Regrets

[shortstop14]

I was offered some software development contract work with my old organization after I retired. But after a few months away from project schedules and deadlines for the first time in decades, I really just couldn't get motivated to get back into it. I was also suspicious that I'd end up being expected to do full time work for part time pay and no benefits, which wasn't exactly appealing.

I wouldn't mind having an alternate income stream to reduce my withdrawal rate on the retirement portfolio a little (mitigating sequence of return risk a bit as I bridge to SS) - but so far not enough to actually work to make that happen.

 

[scrabbler1]

This question is for those that have already retired. Did anyone regret not going part time after your could RE?

I will be in a position to retire next March. I'm thinking of asking my employer if I can go to half time.

I already work from home. The type of work I do would appropriate for this. I am a software developer.

Thoughts?

Thanks!

After working FT for 16 years, I had become so badly burnt out that switching to PT was the only way I could keep working. I had already lowered my expenses a lot a few years before when I paid off the mortgage, so working for just over half my FT pay was not a problem.

But in the next 7 years, I got burnt out again and the only solution was to fully retire (at 45, 7 years ago). Working as little as 12 hours a week in the last 17 months of those 7 PT years was 12 hours too many. I was reaching my ER goal and had become FI by then, so I simply stopped working and never regretted that or the way I arrived at my cherished ER.

 

[traineeinvestor]

I moved to a very part time consultancy when I FIRE'd almost two years ago. It's worked well for me - very flexible hours, work commitments and I'm mostly working with people I like doing stuff I find interesting. There's no stress and I enjoy being somewhat engaged.

The original motivation of being a little but anxious about going cold turkey (loss of relevance, loss of income stream etc) has long gone away, but I'm enjoying it and it doesn't interfere with anything else I want to do. If that changes, it goes of course.

 

[Daniel J]

Timely thread. I just finished my 2nd OMY and am transitioning into retirement gradually at age 52.

I had plans to try and sell my retail computer repair business this year but when my long term employee left in the Spring that plan fell apart once I realized I didn't have it in me anymore to ramp up and train folks, etc. to get the business in a position to sell.

I've been flying solo for a few months. It has been mostly unmanageable and very stressful as the shop is busy all the time. A few weeks ago I reduced my office space by 2/3 and am now turning away all of the undesirable work that comes my way. I am focussing on only doing the work I want to do and I am getting close to reducing my hours significantly. Just a few weeks in under the new regime but it is going very well so far!

Thanks for the support everyone.

 

[FreeBear]

Well, DW and I left mini-Megacorps, then w*rked part-time to remodel our second house and sell it. I liked "being my own boss" in that I could set the hours and I found much of the actual work interesting and challenging. Still I was very stressed due the the heavy outpouring of ca$h, dealing with the local building inspectors, etc. It was the same crap I was trying to escape by ER'ing! The day we sold the house was one of the best days of my life, the real start of our ER.

So, part time is better than full time, as long as the hours, not just the pay is part time. Yet, full retirement is better than anything else, at least for us.

 

[Spudd]

I quit megacorp at age 42. We moved to a new town and DH kept working pretty much full time. I was bored, and I felt like our retirement plan had some risk to it so I got a part time job to make a few bucks giving out samples at the local Walmart (not a Walmart employee). I haven't even had my first shift yet and I'm already kind of regretting having done it! We'll see how it goes. I've decided I'll give it a couple of months to be fair, and if I hate it then I'll quit after those couple of months. We don't have travel plans until next year, so maybe I'll at least work till the end of this year.

 

[sunsnow]

Then do it. Assuming you are going to retire anyway, what do you have to lose?

+1

This might be your only opportunity to get a part time position, so why not try and see what happens. If you don't like it, quit.

My job was such that part time work would have just been part time pay for full time work, but if yours is different, then maybe it will work for you. Depends also on how your co-workers respond to your new status.

 

[MRG]

This question is for those that have already retired. Did anyone regret not going part time after your could RE?

I will be in a position to retire next March. I'm thinking of asking my employer if I can go to half time.

I already work from home. The type of work I do would appropriate for this. I am a software developer.

Thoughts?

Thanks!

My VP offered to do a part time gig, I turned it down. I was IT, systems work(bad choice), when the stuff hit the fan it was all hands on deck. I couldn't see myself being able to let go of a critical issue so it didn't make sense to me.

No regrets on calling in FIREd!

 

[Sarah in SC]

My DH quit two years ago and has picked up odd jobs on and off to keep occupied and raise money for his various adventures. It keeps him busy while I'm still working, but doesn't interfere with travel and leisure plans too much.

He does IT work, network installs, and random handyman type stuff, plus a few bigger projects for a friend with a brewery in town.

He's not really the type to just hang out, he has to have goals. But he's thrilled not to ever have to go back to the BS of his former workplace. He's a lot happier with his current setup.

 

[GreenER]

IMHO when you jump in the water, you don't partly swim. It's more fun to really splash around.

Retirement really can be much better than what you did before. Why do it halfway?[/QUOTE]


Well said! This is exactly what I was thinking!

 

[Bir48die]

Tomorrow I start my P/T job. It's half the salary with all the benefits. I did take three weeks off to relax. I made sure I let them know that this was only a support position and imparting my wisdom daily to help others settle into their new positions. Though I work for a large company it is privately held and is not a pressure cooker. Very family oriented.

I did this for a couple of reasons: It will test if we can survive off of my P/T salary and DW's pension. Also with market struggle it gives me some comfort in hoping for a 16 month rebound.

I don't see going past end of 2016 and wife will take SS at 63. We have such good benefits and I keep my office. Only thing I see that will mess this up is if I am constantly turning down fun opportunities on my work days.

