Author Topic: Part-time dream job turning out to be more difficult than I thought WWYD  (Read 4864 times)

Giro

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So, I recently became an independent contractor (1099) full time on a new contract for two years.  I should be able to retire after the two years.  My old company didn't want to lose me, so they put me on a part-time contract for 10 hours a week also as an independent 1099 contractor.  Initially it looked like I could work remotely on the part time contract.  Now, I am training for the part-time work and also doing my full time contract work.  For training, I obviously need to be in the office.  I am flexing my time on the new contract to train for the part time work(it's working with the holidays and everyone being out of the office). 

Now the problems that are arising...

The owner of the old company (who practically begged me to stay on part time) is now saying he likes the independent contractors to be in the office at least once a week.  I didn't like the insinuation that I would rip him off for hours, but anywho....   I can't really accommodate that every week.  My full time gig is 9 hours per day and off 1 day every other week.  I can choose which day.  I can go to the part time job every other week for that day off.  I cannot get another day off to go down to the part time job without affecting my full time job (which has a much better bill rate).

I spoke to DH and he thinks once I get trained up, they will probably be okay with me only coming in to the office every other week.  They will realize that I'm basically always available (even if only part time) because I have all of my emails and workflow coming through one email address.  I can respond very quickly to both jobs. 

I am really on the fence over this.  They part time job is easy money for sure.  I edit documents and use about 10% of my brain power.  It's stupid easy.  I would totally do it from my full time job during breaks if they would allow that. 

Assuming I can negotiate the 1 day every other week instead, I don't know that I want to give up my off day.  I am on a compressed schedule to get a 3 day weekend every other weekend.  I haven't even started the schedule yet and I'm already giving up my freebie day.  :((((  BOO

I don't really need the money.  My DH did help me get a very expensive car for Christmas and I now I have to pay off the loan, but it doesn't affect my FIRE date.  If I kept the part time gig, I would throw that money at the car note.  The part time gig will bring in $2400 per month.  My car note is $950. 

With my estimates of my full time gig only, I should be able to invest $95K this year.  My DH should be able to invest another $90K or so. 

Would you give up the part time gig or just see what happens after a few weeks.  Maybe try and talk everyone into just letting me work 100% remotely?? 

Would you just quit and leave well enough alone?  I love the full time job.  I love the work.  It's in my field of expertise, It's what I enjoy, the coworkers are super nice, it pays enough to get me to my goals....etc

BUT BUT BUT  easy money.......

pbkmaine

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #1 on: December 22, 2016, 02:39:18 PM »
Say: "Sorry. My availability for the contract is remote only. I could possibly come in once per month for half a day, but no more. If this is a problem, let's part friends."

BigRed

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #2 on: December 22, 2016, 02:44:53 PM »
Your old company begged you to stay on 10 hours a week.  You save $185k per year. 

What's in it for you to do the part-time gig if causes such headaches? 

Quote
BUT BUT BUT  easy money.......

It's not easy.  You have to give up your day off, you're worrying about it, it's causing you stress.  Either re-negotiate the terms to make it easy, or tell them to get lost.  You have enormous power here, you should use it.  Being able to make these kinds of decisions is the whole point of getting to FIRE.  You should practice exercising that freedom now.

ender

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #3 on: December 22, 2016, 02:49:28 PM »
A $950 car note? Per month?

Why not... sell the car, quit the part-time job, and get something considerably cheaper. Then when you FIRE in two years your financial situation is about the same.

mskyle

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #4 on: December 22, 2016, 02:51:04 PM »
Your old company begged you to stay on 10 hours a week.  You save $185k per year. 

What's in it for you to do the part-time gig if causes such headaches? 

Quote
BUT BUT BUT  easy money.......

It's not easy.  You have to give up your day off, you're worrying about it, it's causing you stress.  Either re-negotiate the terms to make it easy, or tell them to get lost.  You have enormous power here, you should use it.  Being able to make these kinds of decisions is the whole point of getting to FIRE.  You should practice exercising that freedom now.

Seriously - this doesn't sound remotely worth it. And I say this as someone who worked six days a week for years, but I really loved my sixth-day job and the people I worked with there.

Draw some boundaries. If you're willing to come in to the office for the training but not after that, make that clear right now: "I can come in one day a week until [date] but after that I am only interested in working remotely. If that doesn't work for you, I understand."

They wanted you bad enough to retain your as a contractor. It sounds like they need you way more than you need the work; you have loads of negotiating power here! Use it!

humbleMouse

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #5 on: December 22, 2016, 03:24:25 PM »
Is the car note actually $950/month?  Are you driving a ferrari? 

