Close Menu
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Chinese team develops Mars soil simulant to boost future exploration endeavors-Xinhua

July 10, 2025

Pakistan, Turkiye weigh aerospace partnership

July 10, 2025

Williamson still wants to play for NZ, says coach – Sport

July 10, 2025
Facebook X (Twitter) Instagram
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us
Facebook X (Twitter) Instagram Pinterest Vimeo
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports
Nabka News
Home » The time is money. A new study shows just how valuable it is.
USA

The time is money. A new study shows just how valuable it is.

i2wtcBy i2wtcMay 3, 2024No Comments4 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
Follow Us
Google News Flipboard Threads
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link


Time is precious and Americans know it.

Financial planning firm Empower surveyed 2,204 adults between March 11 and March 14 and asked them how much they thought their time was worth.

On average, Americans valued their time at $240 per hour. Based on a standard 40-hour work week, their perceived value would be $499,200 per year, nearly eight times the average U.S. salary of $59,384.

Research shows that people value their time so much that many are willing to spend money to get a little more or live a happier life. became.

“Whether it’s a better work-life balance or a $7 cup of coffee a day, it’s a race to find happiness,” Empower said.

Protect your assets. Best High Yield Savings Accounts of 2023

Which age group values ​​their time the most?

Data shows that how much people value their time varies by age.

  • Millennials (born between 1981 and 1996) value their time the most, saying an hour is worth $328.84, and a quarter of them think it’s worth more than $500. This is the highest percentage of any generation. Only 6% of baby boomers charge more than $500 per hour.
  • Gen Z (born between 1997 and 2012) said it costs $266.92 for one hour of use.
  • Generation X (born between 1965 and 1980) said their time was worth $215.90 per hour.
  • Baby boomers (1946-1964) said that one hour of their time was worth $137.19.

Millennials value their time more because of a sense of lost time, such as the 2008 financial crisis that brought many into the workforce, and the subsequent upheaval caused by the pandemic. Record high levels of student debt, as well as the highest inflation and mortgage rates in decades, are also deterring millennials from buying homes, Empower said. It is said that there is

How much would you sacrifice to get an hour of your time back?

Time is so valuable that 26% of Americans say they would be willing to take a 15% pay cut to have more free time. Millennials (41%) were most likely to want to do this, Empower said.

Americans would also pay someone to do something to get their time back.

  • According to the survey, 36% of people would rather pay more to have an item delivered than drive 10 minutes to pick it up.
  • More than 2 in 5 Americans say outsourcing household chores will improve their work-life balance. One-third of Gen Z would pay up to $5,000 a year to save time by skipping tasks like cleaning and yard work, and 36% of Millennials would pay someone to do office chores or make meals for them. He plans to pay as much as $10,000.
  • Americans don’t like managing money. More than one-third of American girlfriends procrastinate when it comes to money matters, such as paying bills, and 26% prefer to have someone else manage their long-term finances, investments, and savings. They said they would spend $5,000 a year.
It's possible to find space and fun for multigenerational family travel

What makes people feel wealthy?

For most Americans, wealth is about more than just a bank account. According to the survey, 63% of respondents said they would feel wealthy if they had enough time to spend with family and friends.

Nearly a third of people are willing to take on debt if it gives them free time and memorable experiences.

According to the survey, nearly 40% of Americans say saving time is more important than saving money, and that number rises to 52% for Millennials.

How much is that vacation worth to you?Americans take on this much debt to pay for vacations

What about saving for retirement?

The survey found that nearly half of Americans feel like they are running out of time to save for retirement, even though 44% say they started saving money early enough.

According to the survey, 43% said they wish they had gone back in time and started saving sooner, while nearly half would rather live out a long retirement with less money than retire with more money later in life. I said yes.

But Americans generally remain “optimistic” and “people may be further along than they think,” the survey said.

The average 401(k) balance is $291,810, but for people in their 50s as they approach retirement age, that balance jumps to $580,259, according to data from Empower Personal Dashboard.

Medora Lee is USA TODAY’s money, markets and personal finance reporter. Please contact us at mjlee@usatoday.com. Subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
i2wtc
  • Website

Related Posts

USA

Trump says China’s Xi ‘hard to make a deal with’ amid trade dispute | Donald Trump News

June 4, 2025
USA

Donald Trump’s 50% steel and aluminium tariffs take effect | Business and Economy News

June 4, 2025
USA

The Take: Why is Trump cracking down on Chinese students? | Education News

June 4, 2025
USA

Chinese couple charged with smuggling toxic fungus into US | Science and Technology News

June 4, 2025
USA

As Trump raises deportation quotas, advocates fear an expanding ‘dragnet’ | Donald Trump News

June 4, 2025
USA

US to reduce military presence in Syria, keeping only one base operational | Syria’s War News

June 4, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Chinese team develops Mars soil simulant to boost future exploration endeavors-Xinhua

July 10, 2025

House Republicans unveil aid bill for Israel, Ukraine ahead of weekend House vote

April 17, 2024

Prime Minister Johnson presses forward with Ukraine aid bill despite pressure from hardliners

April 17, 2024

Justin Verlander makes season debut against Nationals

April 17, 2024
Don't Miss

Trump says China’s Xi ‘hard to make a deal with’ amid trade dispute | Donald Trump News

By i2wtcJune 4, 20250

Growing strains in US-China relations over implementation of agreement to roll back tariffs and trade…

Donald Trump’s 50% steel and aluminium tariffs take effect | Business and Economy News

June 4, 2025

The Take: Why is Trump cracking down on Chinese students? | Education News

June 4, 2025

Chinese couple charged with smuggling toxic fungus into US | Science and Technology News

June 4, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

About Us
About Us

Welcome to NabkaNews, your go-to source for the latest updates and insights on technology, business, and news from around the world, with a focus on the USA, Pakistan, and India.

At NabkaNews, we understand the importance of staying informed in today’s fast-paced world. Our mission is to provide you with accurate, relevant, and engaging content that keeps you up-to-date with the latest developments in technology, business trends, and news events.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Chinese team develops Mars soil simulant to boost future exploration endeavors-Xinhua

July 10, 2025

Pakistan, Turkiye weigh aerospace partnership

July 10, 2025

Williamson still wants to play for NZ, says coach – Sport

July 10, 2025
Most Popular

World’s largest car carrier built by China sets sail-Xinhua

May 16, 2025

Foreign businesses deepen roots in Chinese market through int’l trade fair-Xinhua

May 21, 2025

From blueprint to brotherhood, Tanzania’s AFCON stadium rises with Chinese support-Xinhua

May 27, 2025
© 2025 nabkanews. Designed by nabkanews.
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us

Type above and press Enter to search. Press Esc to cancel.