Timmy feels that he is not appreciated, so he wishes that he was never born, thinking that everyone will be miserable without him. Unfortunately for him, everyone has a better life without him: his parents are rich and have a talented daughter, his best friend, AJ, has a full head of hair and is in college, Crocker is no longer obsessed with finding fairies and is now a much-loved college professor, Vicky is an anesthesiologist for Dr. Bender the dentist and Chester has Cosmo and Wanda as his Fairy Godparents. To make matters worse, Jorgen is threatening to send Timmy to a world where children have improved the world by wishing themselves away. Timmy now has to set things right and wish he was born again.

Cosmo's magic gland is not working properly, and he must get a donation from Anti-Cosmo before it shuts down.