Johnez

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #6 on: December 22, 2016, 03:58:17 PM »
A $950 car note? Per month?

Why not... sell the car, quit the part-time job, and get something considerably cheaper. Then when you FIRE in two years your financial situation is about the same.

This, wow. It sounds like hubby gifted you an albatross.

Dave1442397

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #7 on: December 22, 2016, 06:25:34 PM »
Is the car note actually $950/month?  Are you driving a ferrari?

That would be a very cheap Ferrari. I priced out a 2017 Lexus LS460 L earlier today, and with 0.9% financing for 60 months with no money down the payment was over $1650/month.

bacchi

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #8 on: December 22, 2016, 07:28:52 PM »
The owner of the old company (who practically begged me to stay on part time) is now saying he likes the independent contractors to be in the office at least once a week.

That's behavioral control.

https://www.irs.gov/businesses/small-businesses-self-employed/behavioral-control

Quote from: irs
An employee is generally subject to the businessís instructions about when, where, and how to work. All of the following are examples of types of instructions about how to do work.

    When and where to do the work.

Say "no." If the owner balks and fires you, file form SS-8 to claim yourself as an employee.

waltworks

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #9 on: December 22, 2016, 07:36:05 PM »
There is so much WTF here I hardly know what to say...

-You want to make yourself miserable for a measly $30k side job a year, when you get paid a TON for your normal gig?
-Your DH "gave" you a car that you... have to pay for?
-You will be FIRE in 2 years regardless? Sounds like you might be FIRE now if it weren't things like a $1k/mo car...

Maybe should have posted in the antimustachian shame/comedy forum...

-W


Giro

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #10 on: December 22, 2016, 08:11:25 PM »
There is so much WTF here I hardly know what to say...

-You want to make yourself miserable for a measly $30k side job a year, when you get paid a TON for your normal gig?
-Your DH "gave" you a car that you... have to pay for?
-You will be FIRE in 2 years regardless? Sounds like you might be FIRE now if it weren't things like a $1k/mo car...

Maybe should have posted in the antimustachian shame/comedy forum...

-W

I'm a car person.  I don't like vacations, I don't have expensive homes, clothes, or jewelry.  I have cars.  My DH didn't give me the car, he helped me buy it.  I was planning to buy the car when I retired.  We agreed that I could just get it now, and he gifted me 25k for the down payment.  It's a Nissan GT-R and it's my dream car.

Yes, I acknowledge completely that's it's anti-mustachian. 

We are already FIRE.  DH wants to do 4 more years at his job to get a bigger pension.  I want to do this last contract because it's a super sweet job that I enjoy. 

« Last Edit: December 22, 2016, 08:18:03 PM by Giro »

waltworks

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #11 on: December 22, 2016, 08:21:25 PM »
Super sweet job you are doing and don't care about the money - so why are you asking us?

If it was so sweet, and you're FIRE (I'll quote your original post here, too: "I should be able to retire after the two years.") why the hell would you be doing something that stresses you out for more (useless) money? And if you're FIRE, why finance the car? I'd be annoyed with making payments, just pay for it with cash.

The whole situation makes no sense. Are you FI or not? If you are, do whatever makes you the most happy. If you aren't, consider how much stress you're willing to deal with for $30k/year (probably not much, I'd imagine) and either quit the side gig or don't.

-W
« Last Edit: December 22, 2016, 08:30:30 PM by waltworks »

Playing with Fire UK

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #12 on: December 22, 2016, 11:46:21 PM »
Are you certain that answering emails from your part-time gig while working for your full time gig isn't going to jeopardise the full time gig? My work would not be okay with that. I get that it's different for different companies.

How many hours do the other PT contractors do? Spending one day a week in an office sounds more like a PT job than a contract. If they are doing more hours than you perhaps the owner would be fine with you doing less. Or at least tolerate it.

Villanelle

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #13 on: December 23, 2016, 12:57:39 AM »
I would set terms with which I was fairly comfortable, and if they don't like it, leave. "Oh, I was under the impression this was a remote position.  I can come in for one 6 hour day every 4 weeks, but beyond that, I don't have availability to come to the office  I can turn in a bi-weekly list of my hours worked from home, if that helps.  If that's a problem and this is no longer going to work out, I completely understand."  And I'd do it now, since the issue came up now.  I think waiting until you are trained and then balking at the terms he has already mentioned is kind of a dick move.  But up front about it, especially because you don't need this job. 

