Author Topic: It's Official - going "Part Time"  (Read 6589 times)

JoJo

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It's Official - going "Part Time"
« on: January 30, 2017, 06:28:29 PM »
I just took a 30% salary reduction but on the agreement that I work full time much of the year but then take several long vacations thru the year.  So right now have planned 3 weeks, 7 weeks, and 9 weeks vacations!  I was thinking about FIRE this year but I'll liking the work and not sure what's going to happen with health insurance so this is a safe choice.

JoJo

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Re: It's Official - going "Part Time"
« Reply #1 on: January 30, 2017, 06:47:23 PM »
Nice!

Did your employer have any concerns with your proposal? If so, any chance you'd be willing to share the concerns/mitigations?

I'm hoping to go part-time later this year :)

Not alot of concerns.  I've been known for taking 1 month trips in the past.  To take these extended trips you need to have a job where you don't put alot of burden on others while you're gone.  I'm going to have to work hard before each trip to make sure the projects can run without me.  I did agree to check in 1-2 times per week assuming I'm not off the grid, but an hour of responding to e-mails won't bother me so much after spending the day hiking or on the beach.


CCCA

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Re: It's Official - going "Part Time"
« Reply #2 on: January 30, 2017, 09:45:29 PM »
Awesome!
I'm 50% for the year, but use long breaks in the summer (pretty much all of july and aug and some of september) to offset a bit more work during the rest of the year.




HappierAtHome

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Re: It's Official - going "Part Time"
« Reply #3 on: January 30, 2017, 11:41:51 PM »
Congrats! That's awesome!

Koogie

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Re: It's Official - going "Part Time"
« Reply #4 on: February 05, 2017, 08:07:42 AM »
Awesome !  Welcome to semi-RE !

My setup is a little different than yours (I can't take off more than 2 weeks at a time) but I am getting my vacation time up to 8 or 9 weeks this year.  And the rest of the time I only work 3 or 3.5 days a week.

I've been doing it for about a year and a half now.  Probably at least that long to go before full FIRE. We're financially long since ready but this lifestyle suits us and we'll keep padding the nest until it doesn't.
   

Classical_Liberal

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Re: It's Official - going "Part Time"
« Reply #5 on: February 05, 2017, 10:39:55 AM »
Congrat's! 

I'm seeing more and more posts like this and will follow with interest as my plan continues to morph into one of Semi-FIRE as well.

FiveSigmas

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Re: It's Official - going "Part Time"
« Reply #6 on: February 05, 2017, 10:46:03 PM »
Way to go JoJo! Sounds like a terrific exercise of your position of power.

JoJo

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Re: It's Official - going "Part Time"
« Reply #7 on: February 07, 2017, 10:21:51 AM »
There are a few "once in a lifetime" trips that are on my radar and having a job really makes less worry from the money standpoint.  I've definitely discovered over the last years that I can be quite mustachian, but there are occasional things that I like to splurge on.   I still would choose a hostel over a 5 star resort for traveling every time, but if it costs $12,000 to go to antarctica and south georgia island and that's my only choice to get there, might as well go for it.

yyc-phil

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Re: It's Official - going "Part Time"
« Reply #8 on: February 07, 2017, 10:45:26 AM »
Great decision for both you and your employer.

I also went part time last May after my employer had to make significant cuts in its budget. At first, I was shocked by their decision, but then realized I could use this to my advantage, got them to accept that I work remotely, on the condition that I attend our quarterly board meetings in Yellowknife. The best of both worlds, as I was planning to retire by the end of 2016, and now I have a relatively decent salary and all the time to travel slowly and enjoy my newfound freedom. I am presently working on some files, sitting on a beautiful Mexican beach, after having spent the past six months driving very slowly from the NWT through the US Southwest and Mexico. We will soon take the long road back to Canada so I can attend my board meeting at the end of March and make my presentation to my board. We will likely spend the summer back home but will be on the road to Mexico and Guatemala again in September.

thebattlewalrus

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Re: It's Official - going "Part Time"
« Reply #9 on: February 07, 2017, 11:33:38 AM »
Congrats! I still work FT but have been able to work agreements out with management that I have been able to take 3-5 week vacations at a time. It's good that some of us are able to work these kind of arrangements out, after the last 4 week vacation I really wanted to stay away from work but I'm still 8-10 years from RE... :)

JoJo

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Re: It's Official - going "Part Time"
« Reply #10 on: February 07, 2017, 12:00:30 PM »
Great decision for both you and your employer.

