Work for toys/travel

[Jimonlimon]

Here I am with 6 weeks to retirement and suddenly I'm considering work?

Summary of the question: I'm considering some part-time work to pay for frivolous toys and travel. If you've done this, does it make the work more palatable than the old slog just to keep a roof over head?

A week after meeting with my boss to announce my retirement he suggested that I could come back and help with special projects, knowledge transfer, and quality assurance. I initially laughed it off, but the more I thought it started to appeal. Most of my stress is related to being a supervisor and juggling so many competing priorities. This seems a lot better.

At my employer they can offer part-time work for pensioned retirees as "annuitants". It's good for the agency because they don't pay for any benefits. It's capped at 120 days per year and a 6 month waiting period after retirement. I hadn't really thought about it because I'm ready to be done with work stress.

I'm retiring with enough pension, future Social Security, and 401k to permanently increase our spending by 20% so we don't need the extra money.

Since I would be working part-time/short-term just for fun stuff I think it would make going to work sort of fun. Nearly instant gratification instead of the last 35 years where 90%+ of my net went to bills and long-term goals, not fun stuff.

For example we used to snow ski a lot but stopped because between gear, travel/lodging costs, resort prices, etc. were too much (especially with kids). If I worked 3-4 days a week for 2 months it would pay for a nice ski week for my wife and me.

I'm glad for the 6 month waiting period before being able to go back to work- it will let me settle in and solve once again the time vs. money equation.

 

[pacergal]

If you are giving yourself a 20% raise in retirement, do you need to work to pay for the "fun" stuff?
Retirement is all about what you want to do. If you desire to go back to work on call or part time, do so.

I did on call off and on for about 5 years. But, I didn't go back for almost a year. I gave myself some time to relax and get into retirement mode! The stress was practically zero, as I was no longer vested in the politics, etc. The little bit of extra cash did give us leeway in our budget, but overall, not a big deal.

Give yourself some time and space from work, then decide if you really want to go back. If it is a "need" to go back to finance vacations and nicer things, maybe you are not really ready to retire?

 

[Jimonlimon]

…
…
Give yourself some time and space from work, then decide if you really want to go back. If it is a "need" to go back to finance vacations and nicer things, maybe you are not really ready to retire?

I’m definitely ready to retire from the everyday job. Part of the timing is all the trips that are planned from February through September.

I wouldn’t go back until October at the earliest. That should give me time to settle into a routine first.

 

[Aerides]

You retire in 6 weeks and will for sure not be going back until 11 months from now? Do not even give any of this another moment's thought until next September.

You will undoubtedly think very differently by then. Ask us again maybe in August!

 

[HarveyS]

If I worked 3-4 days a week for 2 months it would pay for a nice ski week for my wife and me.

I don't think your are getting paid enough.

 

[OldShooter]

... I'm glad for the 6 month waiting period before being able to go back to work- it will let me settle in and solve once again the time vs. money equation.

Good. I try to avoid working on problems that I don't actually have. And I try to remember the admonition: No plan survives first contact with the enemy.

So, don't work on this question until maybe the end of month 4 or month 5. Your world is guaranteed to be different then than what you now expect. Your options may be different too.

Congrats on retirement! I recommend it.

 

[W2R]

Here I am with 6 weeks to retirement and suddenly I'm considering work?

Summary of the question: I'm considering some part-time work to pay for frivolous toys and travel. [...]

To be honest.... I really don't think you are financially prepared for retirement. You need to ALREADY have enough money in your retirement budget to afford some frivolous toys and/or travel after retirement.

None of us are pulling the plug when it looks like we'd have to live like monks for the rest of our lives due to lack of funds! My sincere advice is to keep working until your projected retirement income is more satisfactory.

 

[old medic]

I dropped about $25K on a tractor/ backhoe and trailer. I needed it to work around the new place, but planned on doing some side work. Had a sweet set up with 3 bush hog jobs One day a month but some nice cash in the coffers.

 

[Jimonlimon]

To be honest.... I really don't think you are financially prepared for retirement. You need to ALREADY have enough money in your retirement budget to afford some frivolous toys and/or travel after retirement.
...

I'm not worried. We have budgeted a 20% increase over current expenditures plus inflation and an emergency fund. Based on our standard of living this will more than double our "play" money.

My sincere advice is to keep working until your projected retirement income is more satisfactory..

Everybody is obviously different. We will have well above median annual spending of US retirees but a tiny fraction of the penthouse living, crewed yacht, country club set. Probably 90% of US retirees would love to have our retirement funds and 2% would be aghast at the prospect of having to let the hired help go and wash their own dishes.

 

[DrRoy]

With portfolio growth I found that I could BTD and travel all I want without more w*rk.

 

[Walt34]

You retire in 6 weeks and will for sure not be going back until 11 months from now? Do not even give any of this another moment's thought until next September.

You will undoubtedly think very differently by then. Ask us again maybe in August!

What she said.

Your mindset will be entirely different a year from now. I for one did end up going back to work after about three years of retirement. However, it was a very low-stress environment with a ten-minute commute (if both traffic lights were red) and I kept firmly in mind that working was optional and that I could and would leave if things went south. When they did, I quit.

 

[Ronstar]

Here I am with 6 weeks to retirement and suddenly I'm considering work?

I can't even imagine what that must be like. The last thing on my mind 6 weeks before retirement was the thought of going back to work. No amount of toys or travel could get me back to work.

I hope you recover from this. Time > $.

