Anyone gone part-time instead of retiring?

[albireo13]

I have been thinking lately ... instead of going full retirement next January, I request to switch to part time instead ... 3 days/wk max.
I work at MegaCorp and am not sure if it will be received well.  I don't want to go around asking questions at work for fear it will tip my hand.

If not, I will just retire.

Why part-time???
I would keep some "fun money" coming in.
It would be much lower pressure. 

[skp]

I have.  But I'm a nurse and part time is not unusual.  I didn't want to have to buy health insurance on the open market, so I plan to stay part time until 65.

[Anette]

Same with me. Nurse working  66% or 5,15 hours a day (technically, in reality I work 7 nights, 8,5 hours/night and then I am off for 14 ).
For early "retirement" I am planning to reduce to only working as much as I need to, to still have health insurance. That means about 18%. Since we started saving for Fire to late, have five children and love traveling this seems a good compromise for us (@55)
I would try it and see how it feels, it is great you have the option to just quit if they make it unbearable or just not comfortable. Also, maybe you can find a good paying alternative once retired.

[rab-bit]

https://forum.mrmoneymustache.com/post-fire/calling-all-downshifters!/

[MayDay]

My company (not quite megacorp but pretty big) and a previous megacorp both let people do it.

It is something I am considering. I have a ways to go, but like you I figure I will ask.

They also regularly have people contract after retirement, but then of course you don't get health insurance. But the good thing about that is it is more seasonal so travel is easier.

[Metalcat]

Try it, quit if you don't like it.

I suppose I don't really understand the question?

[ender]

I plan to do this someday. Both my current and previous company had people doing 80% schedules.

I figure if I have a lot of FU money, I can actually do a real 80% schedule and not a 100% of work in 80% the time schedule, which is the risk associated with that.

[Seadog]

I plan to do this someday. Both my current and previous company had people doing 80% schedules.

I figure if I have a lot of FU money, I can actually do a real 80% schedule and not a 100% of work in 80% the time schedule, which is the risk associated with that.

80% is considered part time? Wow. A friend was considering moving across country, and they offered him an 80% schedule for the same money so he stayed. Being a fancy pants lawyer though, the work expected of him and hours worked were someone independent of each other, so after a few weeks taking long weekends he basically started working from home for a few more, and then back to normal.

That's one of my frustrations about professional level work, is that it's far more difficult to do it on a part time schedule. In fact it's far more difficult to even do it on a straight 40 9-5 schedule and not bring work home. Correct me if I'm wrong, but it seems like things like Nurse, Doctor Dentist I think it is because their "jobs" are actually a dozen small tasks of maybe an hour each(ie seeing patients), so that lends itself well to part time.

Things however like managing a plant or a project as an engineer, or negotiating large buyout contracts however I don't think do. These are ongoing commitments, or single tasks that take months with many heads all of whom are working fulltime+ schedules. It's simply not practical to have one guy work 16 hours a week, while everyone else on their team is doing 40, as they will still need someone else to cover the rest at almost full time status. Far easier just to get the guy at FT and not bother with the PT fellow.   

[ender]

I plan to do this someday. Both my current and previous company had people doing 80% schedules.

I figure if I have a lot of FU money, I can actually do a real 80% schedule and not a 100% of work in 80% the time schedule, which is the risk associated with that.

80% is considered part time? Wow. A friend was considering moving across country, and they offered him an 80% schedule for the same money so he stayed. Being a fancy pants lawyer though, the work expected of him and hours worked were someone independent of each other, so after a few weeks taking long weekends he basically started working from home for a few more, and then back to normal.

That's one of my frustrations about professional level work, is that it's far more difficult to do it on a part time schedule. In fact it's far more difficult to even do it on a straight 40 9-5 schedule and not bring work home. Correct me if I'm wrong, but it seems like things like Nurse, Doctor Dentist I think it is because their "jobs" are actually a dozen small tasks of maybe an hour each(ie seeing patients), so that lends itself well to part time.

Things however like managing a plant or a project as an engineer, or negotiating large buyout contracts however I don't think do. These are ongoing commitments, or single tasks that take months with many heads all of whom are working fulltime+ schedules. It's simply not practical to have one guy work 16 hours a week, while everyone else on their team is doing 40, as they will still need someone else to cover the rest at almost full time status. Far easier just to get the guy at FT and not bother with the PT fellow.   

