
This led me to Google:
βHow to quit my job foreverβ
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How could I continue waking up every morning and be totally unexcited about everything I was going to do day after day?
This led me to Google:
βHow to quit my job foreverβ
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I found the FIRE movement (a group of people who shared their journey online of what they called Financial Independence Retirement Early aka. FIRE).
What fascinated me about FIRE was that here there was a group of people who all wanted to save up enough money so that...
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What fascinated me about FIRE was that here there was a group of people who all wanted to save up enough money so that...
/5
they didn't have to work their boring office jobs.
It was like finding my life purpose.
Originally I made a goal about retiring before I was 40 years old, but a combination of luck, grit, spending too much time in rabbit holes on the Internet, and working hard made me
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It was like finding my life purpose.
Originally I made a goal about retiring before I was 40 years old, but a combination of luck, grit, spending too much time in rabbit holes on the Internet, and working hard made me
/6
being able to walk away from the rat race at 33 years old.
Now I'm at that point again where I have to set some new goals for myself.
The first priority is health.
I'm not going to lie, the last couple of years have been draining in terms of always being "on" in...
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Now I'm at that point again where I have to set some new goals for myself.
The first priority is health.
I'm not going to lie, the last couple of years have been draining in terms of always being "on" in...
/7
the markets 24/7.
Crypto never sleeps.
And that leads us to the relationship with money, time, and health.
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Crypto never sleeps.
And that leads us to the relationship with money, time, and health.
/8
When you're young, you have good health and lots of time.
When you're an adult you have money and health, but less time.
And when you're old, you have everything except for time
I realized I didn't want to trade that much time for money anymore
I only have 46 years left
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When you're an adult you have money and health, but less time.
And when you're old, you have everything except for time
I realized I didn't want to trade that much time for money anymore
I only have 46 years left
/9
It's not necessarily about who has the fattest wallet
Buffett has over $100B.
But he's 91 years old.
Would you switch places with him for his $100B?
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Buffett has over $100B.
But he's 91 years old.
Would you switch places with him for his $100B?
/10
In the US you get an average of 2-3 weeks of vacation every year.
The western world teaches us that more is good.
So we end up chasing more. Bigger houses, several cars, more things. Nothing wrong with that.
But unless you're wealthy, this has a price on your time.
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The western world teaches us that more is good.
So we end up chasing more. Bigger houses, several cars, more things. Nothing wrong with that.
But unless you're wealthy, this has a price on your time.
/11
That's why I advocate for others to find out how much money is enough and to aim for that.
You don't have to quit your job, but money gives you opportunities.
It allows you to switch careers, take a sabbatical, or take care of your father if he gets sick.
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You don't have to quit your job, but money gives you opportunities.
It allows you to switch careers, take a sabbatical, or take care of your father if he gets sick.
/12
Ask yourself what's the most important thing for you?
Time, money, or health?
Unless you're already financially free, you can only choose two of them.
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Time, money, or health?
Unless you're already financially free, you can only choose two of them.
/13
If you find yourself unhappy, not having the time or money to live the life you desire, start asking yourself, why?
What are you missing in your life?
Iβll bet youβre spending too much time working, and not enough time on the things you love.
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What are you missing in your life?
Iβll bet youβre spending too much time working, and not enough time on the things you love.
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How much is your time worth?
Everyone has an implicit value for their time, though they may not think in those terms.
Even a billionaire will volunteer to do an extra hour of work if he or she is offered enough money in return (say, $10 million).
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Everyone has an implicit value for their time, though they may not think in those terms.
Even a billionaire will volunteer to do an extra hour of work if he or she is offered enough money in return (say, $10 million).
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Likewise, even a desperately poor person will refuse an extra hour of work if the compensation is too small (say, $1).
The value of time can also change dramatically depending on how much of it you have available.
You will likely value your free time much more...
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The value of time can also change dramatically depending on how much of it you have available.
You will likely value your free time much more...
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highly if you're very busy than if your schedule is completely clear.
It's extremely useful to know how you value your own time. If you can figure out how much money each extra hour is worth to you, it'll help you make smarter decisions about many subjects, including:
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It's extremely useful to know how you value your own time. If you can figure out how much money each extra hour is worth to you, it'll help you make smarter decisions about many subjects, including:
/17
-Whether to take on additional part-time work and at what rate
-Whether you should try to scale down your hours at your current job
-How long you should wait in line for a free item
-Whether taking a cab is worth the extra cost
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-Whether you should try to scale down your hours at your current job
-How long you should wait in line for a free item
-Whether taking a cab is worth the extra cost
/18
Money is something you trade your life energy for.
You pay for money with your time.
Use this calculator to see your real hourly rate:
yourmoneyoryourlife.com
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You pay for money with your time.
Use this calculator to see your real hourly rate:
yourmoneyoryourlife.com
/19
This thread is getting long, but I just wanted to share a very good thread about the shortness of life.
If you haven't read it, check out this gem by @punk6529:
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If you haven't read it, check out this gem by @punk6529:
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Time is finite, while money is infinite.
Win the money game to buy your time back.
Memento Mori.
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Win the money game to buy your time back.
Memento Mori.
/21
That was it!
I also have a free DeFi/crypto newsletter which I send out once per week.
Subscribe for free here:
getrevue.co
/22
I also have a free DeFi/crypto newsletter which I send out once per week.
Subscribe for free here:
getrevue.co
/22
I would love it if you could:
-Quote retweet the 1st tweet below and let me know what you think
Also, make sure you follow me @Route2FI so you don't miss my future threads.
/23
-Quote retweet the 1st tweet below and let me know what you think
Also, make sure you follow me @Route2FI so you don't miss my future threads.
/23
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