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Re: Semi-retirement
Old 06-22-2005, 11:43 AM   #21
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Re: Semi-retirement

There are some part time jobs that pay well. But you need strong specific skills and a good network. And they probably wont run for more than a couple of years.

For example, I knew a guy who was very strong in developing high tech training curriculum. He dropped out, but kept his network alive. Every now and then someone would call him up and say "I need a couple of hundred pages of boilerplate for a training class in high speed networking...I need it by the end of the weekend (it would be wednesday), and I can pay $10k". He'd spend the next 4-5 days working 20 hours a day spinning together an outline and then filling it with stuff he grabbed from here and there, tailoring and tweaking it and turn it over. Same folks would have him go teach a one-off class off the top of his head with a whiteboard for a day, pay him 3-5k plus expenses.

I could have, and probably still could, do some consulting gigs for my old company. I'm sure one of my old vp bosses would love to have me cowboy up a program out of control or something radioactive that nobody else wanted to stick their political weener into. I could probably do 1-3 months a year, probably all in one chunk, and make 30-50k a pop for the gigs.

Couldnt be less interested. Although just thinking about it, maybe I'll try one. Might be fun to get out of the house, see what airports are like these days and get a good facefull of why doing it would be the worst idea I ever had
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Re: Semi-retirement
Old 06-22-2005, 12:04 PM   #22
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Re: Semi-retirement

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Originally Posted by Nords
Sounds like that's the kind of client who needs to make friends with a new partner. How much longer do you have to think of them as "your" clients?
[whine] But they are mine, all mine [/whine]. I do have a partner for back-up who knows and works with my clients. Unfortunately he is about as busy as a human can be so guilt raises its head and I have a hard time dumping on him.

Quote:
I wonder if there's a sweet spot in this curve. Do you get more efficient at part time work as time goes by?
No. I am getting less efficient every day. Here I am, chatting with all of you at my desk at work.

Quote:
Is it a selection of better clients (after you shovel out the deadwood) to decide which are worth keeping and which need to be "fired"? Is it worth hiring a part-time assistant to handle the drudge work that sucks up 90% of your 60%?
I did pare down my clients to the best of the best, though I am having to get rid of some old bankruptcy deadwood, which is what is ruining my day. Got a new associate coming on in August.

I just have lost the taste for it all.

It is complicated by a odd circumstance. I have this part time arrangement that will pay me based on a formula we negotiated. I can guess pretty close where I will be by year end, and I am not thrilled with the money outlook for this year. On the other hand, based on our employment agreement, if I quit now, at mid year, I would get more money now than I would by working all year. This is because the midyear, pre bonus payout formula is based on my prior two year's work, which was fulltime.

By not quitting mid year, I am saying to myself, "self, you are planning to stay at least until mid year next year" when the formula again would give me more to quit midyear than to work a full year.
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Re: Semi-retirement
Old 06-22-2005, 02:14 PM   #23
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Re: Semi-retirement

so Martha is it worth another year? I've some of the same frustration as you, but have been able to slice off all/most of the b.s. and just get my client base down to a core of good clients, and this has allowed me to enjoy the practice again. But if you don't, is it worth another year?
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Re: Semi-retirement
Old 06-22-2005, 02:38 PM   #24
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Re: Semi-retirement

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Originally Posted by Martha
Part time* isn't working so hot for me.* I do enjoy more free time and ability to travel.* But I feel I still have a chain attached to work.* I need my computer, email and cell phone everywhere because something might happen.* My clients say, "you're gone again?".* * I am working maybe 60% time for 40% money.*

Bad week at work.* Tying up old bankruptcy trustee cases where there is no money left to pay me or anyone else.* Working for nothing is never fun.*
Martha, this reminds me of me.* Substitute Architect for Lawyer and "old remodel projects" for "old bankrupcy trustee cases."* *Still not getting enough fee, and not having fun, and wanting to be outta here.

I can certainly learn some good lessons from your experience.* *Thanks for being the guinea pig*
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Re: Semi-retirement
Old 06-22-2005, 04:46 PM   #25
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Re: Semi-retirement

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Originally Posted by Martha
I just have lost the taste for it all.
Was it really just last year that you weren't sure about ER?

Sounds like you're mentally ready now... How's the portfolio?
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Re: Semi-retirement
Old 06-22-2005, 06:13 PM   #26
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Re: Semi-retirement

A part-time gig such as running a side business is easy. Sure, I have my own side business and it is part-time and pays well. However, you have to be continuously on top of it on a daily basis. Although it is better for my mental health than my cube farm job, it is a seven days a week commitment. Lots of opportunities out there, that is not my concern. Most p/t and particularly self employment gigs require ongoing commitment. It also means either get clients, merchandise or keep in contact with prospects or clients. It is always there in the background. And unlike my cube farm job, my p/t business comes to a grinding halt when I am not actively working on it.

If I have to choose between 50% p/t work and pay by still coming in every M-F, I would propably just take the full package with 100% pay. A 3 or 6 month commitment per year would be sweet though.... Since it is unlikely I will be getting such a deal any time soon, I think I will keep on riding the gravy train at the cube farm and work on the side until I can afford to say goodbye to all of it.

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Re: Semi-retirement
Old 06-22-2005, 08:01 PM   #27
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Re: Semi-retirement

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Originally Posted by vic
Since it is unlikely I will be getting such a deal any time soon, I think I will keep on riding the gravy train at the cube farm and work on the side until I can afford to say goodbye to all of it.
Vicky
There's a lot to be said for that - especially if the end is in sight!
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Re: Semi-retirement
Old 06-23-2005, 05:55 AM   #28
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Re: Semi-retirement

Uncle, Sheryl and Nords, I have another trip coming up soon. Will meditate on all of this when I am gone. My inclination is to go another year but at a even a slower pace if I can hand off more work. There is one client's work I especially enjoy. Actually enjoy. As a practical matter, I can't just up and quit right now. It wil take me several months to wind out of the work.
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Re: Semi-retirement
Old 06-23-2005, 09:53 AM   #29
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Re: Semi-retirement

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Originally Posted by Martha
Uncle, Sheryl and Nords, I have another trip coming up soon. Will meditate on all of this when I am gone.*
You would think that there'd be a way to keep doing the work for clients you enjoy while not having to do the work for clients you don't enjoy. *How is your law firm screening these billpayers anyway? *Is the structure of your law firm helping this ER transition or just getting in the way?

Well, when you catch up on sleep and get a few days' recreation, suddenly all these logical solutions start popping out of your subconscious.

Looks like you're moving from "whether" and "if" to "when" and "how"... rock on!
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