W@rking After FI

[CoolRich59]

We recently reached FI dance but I'm not quite ready to fully RE.

A couple of years ago, I left my megacorp and have been w@rking as a consultant. I have told my firm that my plan now is to w@rk part-time for the next 1 - 2 years.

I'm figuring that I'll put in 20-30 hours a week which should be enough for us to cover our expenses and postpone withdrawing any retirement funds. In that regard, I was presuming I'd take two weekdays off and w@rk a full day the other three.

Curiously, my daughter-in-law is telling me what a big mistake she thinks that would be. She is of the opinion that I should still w@rk 1/2 days Mon-Fri. She thinks if I'm off for four days, it'll be all that much harder to show up for the other three w@rk days.

I don't know what she bases this on, but I thought I would ask folks here.

All insights, thoughts or experiences welcome!

 

[Helen]

I think it would be a waste to work 1/2 days Mon - Fri. There is a bit of effort to get up, shower, get dressed and commute. Plus, I would get focused on a task and it would be time to leave. I wouldn't want to do it.

 

[joeea]

A few months after I retired, I was called by my former employer and asked if I could help them out. They had some important projects to get done.

I agreed to consult on Mondays and Tuesdays.

For me, it worked out really well! I enjoyed being around my coworkers. But I particularly enjoyed no longer having to be involved in office politics, endless meetings, meaningless administrivia, ridiculous metrics, etc, etc. I just showed up, worked for 8 hours, and went home. It was a really different work style than my pre-retirement job. Far less stress.

I did that for a year or so, until their project ended. Then the consulting dried up.

If they called again, I'd go back on the same terms. I'm not sure I would do the same for a company that I wasn't already friendly with, although I'd consider it.

I think part-time consulting is a great way to transition from full-time work to full-time retirement. And if you need the money, it makes even more sense (In my case I didn't do it for the money - I did it for the enjoyment. If I wasn't enjoying the work, I would have stopped.)

I think your daughter-in-law is wrong. I wouldn't ever want to work 1/2 days. If I'm going to make the effort to go to the office, I'd want to work the entire day. At least for me, being off for 5 days didn't make it hard at all to show up for 2 days.

 

[CoolRich59]

Thank you both for your replies.

It remains to be seen how this would shake out -- it would be with a new client and so what their requirements and preferences are remain to be seen. But, I agree with your thinking. If I'm going to do this, I would much prefer to get up, get ready and w@rk a full day three days a week rather than get up, get ready and put in half a day five days a week.

 

[street]

IMO if you can FIRE I would do it. I do a PT thing that consists of 90 days a year and that is all I can work so I'm not totally retired either but I consider myself retired because the PT job I do is for staying in shape and it is outside work.

I have done it two years now and I'm not going to do it again. The more time I spend in retirement the more things I have done and now that work is getting in my way.

It is a big decision but if you can retire, retire to something and you will find your way.

 

[Red Badger]

I think it would be a waste to work 1/2 days Mon - Fri. There is a bit of effort to get up, shower, get dressed and commute. Plus, I would get focused on a task and it would be time to leave. I wouldn't want to do it.

+1.

A day off is a day off. A half-day of work is a w@rk day.

 

[Curmudgeon]

Every day you work is a ruined day . Why ruin 5 days a week if you can choose to only ruin 3? I'd definitely work as few days possible, as many hours as necessary on those days.

 

[CoolRich59]

Thanks again everyone. Our thinking is aligned.

Every day you work is a ruined day . Why ruin 5 days a week if you can choose to only ruin 3? I'd definitely work as few days possible, as many hours as necessary on those days.

Definitely. I could even see putting in two 15-hour days if it meant being off the next five.

 

[unclemick]

+1.

A day off is a day off. A half-day of work is a w@rk day.

Ditto.

heh heh heh - I actually worked days with lots of overtime for several months at a stretch when going back for two times as a 'jobshopper' aka contract engineer. Once a year 1 1/2 after ER and then for 6 months after a further space of 8 months as I recall.

 

[SheitlQueen]

I think it would be a waste to work 1/2 days Mon - Fri. There is a bit of effort to get up, shower, get dressed and commute.

I agree with this....plus if you have four days off in a row you can plan short trips and events.

 

[38Chevy454]

I did exactly like you propose, switching to part-time before fully retiring. I switched to 3 days/week, which was generally Tues-Wed-Thurs, full days. Occasionally i would make Mon one of my workdays and would then take Thurs off. Resulted in 4 day weekends for most weeks. When I got closer to retirement, I actually cranked up to 4 days/week for a bit. The part-time worked out great for me, and as you said, I was able to meet my normal living expenses on that 60% level. Just did not save as much, but it did enable the savings to grow for another year without any withdrawals.