 

[Car-Guy]

I dropped about $25K on a tractor/ backhoe and trailer. I needed it to work around the new place, but planned on doing some side work. Had a sweet set up with 3 bush hog jobs One day a month but some nice cash in the coffers.

That's about what I paid for my first tractor with a FEL ~12 years ago. Also I bought a tandem trailer about the same time figuring I'd need it to take the tractor in for repairs occasionally. But I found tractors are really tough machines. The few things that have broke, I could easily fix myself. However, I'm on my 4th bush hog. Those things take a real beating.

Big boy toys. Have fun, but be careful.

 

[38Chevy454]

I agree with the rest, take 6 months or so to settle into retirement. It won't hurt to keep that contracting door open with your boss. All you have to do when time comes is say not interested. Retirement is having the freedom to do what you want to do. If that means some work to generate blow the dough money in your case, that is up to you.

 

[Kork13]

You need to wait 6 weeks + 6 months before you can start this part-time advisory gig anyway, right? So just keep the option open, settle into your retirement groove, then give the PT gig a try for a 6-12 months. See what you think, and decide from there what you want to do next. It doesn't hurt anything to give it a try.

 

[Teacher Terry]

I went back to help part time for 7 months after being retired for two years and loved it. But I have also done some paid work for 8 years of the 11 I have been retired. In fact my username came from one of my endeavors because it was a totally new occupation for me.

 

[Badger]

Here I am with 6 weeks to retirement and suddenly I'm considering work?

Summary of the question: I'm considering some part-time work to pay for frivolous toys and travel. If you've done this, does it make the work more palatable than the old slog just to keep a roof over head?

A week after meeting with my boss to announce my retirement he suggested that I could come back and help with special projects, knowledge transfer, and quality assurance.

I consider having to work part-time not much different that full-time except there are no benefits. If you haven't set yourself up for the retirement you want then I think you "Jumped the gun" way too early. I would see if you can't continue full time until such time you have your retirement plans financially covered.

Cheers!

 

[punkinhead]

My employer offered for me to go part time as a phased retirement. I declined because my work was very project based with hard deadlines. So I'd still have all the pressure to hit unrealistic deadlines for half the pay. No thanks.

 

[Car-Guy]

Before I retired, I was asked if I'd consider coming back to work as a contractor. Either part time or full time. I said no almost immediately.

While the job I had required a unique skill set and knowledge base, it also "required" some significant authority to make things happen. After seeing how we typically treated our contractors, I knew my effectiveness would be greatly diminished. I had thought about working as an advisor for my ex-boss, but I'm afraid that too would have become tenuous pretty quick.

 

[sparky08]

After I retired, I took 6 months off. Wouldn't even allow myself to think about any work. But I knew it had to be something completely different.

Near the end of that six months, I found a worthwhile cause that I can do part time. Heck, I'd do it for free, but they do pay me. I put that money into a 'fun' account. It's more symbolic than anything.

 

[Cassius King]

You won the game, time to enjoy the life. These are the best, healthiest years remaining go get after it.

Your comment says it: "I'm retiring with enough pension, future Social Security, and 401k to permanently increase our spending by 20% so we don't need the extra money."

 

[1242Vintage]

Only work post-retirement if it doesn’t interfere with what you want to do with your retirement freedom!!!

 

[MarieIG]

Here I am with 6 weeks to retirement and suddenly I'm considering work?

Summary of the question: I'm considering some part-time work to pay for frivolous toys and travel. If you've done this, does it make the work more palatable than the old slog just to keep a roof over head?

A week after meeting with my boss to announce my retirement he suggested that I could come back and help with special projects, knowledge transfer, and quality assurance. I initially laughed it off, but the more I thought it started to appeal. Most of my stress is related to being a supervisor and juggling so many competing priorities. This seems a lot better.

At my employer they can offer part-time work for pensioned retirees as "annuitants". It's good for the agency because they don't pay for any benefits. It's capped at 120 days per year and a 6 month waiting period after retirement. I hadn't really thought about it because I'm ready to be done with work stress.

I'm retiring with enough pension, future Social Security, and 401k to permanently increase our spending by 20% so we don't need the extra money.

Since I would be working part-time/short-term just for fun stuff I think it would make going to work sort of fun. Nearly instant gratification instead of the last 35 years where 90%+ of my net went to bills and long-term goals, not fun stuff.

For example we used to snow ski a lot but stopped because between gear, travel/lodging costs, resort prices, etc. were too much (especially with kids). If I worked 3-4 days a week for 2 months it would pay for a nice ski week for my wife and me.

I'm glad for the 6 month waiting period before being able to go back to work- it will let me settle in and solve once again the time vs. money equation.

Go forth, retire, and do exactly and precisely what you feel like doing after the six months.

 

[freedomatlast]

I've done this exactly, except I waited longer than 6 months to go back until exactly the right situation was presented.

Using the proceeds from a job after retirement is a great, guilt free way to BTD on totally frivolous stuff I would have never even considered buying while saving for retirement. Does anyone really need a vehicle with a twin turbocharged V-8 or go on 5 vacations a year? Of course not, but it sure is fun and the work is easy and stress free. And the retirement account balance is not negatively affected in any way.

 

[walkinwood]

If you've given this option so much thought that you felt you had to share it here, I recommend just giving it a try. Get the coulda/woulda/shoulda behind you.


You've got nothing but a little time to lose. The money may not even be the best thing to come out of it.