4-Day Work Week?
- Thread starter Timeisright
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googily
Full time employment: Posting here.
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I have worked from home two days a week for 15 years, and it's probably the single most important reason I've stayed with my company as long as I have.
But now that I am FI (at 51), and trying to decide how to not end up in OMY Land, I look at my work situation and realize that what I really want is more flexibility, to cut back the hours that I appear in the office on non-telecommuting days, as well as additional time off and the ability to work a couple of weeks each summer from a truly remote location for, say, 10 working days in a row.
There are some portions of my job that require my being at the office--so I am trying to decide if I should propose cutting back to part-time, getting rid of the stuff that forces me to actually put in an appearance. I think it is a situation that will require a lot of negotiating and open minds on both sides, but they are aware of my changed circumstances (new widow) and they would be in a bind if I bolted completely. I am looking to bring it up this fall, and so am spending these weeks ruminating on exactly what it is I want.
But now that I am FI (at 51), and trying to decide how to not end up in OMY Land, I look at my work situation and realize that what I really want is more flexibility, to cut back the hours that I appear in the office on non-telecommuting days, as well as additional time off and the ability to work a couple of weeks each summer from a truly remote location for, say, 10 working days in a row.
There are some portions of my job that require my being at the office--so I am trying to decide if I should propose cutting back to part-time, getting rid of the stuff that forces me to actually put in an appearance. I think it is a situation that will require a lot of negotiating and open minds on both sides, but they are aware of my changed circumstances (new widow) and they would be in a bind if I bolted completely. I am looking to bring it up this fall, and so am spending these weeks ruminating on exactly what it is I want.
Sojourner
Thinks s/he gets paid by the post
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Yes, I did that with my last full-time employer after I had downshifted to 3 days/week for one year. I knew I was FI and would be fine regardless of what happened, so I was negotiating from a position of strength and confidence. Also, I knew my employer was keenly aware of my value to the company and would want to keep me somewhat "in the fold" and available to step in and help with things from time to time. So when I had had enough of the 3 day/week routine and wanted to really step back, I negotiated a 1099 consulting role for myself where I would be paid hourly for any work going forward. This has worked out incredibly well for me. In the first year, I was doing maybe 20-30 hours per month, but now, several years later, it's dropped down to less than 5 hours per month on average. I'm not sure I could have architected a smoother or more gradual easing into ER than what actually has happened.
So, based on my experience, I would say definitely try to work out a consulting arrangement once the time is right. If done properly, it will give you a little stream of money coming in, and will disconnect you almost completely from all the office politics and other negative aspects of cubicle life.
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Red Badger
Thinks s/he gets paid by the post
Good luck!
Once you finalize exactly what you want, compose an offer that is more favorable to you and open with that offer. Then, you have some "concessions" once the heavy breathing commences.
Ways To Build Wealth
Confused about dryer sheets
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France actually passed a law making it illegal to email employees after work hours. I agree
IBWino
Recycles dryer sheets
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Thanks for this extremely timely and informative thread; lots of good advice. I'm meeting with upper management and HR next week to discuss reducing my work week down to three days. During preliminary discussions, they have been receptive to the idea, indicating that I will take a 40% reduction in salary, but retain full benefits.
My wife and I are both 56 and have been contemplating full retirement for the past couple of years. FIRECalc says we're good to go at a 3% withdrawal rate, and we have room to adjust if necessary. The main issues have been the uncertainty regarding health care, and figuring out what to do with all of the extra time. I'm hoping the reduced work week will let us ease into a retirement mode, while also giving us time for the ACA/health insurance situation to be sorted out.
Regards,
Wino
My wife and I are both 56 and have been contemplating full retirement for the past couple of years. FIRECalc says we're good to go at a 3% withdrawal rate, and we have room to adjust if necessary. The main issues have been the uncertainty regarding health care, and figuring out what to do with all of the extra time. I'm hoping the reduced work week will let us ease into a retirement mode, while also giving us time for the ACA/health insurance situation to be sorted out.
Regards,
Wino
Big_Hitter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
that's nice to keep full benefits at only 3 days a week
we have to regularly w*rk at least 30 a week to get health insurance
IBWino
Recycles dryer sheets
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Yeah, I was surprised at that myself. I've been at this company almost 30 years and I always thought that 30 hours/week was necessary to receive benefits.
The other nice thing is that I predominately work from a home office. I've been doing that for the past 16 years, and I'm fortunate to be one of only a few employees that have been allowed to do that.
-Wino
scrabbler1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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After working full-time for 16 years, I worked part-time for the next 7 years before I retired in late 2008.
I had 3 different part-time arrangements in those 7 years. First, I worked for 20 hours a week and it included mostly telecommuting. I had to go to the office 1 day a week and worked the remaining ~13.5 hours from home. Some of those hours were designated hours during the regular workday so my coworkers knew where to find me. I could access the mainframe system to run my programs and access my office email. There were some office computer systems I couldn't access, though. I kept my health insurance but had to pay 50% of the premiums instead of 25%. My paid time off was prorated. This worked well for the 27 months I had this deal.
But after 27 months, the telecommuting part of this was unexpectedly ended in late 2003. I could keep the part-time hours but had to fulfill them at the office. I knew at the time that this would be my eventual undoing. I went to the office 3 days a week although I could choose the 3 days and it varied some as I desired. I did let them know every month what my 3 days each week were. If company holidays fell on my "usual" 3 days, I got paid for them. Otherwise, I did not.
I grew tired and weary of this and in early 2007 I asked for and was granted another reduction in my weekly hours worked from 20 to 12. This eliminated one day going to the office via the awful and despised commute. It also trimmed one hour of the 2 days I went to work, getting me home an hour earlier. I agreed to access my office email on my days off and spent a minimal amount of time responding to them, but did not run any programs (I couldn't do it any more, anyway). I lost eligibility to my health insurance, going on COBRA for the next 18 months. I lost accruing any more paid time off and earning any more shares in my company's stock ownership program. This worked okay for about a year until I put together my ER plan and retired at the end of 2008.
I had 3 different part-time arrangements in those 7 years. First, I worked for 20 hours a week and it included mostly telecommuting. I had to go to the office 1 day a week and worked the remaining ~13.5 hours from home. Some of those hours were designated hours during the regular workday so my coworkers knew where to find me. I could access the mainframe system to run my programs and access my office email. There were some office computer systems I couldn't access, though. I kept my health insurance but had to pay 50% of the premiums instead of 25%. My paid time off was prorated. This worked well for the 27 months I had this deal.
But after 27 months, the telecommuting part of this was unexpectedly ended in late 2003. I could keep the part-time hours but had to fulfill them at the office. I knew at the time that this would be my eventual undoing. I went to the office 3 days a week although I could choose the 3 days and it varied some as I desired. I did let them know every month what my 3 days each week were. If company holidays fell on my "usual" 3 days, I got paid for them. Otherwise, I did not.
I grew tired and weary of this and in early 2007 I asked for and was granted another reduction in my weekly hours worked from 20 to 12. This eliminated one day going to the office via the awful and despised commute. It also trimmed one hour of the 2 days I went to work, getting me home an hour earlier. I agreed to access my office email on my days off and spent a minimal amount of time responding to them, but did not run any programs (I couldn't do it any more, anyway). I lost eligibility to my health insurance, going on COBRA for the next 18 months. I lost accruing any more paid time off and earning any more shares in my company's stock ownership program. This worked okay for about a year until I put together my ER plan and retired at the end of 2008.