Tjat

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #14 on: December 23, 2016, 06:06:53 AM »


I'm a car person.  I don't like vacations, I don't have expensive homes, clothes, or jewelry.  I have cars.  My DH didn't give me the car, he helped me buy it.  I was planning to buy the car when I retired.  We agreed that I could just get it now, and he gifted me 25k for the down payment.  It's a Nissan GT-R and it's my dream car.

Yes, I acknowledge completely that's it's anti-mustachian. 

Tell your boss you drive a GTR. No way he wants a contract employee rolling up in that. All his employees will be asking for raises

2Birds1Stone

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #15 on: December 23, 2016, 06:29:15 AM »
There is so much WTF here I hardly know what to say...

-You want to make yourself miserable for a measly $30k side job a year, when you get paid a TON for your normal gig?
-Your DH "gave" you a car that you... have to pay for?
-You will be FIRE in 2 years regardless? Sounds like you might be FIRE now if it weren't things like a $1k/mo car...

Maybe should have posted in the antimustachian shame/comedy forum...

-W

I'm a car person.  I don't like vacations, I don't have expensive homes, clothes, or jewelry.  I have cars.  My DH didn't give me the car, he helped me buy it.  I was planning to buy the car when I retired.  We agreed that I could just get it now, and he gifted me 25k for the down payment.  It's a Nissan GT-R and it's my dream car.

Yes, I acknowledge completely that's it's anti-mustachian. 

We are already FIRE.  DH wants to do 4 more years at his job to get a bigger pension.  I want to do this last contract because it's a super sweet job that I enjoy.

Got rid of the GT500?

Imustacheyouaquestion

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #16 on: December 23, 2016, 06:39:13 AM »
I suggest you drive the GTR down to the local library and check out a copy of "Your Money or Your Life." The math of the "easy money" may look different when you realize the true costs of the second job - no day off, stress with boss over remote work, etc. Second, if you'd use the second job money to pay down your car loan, it doesn't sound like you have a second job just for the extra money, it actually sounds like you have a second job to pay for the car.

Giro

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #17 on: December 23, 2016, 06:52:19 AM »

Got rid of the GT500?

for shame!!! No, I love the Shelby!!  The Shelby is a monster on a straight track but needs 1/8 to catch up with it's slow start (even with launch control, the GT-R smokes it off the line). The GT-R takes off like a jet.  Seriously, it is phenomenal! And around corners, it kills it.

I have the Shelby registering 700hp at the wheel.  I'm replacing the mid pipe on the GT-R and the DH and I are going to put on a bolt on pipe that will give it a few extra HP and make it a few pounds lighter. 

Weeeee


As far as the part time contract, I'm really thinking it's not worth it at all now.  And maybe it is a dick move.  I've been honest with the owner.  We sat down and discussed it and he asked me to stay through the holidays and do the training. 

Super sweet job you are doing and don't care about the money - so why are you asking us?

If it was so sweet, and you're FIRE (I'll quote your original post here, too: "I should be able to retire after the two years.") why the hell would you be doing something that stresses you out for more (useless) money? And if you're FIRE, why finance the car? I'd be annoyed with making payments, just pay for it with cash.

The whole situation makes no sense. Are you FI or not? If you are, do whatever makes you the most happy. If you aren't, consider how much stress you're willing to deal with for $30k/year (probably not much, I'd imagine) and either quit the side gig or don't.

-W

The car loan is 0.9%.  I couldn't pass that up.  I could move some money and pay it off, but my money is making more where it is.  It's the only loan we have besides a rental mortgage. 

I know expensive cars do not make sense to most folks on this board, but it truly is what I like. 

I shouldn't have mentioned the car loan.

I guess it does come down to greed a little.  I sit at the full time job at times waiting for folks or whatnot thinking that I could be making more money by doing something chargeable in the downtime.  That mentality probably got worse when I became an independent contractor and starting viewing all of my hours as potential income. 



« Last Edit: December 23, 2016, 06:58:36 AM by Giro »

ender

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #18 on: December 23, 2016, 06:57:23 AM »
I know expensive cars do not make sense to most folks on this board, but it truly is what I like. 

I shouldn't have mentioned the car loan.

I guess I don't understand what advice you want then. A new GTR has MSRP starting at $109k.

Given that you bought one (whether new or used) it seems your value system is different than most of this board, so what sort of advice are you expecting to get?

Honestly, if you save $95k/year at your main job, just work another few months longer and ditch the side gig. You'll come out way ahead anyways (not sure if "bring in $2400" is after tax or before tax, but if it's before tax it means you realistically would only need to work a few more months, after tax maybe 5?).

