• What’s Your Time Worth in the Year Ahead? And Beyond?

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    Surge Summary: The year is still new, so now is as good a time as any to re-evaluate the worth of one’s time — and take steps to assure that it is not being wasted; in 2021 or any year going forward.

    by William Pauwels

    Now that you’ve had three weeks to think about it, I hope you have establish your resolutions for this New Year.  It’s a good idea to write your goals down and post them on your morning-mirror . . . on your desk . . . and on your day planner.

    Another good action – and I bet you don’t do it – is to identify the value of one hour of your time.  For example, suppose your projected regular income this year will be $80,000.  Divided that number by the number of hours you work to establish the direct value of your working time.  If you work 40 hours a week for 50 weeks, divide $80,000 by 2000 hours to establish $40 an hour as the direct value of your working time.

    On the other hand, if you desire to earn $100,000 this year, you will have to earn $50 an hour or work 2500 hours this year at $40 per hour.

    In other words, know and respect the value of your time.  If you take a one-hour lunch break every day, be aware of the time-cost of that luncheon, $10,000 per year!  If you work eight hours on Saturday, be aware of the value of that time.  Are you getting paid for it?  If not, consider a part-time job if necessary to achieve your income goal.

    My father, a Flemish immigrant, worked 10 hours a day and eight hours on Saturday, all of his life through the age of 70.  Our family prospered as a result.  I have emulated this practice all my life.

    Are you being paid for the time you are expending?  Taking time off has a cost — a big cost — as you consume your most valuable asset — the value of your time.  A one-hour nap may cost you $40.  Saturdays off may cost you $320 or $16,000 a year!  Is it worth it?

    Many people will reject this kind of analysis and planning – but it’s a fact of life, unpleasant as it may seem. You cannot escape it.

    And one further point.  It’s important to secure a job that you enjoy or at least do not dislike.  An attitude of gratitude for your job is a habit that will make your time commitment tolerable.

    The views here are those of the author and not necessarily Daily Surge

    Image:  CC0 Public Domain; https://pxhere.com/en/photo/978001

    William A. Pauwels, Sr. was born in Jackson Michigan to a Belgian, immigrant, entrepreneurial family. Bill Pauwels is a graduate of the University of Notre Dame and served in executive and/or leadership positions at Thomson Industries, Inc., Dow Corning, Loctite and Sherwin-Williams. He is currently CIO of Pauwels Private Investment Practice. He’s been commenting on matters political/economic/philosophical since 1980.


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