Don't do half days, either you go to work and are there for the whole day, or you are out of the office.

 

[DrRoy]

I think it would be a waste to work 1/2 days Mon - Fri. There is a bit of effort to get up, shower, get dressed and commute. Plus, I would get focused on a task and it would be time to leave. I wouldn't want to do it.

+1. For me, having the complete days off would be better. Facing the work days would be easier if there are fewer of them, and I think the extra hours those days would pass quickly anyway if you are busy.

 

[madsquopper]

Spouse and I (661 and 64) are FI but are still working part time, at least for now. 2018 might end up being the end of the line. I started ramping down 10 years ago, went to 4 days and am now at 3 eight hour days (Tue, Wed, Thu). Job itself is fine - low stress, private office, great pay, fairly interesting, and I'm well liked by everyone in the office and the customers I deal with. Basically, I'll stop when I feel that even part time starts negatively affecting what I want to be doing with my life. Up to this point it hasn't, but I'm getting a bit edgy and next spring when the weather warms up it might push me over the limit. We'll see.

Larry

 

[REWahoo]

Spouse and I (661 and 64)...

Talk about your May/December weddings....

 

[nuisance]

It's interesting to read people's opinions. Living against the grain, I'm FI but consult 15 hours a week, 3 hours/day. I work from home though, so commuting isn't an issue. I do sometimes feel that any day working is wasted, but I'm also always happy to get my day started once I'm done with the daily work. Partly working to finish a project, but I sure enjoy the extra spending money that comes with it.

 

[Bir48die]

Worked Tues/Thurs and Friday a.m. for six months. Got 1/2 a da*m good salary and full benefits. Included was a $15k bonus. They let me have two weeks in the winter to go south.

However it was a set schedule. No flexibility. Said no to Spring Chinook fishing and Fall golfing as buddies were calling me to join them on work days.

My boss called me in four months into it and asked me how I liked the new program. Looked at him and said thanks but here's my 45 day notice. Haven't looked back.

 

[Koogie]

We are FI and I have been working part time for a little over two years. Love it.

Currently work three days a week (W-F) and agree that half days are pretty useless. Hard to get the work done in 4 hours, so the half days tend to stretch. On those days when I do leave on time from a half day, you don't get a lot done at home either or relax like you would on a full day.

Stick to your guns. Work as little as possible !

 

[Midpack]

I think it would be a waste to work 1/2 days Mon - Fri. There is a bit of effort to get up, shower, get dressed and commute. Plus, I would get focused on a task and it would be time to leave. I wouldn't want to do it.

+8. I’d (politely) disagree with the DIL for the reason given above. 5 half days and a weekend doesn't begin to equal 4 full days IMO. If nothing else I’d rather commute 3 days/week than 5 - no brainer, especially where you and I are when snow and ice is a factor.

 

[Silvery Moon]

Totally disagree with sweet kind loving super-responsible DIL. Work / commute a few days a week per what your client would like and what works for you. Oh, and consider setting up an LLC for your "consulting firm" which might enable to capture that new pass-thru tax deduction for 20% of your income. Oh, and charge them the highest rate you can possibly get. Your time is limited and incredibly valuable.

 

[CoolRich59]

Thanks everyone. Love my daughter-in-law; she is so much like the DW that it can be eerie. (I tell my son how amazing it is that, with 7 billion people on this planet, he found the reincarnation of his Mom and married her )

Oh, and charge them the highest rate you can possibly get. Your time is limited and incredibly valuable.

Absolutely. I feel bad for one of my colleagues who, due to some bad breaks, is broke and feels he has to accept whatever client comes along and fee they're willing to pay. In my case, my rate is non-negotiable and if I don't like the client or the engagement, I'm willing to say "no thanks".

 

[Teacher Terry]

I teach an online class the past 5 years since retiring. I do it from wherever I am so it really works for me. I am 63 and don't plan on quitting. I check my messages daily even though I don't have too. I like to be responsive to the students. I would definitely work full days and less of them for all the other reasons people have stated.

 

[Clone]

Going in to the office for half days would be keeping all of the overhead expenses while only getting half the money. No thank you!

Back at MegaCorp we had a boss who used to work incredible amounts of hours. We used to joke that if he only worked 8 hours one day he would be required to record that as a half day of vacation!

 

[Al in Ohio]

I did exactly what you are planning except I worked at home as a PT consultant after I told them I wanted to RE. Even so, I worked 3 days a week max. For your mental well being you will find having two “unblemished” day’s off is far too valuable not to do. Plus as others have stated, the savings on gas etc by not commuting at all for 40% of the workweek year is another bonus.