Can I go part-time now?

[mtncat]

I'm a longtime reader and this is my first post to the forum. Looking for some advice on switching to part-time work.

I'm 30 and love my job. I actually want to work until the "normal" retirement age of about 60. However, I want to scale back on my hours now. I worked hard during my 20's and I want more time to enjoy life while I'm still young. My retirement stash is nearing 175K and according to several retirement calculators I can leave it alone till I'm 60 (not adding a single penny) and still retire comfortably. So it appears I'm on track for the retirement I want.

I'm pretty Mustachian so part-time work would cover my living expenses, vacations, and a little savings. I also have a 3-month emergency fund. Am I ready to cut back to part-time or am I overlooking something? I'd be able to return to full-time at any point if needed.

[Mtngrl]

Does your employer offer health insurance to part-time employees?

[mtncat]

I'm Canadian so health insurance isn't an issue if I go part-time.

[toodleoo]

This may be a dumb obvious question, but would your employer even allow you to go part-time?

There are a lot of jobs that are full-time positions or nothing.

[LZZ]

I say go for it.  Life goals do change as you get older so you may end up working full time again. 
I've worked on and off since I was 23, traveling the rest of the time.  As I got older I ended up working more (average 10 months per year) and traveling less (people are still envious that I get to vacation 2 months a year).  I'm finding as I've got older I enjoy my routine at home more!  I'm on track to FIRE at 50 in 3 years time. 

[RedmondStash]

Yes. You can go part-time now. With the caveat that you may at some point in the future have to go full-time again for a while.

If the math works out that you've already got the 'stash you need, as long as you don't touch it before you're 60, why not go part-time? Frankly, why not go part-time anyway, if that's really what you want to do? You're already in a really solid position.

Your future life is full of unexplored possibilities. Don't assume you have to follow a specific track to find the optimal one. Choose the one that's optimal right now. You never know what opportunities will arise for you later on.

[Playing with Fire UK]

Yes, you sound ready to go part time. Do you foresee any changes (buy a house, kids, travel?) that would mean you'd need to go back to full time. I found it difficult to go from having every other Friday off to full time and from working at home to working in an office.

[HenryDavid]

Go for it now! Life is an adventure. Don't postpone things . . . .

At any point in the future you can resume f/t work if needed.
Meanwhile, enjoy the freedom you have bought yourself.
And watch your stash compound quietly.

PS:
If your employer is open-minded they might even love the idea. Since I cut back to 72% (don't ask) I've been told that "your 72% is better than a lot of people's 100%." In other words, you show up rested, interested and energized. You get stuff done. Employers love that.

[Syonyk]

If you can do it, do it.

I'm part time now, and couldn't be happier.  Every weekend is a 3 day weekend for me, which gives me more time to work around the property, spend with my family, and work on random projects.

If your employer is open-minded they might even love the idea. Since I cut back to 72% (don't ask) I've been told that "your 72% is better than a lot of people's 100%." In other words, you show up rested, interested and energized. You get stuff done. Employers love that.

That's my thing right now... I work part time, and remote.  Fortunately, my employer is familiar with my past work.  Even better, people I'm doing work for are very happy with my output.  A distraction-free environment is an amazing thing!

[Playing with Fire UK]

If your employer is open-minded they might even love the idea. Since I cut back to 72% (don't ask) I've been told that "your 72% is better than a lot of people's 100%." In other words, you show up rested, interested and energized. You get stuff done. Employers love that.

That's my thing right now... I work part time, and remote.  Fortunately, my employer is familiar with my past work.  Even better, people I'm doing work for are very happy with my output.  A distraction-free environment is an amazing thing!

How an employer responds to a request for PT/remote work is a good acid test for how good the employer is. I've had employers say no to reasonable requests and it in an insight into how narrow their thinking is (ass must be in a chair 8 - 6 and I must watch you). Finding the right employer makes a huge difference.

[BTDretire]

Here is my take on the numbers.
 I assumed a 7% growth rate and a 3% inflation rate.
Your welcome to put your own numbers into the calculators.
$175,000 will grow to $1,332,000 in 30 yrs at 7%.
$1,332,000 will have the buying power of $548,800 in 30 yrs of 3% inflation.
If you live off of 4%, that is $22,000 a year. Not enough for me.
Growth calculator:
http://www.moneychimp.com/calculator/compound_interest_calculator.htm
Inflation Calculator:
http://www.buyupside.com/calculators/inflationjan08.htm

[Playing with Fire UK]

Here is my take on the numbers.
 I assumed a 7% growth rate and a 3% inflation rate.
Your welcome to put your own numbers into the calculators.
$175,000 will grow to $1,332,000 in 30 yrs at 7%.
$1,332,000 will have the buying power of $548,800 in 30 yrs of 3% inflation.
If you live off of 4%, that is $22,000 a year. Not enough for me.
Growth calculator:
http://www.moneychimp.com/calculator/compound_interest_calculator.htm
Inflation Calculator:
http://www.buyupside.com/calculators/inflationjan08.htm

What are you spending at the moment OP?

[limeandpepper]

I'm pretty Mustachian so part-time work would cover my living expenses, vacations, and a little savings. I also have a 3-month emergency fund. Am I ready to cut back to part-time or am I overlooking something? I'd be able to return to full-time at any point if needed.

If you're still able to save while working part-time, I'd say go for it. I myself work part-time at the moment and I like it. Life is pretty cruisy and I still have a great savings rate. :)  I may return to full-time work someday if a compelling opportunity turns up, but at the moment I have no inclination to do so.