What is your time worth?

What is your time worth? 

That is the question that started my lunch with a mentor last week. I thought for a second and did some quick math and then pulled $300 an hour number out of the air.  He laughed and gave me these two quotes:

The price of anything is the amount of life you exchange for it.
– Henry David Thoreau

“My favorite things in life don’t cost any money. It’s really clear that the most precious resource we all have is time.”
– Steve Jobs

He went on to explain “If You Can’t Measure It, You Can’t Improve It“ (a running topic in our conversations).  So I sat down this weekend to figure out what my time is worth.

With the help of this life expectancy calculator I found out that I have 47 years of life left.   Using a date duration calculator that is 17,176 days (or 412,244 hours).  That makes every hour 0.0002% of my life. 

So here are some basic break downs:

A 40 hour work week is .008% of my life.
A work year is .416% of my life. 
A 5 day business trip is .024% of my life.
20 more years of work is 8.320% of my life. 

9 hours of sleep is 0.001% of my life.
A year of sleep is 0.655% of my life.
Sleep will take up 30.790% of the rest of my life. 

Watching a season of a TV show would be 0.005% of my life. 
Watching 10 football games a year would 0.006% of my life. 
Hitting the gym 5 hours a week would be 0.047% of my life.
Taking my son to swim lessons would be 0.020% of my life. 

The numbers are interesting but the more important lesson for me is to realize and treat my time like a valuable non-renewable commodity.  I need to give it freely to my family and friends while using it wisely for professional purposes and guarding it from time sinks.

What is your time worth?

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