A year or so ago I was pretty interested in a job posting for a team at Amazon, where they were doing an experiment to structure an entire team as 80% (not just 1 or 2 people; everyone in the entire group was going to be on that schedule).

I'm curious whatever happened of that.

[Fishindude]

I went to part time and greatly reduced responsibilities and salary my last two years of employment.  Was a pretty sweet way to transition.

[Seadog]

I went to part time and greatly reduced responsibilities and salary my last two years of employment.  Was a pretty sweet way to transition.

What was the field?

I think part of the problem is that if your had the ambition, intelligence, and drive to make it though law/engineering/med school, then it's almost inconsistent not to have that same drive professionally so if you do, you are an outlier.

[2Birds1Stone]

I'm shifting to spurts of work and leisure in 3 months. The first break will be 10 weeks over the summer, next year taking 9 months off for a round the world trip with my significant other, in lieu of a formal wedding (we are eloping somewhere along the way). Upon returning both will go back to work for a year or so, before taking another significant (6+ month) break to do our first thru-hike.

We are about 50% of the way to being fully FI, and predict that through this type of lifestyle our assets will grow till we can fully stop working in a decade or two. Worst case? We go back to FT work for 4-5 years and do it in a straight shot, but I like the idea of mini retirements now, while we are relatively young, and humans haven't completely destroyed the planet (yet).

Thanks to @arebelspy for promoting this idea 5+ years ago.

[rob in cal]

  In restaurant work, lots of part time options. In my case if I dropped any of my 5 nights a week, that wouldn't be a problem. Also, due to the emergence of doordash lowering our overall in house delivery (and my income by about 20%) numbers I find my self getting off work about 15 to 20 minutes early every shift, both lunch and dinner (I just go back to work if a late delivery is called in, as I live right near my work), so I'm seeing what I call doordashification of my work schedule.

[Prairie Stash]

My wife went to 60% (3 days a week). Eventually they needed her full time again due to an increase in work so she quit.

I'm hoping to be casual part time as an Engineer. My ideal situation is to work 1-2 days (on average) per week.  I'll do that by taking on contract work. Not necessarily with my original company.

There are many ways to go part time. My wife did the straightforward route and when it stopped working she made a second decison, she could have also decided to back to full time. I'm taking the other route of being my own boss and calling my own shots. I also am considering a part time job in an unrelated field, like a coffee barista or construction. Since money isn't an issue, its all about what looks interesting at the moment. Lots of companies need random help for a few days, I could easily string several gigs together to get 10-15 hours of work a week.

[SpareChange]

Planning to. Just a question of how close to FI I want to get before I do so. I'm in healthcare though. It's super easy to go PT.

[Classical_Liberal]

I have.  But I'm a nurse and part time is not unusual.  I didn't want to have to buy health insurance on the open market, so I plan to stay part time until 65.

Same with me. d.

Also a Nurse and will be downshifting later this year.  I've only been a RN for 6 years, but am pretty burnt at present.   Looking for advice on PT vs PRN vs doing one contract a year as a traveler (traveling last 4 years to max pay).  Would either of you like to share more about current situation and any advice wrt the above options? 

[Unique User]

I have.  But I'm a nurse and part time is not unusual.  I didn't want to have to buy health insurance on the open market, so I plan to stay part time until 65.

Same with me. d.

Also a Nurse and will be downshifting later this year.  I've only been a RN for 6 years, but am pretty burnt at present.   Looking for advice on PT vs PRN vs doing one contract a year as a traveler (traveling last 4 years to max pay).  Would either of you like to share more about current situation and any advice wrt the above options?

Travel contract work could be more than just the typical travel nursing 13 week contracts.  I know a couple nurses that do Cerner/Epic go-live work as well as one that does occasional go-live work for one of the bed alert apps and one that does occasional demo/education work for a wound care company.

I'm not a nurse, but thinking about occasional contract work to pay for luxuries or an expensive year or in case my projections are off.  Figured I'd much rather work 2-4 months a year than all year.  I'm planning on engineering my layoff for next summer, taking the summer and fall off and collecting unemployment. 

