Michael Newman (Adam Sandler) is a hardworking architect who is married to his longtime sweetheart, Donna (Kate Beckinsale) with two children, Ben and Samantha. Michael is easily pushed around by his overbearing boss, Mr. Ammer (David Hasselhoff). On numerous occasions, Michael willingly sacrifices time with his family to work so he can give them the kinds of possessions he never had. While going in search of a universal remote control at the retail store Bed Bath & Beyond, Michael falls onto a bed and then proceeds to the section marked "Beyond". There, he befriends a mysterious man named Morty (Christopher Walken), who gives him a "universal" remote control for free and warns him that it can never be returned.
To Michael's amazement, he finds that this remote can actually control time. At first, Michael uses the remote to have fun, but then starts to use it for his benefit, including to interpret for foreign clients or revisit events in his life, including a time in his childhood. During a family vacation in New Hampshire, the other kids had declined his invitation in favor of another family who had more compared to his family. However, Michael also uses the remote to skip quarrels with Donna, to avoid suffering a cold by skipping to the point at which he recovers, and to skip a family dinner in order to finish an important project. Later, Morty reveals that when Michael fast-forwards through time, his body is on "auto-pilot," going through the motions of everyday life at a rapid pace. After Ammer promises Michael a partnership, Michael decides to skip ahead to it, but ends up skipping a year of his life. Michael also finds out that he is in marriage counseling, his children prefer to watch CSI instead of Dragon Tales, and he missed the death of his dog. To make matters worse, the remote begins fast-forwarding on its own. Michael's various attempts to dispose of or destroy the remote fail, giving him the resolve to regain agency of his life. The next day, Ammer tells Michael he is retiring and suggests that one day Michael may end up CEO. Momentarily forgetting his plan to outfox the remote, Michael says he would like to end up CEO; the remote reacts accordingly and fast-forwards to 2017. Michael is now the CEO of the company with all the material wealth he had wished for, albeit at the cost of his family's state. He is now severely overweight and discovers he resides in his own residence. Michael is resented by everyone in his family and is divorced from Donna. He also discovers that Donna is now dating Ben's childhood swim coach, Bill. While visiting his old house, Michael fights with Ben, Donna and Bill, and the new family dog pounces on him, causing him to fall and hit his head on a brick wall, knocking him into a coma.
Having "learned" from Michael when he skipped his cold, the remote transports him six years into the future. Michael is no longer obese, Donna has married Bill, and Ben has gone into his father's line of work. Michael is devastated when Ben tells him his father Ted has died, and Michael, while visiting his father's tomb, tries to use the remote to go to the moment when Ted was on his deathbed, but Morty shows up to say the remote only works for times and places where Michael had been present. Michael uses the remote to take him to the point when he last saw Ted alive, which is when Ted made an impromptu visit to his son's and grandson's office. Michael sees that, while on auto-pilot, he had violently rejected his father's offer for a night out with him. Heartbroken, Ted says, "I love you, son," and walked away with Ben. Morty reveals he is in fact the Angel of Death. Upset with his life, Michael begs to go to a "good place", and fast forwards to Ben's wedding in 2029. There, he witnesses Samantha call Bill "Dad", and the shock triggers a second heart attack. When Michael awakens, Morty appears and tells him that he has chosen his path and is powerless to do anything about it. Michael's family arrives, and Ben reveals that he has canceled his honeymoon in order to work on an important deal that will keep his business going. Not wanting Ben to make the same mistakes he did, Michael rushes after him. A nurse attempts to stop him, but Michael manages to get away and ignores Morty's repeated warnings that he will die unless he goes back to the hospital, saying he must get in his last words to his family. Michael reaches his family and collapses, but manages to convince Ben that family must come first; he reassures the others that he still loves them, and Morty approaches to take him.
Michael wakes up in the bed onto which he had collapsed at Bed Bath & Beyond, convinced that the events have all been a dream. A reformed Michael offers his friendship towards the store's lonely retail associate, and makes amends with his family, vowing never to neglect them. Michael finds the remote and a written note by Morty sitting on his kitchen counter. He realizes his experience was not a dream but a warning. Michael thanks Morty and disposes of the remote in the trash bin, and goes to enjoy the company of his family.