Team Dusty Dog is embarking on a 6-month trial run of 32 hour/4 day weeks. We are extending our FIRE date in exchange for more time NOW, to spend working and playing on the ranch, and to travel using fewer hours of leave. We’ve got a forest to manage and trails to build, after all!
Even with the pay cut, we should be able to save at least 25K annually into tax-deferred accounts. I will continue to pay into my gov’t pension and earn full month service credits. I get a little haircut on my PTO accrual, but DH keeps his at 100%. Ah, the fine print in the personnel policies.
We will extend our FIRE date from 5 to 10 years, but since we absolutely must have health insurance, this seemed like a good option to get us from 45 to 55 while getting what we wanted most, which was more time to do our own thing.
We are fortunate to like our paid work, and to have flexible employers. I will go back to hourly, so no more comp time for me, but I can work up to 40 if I need to and overtime if I need more than what (which I don’t foresee). Hopefully all will go well and we will make this permanent in 6 months.
Keep in mind that we are doing this with a pretty modest income (by forum standards). Our gross will be going from 99K to 83K. We spend an average of 36K per year (two people, one dog, one cat). We have 345K in retirement accounts, 40K in emergency fund, and no debts. We start July 1, so we’ll see how good my forecasting has been!
Any other folks who have gone this route or are thinking about it?