> A lot of people think like this. I get paid $200 an hour, my electrician gets paid $100 an hour, therefore I should pay my electrician $100 and use the time I saved to make $200.

The flaw of course is that $200 is not opportunity cost. Your time is only worth money if you’d otherwise be working. So when I get home from my 9-5 job where I make a fixed salary, and fix my faucet, that job just got done for free. There was no opportunity cost because I don’t get paid hourly and was already done with work for the day.

I’m a rather extreme DIYer, and I can confidently say I would not live the lifestyle I do if I paid people to repair my car, build my furniture, cook my food, mow my lawn, do all my home improvements, plumbing, electrical work, fix my electronics. All that labor adds up, especially in the expensive Bay Area. If you take what you’d otherwise spend on all that, starting say age 20, and instead put it into your retirement account you could probably retire 5-10 years early.