The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: bsmith on August 20, 2020, 12:04:25 PM
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Hello.
Thinking about taking a second job. It will be part-time, but could be 30 hours a week or more. They have said "no benefits", but I'm still going to ask. I already have health insurance a 457b, and a regular state-run retirement account at my full-time gig.
Question: They have a Simple plan. Can I enroll in that, since I have the 457b and other account at my primary employer? If so, I'm going to join and also ask if they'll do any matching, as they do for full-timers.
What else should I ask for? The hours are extremely flexible, and they know about my other job and are willing to work around it. "No benefits" seems to mean no health insurance and no vacation. It's a very small employer, about ten employees, so there are limits to what they can do.
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I would keep it simple and I wouldn't mix benefits into the negotiations, but you and they should both be on the same page with the understanding that "no benefits" should translate into a higher hourly rate. I'd ask for 25 to 40% more that what a FT employee with benefits would get.
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Hello.
Thinking about taking a second job. It will be part-time, but could be 30 hours a week or more. They have said "no benefits", but I'm still going to ask. I already have health insurance a 457b, and a regular state-run retirement account at my full-time gig.
Question: They have a Simple plan. Can I enroll in that, since I have the 457b and other account at my primary employer? If so, I'm going to join and also ask if they'll do any matching, as they do for full-timers.
What else should I ask for? The hours are extremely flexible, and they know about my other job and are willing to work around it. "No benefits" seems to mean no health insurance and no vacation. It's a very small employer, about ten employees, so there are limits to what they can do.
If the hours are flexible, does that make you a 1099 worker? If yes, you'll have to consider the fact that you'll be paying self-employment tax.
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No, it will be part time, no 1099. I'll punch a virtual clock. I'll negotiate the salary first, then bring up benefits.