[Classical_Liberal]

Travel contract work could be more than just the typical travel nursing 13 week contracts.  I know a couple nurses that do Cerner/Epic go-live work as well as one that does occasional go-live work for one of the bed alert apps and one that does occasional demo/education work for a wound care company.

Very interesting, thanks! 

I opened up a new hospital (as a regular contract traveler) last year.  There were a ton of RN's demo'ing the new equipment, troubleshooting, etc.  I actually talked to one for awhile about the job.  I believe he said he was full time employee of "acme gizmo company".  I didn't realize they hired folks on contract for those types of things.  Do you have any idea how/where they came across those jobs?  Was it through regular nursing agencies?  did they require any specific medical technology experience before?

Again, thanks much!

[skp]

I have.  But I'm a nurse and part time is not unusual.  I didn't want to have to buy health insurance on the open market, so I plan to stay part time until 65.

Same with me. d.

Also a Nurse and will be downshifting later this year.  I've only been a RN for 6 years, but am pretty burnt at present.   Looking for advice on PT vs PRN vs doing one contract a year as a traveler (traveling last 4 years to max pay).  Would either of you like to share more about current situation and any advice wrt the above options? 

I would never go prn. prns don't get health insurance.  At my work they are the first to get called off/ put on standby (on call, sit by the phone ruin your day and still might not get paid).  They don't get paid as well as regular employees (not that much difference- about $1 an hour less but still....).  They are still expected to work weekends and holidays (although probably not as many).
I don't see much up side to it especially if you still have to work. 
I don't know much about travel nursing.  What I know is what I've heard from others.  It sounds like the pay is fantastic and you'd get to see other parts of the country.  If your young and can just pick up and move on a whim, then it would work.  I think you have to be an adventurous soul to do travel nursing.  But there are some downsides.  I've worked at the same place for 35 years, I know the people, know the routine. I know where things are located.  I'm at the end of my career and am not interested in any more stress.  Do you like floating? I hate to float.  To me, travel nursing would be similar.  If walking into a place and not knowing where anything is, who has your back, who you can ask questions of, if you can learn different computer charting systems easily, then it would be OK.   It just wouldn't be for me.

[albireo13]

I work at MegaCorp in a salaried position,   I get the feeling that the company couldn't wrap their head around me going part time. 
I'm am R&D engineer in a high tech field.  I generally am available for evening meetings, calls on the weekends, overtime as needed, etc.
Going part time, I will put up with none of that.  It will be the hours I work ... are the hours I work.
 It will be interesting to see if that will fly.     I don't recall anyone else in a similar position there going part time.

 

[JoJo]

I went part time at a mega corp a little over 2 years.  I work 62.5% time, which gives me about 21 weeks off work a year, including holidays.  I do project work and I tell them what times I'll be there so we plan projects around that.  I also have enough knowledge to pick up many "small projects" ie. those of a few hours to a few days that I take off the hands of my prior department.   It's a pretty good deal.  I was able to negotiate this as the company was getting instruction from the parent to drastically reduce expenses for a 3 year period of time, so that helped a bunch in negotiating this.   With the 21 weeks, I take 2 longer trips per year in the range of 6-8 weeks, and the rest is spread out thru the year. 

[Classical_Liberal]

@skp
Thanks for your opinion.  Although it sounds like we are almost exact opposites in our preferences.  Except for the call; if I was put on call regularly I'd be done. Luckily I've seen a multitude of varying policies at hospitals wrt to call.

The main advantage to PRN, in my consideration, is I would get to work completely based on my preferences. So, if I wanted to not work for a few months, generally that's OK, as long as you meet some mandatory minimum of hours each year.  I'm actually looking for ways to separate my health ins from work, so the lack of bene's is a plus for me.

[Firehazard]

My husband asked for part-time.....Megacorp told him no, it would set a bad precedent.  They don't want employees going around thinking there might be a better way to work and have a life.

[Unique User]

Travel contract work could be more than just the typical travel nursing 13 week contracts.  I know a couple nurses that do Cerner/Epic go-live work as well as one that does occasional go-live work for one of the bed alert apps and one that does occasional demo/education work for a wound care company.

Very interesting, thanks! 

