Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
So depressing......
Old 02-27-2006, 10:04 PM   #1
Recycles dryer sheets
 
Join Date: Jan 2006
Posts: 309
So depressing......

Today I figured out how much time I spend at work during my waking hours:

Assume on average a 10 hour workday (this includes my time travelling to work) for 225 days per year calculated as 12 months X 21 days a month - 27 days for vacation and stat holidays = 2250 hours per year.

Waking hours are 16 hours X 365 days = 5840 hrs

Percentage of time at work = 39%

uggghhhhhhh
__________________

__________________
accountingsucks is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: So depressing......
Old 02-27-2006, 10:16 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: So depressing......

You remember that old joke "doctor it hurts when I do -this-" (wag your arm funny)

"Then stop doing that!".

So...STOP DOING THAT!
__________________

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: So depressing......
Old 02-27-2006, 10:42 PM   #3
Recycles dryer sheets
 
Join Date: Jan 2006
Posts: 309
Re: So depressing......

Quote:
Originally Posted by Jennifer 8
You remember that old joke "doctor it hurts when I do -this-" (wag your arm funny)

"Then stop doing that!".

So...STOP DOING THAT!
Nice to say in theory but it's not really possible if I want to meet my goal of retiring before 50 (I am 30 now). Also I think these numbers are average for anyone working nowadays.
__________________
accountingsucks is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 12:06 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
Re: So depressing......

Quote:
Originally Posted by accountingsucks
Nice to say in theory but it's not really possible if I want to meet my goal of retiring before 50 (I am 30 now).* Also I think these numbers are average for anyone working nowadays.*
Good point, and I think I have seen it discussed before. Do you work for X number years at a good paying job you don't like to get ER or as an alternative find work you enjoy that may not pay as well. My wife is a teacher and is really not all that interested in things financial. She is willing to live simply and expected to teach to a very old age. She is retiring in June at 58 courtesy of a fully employed husband. But she will probably "work" just as hard in volunteer teaching jobs.
I'm somewhere in between. I don't love my job but I do like it. And it doesn't pay great (Fed govt) but it pays OK. So I have made a decision I am satisfied with.
But I would find it very hard to work for very long in a job I really disliked even if it paid very well.
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is online now   Reply With Quote
Re: So depressing......
Old 02-28-2006, 07:55 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: So depressing......

Perhaps. In most of the cases I've seen of overwork, the driver was the employee who felt that they were the only ones who could do the work, or that they'd lose their job if they didnt do twice the work for half the money.

Someone else can do it. And if you have to work 40% of your life in exchange for a 40 hour salary, perhaps a new job isnt that bad of an idea...

But if you're convinced this is the best and fastest way to your objectives, good luck!
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 08:24 AM   #6
Thinks s/he gets paid by the post
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,803
Re: So depressing......

4 years ago I was working 12-14 hour days at work...not counting 45 minute commute each way and an additional 2-3 hours a night working at home. Add in a few Saturdays and enough stress to kill a person and you have a toxic and potentially fatal situation. I made my choice. Instead of sticking it out to age 55 I got out on a special early retirement at 50.

If I were still there I would be dead. I am working in a similar field but in a different city, state and company. My next ER is July 31, 2007 of sooner depending on how I feel about w*rk in a given day. I paid a high price to get to FI by age 50 starting deep in a well of debt only 10 years before I had my life-changing epiphany.

Sure you have to save for FIRE but as CFB said, you don't have to kill yourself getting there. If you can find a less stressful job even if it pays less (like I did) you may have to w*rk a little longer but you will surely live longer and be happier while you are working. I used to think I had to stick it out to get the best pension I could expect by working until 55. The problem was the caustic environment and the high expectation for lots of hours with very little additional incentive (no more $$$) for doing so.

You can do both, you can still save for ER and be happier in your job. It is not an either-or situation. Sure I make less that I did before by over 20% but my work life is so much less stressful most of the time. It was worth it for me.
__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 10:22 AM   #7
Recycles dryer sheets
 
Join Date: Oct 2005
Posts: 443
Re: So depressing......

my philosophy is simple.

those who work until they drop are "crazy and stupid".

back in the old country, seems like everyone retired at 50. how and why? live a simple live, u can almost live only 30-50% of your income if materials stuffs is unimportant to you.

enuff

my 2 cents
__________________
Enuff2Eat is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 10:44 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,435
Re: So depressing......

Quote:
Originally Posted by accountingsucks
Today I figured out how much time I spend at work during my waking hours:

Assume on average a 10 hour workday* (this includes my time travelling to work) for 225 days per year calculated as 12 months X 21 days* a month - 27 days for vacation and stat holidays = 2250 hours per year.*

Waking hours are 16 hours X 365 days = 5840 hrs

Percentage of time at work = 39%

uggghhhhhhh
I agree with your name. Accounting sucks.*
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 11:26 AM   #9
 
Posts: n/a
Re: So depressing......

I agreed with Ronald Reagan on very few things.

One of which, when he said:


Hard work never killed anybody, but why take the chance.


__________________
  Reply With Quote
Re: So depressing......
Old 02-28-2006, 11:55 AM   #10
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: So depressing......

Funny, it's all a matter of perstpective, I was thinking just yesterday that starting next year I get 5 weeks off from work, and adding that to weekends (104 days + 25 days) gives me a third of the year off! I'm almost semi-retired now!

I agree with others, find a job you like, even if it extends the re date a couple years. I can't imagine working something that held no interest to me.
__________________
laurence is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 07:34 PM   #11
Dryer sheet wannabe
 
Join Date: Jan 2006
Posts: 22
Re: So depressing......

