alex_zag_al comments on Things I Wish They'd Taught Me When I Was Younger: Why Money Is Awesome - Less Wrong

32 Post author: ChrisHallquist 16 January 2014 07:27AM

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Comment author: alex_zag_al 16 January 2014 06:30:05PM *  0 points [-]

You make a few different points, and I've tried operationalizing two of them.

Time is expensive:

  • when considering a job, estimate how much time you'll be able to take off from it and when you'll be able to retire, and what you'll do with that time

  • do this estimation for a lot of jobs, even those that don't seem appealing, to find the opportunity cost of the ones that do seem appealing

I don't mean I've actually done these, not yet anyway. I just read the article.

Another point was, comparative advantage:

  • Observe time usage and look up costs to hire people to do what I'm doing

  • Look up ways to turn time into money. I'm getting paid a fixed stipend, but there must be TA or tutoring opportunities

With that information at hand, I can recognize the opportunity to, for example, trade my cleaning time for tutoring time and keep some cash