I also went part time last May after my employer had to make significant cuts in its budget. At first, I was shocked by their decision, but then realized I could use this to my advantage, got them to accept that I work remotely, on the condition that I attend our quarterly board meetings in Yellowknife. The best of both worlds, as I was planning to retire by the end of 2016, and now I have a relatively decent salary and all the time to travel slowly and enjoy my newfound freedom. I am presently working on some files, sitting on a beautiful Mexican beach, after having spent the past six months driving very slowly from the NWT through the US Southwest and Mexico. We will soon take the long road back to Canada so I can attend my board meeting at the end of March and make my presentation to my board. We will likely spend the summer back home but will be on the road to Mexico and Guatemala again in September.


WOW!  This sounds awesome.  I'm not quite this mobile - it would be impossible with my job.  The 'Stache is big enough retire this year but I'm going to give this part time a go as the work right now is sort of fun. 

acroy

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Re: It's Official - going "Part Time"
« Reply #11 on: February 07, 2017, 12:21:30 PM »
Badass! Congratulations & good luck!!

henri

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Re: It's Official - going "Part Time"
« Reply #12 on: February 07, 2017, 01:02:16 PM »
I did the same for this year. I came to an agreement with my employer that I would work 80% of a full year. This works out to about 185 work days and I can take off any time, without notice. The kicker is I end up making about 85% of my previous after-tax salary. Life is good.

HenryDavid

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Re: It's Official - going "Part Time"
« Reply #13 on: February 08, 2017, 09:47:44 AM »
Am now in year 2 of doing this--planning for one more 70% year, then done.
It has worked out perfectly. Some good points:
-it's a test drive of our 2018 retirement plan. Same net income, mostly the same travel etc.
-it confirmed that it really is time to leave this job soon. Created a fresh perspective on all the stuff I'd been just tolerating for money--a need that's already taken care of, as of now!
-so much more time for biking, gardening, creative projects.
-it creates amusing conversations when people at work say "haven't seen you for a while" and I explain I'm not full time anymore. They don't get it at first. Then they ask "how did you ever work that?" and I say" "I just proposed it." Which allows me to make my favourite point: People have way more freedom and choices than they ever think they have. they just need to notice, and act.

MasterStache

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Re: It's Official - going "Part Time"
« Reply #14 on: February 08, 2017, 11:39:33 AM »
Congrats. Welcome to the party. I'll be doing the same at some point this year.

JoJo

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Re: It's Official - going "Part Time"
« Reply #15 on: February 08, 2017, 11:49:52 AM »
-it creates amusing conversations when people at work say "haven't seen you for a while" and I explain I'm not full time anymore. They don't get it at first. Then they ask "how did you ever work that?" and I say" "I just proposed it." Which allows me to make my favourite point: People have way more freedom and choices than they ever think they have. they just need to notice, and act.

This is totally true - I've been questioned by several people on how this can really be true.  Some saying they would be replaced if they tried something like this.  Like you're point says - you don't know until you ask.

AZDude

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Re: It's Official - going "Part Time"
« Reply #16 on: February 08, 2017, 12:29:39 PM »
Quote
People have way more freedom and choices than they ever think they have.

Absolutely, and so few people seem to understand this.

Classical_Liberal

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Re: It's Official - going "Part Time"
« Reply #17 on: February 08, 2017, 01:54:36 PM »
Quote
People have way more freedom and choices than they ever think they have.

Absolutely, and so few people seem to understand this.

+2

Additionally, progressive taxes really start to hit you at a certain point.  Everyone's different, but for me, a single dude without kids, after 60K I see significant diminishing returns.  I can max out a 401K and IRA, take a standard deduction, but any income over about 60K is taxed at more than a 40% rate (Fed, state, SS, medicare).  That's huge if it's money someone doesn't really need!  I can make that at around half time and have begun to ask myself if it's really worth it to keep plugg'en away.

HenryDavid

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Re: It's Official - going "Part Time"
« Reply #18 on: February 08, 2017, 02:39:04 PM »
Oh, forgot to add another point: re fear of being replaced etc.
My supervisor actually said (wish I had a recording) "your 70% is better than some peoples' 100%."
Nice.
I do think the time at work is more effective and energized thanks to the time off work.
Still stopping in '18 though!

