Question: When I consider my own existence with respect to time I can imagine three possibilities: 

(1) **Time extends infinitely into the past.** In this case, how can the present, with me in it, exist, since there would be an infinite period of time that existed before the present. That seems illogical. 

(2) **Time had a starting point from which everything in our universe evolved to the present (t=1).** That possibility would require something (God) to start the clock ticking (t=0). But in this case we're back to square 1 with the problem of an infinite past. So the only possibility that makes sense to me is a third possibility 

(3) **Where time is some sort of abstraction in human consciousness that we need in order to relate cause and effect.**

Answer: 
The closest thing that time abstracts is motion. The passage of time is always tracked by some form of motion, be it clock ticks, days, seasons, ageing etc. If the motion of everything in the universe where to cease, time is frozen. Since time directly correspond to periodic (repetitive motion), one can argue that it is physical and not a pure mental construct. But if you ask if time is as 'real' as space, well it's not.

Ref: motionmountain.net
3 is correct. Time is a abstraction, a filing system used to arrange events and memories into a logical system of cause and effect.

Per relativity, space and time are not discrete entities, but a single construct called spacetime. Saying something is X km long is equal to saying it is Y seconds long. All units of time are based on and can be reduced to measures of distance.

Time is a mental construct used to make sense of movement. Movement produces the sensation and experience of time, not the other way around.