Can You Guess What People Think Their Time Is Worth? Some Say $240 An Hour – But One Generation Values Their Time Way More

Would you take it if someone handed you $240 for an hour of your time? According to new research from Empower, that's the average value Americans place on an hour of their day. Multiply that by a standard 40-hour workweek, which is a massive $499,200 a year – nearly eight times the average U.S. salary of $59,384.

This may be the "average," but not everyone agrees. A third of people said their time is worth less than $50 an hour, while one in four Millennials set the bar sky-high at over $500 an hour – the highest valuation of any generation. Meanwhile, Boomers? Just 6% of them believe their time is worth that much.

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This study doesn't stop at hypothetical hourly rates – it dives into how Americans spend, save and prioritize time and money. 

Racing Against the Clock

Here's the paradox: even though 44% of Americans say they started saving for retirement early enough, half still feel like they're running out of time. Another 43% admit they wish to rewind the clock and save sooner.

It seems we're all chasing something, whether financial security or more hours in the day. Nearly half (48%) say they'd prefer a longer retirement with less money over working longer to save more. And honestly, who can blame them?

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How Much is an Hour Worth? It Depends on Who You Ask

The study uncovered some surprising generational differences in how people value their time:

• Millennials: $328.84/hour

• Gen Z: $266.92/hour

• Gen X: $215.90/hour

• Boomers: $137.19/hour

People are willing to pay serious cash to save time. Millennials are the biggest spenders, with 36% saying they'd pay up to $10,000 a year to outsource chores like cleaning and cooking. A third of Gen Z would shell out $5,000 to avoid everyday tasks.

And it's not just about convenience. Around 40% of people say they'd rather spend money now to make life easier than save it for later.

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The AI and Outsourcing Era

Technology is also helping people manage their time and money. A quarter of Americans would use AI to help pay bills on time or create a budget. Meanwhile, 26% would spend $5,000 annually to have someone else handle their financial planning and investments.

Time vs. Money: The Great Debate

When it comes down to it, many Americans prioritize time over money. Nearly two in five (37%) say saving time is more important and 63% say they feel "wealthy" if they have enough time to spend with family and friends.

Time has become a luxury, with people willing to go into debt for it. Almost a third of Americans are comfortable borrowing money to gain more free time or to create memorable experiences.

Empower's study reminds us that time is money – but it's also priceless. Americans spend a dollar on their time, but the real challenge is using it wisely.

You can't buy time, but you can manage it better. A financial advisor can help align your money and priorities, so you spend less time stressing and more time living.

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