Did You Find the Part-Time Work You Wanted After FIRE?

[youbet]

I haven't received a paycheck since leaving Megacorp in mid-2006. But so far I have avoided a number of expenses regarding our home, cars and hobbies by doing chores and projects myself that I would have paid for were I still "in harness." That seems like the equivalent of a part time job to me.

Decorating, landscaping and routine yard maintenance, minor car repairs and upkeep, minor house repairs, hobby related projects, etc. It adds up.

 

[vicente solano]

It has always surprised me how expensive results to go to University in the USA. Is it true to both public or private. Here in Spain this isn´t a major issue: Of course we don´t have your Princeton, Yale, Harvard or Columbia... But even so.
We like to say that no talented student goes without the possiblity of going to the best University.

 

[F4mandolin]

I am planning on going a bit too early myself at 54. If they offer VERA next school year I think that will do it. Cutting it a bit close, but we figure we should be able to average about $45k spending a year (no mortgage). If we need more money or I get bored (can't see it...but there is only one way to find out) there is a local school I guess I could sub teach at...but the plan is for no working. As I have said before....I have seen quite a few folks work until they are financially comfortable....retire....and then die within a couple of years. Now if I could only get the gods to tell me what is going to happen 20 years from now..........

 

[Koolau]

I've told my story before. Was still w*rking because I found myself in an assignment I liked and which used my talents. When that assignment was yanked, I could have stayed, done a p-poor job for a couple of years just to sweeten my retirement pot, but would have hated every minute of it (and myself for doing the p-poor job). So I RE'd with FI (Guess we call that FIRED.)

Just for fun, I looked for part time w*rk. Turns out, in my very specialized talent area, there was simply nothing available. So, I found a very limited PT j*b of driving used cars to the auction. So, just for something to do, I tried it. For something like $6/hr, I found a job that had more politics than the one I left where I earned 10 X that much. Go figure. Imagine the 80 year old guy who'd been doing this for 25 years (and worked for his BIL) being the "lead" driver of a dozen cars. You were supposed to keep in line, stay together, arrive at the same time, leave together in a van (assigned seats) and then stop (aka waste time) at a diner on the way home (we were actually paid by mile, not really by hour).

Only part of the j*b I loved was the occasional trip to another dealership to pick up a new car. DW and I could make a morning or afternoon of it. We each made about $7.50/hr because we weren't following a string of 12 cars lead by a power-mad 80 year old! If we wanted to stop for lunch we could. If we wanted to drive 80 we could. In short, other than the pay, it was a fun way to spend some time with DW.

Eventually, when local economy was tanking, the "plum" assignments dried up and we quit. Still, it just goes to show that the remuneration is secondary to enjoyment of a w*rk situation.

Of course, YMMV.

 

[CoolChange]

I have really been enjoying this thread. I think mostly because I didn't realize that so many of you are in the same boat as myself; and, as they say, misery loves company (apparently even when it is not true misery).

My current situation:

• Good at my job: Not bragging; just saying...If I weren't, I would have been unemployed long ago. (I am not a nice person to work with: Too honest, too little patience, etc.)
• Relatively well paid: Not doctor or Wall Street salary but still in top quintile for US workers.
• Minimally FI: I believe I could stay in the US and live very frugally or relocate to Central America and live relatively well without working any longer.
• Really want my SWR well under 3% for peace of mind: Financially conservative by nature and nurture I guess.
• Still finding enjoyment in parts of my j*b that I would do for much less money:
  • Supporting brilliant PhD's who are fun and interesting to work with
  • Working with executives at our customers to make multi-million dollar changes in their business
• Much of my j*b is just an annoying grind:
  • Less and less constructive work: Lots of drawing pictures and yelling at people for not doing their jobs.
  • Long hours
  • High stress (Granted, mostly self induced as I am driven to produce good results.)
  • Endless meetings, conference calls, etc. that I detest

I keep toying with the idea of quitting my current j*b and trying to find something part time where I could manage a small, talented IT development group and/or get my hands dirty with real design and development again. But, I have been too mentally exhausted to do much looking for this kind of position to see if it even exists (demand for my specific skills, at the salary/billing-rate, with the working conditions, etc. which would interest me).

The thought of starting my own, independent consulting practice is appealing on some levels; but, this also seems like it would entail a great deal of the kind of w*rk (marketing, sales, collections, etc.) that would quickly sour me on the whole thing.