I opened up a new hospital (as a regular contract traveler) last year.  There were a ton of RN's demo'ing the new equipment, troubleshooting, etc.  I actually talked to one for awhile about the job.  I believe he said he was full time employee of "acme gizmo company".  I didn't realize they hired folks on contract for those types of things.  Do you have any idea how/where they came across those jobs?  Was it through regular nursing agencies?  did they require any specific medical technology experience before?

Again, thanks much!

@Classical_Liberal - I sent you a PM.

[ericrugiero]

I would be very surprised if my company would consider part time.  It's more of an old school megacorp and nobody has done that type of thing here. 

But, it's a pretty attractive idea for me.  As I get closer to retirement being able to spend more time at home with my boys while working part time (every other week or every other month?) would be very nice.  Covering expenses while letting investments grow would be a nice compromise. 

I certainly won't ask now for fear of negative perceptions.  When I get closer, it's something I will keep in mind. 

[Fishindude]

I went to part time and greatly reduced responsibilities and salary my last two years of employment.  Was a pretty sweet way to transition.

What was the field?

Business owner, industrial commercial general contractor.

[SpareChange]

I went part time at a mega corp a little over 2 years.  I work 62.5% time, which gives me about 21 weeks off work a year, including holidays.  I do project work and I tell them what times I'll be there so we plan projects around that.  I also have enough knowledge to pick up many "small projects" ie. those of a few hours to a few days that I take off the hands of my prior department.   It's a pretty good deal.  I was able to negotiate this as the company was getting instruction from the parent to drastically reduce expenses for a 3 year period of time, so that helped a bunch in negotiating this.   With the 21 weeks, I take 2 longer trips per year in the range of 6-8 weeks, and the rest is spread out thru the year.

Nice. Sounds like a great setup.

[mm1970]

Our industry (engineering) is generally not favorable to part time.  But, when I started my job I was part time (with a small child, I knew the founder so that's how I got the job).  Then up to full time, then another year PT when I had another child.

That meant that several people here know it's possible.  One of my coworkers is early 60's and wanted to downshift, so he asked me to give him the deets.  Basically, 30 hrs is required to keep benefits.  He was hoping for less, but is managing 30 with PTO thrown in there.

[SKL-HOU]

Most companies in my field (in mech engineering) have the PT option including the megacorps. Previous company has 24 hr PT full benefits, current company has 20 or 30 hr PT full benefits, another company i went to briefly had 24 hr PT full benefits. Of course it has to be approved.

This is what i plan on doing the last few years of my career when i get there.

[Adam Zapple]

My idea is to work seasonally.  Just enough to cover medical expenses until Medicare kicks in.  I don't see the attraction to being locked into one location/schedule.

[Zikoris]

My partner did something like this last summer - he quit his regular job to freelance as an editor exclusively for books/authors he likes, and now works about 5-6 hours a day from home doing something he enjoys (in pajamas).

Interestingly, he just kind of fell into the whole thing, versus making an active choice to pursue that as an alternative to work. He started it as a side gig and quickly got so slammed with work that he needed to choose between that and a regular job.

[ericbonabike]

I'm a 42 year old engineer.  My wife and I both decided to cut our hours to 75% (30 per week) when our son was born last summer.  It's been wonderful. 
We both have very flexible schedules and our company lets us flex hours within a calendar month.

So, if we don't have any off-days planned or vacations planned, we work 6 hours a day 5 days a week. 
If we have an off day here or there, not big deal to work a couple of 8's and make up for that.

We've taken as long as a 3 week vacation.  But it spanned two months.  So, we worked 8 hours a day for the first 3ish weeks of the first month, and 8 hours a day for the last 3 weeks of the second month.  I think we ended up burning about another week of vacation to cover the deficit. 

I can imagine doing this for a long long while as it has completely eliminated my job stress.

[Linea_Norway]

My partner did something like this last summer - he quit his regular job to freelance as an editor exclusively for books/authors he likes, and now works about 5-6 hours a day from home doing something he enjoys (in pajamas).

Interestingly, he just kind of fell into the whole thing, versus making an active choice to pursue that as an alternative to work. He started it as a side gig and quickly got so slammed with work that he needed to choose between that and a regular job.