 

[InTheSticks]

Tomorrow I start my P/T job. It's half the salary with all the benefits. I did take three weeks off to relax. I made sure I let them know that this was only a support position and imparting my wisdom daily to help others settle into their new positions. Though I work for a large company it is privately held and is not a pressure cooker. Very family oriented.

I did this for a couple of reasons: It will test if we can survive off of my P/T salary and DW's pension. Also with market struggle it gives me some comfort in hoping for a 16 month rebound.

I don't see going past end of 2016 and wife will take SS at 63. We have such good benefits and I keep my office. Only thing I see that will mess this up is if I am constantly turning down fun opportunities on my work days.

How many days or hours per week are you working?

 

[Markola]

If someone hasn't mentioned it yet, the OP might want to read the book "Work Less, Live More" by Robert Clyatt. He features a lot of people who go part time before full stop and seem happy with it. My dad is a mechanical engineer and loves the creativity and problem solving involved in designing new machines. He went part time in his 60s but said he missed being fully engaged, so now he's back to full time+ w*rk at age 75, but that's a whole different problem that his son will never have.



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[YeahNo]

I went full stop and now almost 2 years later I wouldn't mind a non-managerial fun role somewhere for a few hours a week.

 

[InTheSticks]

If someone hasn't mentioned it yet, the OP might want to read the book "Work Less, Live More" by Robert Clyatt. He features a lot of people who go part time before full stop and seem happy with it. My dad is a mechanical engineer and loves the creativity and problem solving involved in designing new machines. He went part time in his 60s but said he missed being fully engaged, so now he's back to full time+ w*rk at age 75, but that's a whole different problem that his son will never have.

I'll take a look for the book.

 

[Bir48die]

So I'm in my first week of P/T. So far here are my observations:

1) The two best days this week were the ones I didn't work.

2) It's weird to sleep in one day and get up early the next.

3) It was great having Monday off, working Tuesday then having a day off again.

4) My boss is gone all week so I don't really care if I accomplish anything. Been reading ER blogs today

I got my first P/T check (did vacation) and found out I got a car allowance that wasn't expected so another $500/mth in my pocket.

So far so good (or bad)

 

[stepford]

The only problem with part time is what I call "renormalization". I went down to working 3 days a week at age 50 and it was great for a few months. Then I adapted to it and started to find the 3 days I worked to be just as enervating as the 5 I had worked previously.

The advantage for me is that P/T allowed me to survive work long enough to make it to 55, a small pension and finish with work entirely, not that it magically made work fun again.
YMMV.

 

[pullmyfinger]

Then do it. Assuming you are going to retire anyway, what do you have to lose?

This would be my recommendation. But then I am a worrywart. If the job isn't toxic why not? Not all of us transition so smoothly to ER. If you don't like it you can move on and not second guess yourself.

 

[Live And Learn]

So I'm in my first week of P/T....

So far so good (or bad)

Enjoy it. To me working 3 days a week was best of both worlds.

 

[InTheSticks]

Great feedback. I am looking for flexibility on when I work and that should not be a problem. Now, I just need to see if I can make it happen next spring.

 

[RobLJ]

I'm working part-time remotely for the last two months since I semi-FIRED, and it's great. I can schedule my own time, but usually work in the mornings.
If you're considering it, try it, and if it doesn't "work" for you, go Full Monty. I wouldn't listen too much to the full-timers on the board; there's not much of a downside in seeing whether working part-time "works" for you. You can always pull the rip-cord, if not.

 

[haha]

I am anticipating the necessity of returning to the work force in some way. The collapse of oil squeezed my Play Money to nothing.

Thinking about dropping in to Manpower for casual labor. No committment required and I could use the exercise.

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I rarely go a day without exercising, but there really is little casual about casual labor. It's really hard work, and no infrequently with some danger. I would hate to do it.

If you can, try to cut expenses and avoid hard physical labor after a lifetime of professional work.

Ha

 

[target2019]

How many days or hours per week are you working?

Embrace the unexpected. I went from FT 40 to nothing. Old employer offered less than 1000 hours per year at 25% cut per hour and no benefits to come back. Can't post my exact thoughts on that.

I found contracts that paid 25% more for my technical specialties.

Then got called to a perm FT job. Took it to fund upcoming projects in the home.

Finding out that stepping into a new arrangement, I can write my schedule so long as I deliver. In a year or two I will turn it into fewer hours or more remote.

If you have the skills and can deliver, the company will adapt and give you what you ask for, within reason.

 

[Danmar]

The only problem with part time is what I call "renormalization". I went down to working 3 days a week at age 50 and it was great for a few months. Then I adapted to it and started to find the 3 days I worked to be just as enervating as the 5 I had worked previously.

The advantage for me is that P/T allowed me to survive work long enough to make it to 55, a small pension and finish with work entirely, not that it magically made work fun again.
YMMV.

I had worked out my retirement date but about 4 months before my boss asked me to stay another year to cover a position where the encumbent had just quit. I wasn't happy about this but he said"what would it take?" I said 4 days a week with same pay. This had never been done before at my level, but he agreed. He said he wanted to buy some "insurance" in case my replacement wasn't ready. The last year was OK but I don't think I really earned my pay. Was still very happy to go when the time came. I was 56.

 

[kcowan]

I had worked out my retirement date but about 4 months before my boss asked me to stay another year to cover a position where the encumbent had just quit. I wasn't happy about this but he said"what would it take?" I said 4 days a week with same pay. This had never been done before at my level, but he agreed. He said he wanted to buy some "insurance" in case my replacement wasn't ready. The last year was OK but I don't think I really earned my pay. Was still very happy to go when the time came. I was 56.

That happened to me twice. The first time they wanted 8 months and I agree to 2 months. The second time they insisted on 6 months and I was really just collecting money for the last 3 months.