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Old 12-20-2011, 09:39 AM   #21
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My company will also let us cut back to as low as 30 hours per week, and still be considered full-time.
The company I retired from had the same option. However, the workload remained the same (meaning my 40 hour week, actually 50-60 hours in actual time spent) would remain the same.

There was no "slacking off" on deliverables, or slip in project time.

Needless to say, I did not take the option.

I took my own "option" a few years later by retiring early (not by this forum's measure, but before the age of 60), on my own terms.

Cutting back was not an option in my case - even though I really was persuing the idea actively.
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Old 12-20-2011, 12:10 PM   #22
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Right now, I guess I just don't feel financially independent enough to start doing that yet. So I prefer taking the money from the overtime and vacation payouts, investing it, and getting to the FI part that much sooner.

For what it's worth though, in 2011 I've taken more time off than any time in my recent memory, so I guess I am coming around, a little bit. I took an entire week off back in June to go hit some amusement parks in Ohio, and then go to a classic car show in Carlisle, PA. And then in November, I took off a week and went to Aruba. And have taken a day off here and there.

In 2010, I did the amusement park/classic car show thing as well, but that time I got back home on a Tuesday evening, worked Wed/Thurs, and then Friday went up for the car show. So this time around, I just took the whole week off. Got back from Ohio on a Wednesday nite, did stuff around the house and chilled on Thurs, and then went up for the car show on Fri.

So, little by little, I am weaning myself off of work.
Hopefully, you're closer to your goal (2007 post) of $1M net worth and the extra work hours are accelerating you across the finish line.

I'm in a somewhat similar position, closing on on my 'number' and hoping to be able to semi-FIRE soon.
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Old 12-20-2011, 12:41 PM   #23
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Hopefully, you're closer to your goal (2007 post) of $1M net worth and the extra work hours are accelerating you across the finish line.

I'm in a somewhat similar position, closing on on my 'number' and hoping to be able to semi-FIRE soon.
Yeah, that's what I'm hoping for, although I do have a feeling that once I cross that finish line, I won't be ready to quit, completely. For one thing, the older and more mature I get, the more I realize that $1M won't go as far as I once thought it did! But, once I get there, I know I'll start breathing a little easier!

And, in 2012 it's going to be my goal to take off more time than I did in 2011.
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Old 12-20-2011, 12:59 PM   #24
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Yeah, that's what I'm hoping for, although I do have a feeling that once I cross that finish line, I won't be ready to quit, completely. For one thing, the older and more mature I get, the more I realize that $1M won't go as far as I once thought it did! But, once I get there, I know I'll start breathing a little easier!

And, in 2012 it's going to be my goal to take off more time than I did in 2011.
Well, if the ".....1969" in your forum name is your birth year, you're 42. If so, you're well ahead of where I was at 42 so, congrats for that, and keep at it.
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Old 12-20-2011, 02:48 PM   #25
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The company I retired from had the same option. However, the workload remained the same (meaning my 40 hour week, actually 50-60 hours in actual time spent) would remain the same.

There was no "slacking off" on deliverables, or slip in project time.

Needless to say, I did not take the option.
Reminds me of the "flex time" program at one company I worked at long ago. You could come in any time between 6 AM and 8:30 AM, and you could leave any time after 5 PM to 7:30. Um...
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Old 12-20-2011, 06:58 PM   #26
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FYI to the folks asking about things like health insurance. Usually in a professional services based partnership your income is self employment income and the partnership doesn't "pay" for any of the benefits. Doesn't matter if you have the partnership pay for benefits or you pay them out of your pocket since its all the same to your bottom line and how the IRS will tax you...
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Old 12-21-2011, 03:05 PM   #27
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I am a shareholder in my small firm. We have a formal buy sell agreement that spells out early retirement and part time options for shareholders. One stipulation is that you are not eligible to cut back or retire early without reaching a certain milestone age + service time (for me the # is 50 years old). Second you have to sell your portion of the business proportionate to the amount of hours cut back. In other words if I cut back to 75% I would be required to sell 25% of my shares back to the company and I would be paid for them over 5 years. The calculation of share values is also laid out in the buy sell agreement.
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Old 12-21-2011, 03:13 PM   #28
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Well, it looks like my company is going to push me into taking more time off, whether I want it or not. Currently, I get 200 hours per year, can accrue up to 400, but anything over 200 gets paid out after the end of the year.

Just got a memo that says they're changing it. I still get the 200 hours per year, but can only accrue up to 300 total, and then it gets capped. And the only time they'll do a payout anymore is when you're terminated.

The rebel in me wants to find a way to fight this, but I know I need to just chill out and accept it.

I'll still get my 95 hour overage paid out in January 2012, which will get me back down to 200. And I'll have to find a way to use at least 100 hours over the course of 2012, since I'll be accruing another 200, but can only keep 100. That would put me at 300, my max. But then, from 2013 on out, I'll have to find a way to use up at least 200 per year.
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Old 12-21-2011, 05:47 PM   #29
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Well, it looks like my company is going to push me into taking more time off, whether I want it or not. Currently, I get 200 hours per year, can accrue up to 400, but anything over 200 gets paid out after the end of the year.

Just got a memo that says they're changing it. I still get the 200 hours per year, but can only accrue up to 300 total, and then it gets capped. And the only time they'll do a payout anymore is when you're terminated.

The rebel in me wants to find a way to fight this, but I know I need to just chill out and accept it.

I'll still get my 95 hour overage paid out in January 2012, which will get me back down to 200. And I'll have to find a way to use at least 100 hours over the course of 2012, since I'll be accruing another 200, but can only keep 100. That would put me at 300, my max. But then, from 2013 on out, I'll have to find a way to use up at least 200 per year.
Welcome to the mainstream. Your previous set up was uncommon.
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Old 12-21-2011, 08:44 PM   #30
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And, in 2012 it's going to be my goal to take off more time than I did in 2011.
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Originally Posted by Andre1969 View Post
Well, it looks like my company is going to push me into taking more time off, whether I want it or not. Currently, I get 200 hours per year, can accrue up to 400, but anything over 200 gets paid out after the end of the year.
The rebel in me wants to find a way to fight this, but I know I need to just chill out and accept it.
Sounds like the company is trying to help you reach your 2012 goal.

I took off 8760 hours last year, and I'm on track to achieve the same this year. If it goes well then I'm shooting for 8784 hours in 2012...
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Old 12-22-2011, 01:11 PM   #31
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Few employers want people who don't live for their work these days. Some talk about "work/life balance" but it's a smokescreen to look like they care. There may some workplaces (mostly privately held, I'll bet) where they do care a little bit, because they don't have shareholders threatening to fire them if they don't treat their employees like disposable commodities so they can squeeze out every last cent in the earnings report.
You nailed it, Zig.
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