Author Topic: What would it cost to buy you back into working?  (Read 9687 times)

TheOldestYoungMan

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Re: What would it cost to buy you back into working?
« Reply #50 on: September 02, 2019, 08:36:21 PM »
So I actually did go back to work a little bit ago.  Someone I used to work with called me up about a position that sounded to them like something that would interest me, and it did.  It starts in the states 100% working from home, and eventually I will be sent all over the world to work where needed.  It uses exactly my specialty and nothing else.  It pays more than I ever thought I would get paid in my wildest dreams.  Plus housing.  Plus a travel budget.  Plus 30 days of vacation.

I was retired for 14 months, and it was pretty great.  I got the call while I was in my hammock, sipping a beverage, reading a book.  The offer was infuriating.  It was exactly the type of thing that I couldn't possibly turn down.  After 2 years, I'll be allowed to take up to 6 months at a time off (unpaid) for every 6 months I work.

The worst part of FIRE, for me, was that I had a lingering guilt about not using my education.  Vanishingly few people can do what I do, and we are all massively overworked as a result.  Had you asked me to describe my ideal retirement, it would have been pretty close to this, only it would have been teaching at various universities instead of working in industry.  But! A decent part of my job will be training various global departments up to par.  So teaching.

And the money is like...stupid.  I'm not sure that anyone who came from where I came from could turn this down.  It's dynasty-building type money.  Or I'm just a huge whore, that's also a possibility.

So that was my number.  The first year it will double my savings.  Just nuts.

HovEratoTo

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Re: What would it cost to buy you back into working?
« Reply #51 on: September 04, 2019, 07:24:12 AM »
If I could work part-time, 95% from home, and never have to attend BS meetings, I'd go back to work for a few years.

This is my current set-up, except 100% from home. It's the only reason I accepted my current contract position. I love having the freedom to say "no" to so many things. Work fits around MY schedule now. And if either party ever decides it's just not working, I'll just shoulder-shrug and walk away!

HovEratoTo

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Re: What would it cost to buy you back into working?
« Reply #52 on: September 04, 2019, 07:28:02 AM »
In a sadly ironic mic drop on my comment about not knowing how long you have I found my father dead yesterday morning. He was 66 and in good health. I had just talked to him Friday. Everyone I've notified is simply shocked because of how vibrant and strong he always was. Pursue happiness everyday and tell people you love them.

Just made it to this part in the thread. I'm so sorry for your loss. I hope you are surrounded by loved ones and have the support you need right now.

bacchi

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Re: What would it cost to buy you back into working?
« Reply #53 on: September 04, 2019, 09:39:50 AM »
So I actually did go back to work a little bit ago.  Someone I used to work with called me up about a position that sounded to them like something that would interest me, and it did.  It starts in the states 100% working from home, and eventually I will be sent all over the world to work where needed.  It uses exactly my specialty and nothing else.  It pays more than I ever thought I would get paid in my wildest dreams.  Plus housing.  Plus a travel budget.  Plus 30 days of vacation.

I was retired for 14 months, and it was pretty great.  I got the call while I was in my hammock, sipping a beverage, reading a book.  The offer was infuriating.  It was exactly the type of thing that I couldn't possibly turn down.  After 2 years, I'll be allowed to take up to 6 months at a time off (unpaid) for every 6 months I work.

If my working life was like this, even excluding the mad money and the international travel, I could've worked longer and with far more motivation. Congrats.

Linea_Norway

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Re: What would it cost to buy you back into working?
« Reply #54 on: September 05, 2019, 02:42:12 AM »
I would go back if we had to survive. For example if my DH would become disabled and we had much higher cost of living. Then that would be a good argument.

DH wants to continue to work a bit after FIRE, at his own pace and conditions, just for extra "fun" money. I think we have room for that anyway, but we'll see. Maybe he also wants to feel a bit "useful".
« Last Edit: October 29, 2019, 01:44:10 AM by Linea_Norway »

spartana

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Re: What would it cost to buy you back into working?
« Reply #55 on: September 05, 2019, 10:25:10 AM »
Right now I wouldn't go back to work for any amount of money.  I would work if the only way I could do something I really wanted to do was to do it as a job but I wouldn't do it for money - that would just be a by product. For example I always wanted to go to Antarctica and spend a year there doing some kind environmental research or working on a vessel of some sort  (bit not a cruise ship and not interested going as a tourist) so if an opportunity like that came up I'd jump at it even if it was a job. Other similar "adventurous" types of jobs could lure me back temporarily but so far I'm not tempted by anything - and money has zero motivation for me at all now. I'd just donate it all anyways.