Feel very lucky. If you were born in Asia you would be working much harder.

I just vacationed in Thailand and would see girls (like 12-14) working stands (selling fruits/comics/gum, etc). They would be there at 6am and when I was going back to my hotel at 11pm, day after day after day - standing - they never sat down. On Sundays they cut out early at 5pm. Not sure how long after11pm they were there. I did not want to know and wanted to forget but your 39% ugg post brought that memory back.

39% is not that bad.
__________________
Wizard is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 08:51 PM   #12
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Re: So depressing......

Quote:
Originally Posted by DOG51
I agree with your name. Accounting sucks.
That's how I felt about my first accounting class on the onset of my MBA program.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 08:57 PM   #13
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Re: So depressing......

Quote:
Originally Posted by SteveR
....Sure I make less that I did before by over 20% but my work life is so much less stressful most of the time. It was worth it for me.
Steve,

You might be making more now if you included the extra hours and weekends for the previous job.

Spanky
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Re: So depressing......
Old 02-28-2006, 08:58 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Ed_The_Gypsy's Avatar
 
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,293
Re: So depressing......

"Hard work never killed anybody, but it is illegal in some places."

http://www.despair.com/effort.html

Before you look, what city do you think is on the poster?

Ed The Troll
__________________
my bumpersticker:
"I am not in a hurry.
I am retired.
And I don't care how big your truck is."
Ed_The_Gypsy is offline   Reply With Quote
Re: So depressing......
Old 03-01-2006, 08:42 AM   #15
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Re: So depressing......

I've done that same calculation in explaining to starry-eyed, newly-minted lawyers who never seem to get it. They see the $125k+ salary they're going to get, without taking into account the number of hours required to get it. In the end, they're actually making about $45 an hour. Those who worked before going to law school see that number and realize they were making more per hour in their prior careers. At that point, they look very depressed.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Re: So depressing......
Old 03-01-2006, 12:52 PM   #16
Thinks s/he gets paid by the post
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,803
Re: So depressing......

Quote:
Originally Posted by Spanky
Steve,

You might be making more now if you included the extra hours and weekends for the previous job.

Spanky
I would agree that my hourly rate has gone up.

But real income has sadly gone down.

Since I have no way to modify my income to my hours worked (paid extra hours) it does not matter how many hours it takes to do the job. The pay is the same.

The benefit is obvously in the quantity of my personal life hours that are now mine and not the company's.
__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Re: So depressing......
Old 03-01-2006, 03:13 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,971
Re: So depressing......

Quote:
Originally Posted by Jay_Gatsby
I've done that same calculation in explaining to starry-eyed, newly-minted lawyers who never seem to get it.* They see the $125k+ salary they're going to get, without taking into account the number of hours required to get it.* In the end, they're actually making about $45 an hour.* Those who worked before going to law school see that number and realize they were making more per hour in their prior careers.* At that point, they look very depressed.*
Depressed about $45 an hour? That's 3 times more than I make. I work 37% of my life and i'm not sitting in front of a computer, I'm actually working. I'm standing on cement wearing steel-toed work boots in a factory for 12 hrs/day for 40k/yr. Only 30 years left :
__________________
aaronc879 is online now   Reply With Quote
Re: So depressing......
Old 03-01-2006, 03:23 PM   #18
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Re: So depressing......

Quote:
Originally Posted by aaronc879
Depressed about $45 an hour? That's 3 times more than I make. I work 37% of my life and i'm not sitting in front of a computer, I'm actually working. I'm standing on cement wearing steel-toed work boots in a factory for 12 hrs/day for 40k/yr. Only 30 years left* *:
My hat's off to the blue collar working man.

On the other hand, the folks I've spoken with are older law students (e.g., 30-35 years old) who borrowed $100k+ to get their law degrees. One would think that after 4 years of college, 3 years of law school, a prior career, and the maturity from a little life experience, that they'd be worth more than $45/hr. The firm bills them out at $250/hr and they see less than 20% of that at the end of the day.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Re: So depressing......
Old 03-01-2006, 04:24 PM   #19
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
Re: So depressing......

For a 40 hr week, which I'll bet they are billing more, that is $93,600 a year plus benifits. Not bat for a 30 year old! My guess the remaining $205 an hour goes for such things as rent, employees, advertising, political contributions and yes a health cut to the senior partners who built the law firm and take the majority of the financial risk.
__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Re: So depressing......
Old 03-01-2006, 04:37 PM   #20
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Re: So depressing......

Quote:
Originally Posted by Rustic23
For a 40 hr week, which I'll bet they are billing more, that is $93,600 a year plus benifits. Not bat for a 30 year old! My guess the remaining $205 an hour goes for such things as rent, employees, advertising, political contributions and yes a health cut to the senior partners who built the law firm and take the majority of the financial risk.
It's a very healthy cut. The usual rule of thumb is 1/3 -- 1/3 -- 1/3. That is, 1/3 to the associate, 1/3 to overhead, and the remaining 1/3 to the partners as profit. However, $45 doesn't quite equal 1/3 of $250 (that would actually be almost double, namely, $83/hr). The $45/hr figure takes into account that roughly 75%-80% of a young lawyer's time is billable, with the rest written off as either non-collectible or non-billable (even then the share to the associate should be $66/hr).

As for $93k/yr being not bad for a 30-year old, you're right. But add in the average law school graduate's debt of $85k (which works out to $775/month for 15 years), along with the costs of supporting a family, mortgage, cars, etc... and it's not as nice a salary as you might think.
__________________

__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
A Most Depressing Conversation JWV Other topics 36 05-07-2006 10:03 AM

 

 
All times are GMT -6. The time now is 10:58 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.