Sounds like a good deal, where he can picks the stuff that he likes. This is so different from having a boss who tells you what you have to do. And the lack of commute and having to dress up. And I imagine he can work at the hours he enjoys.

[Bird In Hand]

I'm a 42 year old engineer.  My wife and I both decided to cut our hours to 75% (30 per week) when our son was born last summer.  It's been wonderful.
...
I can imagine doing this for a long long while as it has completely eliminated my job stress.

It's awesome that you were able to both do this at the same time, and you get to both have less stress at your job(s) while spending more time with your son while he's little.

Is your 'stache big enough that you can keep on doing 3/4 time and let it grow to FI/RE level within a decade or so?  Did you have to cut down on your pre-tax contributions when shifting to PT, and if so, did you estimate the degree to which that might extend your time to FI/RE?

You were already past 40 when you started PT, so depending on the length of your career and income, it's possible you already have a large enough nest egg that you'll never need to work full-time again.

[Mississippi Mudstache]

I'm a 42 year old engineer.  My wife and I both decided to cut our hours to 75% (30 per week) when our son was born last summer.  It's been wonderful. 
We both have very flexible schedules and our company lets us flex hours within a calendar month.

So, if we don't have any off-days planned or vacations planned, we work 6 hours a day 5 days a week. 
If we have an off day here or there, not big deal to work a couple of 8's and make up for that.

We've taken as long as a 3 week vacation.  But it spanned two months.  So, we worked 8 hours a day for the first 3ish weeks of the first month, and 8 hours a day for the last 3 weeks of the second month.  I think we ended up burning about another week of vacation to cover the deficit. 

I can imagine doing this for a long long while as it has completely eliminated my job stress.

Great to hear about your experience with this. I'm in the middle of trying to get a similar schedule with my own employer. Those 3-week vacations are impossible with a full-time job, and one of my biggest draws for part-time work.

[x02947]

I'm a 42 year old engineer.  My wife and I both decided to cut our hours to 75% (30 per week) when our son was born last summer.  It's been wonderful. 
We both have very flexible schedules and our company lets us flex hours within a calendar month.

So, if we don't have any off-days planned or vacations planned, we work 6 hours a day 5 days a week. 
If we have an off day here or there, not big deal to work a couple of 8's and make up for that.

We've taken as long as a 3 week vacation.  But it spanned two months.  So, we worked 8 hours a day for the first 3ish weeks of the first month, and 8 hours a day for the last 3 weeks of the second month.  I think we ended up burning about another week of vacation to cover the deficit. 

I can imagine doing this for a long long while as it has completely eliminated my job stress.

This.  This is what I'm slowly shifting my goal to.  I love my job, but want to do so many other things in addition to it (rather than instead of it), but I just don't have the time.  Stash is big enough to provide 4% WR at 65, and worst case pension (drop to 20 hrs week tomorrow) would cover 50% of FATFire expenses starting at age 57.  It's a federal pension, so I feel secure enough to not discount it.  Why not have it all while I can?  If things go south then I can still just go FT again.  The only downside is employer healthcare premium contributions go down on a sliding scale with hours worked and I still wouldn't qualify for an ACA subsidy as I can still get insurance through work. 

It would significantly delay my FIRE, but if it was only 6 (or possibly 4 after the kiddos leave) hours a day, I would be happy and absolutely fine "still having a job"- isn't that the point?

[ericbonabike]

I'm a 42 year old engineer.  My wife and I both decided to cut our hours to 75% (30 per week) when our son was born last summer.  It's been wonderful. 
We both have very flexible schedules and our company lets us flex hours within a calendar month.

So, if we don't have any off-days planned or vacations planned, we work 6 hours a day 5 days a week. 
If we have an off day here or there, not big deal to work a couple of 8's and make up for that.

We've taken as long as a 3 week vacation.  But it spanned two months.  So, we worked 8 hours a day for the first 3ish weeks of the first month, and 8 hours a day for the last 3 weeks of the second month.  I think we ended up burning about another week of vacation to cover the deficit. 

I can imagine doing this for a long long while as it has completely eliminated my job stress.

Great to hear about your experience with this. I'm in the middle of trying to get a similar schedule with my own employer. Those 3-week vacations are impossible with a full-time job, and one of my biggest draws for part-time work.

