How to calc what your time is worth when FiRED?

[FIREin2018]

i used to make 6 figures.
so lets say $50/hr.

Now that im FiRED, how to calc what my time is worth to motivate me to do stuff instead of randomly reading forums/facebook repeatedly?

[dragoncar]

If I paid you $100 to use the Internet for one less hour tomorrow would you take it?

[Linea_Norway]

i used to make 6 figures.
so lets say $50/hr.

Now that im FiRED, how to calc what my time is worth to motivate me to do stuff instead of randomly reading forums/facebook repeatedly?

If you don't need the money anymore (because you are FI), then I guess it's all up to how interesting the job would be. Would you rather make money you don't need doing job x, instead of boring yourself on the internet? If you have nothing interesting to do during your FIRE, then maybe an interesting job would be a good idea, almost regardless of what it would pay. But you probably wouldn't bother to accept some high stress job no matter how well it would pay.

[Moustachienne]

This is a really good question because it gets at the hard truth that money is a great motivator for many reasons; fear of not having enough, a way of keeping "score", a way of quantifying our "worth", etc.

Once we have decided we have enough money and are FIRE, what then?  Time could be a motivating measuring stick but even though we know rationally that our days are numbered, most of us can't live with the knowledge on a daily basis. Memento mori is hard!  And then in FIRE "free" time has also increased so motivating deadline urgency is also decreased.

What to do, what to do?  Everyone needs to find their own answer, and it will change over time.  For me I work on big themes rather than specific goals, bolstered by healthy routines and habits.  Nothing too granular or oppressive.  In fact, I'm trying very hard to quantify much less in all areas and just go with a flow in the general direction I've chosen. 

All this to say that you might benefit from some enthusiasms or interests that demand your time and attention and make the interweb surfing less compelling, that is, time spent on FB would feel less worthwhile than something else you've decided is a more enjoyable use of your time.

Or you can take a page from time manager Laura Vanderkam and calculate how many more hours you can expect to live based on the Center for Disease Control's Life Expectancy Tables. Memento mori indeed! (from Off the Clock, pages 10-11)

Whew! I better get off this Forum and on to something else I've been wanting to do.

Good luck!

[wageslave23]

I think you should be looking at this as what are you giving up by surfing the internet?  Is it a walk in the park?  Is it reading a good book?  Money is just a means to facilitate trade.  What ever you don't have time for because of Facebook is the cost of using Facebook.

[Abe Froman]

Similarly - this article below points out a few gems we should all consider.

https://waitbutwhy.com/2015/12/the-tail-end.html

[Cranky]

As a retired person, my time isn't worth any amount of dollars. It's whatever percentage is left to me of my hours of life. How do I want to spend them? Somedays, it's puttering around on the internet. Some days, it's not.

If you can't think of anything better to do, that's worth exploring.

[cangelosibrown]

I've never understood valuing time. I have so much less energy than I have time. I don't feel bad wasting time on the internet, to the extent that I'm using it as a way to conserve energy and relax. Just don't spend time on it that could be productive.and don't make it a habit to waste too much time and lower your capacity for being productive.

[ROF Expat]

If defining your time in terms of money is what motivates you, I suppose your hourly rate is whatever you could earn if you go back to work.  It seems to me that one of the points to being FiRE is the realization that you no longer have to define your time in terms of money.  The value of things is usually relative --a glass of water is worth nothing to me while I am drinking a beer, but might be worth a fortune if I were dying of thirst in the desert.  Before FiRE, I could put an exact price on the time I missed with my family.  Now that I'm FiRE, it would cost a lot more than it did when I needed the money. 

[NorthernBlitz]

If you're fired, you've essentially made the choice that time is more precious to you than the additional money you'd earn from working.

In that case, I'd argue that you think you're time is priceless.

[CptCool]

Similarly - this article below points out a few gems we should all consider.

https://waitbutwhy.com/2015/12/the-tail-end.html

I love waitbutwhy, but man post gives me existential anxiety. It's tough to see things like that visualized, but really helps put things in perspective

[wageslave23]

Similarly - this article below points out a few gems we should all consider.

https://waitbutwhy.com/2015/12/the-tail-end.html

Cool article!  Thanks!

[Linea_Norway]

I've never understood valuing time. I have so much less energy than I have time. I don't feel bad wasting time on the internet, to the extent that I'm using it as a way to conserve energy and relax. Just don't spend time on it that could be productive.and don't make it a habit to waste too much time and lower your capacity for being productive.

I have a sidegig that I did for 10 x 2 hours last year, based on that I thought I got 25$ per hour. But it turned out to be 25$ per 2 hours. And even though I sort of enjoy the idea of my hobby based sidegig, it is those 2 hours, plus getting hime early from work, plus organizing dinner around it, a bit of a hassle on total. So recently I sent them a mail to ask if they can double the price per hour. That would motivate me a little more to do the almost voluntary (online) work in the evenings. I also have a similar hobby sidegig that is not online, but in person, on Sunday afternoon. There I get paid 75$ for 2 hours plus some travel expenses. A much better deal. And also enjoyable.