Giro

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #19 on: December 23, 2016, 07:33:02 AM »
I know expensive cars do not make sense to most folks on this board, but it truly is what I like. 

I shouldn't have mentioned the car loan.

I guess I don't understand what advice you want then. A new GTR has MSRP starting at $109k.

Given that you bought one (whether new or used) it seems your value system is different than most of this board, so what sort of advice are you expecting to get?

Honestly, if you save $95k/year at your main job, just work another few months longer and ditch the side gig. You'll come out way ahead anyways (not sure if "bring in $2400" is after tax or before tax, but if it's before tax it means you realistically would only need to work a few more months, after tax maybe 5?).

That's totally fair.  I shouldn't have mentioned the car because all of the emphasis turned to that.  I was just wondering if the side job was worth it in other's minds.  My DH thinks it's super easy money and I just need to figure out the logistics of doing both jobs.  He and I disagree on the value of time off quite frequently.  Other than cars, we are extremely frugal but he sees the potential of making A LOT of money so passing up what five years ago we would have both considered really good money is unheard of for him.  And me too if I'm being honest with myself. 


ender

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #20 on: December 23, 2016, 07:44:14 AM »
That's totally fair.  I shouldn't have mentioned the car because all of the emphasis turned to that.  I was just wondering if the side job was worth it in other's minds.  My DH thinks it's super easy money and I just need to figure out the logistics of doing both jobs.  He and I disagree on the value of time off quite frequently.  Other than cars, we are extremely frugal but he sees the potential of making A LOT of money so passing up what five years ago we would have both considered really good money is unheard of for him.  And me too if I'm being honest with myself.

You guys are saving $185k/year. That's $15.4k/month, which means that if your $2.4k is after tax, you can work ~4 more months ($61.6k more) and make more than what you'd make over two years at your $2.4k/month job ($57.6k).

It seems like a no brainer to me to ditch the part time job. Yeah, it's super easy money. There are plenty of sources of super easy money (not buying the car is one of them too). Your luxury and first world problem is picking which you want to have.

Imustacheyouaquestion

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #21 on: December 23, 2016, 08:17:55 AM »

I guess it does come down to greed a little.  I sit at the full time job at times waiting for folks or whatnot thinking that I could be making more money by doing something chargeable in the downtime.  That mentality probably got worse when I became an independent contractor and starting viewing all of my hours as potential income.

Have you thought about how this mentality will affect your ability to retire early? Retiring early necessarily means giving up the opportunity to earn more money (because you're exchanging it for free time). If you're already FIRE, why are you interested in earning more money? What does it buy you? Why do you want more if you've already stockpiled enough? Thinking through that might be a useful exercise for you.

mm1970

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #22 on: December 23, 2016, 08:45:48 AM »
So, I recently became an independent contractor (1099) full time on a new contract for two years.  I should be able to retire after the two years.  My old company didn't want to lose me, so they put me on a part-time contract for 10 hours a week also as an independent 1099 contractor.  Initially it looked like I could work remotely on the part time contract.  Now, I am training for the part-time work and also doing my full time contract work.  For training, I obviously need to be in the office.  I am flexing my time on the new contract to train for the part time work(it's working with the holidays and everyone being out of the office). 

<snip>

I don't really need the money.  My DH did help me get a very expensive car for Christmas and I now I have to pay off the loan, but it doesn't affect my FIRE date.  If I kept the part time gig, I would throw that money at the car note.  The part time gig will bring in $2400 per month.  My car note is $950. 

<snip>
BUT BUT BUT  easy money.......

I want that part time job!  How can I get it?  I can edit documents!

(Not really.  I'm plenty busy with the husband, kids, family, full time job.  But it would be tempting.)

Sweet looking car.  And I'm not a car person.
« Last Edit: December 23, 2016, 08:49:21 AM by mm1970 »

waltworks

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #23 on: December 23, 2016, 08:48:54 AM »
If you really like things that go fast, go get a used shifter kart for a grand or two. It'll absolutely smoke your wondercar in every conceivable situation, it's darn safe, and racing it is cheap and fun. You can pull it around on a $500 trailer behind a $3k civic and quit your job right now to become an awesome driver...

Seriously, good luck with your decision. It sounds like you have a lot of thinking to do about what you want out of life.

-W

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #24 on: December 23, 2016, 09:18:12 AM »

It is hard to convert an employee relationship to a business relationship. As a part time contractor, now you are an owner of your "company" and your old boss is now a customer.  The post about setting boundaries is on the right track as this new relationship has different boundaries. Sometimes the transition works sometimes it doesn't.