JoJo

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Re: It's Official - going "Part Time"
« Reply #19 on: February 08, 2017, 03:16:54 PM »
Oh, forgot to add another point: re fear of being replaced etc.
My supervisor actually said (wish I had a recording) "your 70% is better than some peoples' 100%."
Nice.
I do think the time at work is more effective and energized thanks to the time off work.
Still stopping in '18 though!

Good point.  For me the motivator is the deadlines.  If there is a big trip coming up, it makes me cut out the unnecessary things and get the project done so I can enjoy my vacation.  No feet dragging!

John Doe

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Re: It's Official - going "Part Time"
« Reply #20 on: February 08, 2017, 06:19:57 PM »
I go to PT (50%) as of April 1.  While I wanted a 60% arrangement I have concerns we can actually make it work so I told my employer I would fully leave a few months later.  I was then offered the 50% arrangement but at about 80% of my pay.   Deal is for a 2 year period.  I guess I'll make it work!

gerardc

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Re: It's Official - going "Part Time"
« Reply #21 on: February 08, 2017, 10:50:42 PM »
That sounds great. I'd be very happy with 2-3 months fully off every year. Those week-long trips every few months just don't cut it. I wouldn't really like the 4 days / week either, I just need a long break to fully disconnect. I probably won't dare asking until I'm very close to FIRE though.

PhoenixHeat

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Re: It's Official - going "Part Time"
« Reply #22 on: February 09, 2017, 07:47:07 AM »
Quote
People have way more freedom and choices than they ever think they have.

Absolutely, and so few people seem to understand this.

Love this! Couldn't agree more.

MasterStache

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Re: It's Official - going "Part Time"
« Reply #23 on: February 09, 2017, 08:12:29 AM »
I haven't officially asked my employer about going part time yet. But I have run the ideal across a couple co-workers who think they will go for it. We have several folks retiring this year and they are already looking for new engineers.

HenryDavid

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Re: It's Official - going "Part Time"
« Reply #24 on: February 11, 2017, 10:23:59 AM »
For you folks that are already working less than full-time are you working fewer days per week, not working certain months, or just have lots of unpaid flexible vacation time?

It sounds like unpaid vacation in most cases (which sounds awesome, I'm just surprised employers were ok with that instead of just a shorter week).

In my case it's not working at all certain months (yes, unpaid vacation), and working part-time, remotely for some others. What happened was that I noticed the employer was encouraging senior, highly-paid people to retire, in the name of cost-savings. I proposed myself for this, but was asked not to retire quite yet--'cause I have "a particular set of skills." (Sounds cooler than it is.) So I proposed cutting back before fully retiring, the office people did the math, and said "what about this 70% of full time deal." Works for me. And all benefits remain in place in the meantime.
The moral of the story is, if you observe your employer's priorities carefully and propose something in line with them, it might well work.

RobFIRE

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Re: It's Official - going "Part Time"
« Reply #25 on: February 13, 2017, 05:21:09 AM »
Good stuff JoJo.

As others have said, understanding how your employer operates (cost model, variability of workload etc.) can mean that there are opportunities that both sides are keen on for more flexible and/or part time working.

clarkfan1979

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Re: It's Official - going "Part Time"
« Reply #26 on: February 18, 2017, 08:55:50 PM »
I just took a 30% salary reduction but on the agreement that I work full time much of the year but then take several long vacations thru the year.  So right now have planned 3 weeks, 7 weeks, and 9 weeks vacations!  I was thinking about FIRE this year but I'll liking the work and not sure what's going to happen with health insurance so this is a safe choice.

How many total hours will you work for the year?

I work around 30 hrs./week for 34 weeks out of the year. This breaks down to 1,020 total hours. If I divide this by 52 weeks, it's 19.61 hrs./week.

Even though my job is full-time with health insurance and pension, it feels like it's part-time because it averages out to be less than 20 hours/week.

JoJo

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Re: It's Official - going "Part Time"
« Reply #27 on: February 20, 2017, 10:05:47 AM »
With my prorated holidays & PTO, I ended up with 104 days off work & 156 days of working.  At 8 hours a day, this is 1248 hours a year.