Post: #1

This seems like a foreign concept to some, but for me at least, if I was unable to find a job making a certain amount of money or doing something I liked, I simply wouldn't do it. Do you have a 'getting out of bed' wage?

For instance, in 08/09 we all had to take a paycut due to the recession. Bosses, and even some employees took the attitude that 'ah well some money is better than no money' 'it's better than being laid off' or 'you're lucky to have a job at all' which almost implies that the value of your free time is worthless, and that everyone *needs* the money. Completely ignores the opportunity cost of time spent working. By not working there are a thousand and one interesting things you can do, many of which have been discussed here.

This also is working on the assumption that you're more or less financially free, and don't need a job, another concept which seems foreign to the majority of people out there.

The problem seems that as you get more and more experienced and more financially healthy, to more demands employers put on you, because you're that much more valuable. At the same time, since your that much more financially independent, the draw of actually getting that pay check means less and less.

Post: #2

1) If you need money,

AND

2) until you have a better option,

your free time is worth less than your time at work.

If you don't need the money, free time > work.
If you have another option Free time > Work

WIA

Post: #3

Another factor to consider in opportunity cost is the immense value of youth. Your best young women banging years are usually 16-50 or so and it's also the best time period for you to be involved in sports, traveling, or outdoor activities. There are outliers who are pimps into old age and who also maintain their health but they are sadly just that..outliers.

So let's assume you have 34 good years of health and you're young enough to do what you want to do. Careful consideration should be made to maximize earning potential without sacrificing too much of your youth.

Youth is irreplaceable and most people don't consider this when they toil away at the corporate cubicle mill. So I would weigh these years as being worth much more than any other time period.

Post: #4

I definitely do regarding teaching. I don't need the money as such (though I am trying to increase my wealth, so I still work) because I have investments and passive income. For me, it's largely about the bullshit factor. There are some people I won't work with because I know right from the outset of meeting them that they will annoy the hell out of me, and a lot of them are just tyre kickers anyway, so I highball them to get rid of them or to see if they're really serious. It also tends to scare off the trashy clientele and leave you with a more middle/upper middle class clientele. Another way around such a problem is to not deal with people one-on-one, but to set up a group class (I have written about this previously). Obviously, everyone has a price, but if they're not going to pay mine (whatever that would be), the point is moot. For others, I will actually give my time away for free, or I will run over time without sticking my hand out. I tend to think that to some extent, if you give freely, you will get in return. I don't watch the clock with some of my private students, and this comes back to me through positive vibes/recommendations. The mothers of my students (including one who is a principal, and so has local influence) are like my own personal sales team.

Post: #5

(07-01-2014 10:47 PM)El Chinito loco Wrote:  Another factor to consider in opportunity cost is the immense value of youth. Careful consideration should be made to maximize earning potential without sacrificing too much of your youth.

I agree with you to a certain extent.
Everybody's opportunity cost of time is different. A guy who's an alpha will want to maximize his high school and college years banging hot chicks just based purely on his looks, but not to the detriment of his career. A beta guy will not have as much sexual opportunity in his youth may want to focus more on his education and career in order to earn more money to increase his sexual market value in his late 20s to his 30s and beyond (since you're not getting good quality sexual opportunities anyway). That's only a general distinction between alpha vs. beta opportunity cost of time up to maybe age 50.

Beyond age 50 (or even age 40), there is no distinction between alpha and beta in the eyes of the most sexually desirable women age 18-28. Only money, power, and fame can attract these women, and they will generally be gold diggers, not the best of women, but you get what you can get.

Alternatively at age 50 and beyond, on a middle class income and savings you can travel abroad to get peak SMV chicks.