How much you do to please this guy is a business decision.  Is it worth the hassle? if not raise rates. As a contractor you should be able to set when you show up in the office, but showing up with some frequency for in person discussion of the work is a reasonable requirement by the customer. (that doesn't mean you have to agree to it)  Showing up X times a month is also a business development activity with the old company... real people are easier to interact with.

If you want to keep him as a part time customer after your main gig ends, its worth the hassle to show up.

 It sounds like the main priority is keeping the full time customer happy and the old boss/part time customer should be secondary to that.  Currently I'm leaning towards use the new year to raise rates on the part time guy, hold the line on no site visits and see what happens.

With multiple customers bidding your services up, you're doing something right!


Playing with Fire UK

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #25 on: December 23, 2016, 09:34:58 AM »
How much you do to please this guy is a business decision.  Is it worth the hassle? if not raise rates.
...
 It sounds like the main priority is keeping the full time customer happy and the old boss/part time customer should be secondary to that.  Currently I'm leaning towards use the new year to raise rates on the part time guy, hold the line on no site visits and see what happens.

Yes. Your boss gets to make you dance with 'I like you to be in the office'. Your most important customer may do. Your smallest customer doesn't.

Villanelle

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #26 on: December 23, 2016, 11:17:04 AM »

Got rid of the GT500?

for shame!!! No, I love the Shelby!!  The Shelby is a monster on a straight track but needs 1/8 to catch up with it's slow start (even with launch control, the GT-R smokes it off the line). The GT-R takes off like a jet.  Seriously, it is phenomenal! And around corners, it kills it.

I have the Shelby registering 700hp at the wheel.  I'm replacing the mid pipe on the GT-R and the DH and I are going to put on a bolt on pipe that will give it a few extra HP and make it a few pounds lighter. 

Weeeee


As far as the part time contract, I'm really thinking it's not worth it at all now.  And maybe it is a dick move. I've been honest with the owner.  We sat down and discussed it and he asked me to stay through the holidays and do the training. 

Super sweet job you are doing and don't care about the money - so why are you asking us?

If it was so sweet, and you're FIRE (I'll quote your original post here, too: "I should be able to retire after the two years.") why the hell would you be doing something that stresses you out for more (useless) money? And if you're FIRE, why finance the car? I'd be annoyed with making payments, just pay for it with cash.

The whole situation makes no sense. Are you FI or not? If you are, do whatever makes you the most happy. If you aren't, consider how much stress you're willing to deal with for $30k/year (probably not much, I'd imagine) and either quit the side gig or don't.

-W

The car loan is 0.9%.  I couldn't pass that up.  I could move some money and pay it off, but my money is making more where it is.  It's the only loan we have besides a rental mortgage. 

I know expensive cars do not make sense to most folks on this board, but it truly is what I like. 

I shouldn't have mentioned the car loan.

I guess it does come down to greed a little.  I sit at the full time job at times waiting for folks or whatnot thinking that I could be making more money by doing something chargeable in the downtime.  That mentality probably got worse when I became an independent contractor and starting viewing all of my hours as potential income.

I only think it's a dick move if you are aware he wants weekly site visits you have little to no intention of actually doing them, and you don't mention it until after training.  I can't tell for sure from your post, but if you told him you aren't doing weekly site visits (or better yet, told him exactly what you are willing to do as your most generous bottom line) and he still wants you to train, even if the actualy agreement on site time isn't 100% clarified, then that's on him.  If you end up quitting after training because you can't come to an agreement, as long as he knew you weren't initially willing to meet his terms and he  agreed to have you continue training, that means he took a risk that you'd come around, and if his risk didn't pay off (when you don't change your mind), that's his gamble that didn't pay off, and there's nothing dickish about it on your part.  It may sour the relationship going forward, but if you aren't going to look to work for him--or anyone else!--again in the future, that matters not at all. 

nexus

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #27 on: December 23, 2016, 12:45:49 PM »
+1 for Nissan GTR. Also my dream car. Might do the same if I was in your shoes, but not take a second PT job. I'd rather be out driving that sucker on my days off. What color did you get? :D
« Last Edit: December 23, 2016, 12:52:47 PM by nexus »

lhamo

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Re: Part-time dream job turning out to be more difficult than I thought WWYD
« Reply #28 on: December 23, 2016, 01:44:35 PM »
You might find it helpful to read the book "Necessary Endings" by Henry Cloud.  It has a lot of good discussions of how to set boundaries and when to call it quits.  I found it very helpful when I was considering the possibilities of part-time contracting after I left my last employer.  I decided that even if they offered a contract (which, in the end, they did not), I would not accept it.    My freedom has been priceless.