Well, I guess this is enough rambling for now. But, I would definitely appreciate any other postings from folks who have made the part-time thing work. (Yes, I have read and enjoyed Bob's book; but, I just can't seem to make myself take the plunge.)

 

[ScottFromUtah]

My wife and I retired 2 years ago from our university positions, but we are authors of a college textbook that is now in its 7th edition and that we can continue to revise and update, if we choose to do so. It's great "part-time" work, very rewarding emotioinally and financially. But for the current revision, we brought on board a new coauthor, who is willing to take over the entire project in case we choose to remain totally retired. When the book needs revising again in about 3 years, we'll decide what we want to do. My guess is that we'll decide to let it go and stay completely retired.

 

[DeborahB]

It has always surprised me how expensive results to go to University in the USA. Is it true to both public or private. Here in Spain this isn´t a major issue: Of course we don´t have your Princeton, Yale, Harvard or Columbia... But even so.
We like to say that no talented student goes without the possiblity of going to the best University.

Private schools are more (VERY) expensive - but the good private schools have a lot of scholarship money and they give it out. Many don't look at financial need until they decide if they want to accept the student. Then they help find the money.

I think you learn and teach differently when everyone in the room is very intelligent - which makes it different from a state (public) college where the admissions standards are different. Of course, they have to do the work... Still, I have learned that my learning experience at private universities was different from the experience of friends who went to big public schools.

 

[samclem]

I think you learn and teach differently when everyone in the room is very intelligent - which makes it different from a state (public) college where the admissions standards are different.

Yep, there's no way you can compare the quality of education you'd get surrounded by unintelligent students at slacker public schools likeWilliam and Mary, University of Virginia, UCLA, Penn State and Rutgers with the folks in a small local private college.

Many public schools have higher admission standards than many private schools.

 

[DeborahB]

Yep, there's no way you can compare the quality of education you'd get surrounded by unintelligent students at slacker public schools likeWilliam and Mary, University of Virginia, UCLA, Penn State and Rutgers with the folks in a small local private college.

Many public schools have higher admission standards than many private schools.

Many do - not higher than the schools I went to. Those aren't "slacker public schools" that you mentioned. But there are plenty of large public universities that accept everyone that applies. Quite different from U of Virginia etc. and I've heard from students and teachers about the type of learning experience you get. Generalities always have exceptions - the OP asked a general question and the system IS different here than in Spain.

 

[samclem]

But there are plenty of large public universities that accept everyone that applies.

As do many small private schools--if you can pay, you get in.

Your argument lost a lot of its power when you attempted to distinguish between the classroom environment in public colleges vs private colleges. The classroom environment/instructional approach is much more heavily influenced by the selectivity of the school (public or private) than by how the school is funded.

 

[ksr]

... and glad you found the book helpful.

Bob - I just want to tell you that I read your book a year or two before I left megacorp, and it was really instrumental in my taking the leap. I had planned for years, but your book really got into the nuts and bolts of both the financial and emotional planning, and convinced me that I could do it. The book and this forum were the only places I ever saw discussions about what I wanted to do. Most people in my "real life" commented about how young I was (47) when I left the j*b. But everything has turned out great and I have no regrets. Thanks!

 

[headingout]

I'm still interested in people's real-world experiences. Were you able to find or create the part-time work you wanted after retiring from your main line of work?

Here is my informal count of replies so far:

Stay until fully FI, hard to find part-time work: 4

Go, easy to find agreeable part-time work: 8

Go, you will naturally reduce your expenses: 3

So those who say go early and trust it will work out are in the majority.

P.S. There was some question about my use of the term "safety margin" in the OP. I wasn't speaking of an emergency fund: I have several years in cash and short-term bonds. What I meant was that unexpected long-term expenses could take us above a 4% SWR.

 

[ksr]

I'm still interested in people's real-world experiences. Were you able to find or create the part-time work you wanted after retiring from your main line of work?

I had some pt work lined up before I left megacorp. In fact, it was something I was doing while I was working full-time; I was teaching a class one evening a week, and made arrangements to ramp that up a bit before I left.

I think the ease with which you can find pt work depends on how particular you are. There are plenty of pt j*bs out there, and I think a mature adult who has left full-time employment will often be viewed as an attractive candidate. The question becomes what are you willing to do, and for what price, and is *that* easy to find?

I also have to agree with the comments that it's easy to lower expenses in retirement, at least it has been for me. I was already leading a fairly simple, frugal lifestyle so was surprised at how much some of my expenses have dropped, without really trying.