ETA: I first quit my job when I was 36 and FI and the DH and I were seperating (he was also FI but decided he didn't want to RE when we were 38  like we had planned even before marriage). After 2 years off work my old job asked me to come back and DH wanted to get back together (not divorced  just legally sepetated) so I went back (was living in Spain then). Regretted it but knew DH and I would RE in about 3 or 4 years so happy to work even if FI. Then DH decided he wanted to work forever  (at least 30 more years - ugh) so we divorced and I quit my job asap at 42 and haven't worked since. In hind site I wish I had stayed RE and not gone back to work but it was nice to pad the stash and add more years towards a future pension especially following a divorce.
« Last Edit: September 05, 2019, 10:41:58 AM by spartana »

NAVRESLDO

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Re: What would it cost to buy you back into working?
« Reply #56 on: September 06, 2019, 06:13:13 PM »
"So why would I trade what might be the best year of the rest of my life to go to an office?"

This really struck a chord.  I actually went on a job interview yesterday for an interesting job that I don't need.  Thanks.

John Galt incarnate!

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Re: What would it cost to buy you back into working?
« Reply #57 on: October 28, 2019, 07:07:26 PM »
The only way I'd consider working again would be if I needed more money, or if I thought it would make me happier. I don't anticipate either scenario.

+1.

flyingaway

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Re: What would it cost to buy you back into working?
« Reply #58 on: October 30, 2019, 08:14:51 AM »
I don't have an opportunity to come back to work in anything close to what I want to do. So I decided to stay with my current job for a little bit longer.
Once I officially retire, I do not plan to do anything that will earn me money.

2Birds1Stone

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Re: What would it cost to buy you back into working?
« Reply #59 on: October 30, 2019, 03:12:16 PM »
I would go back if I could WFH, <40 hours a week, and fetch a base salary of $180k/yr.

Currently super leanFIRE'd, so a year or two at that income would allow me to fatFIRE in short order.

soccerluvof4

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Re: What would it cost to buy you back into working?
« Reply #60 on: November 01, 2019, 04:10:49 AM »
After being Fire'd for 4+ years I started doing side gigs and actually enjoy it BUT it is a bit physically demanding. So If I could work at home or in a small office atmosphere and work 20-25 hours a week and make 100k doing it I would for 2-3 years. I am sure if I looked hard enough I could find something like that now but I would want someone to come to me I dont want to go looking for it.

onewayfamily

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Re: What would it cost to buy you back into working?
« Reply #61 on: November 01, 2019, 04:24:03 AM »
As you can see from the responses - the replies are (mostly) split between those that haven't retired yet and those that have. It is actually not the same question as would you do OMY while you're still working but about to FIRE - those people are much more likely to work another year or few if they were promised only a 50-200% multiple of their current salary. The thinking goes 'I've been modelling all my FIRE plans and this extra $x00k will push me way over my safety levels and provide all these extra options' so it seems to make sense.

Those that are already retired have mostly responded with extremely large amounts ($1m+) or that basically under no circumstances would they return to work, for any amount. We fall into this second camp (being FIRE'd for 3+ years now). As several posters have said, if you've planned correctly and really do have enough (i.e. you didn't FIRE with a lower number than you're actually comfortable with) then there is basically no reason to return to work, other than perhaps charitable giving or things in that vein. Your lifetime drains away and nothing can bring it back, so why sacrifice even another second for something you don't need any more of.

Linea_Norway

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Re: What would it cost to buy you back into working?
« Reply #62 on: November 01, 2019, 06:02:28 AM »
<...> As several posters have said, if you've planned correctly and really do have enough (i.e. you didn't FIRE with a lower number than you're actually comfortable with) then there is basically no reason to return to work, other than perhaps charitable giving or things in that vein. Your lifetime drains away and nothing can bring it back, so why sacrifice even another second for something you don't need any more of.

