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Old 04-24-2010, 05:39 PM   #41
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Originally Posted by Katsmeow View Post
Finding this forum was really instrumental in my starting to think about how we could adjust our expenses and our lifestyle to retire earlier. So, yeah, it isn't all that early but it is earlier than I had anticipated.
Thus demonstrating that financial planning for retirement isn't *only* about generating more income.

"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 04-24-2010, 08:10 PM   #42
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how confident are you that the "one day a week" arrangement will in fact be only one day a week? The reason for asking is that I may try to get a similar arrangement for myself when I eventually pull the trigger. So far, the feedback from others I have spoken to is that there tends to be a lot of creepage in the reduced working hours as clients and colleagues keep asking the part timers to "just have a quick look" at something or if they can help out "because we have a situation" outside of the official working hours.
That's a good question. I am confident that I won't work more hours than I'm willing to work. I am being paid by the hour so don't have any worries about working full time for part time salary.

Basically I'm willing to work about 8 to 10 hours a week. The concept is that I'll go into the office one day a week. However, my role is going to be more of a consultant type role so I know that there will be some calls and emails on other days to review something and run something by me. I am OK with that so long as it is half an hour or an hour of something not 4 hours every day. And how long I'll come in for on the one day a week will directly relate to what I did on the other days of the week.

The bottom line is that the person who suggested this arrangement does very much want me to do this and knows that it would be easy for me to just not do it. It will be nice to have the extra money but I don't consider it necessary (i.e. we did our planning based upon that income not being there).

Also part of what will help is I've said I don't want to work on an ongoing basis on any matters. I've said I don't want to be copied on the correspondence that routinelyh comes in, I don't want anything put on my calendar, etc. Basically I don't want to get sucked into anything ongoing. I want the things that I'm consulted on to be basically standalone matters. I think that will also help with not letting more work creep in there.

So, we'll see how it goes. If I don't like it, then I just won't keep doing it.

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Old 04-27-2010, 05:13 AM   #43
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Originally Posted by Katsmeow View Post
To answer a couple of questions:

I am an attorney.

The kids get roughly $1100 a month because they are under 18 and my husband will be drawing Social Security. They receive 1/2 of his full retirement age benefit (subject to a family maximum that is about $4k a month).
I thought when you originally posted that it was somewhat risky. It is interesting a few factoids really change the situation. Attorney IMHO have a much easier time making a very nice wage working part time than almost any other profession. I'd certainly be happy to work one day a week for $1,000.
These certainly gives you latitude if the house selling doesn't working out as well as you hoped.

Maybe I missed it in the original thread but I thought you two were much younger (two kids under 18 gave me the impression).
Oh and before I forget congratulations.

Now my rant. Kids under 18 get social security based on his full retirement age, even though the husband retired at early 62. No wonder the system is in trouble.

On the other hand, I fell in lust with this cute single mom at the dentist office, and now my mind is busy trying to figure out how to scam the system.
Too bad I am more than a decade away from collecting.

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