 

[ScottFromUtah]

If you retire early, collect Social Security, and then work part time, isn't it true that the government penalizes you one dollar for every three you make?

 

[REWahoo]

If you retire early, collect Social Security, and then work part time, isn't it true that the government penalizes you one dollar for every three you make?

From SSA.gov:

If you are younger than full retirement age, $1 in benefits will be deducted for each $2 in earnings you have above the annual limit ($14,160 in 2010).

 

[Moemg]

I'm still interested in people's real-world experiences. Were you able to find or create the part-time work you wanted after retiring from your main line of work?

I am a retired RN so finding part time work is a snap but I decided to go a different path and start selling on ebay . It required a little trial and error to make it successful but now I have a steady stream of customers and I usually clear $1000 a month which goes into my fun money . I could make a lot more but the amount of time I invest (six hours a week ) is perfect for me plus the ability to take off whenever I want and work in my p.j's is a plus .

 

[DeborahB]

I am a retired RN so finding part time work is a snap but I decided to go a different path and start selling on ebay . It required a little trial and error to make it successful but now I have a steady stream of customers and I usually clear $1000 a month which goes into my fun money . I could make a lot more but the amount of time I invest (six hours a week ) is perfect for me plus the ability to take off whenever I want and work in my p.j's is a plus .

Interesting! I've thought of doing that. Where/how do you get the merchandise you sell?

 

[Moemg]

Interesting! I've thought of doing that. Where/how do you get the merchandise you sell?

There are a lot of sources for merchandise . Garage sales ,estate sales , stores , Thrift stores ,wholesalers , Etc.. It depends on what you want to sell . I started selling by just looking around my house and selling items I no longer wanted . I then branched out to my speciality which is basically clothing for thirty somethings and I 'd tell you my source but then I'd have to kill you so I will not reveal it .

 

[DeborahB]

There are a lot of sources for merchandise . Garage sales ,estate sales , stores , Thrift stores ,wholesalers , Etc.. It depends on what you want to sell . I started selling by just looking around my house and selling items I no longer wanted . I then branched out to my speciality which is basically clothing for thirty somethings and I 'd tell you my source but then I'd have to kill you so I will not reveal it .

Ahhhh - yes, I prefer to live !

Thanks, this answers my question. I had planned to try getting rid of stuff I owned and didn't want but wasn't sure where to go after that. Clothing is good because it's light weight (less shipping cost). I buy clothes on ebay myself. NOT a thirty-something, however! Garage sales sound interesting and ooooh I'll have time to do them again.

 

[ksr]

I then branched out to my speciality which is basically clothing for thirty somethings and I 'd tell you my source but then I'd have to kill you so I will not reveal it .

OK, so confessing my complete lack of fashion awareness here, are there somewhat distinct fashions for different age groups? In general, do 30-somethings have their own styles that differ from 20-somethings and 40-somethings?

And BTW, I think working in PJs would be GREAT!

 

[TargaDave]

I'm still interested in people's real-world experiences. Were you able to find or create the part-time work you wanted after retiring from your main line of work?

I'll add another yes and have already told my story on the forum. I did have to create and fine tune my parttime job which is very different from my past career, and it's definitely a work in progress. Also have to keep myself in decent shape to do the job. It's strange but I really like that

On the odd morning I'll ask myself why am I gettin outa bed to do this but when I'm out on the water doin my job I'm absolutely thrilled I didn't decide to sit around the house staring at this stupid computer screen all hours of the day or taking 2 extra naps

ESRBob is one of my hero's and inspiration. Mostly in the life he has decided to lead (as well as the book). I have no ability to sculpt at all but I did learn a couple of new tricks this year!

 

[Dreamer]

I retired in 06/06 and started a part-time job in 03/05/10. I wanted to finish getting my social security quarters, since I paid into the civil service system most of my life. I receive a nice pension (not near as high as some on this board), but I can make do with what I get. There is no way that I could live on my part-time job earnings, if I did not have a pension. I work Mon, Wed and Fridays 8 hours per day and only earn $8.50 per hour. I really enjoy this job, so far. I do not worry about what is left on my desk, since it is normally clear at the end of the day. The people I work with are nice and so are the patients. I finally got up the courage today and asked the office manager how many trips that I could take per year. She had told me in the job interview that they would accomodate my taking trips during the year. She said that 4-5 trips would be okay if I let her know in advance and I took my long trip when the doctor I worked for is on vacation. He is taking vacation starting 6/19/10 and DH and I are boarding a plane 6/19/10 to go see our DD, her DH and our darling granddaughter. We are coming back 7/4/10 and I don't have to be back to work until 7/7/10. So, my job is stress-free, gets me out of the house and among nice people and is helping me to get the rest of my social security credits. My paycheck is not so good, but the money is not why I am doing it. My DH is still employed until the end of this year and then will receive severance pay for 18 months, along with his pension and then will be close to age for early social security. Life is good.