That is what I think too. Still, for reados unknown to me, my generally very intelligent DH thinks he wants to do some occasional work after FIRE, to create some extra spending money. I think it is not necessary, because our FIRE budget is not exactly lean. I certainly see no point for me to go back doing similar work as I do now. Too much stress for my liking. I might want to do some meaningful, yet low stress work, like helping the local shop some hours in busy period.

herbgeek

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Re: What would it cost to buy you back into working?
« Reply #63 on: November 01, 2019, 03:41:32 PM »
I retired 5 months ago.  I like the /idea/ of working part time in the future, but now that I've added exercise classes and other items to my daily schedule, I'm not sure how I would actually do this now, without giving up these new activities that I enjoy.

NWOutlier

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Re: What would it cost to buy you back into working?
« Reply #64 on: November 02, 2019, 11:47:27 AM »
I'm posting my reply before I read all the comments; I hope my answer is aligned with the question.

to me "FIRE" means "you don't HAVE to work" - doesn't mean, you're going to completely avoid anything that pays for your time... let's say, I'm now independent, but I want to learn about furniture making.. I can literally go to a "job" at minimum wage, work with wood, production class equipment and see how furniture is "built" (not designed)... no cost to me other than time (which I don't have when I'm working for money)

the point has never been to do nothing, the point is to be able to do what you want... put a roof over your head, heat, food, insurance, important stuff that is covered by your financial savings... you don't "depend" on an income to meet your basic needs (for some basic + luxury).

I think we need a new acronym..  FIRE has it's group of people, but - I think there is another acronym we can come up with... FI, in short covers it... RE is accurate, but not literal - meaning, retire (or retire early) does not result in doing nothing for the rest of your life....

I guess my answer would be that I would work for zero-minimum wage assuming I was comfortable FIRE.

Here are the benefits of being not dependent on employment... self education, volunteer to improve community (schools, parks, arts, other) maybe if I over did my savings, I would donate money, maybe I work at a company for their discount on goods or services)...  FIRE isn't literal, it's options...

now I'll go back and read the responses to this post, let's see how this comment compares to others.... (I'll edit/update if I change my stance/opinion from above)

(Ok - from this point on is edits after scanning the comments)
Wow - see? even I can and need to learn a lot!!  the commenters have opened my eyes!... if I was asked to go back to my current work (high stress, high technical) - it would cost a pretty penny, and temp work only, was well as, work from home, no more than 3-9 months a year....

so if I change the context from what would I do if I'm comfortable, or what would I do if I had to go back and doing what I do now?  - the results vary from 0 to min wage, although if  I go back to what I'm doing now? it would be 6 figures (relative) with daily time being restricted to (4-6hrs), remote work, and probably more as I digest the comments people have provided.

Best Regards,

Steve (NWOutlier)
« Last Edit: November 02, 2019, 11:55:57 AM by NWOutlier »

Cali4en

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Re: What would it cost to buy you back into working?
« Reply #65 on: November 02, 2019, 05:26:38 PM »
I wouldn't go back to working a normal job for any amount of money.  We already have enough to sustain our preferred standard of living forever and to leave a nice inheritance to all of our children.  Extra money has less value to us than the time we would lose in acquiring it.

That being said, I would go back to work for something truly worthwhile.  We volunteer for the same reason and we both really enjoy that.  If someone came to me with a job offer that was actually meaningful, then I might do it regardless of what compensation was offered.

EndlessJourney

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Re: What would it cost to buy you back into working?
« Reply #66 on: November 09, 2019, 01:47:58 PM »
I think we need a new acronym..  FIRE has it's group of people, but - I think there is another acronym we can come up with... FI, in short covers it... RE is accurate, but not literal - meaning, retire (or retire early) does not result in doing nothing for the rest of your life....

Leave it to Mr Money Mustache to already have come up with an acronym for what you are describing:

SWAMI (Satisfied Working Advanced Mustachian Individual)

From: https://www.mrmoneymustache.com/2011/04/30/weekend-edition-retire-in-your-mind-even-if-you-love-your-job/

DoNorth

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Re: What would it cost to buy you back into working?
« Reply #67 on: November 10, 2019, 06:36:23 AM »
went back to work after 3 years of FIRE.

small west European town, Almost $150K/year; over half of it tax free in the form of various allowances. lots of vacation, sick leave, and other forms of time off.  Lowest stress job I've ever had with no requirements for meetings/conference calls or any reports.  I basically just have to be present.  Other allowances for foreign language tutoring, international schools for my kids and paid housing.  I don't regret it for a second.

