Are You Earning a Negative 60% Return on Your Time?

[MJ DeMarco]

The worst return on your life is expected. Follow the guru's plan for wealth and I can guarantee you this: You will be bankrupt in TIME.


Read the full article below:
http://www.fastlaneentrepreneurs.com/2010/thank-god-its-friday/

 

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[CactusWren]

re: Negative 60% ROI ...The Introspection of "Friday"

Nicely done!

 

[AlwaysCurious]

Re: Negative 60% ROI ...The Introspection of "Friday"

Wow, that hit me real hard. Thanks.

 

[razda]

Re: Negative 60% ROI ...The Introspection of "Friday"

MJ, you keep pulling these profound thoughts out of the air. How do you do it? I sit here and try to think of something that sounds intelligent, then when it gets put on paper it just doesn't sound right. Thanks MJ and keep those thoughts coming! :yourock:

 

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[hawaiiloans]

Re: Negative 60% ROI ...The Introspection of "Friday"

Awesome story. Also the fact that people tend to talk about negatives more then positives, like saying I don't want to go back to work on Monday, on Friday night.

 

[MJ DeMarco]

Re: Negative 60% ROI ...The Introspection of "Friday"

IT'S FRIDAY!!!! SO that means, this thread gets a bump!!!!

 

[LightHouse]

Re: Negative 60% ROI ...The Introspection of "Friday"

Good thing you bumped it, i have never seen it. Good way to put that in perspective. Awesome post MJ!

 

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[MJ DeMarco]

Re: Negative 60% ROI ...The Introspection of "Friday"

Bump -- it's Friday in Australia!

 

[Salinger]

Re: Negative 60% ROI ...The Introspection of "Friday"

By that logic, I could invest 0 days and party for 7 and enjoy an infinite return.

The problem is we can not just look at trading time for time in a vacuum. That is not the only commodity in the equation. Those 7 days of fun become a lot less fun if I don't also have the means, or "fun tickets," to pay for what I want to do"

We are trading our time at work for our fun tickets (cash), and the ability to pay the rent, put gas in the car, etc. It's a balance, involving tradeoffs. You can spend time 100% on work and earn lots of fun tickets, or you can spend the fun tickets you've earned and enjoy lots of time doing things you enjoy.

I like what you're saying with your analogy though.
Time is perhaps the most important commodity we have. Spend it wisely.
Be sure you're getting value for it and don't give it away too cheaply.

 

[^eagle^]

Re: Negative 60% ROI ...The Introspection of "Friday"

sorry MJ but your logic is flawed. You propose something like the anecdote below....

So you want a day off?

So you want a day off. Let's take a look at what you are asking for.

There are 365 days per year available for work.

There are 52 weeks per year in which you already have 2 days off per week, leaving 261 days available for work.

Since you spend 16 hours each day away fron work, you have used up 170 days, leaving only 91 days available.

You spend 30 minutes each day on coffee break which counts for 23 days each year, leaving only 68 days available.

With a 1 hour lunch each day, you used up another 46 days, leaving only 22 days available for work.

You normally spend 2 days per year on sick leave.

This leaves you only 20 days per year available for work.

We are off 5 holidays per year, so your available working time is down to 15 days.

We generously give 14 days vacation per year which leaves only 1 day available for work.

There's no way I'll let you take that day off!

A more accurate measure would be.....


the total hours in the week = 218
Total average hours the rat racer works= 50

Giving me a 1 for 4 trade

Now I take those 168 hours (218-50=168)

What do I do with them?

I personally sleep almost 40 of them. I spend 10 to 12 on family

5 on TV (mostly I fall asleep before an hour of TV watching)


And pretty much the rest of it is devoted building my vehicle!

Dont limit yourself to the weekend!

 

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[MJ DeMarco]

Re: Negative 60% ROI ...The Introspection of "Friday"

Bump for Friday!!!

 

[rcardin]

Re: Negative 60% ROI ...The Introspection of "Friday"

Since this is my last Friday on vacation, this hits home. I think this will be the opening speech for my middle school kids this year,with your permission of course. Great segway into some of my lessons. Thanks!

 

[humphrey]

Re: Negative 60% ROI ...The Introspection of "Friday"

I have never understood the principle of working for the weekend. Yet everybody's doing it...

 

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[ITA]

Re: Negative 60% ROI ...The Introspection of "Friday"

Well, the logic of the original post is a bit flawed. It's not just the 2 days of freedom they are getting, they also get a salary, benefits, etc.

But yeah, for me a huge benefit of having my own business is working whenever I want. I shop or go the pool etc during weekdays when it's all empty. I love it. I often work during week-ends but I don't mind. Not having to cram all my work in an arbitrary period of 5 days is huge.

The other week apparently corporate folks had a monday and tuesday off where I live, so 4 days off total. When I called this woman at a company I do business with, later in the week, she was like "I hope you have enjoyed the holiday", and I was like "The what? Uh?". I didn't know and hadn't noticed any difference :lol:

 

[imcmillionaire]

Re: Negative 60% ROI ...The Introspection of "Friday"

Great post. The lack of understanding causes people to work 5 days and become free for 2. I call this Slavery , some call it a way of life. My perspective is work for your self and take the rest of your life off!

 

[humphrey]

Re: Negative 60% ROI ...The Introspection of "Friday"

A friend and I were discussing this topic today. It's amazing that some people just cant understand that you DONT HAVE TO WORK 5 DAYS A WEEK. Where those numbers come from anyways? Who decided "5 on, 2 off, sounds good to me"? I'm not buying it.

 

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[MJ DeMarco]

Re: Negative 60% ROI ...The Introspection of "Friday"

Well, the logic of the original post is a bit flawed. It's not just the 2 days of freedom they are getting, they also get a salary, benefits, etc.

That IS the point. They sacrifice Monday thru Friday for the benefits/salary which give them their special Saturday and Sunday. The salary gives them their FREE days! To get salary/benefits, Mon-Fri must be forgone. Without the benefits and the salary, that Sat/Sun cannot be bought. They buy Sat/Sun with Mon-Fri. Semantics.

People buy a house, mortgage it and then work endless hours for the company just so they can have the privilege of sleeping in that house so they can repeat the process over and over again.

 

[MJ DeMarco]

Re: Negative 60% ROI ...The Introspection of "Friday"

Friday bumparoo!

 

[EntreViews]

Re: Negative 60% ROI ...The Introspection of "Friday"

Thanks for the bump.... Pressing onward and upward!

 

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[mkzhang]

Re: Negative 60% ROI ...The Introspection of "Friday"

I think if everyday was Friday I would become a slob lol

 

[MJ DeMarco]

Article moved and updated ...

http://www.fastlaneentrepreneurs.com/2010/thank-god-its-friday/