More specifics:

Our full time(gross) annual salaries:  maybe about $200k.
Our old savings rate:  Maxed out 401k (~3200 pretax).  Max out Roth IRA at about ~900 per month.   So, our take home monthly paycheck (after those early deductions) was about $8k a month.  We were saving (on average) another 4-5k a month into a brokerage account.


Our 75% (gross) annual salaries:  about $150k
Our new savings rate:  Still maxing out 401k.  Still maxing out Roth/Backdoor Roth.  Take home pay (after those earlier deductions) is now about $5k.  Our take home monthly paycheck (after those earlier deductions) is about 5k.   So, we have reduced our monthly brokerage savings to about 2k a month.   

So, we are still saving money, but we are just saving less.

Our nest egg is about 1.2 mill.  I'd like to acquire another 500k.   I think I can do that in 4-5 years depending on how market performs.

But I'll say this:  given the easy schedule and low stress environment, I don't really see a compelling urgency to cut the money hose off right now.  We both like our jobs. 

[FireLane]

Mrs. FL and I went part-time (4 days a week) last summer, and it's been great. I don't plan on working a 5-day stretch ever again in my life.

Like other posters have said, the best part is that it's allowed us to spend more time with our son while he's little. That was my "socially acceptable" excuse for going part-time. But it also means more leisure and more weekday time for errands and chores. I've noticed a significant decrease in work stress.

Best of all, because of marginal tax rates, you can work 80% time for more than 80% of full-time pay. When all's said and done, I don't think it will make that much difference to our FIRE timeline. It helped that we were already most of the way to our number when we went PT. The market was already doing the heavy lifting for us anyway.

[Cassie]

Yes the past 6 years.

[buddhapeace1]

My plan is to go to part-time when I turn 55 (in 5 years). I'm an organizational development consultant and my consulting group provides a lot of flexibility. I'm in my prime earning years right now, but want to go to 50% time at 55. That way I'll still enjoy my rewarding work and all of the benefits I've worked so hard for (6 weeks vacation a year, 10% 403b match, health insurance, paid sabbatical, etc.), but have more time for my other passions. My husband is is 10 years younger than me and I am the main breadwinner, so I am focusing on saving a ton right now and, luckily, enjoy investing as a hobby. Fingers crossed that my plan works! If we go into recession or some other disaster strikes, I will adjust happily. I'm happy now, but am looking forward to a more relaxed, less stressful life.

[ender]

Best of all, because of marginal tax rates, you can work 80% time for more than 80% of full-time pay. When all's said and done, I don't think it will make that much difference to our FIRE timeline. It helped that we were already most of the way to our number when we went PT. The market was already doing the heavy lifting for us anyway.

This is a good point!

[Metalcat]

Best of all, because of marginal tax rates, you can work 80% time for more than 80% of full-time pay. When all's said and done, I don't think it will make that much difference to our FIRE timeline. It helped that we were already most of the way to our number when we went PT. The market was already doing the heavy lifting for us anyway.

This is a good point!

This was a huge motivator for me. I calculated that even if I was maxing my tax advantaged accounts every year, the top 25% of my hours were being worked at a major discounted rate.

So the weekly hours that were the least pleasant, were also the lowest paid. Fuck that noise.

[ender]

I wonder what that'd end up being for me.

Right now though I think even at that marginal rate I'm pretty happy with my pay. Later on I think that's more of a viable option, once we're at a higher % of our FIRE target.

[Metalcat]

I wonder what that'd end up being for me.

Right now though I think even at that marginal rate I'm pretty happy with my pay. Later on I think that's more of a viable option, once we're at a higher % of our FIRE target.

I was still at negative net worth when I made the drop to part time. It's as viable as you want it to be. It's just a matter of priorities.

[2Birds1Stone]

Another cool way of tackling the taxes is with years of work between a year off, and having that year fall 6 months in two different calendar years. You could essentially pay very little tax as a higher income earner, and it may be a more viable option in some fields than going part time. Could also allow for greater agency of time and location during the non working period, for those whose work is not location independent.

I'll be testing this out next June/July, working to fill up the 10/12% tax bracket and then taking 12 months off till the following summer, and doing the same for 2020/2021. Spreading the income of a 12 month work year across two tax years. Paying very little to no taxes this way.