 

[Sue J]

My story is a little different, I found part-time work after being a stay-at-home mom, but the end result is the same.

Four years ago I started working as a School Crossing Guard. I needed 7 more quarters to complete my Social Security credits and I really didn't want to work at anything full time. We were living just fine on DH's salary and benefits so all of my pay went to savings and college expenses for our sons.

I got the 7 quarters within the first 2 years and just stayed with it because I enjoy it. It's 8-9 in the morning and 3-4 in the afternoon. My commute is 3.5 miles round trip, twice a day. My post is a few blocks from an elementary school where the kids have to cross a busy street to get to another neighborhood. I park in a store parking lot and have a good view of kids coming toward the corner and I can stay in my car in bad weather. Pedestrian traffic is light in bad weather and busier in good weather.

I used to listen to the radio but I got tired of commercials so now I load up my iPod with podcasts and learn a little something while I'm there. I enjoy the interaction with the kids and get to chat with parents. Winter can be a little tough but the beautiful spring and fall make up for it.

The pay is only $8/hour but we get paid for our travel time, 15 minutes coming and going so we get 1.5 hours for each shift = $12/shift, twice a day. My commute is more like 5-6 minutes so it feels like $12/hour to me. Not bad for a really simple part-time job. I enjoy the time I'm there and when the hour is over, it's GONE. This type of job doesn't seep over into your life.

We work for the Police Dept and last Dec. they had major cutbacks and said they would be dropping all part-time police dept employees. Somehow our program was saved. I was really worried I'd lose my favorite job!

While I was at my corner I met a teachers aide who also hires and supervises a crew of ushers for a local outdoor concert venue. I told her I was interested and got hired in 2007. This summer is my 4th year. The venue is the summer home of The Cleveland Orchestra so I've worked for plenty of lovely orchestra concerts (including the Joffrey Ballet) and plenty of rock, country, oldies and metal concerts. This Saturday is Garrison Keilor doing Prarie Home Companion live for NPR.

Ushers only make minimum wage but I've met some great people on the usher crew. Many retirees, teachers, city workers, college students, all ages, all levels of education. Nice group of people. The concert venue is only open in the summer so the rest of the year some of this crew also works for a local state university for basketball games, football and track and field events. Last Saturday was Alcoholics Anonymous Founders Day and it's held at this university. This is the 3rd year I've worked for the Founders Day main event where they hold a meeting for over 10,000 at the stadium and have a speaker. Excellent event and something I'd never get to see if I wasn't an usher.

In 2008 I started taking tax prep classes with H&R Block. I worked tax season in 2009 and 2010. I love the classes and the work is very interesting. The pay is absolutely awful, considering the training and responsibility we have. But I like the work and being able to pick my own days and hours. I'll take classes again this fall and work the next tax season, basically 3 evenings/week and one day on the weekend.

DH lost his job in Jan, 2010 and is officially retired with a pension as of 6/1/10. I'm going to keep my assortment of part-time/seasonal jobs. I like the little bit of income and none of them interefere too much with the rest of my life.

 

[allen76]

My situation was very similar to OP. I retired from megacorp at 55. I turned in my retirement papers in late 2006, not so much that I was ready to retire (financially, emotionally and professionally), but my megacorp was in Chap 11 and I thought the Pension Protection Act was going to have to an impact on my ability to take a lump sum pension (it did - 18 months after I left lump sums were halted).

My expertise is rather scarce in my geographical area and I started contract work the day after I left megacorp and have been working off and on via contract for the last 3.5 years. It was quite a comfort during the financial turbulence of the last couple of years.

If your expertise is in demand, and you want to try part time retirement (or part time work if you prefer), do not wait too long to re-enter. I have seen colleagues be totally retired for 5 years and then try to re-enter as contractors without much success as my industry has passed them by and their knowledge is no longer current and they no longer have access to the current decision makers.

As for me, I still feel challenged and enjoy my field; especially working with young people and teaching the intricacies of my field. I am going on 60 and feel 30; at least after I wake up in the morning and make sure I don't have grass growing on my face.

Good luck.