Skyhigh

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Re: What would it cost to buy you back into working?
« Reply #68 on: November 10, 2019, 01:02:11 PM »

Due to a poor performing career I was forced into FIRE at a fairly young age.  Now that my industry has recovered I have been trying to find a way to reenter the job market without upsetting my home life and finances too much. I am too scared to risk my financial independence much. My family is very happy with where and how we live. They would not tolerate much displacement.

As an older worker, I find that employers are commonly passing my generation over. They want me to start over at the bottom and endure all the hardships completely over again. I really wanted a meaningful career and find the FIRE life as an older person difficult to accept. It feels as though life and accomplishment have passed me by. Doing what one wants all the time loses its value. I imagine it is different to leave a completed career for retirement. I am bored with FIRE.

I have volunteered enough, traveled enough, and took plenty of self-enriching classes. I don't want to ride any more bikes on a Wednesday morning don't want to join any more cross-country ski clubs. I am done with cows, chickens, gardening,.... etc

 

2Birds1Stone

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Re: What would it cost to buy you back into working?
« Reply #69 on: November 10, 2019, 03:47:15 PM »
Damn, skyhigh....the world still needs samdwhich makers and Walmart greeters. I'm sure you could un-FIRE if it's sp terrible.

nancyfrank232

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Re: What would it cost to buy you back into working?
« Reply #70 on: November 10, 2019, 03:50:49 PM »
@Skyhigh thatís how I felt about FIRE as well. Good luck finding what youíre looking for!

BTDretire

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Re: What would it cost to buy you back into working?
« Reply #71 on: November 10, 2019, 05:49:23 PM »
I have no interest in working again, but if I had a physist, electronics designer, machinist, carpenter, computer programmer, artist, cook, nutritionist and a few other specialties at my beck and call, I'd play full time with lots of over time.
                Mikek

SwordGuy

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Re: What would it cost to buy you back into working?
« Reply #72 on: November 10, 2019, 10:43:19 PM »
I would come out of retirement if I could get a contract with the feds to house immigrants/refugees awaiting deportation or asylum hearings for the going fat cat buddy rate of $775 per person per night.

I would pay each refugee $2000 a month whether they were old enough to work or not.   Those that could work would renovate a house I would buy for them with the cash and gift to them.   Lather, rinse and repeat until each family had their own house.  Then I would identify houses owned by their new neighbors and pay them to fix up the neighbor's houses, too.   New paint job, new roof, whatever was needed.   That way their new neighbors would be glad they are there.

I would toss in money to cover "how to be an American" lesson and English language lessons.   

And I still wouldn't be spending all the money because we're talking about $282,875 per person per year.   

$100,000 house, including renovation.
    24,000 wages.
     6,000 lessons.
   60,000 neighbor renovation supplies.
==================
$190,000 costs so far.

I've still got $92,875 per person per year to spend to accomplish something useful.
Oh, hell, let's pay them $4000 a month instead of $2000.   Hey, they could afford soap and a bed to sleep in at this point.

Now we're at $214,000 with $68,875 still to spend.

So, the first five refugees would leave me with 5 * $68,875 or $344,375 in my pocket.
Let's see, I'll hire a foreman and pay them well, so we're looking at $200,000 still in my pocket.   Hell, have a lottery and put money on the debts of the new neighbors or donate it to some charities.

Of course, that assumed 5 unrelated immigrants.

If it was one family of 5, that would save me $400,000 in house purchase costs!
And that family of 5 would have an income of 5 * 48,000 or $240,000 a year, even if one of them was a stay-at-home mom and the other four were quadruplet babes-in-arms.

So, if at the end of the year Uncle Sam decided to deport them they would have between $35,000 and $210,000 in their pocket plus a $100,000 house that could be sold.   Whatever country they end up in (unless they are sent back to their old one and are killed by their country's government), they would have a heck of a nest egg to make a new start with.  And it would take less than 2 weeks to sell the house because I would have more immigrants to take care of and a ready-to-go house would be perfect.

Doing that much good could get me out of retirement.



ROF Expat

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Re: What would it cost to buy you back into working?
« Reply #73 on: November 11, 2019, 08:51:27 AM »
I'm already FIREd, and I don't think I'd go back to work just for the money. 

I would consider going back to work if someone offers me really interesting work, with colleagues at the top of their game, in a field that I could feel good about.  I wouldn't consider it if it meant large amounts of time away from my family.