Author Topic: Anyone planning to semi-retire??  (Read 4720 times)

jenhunt10

  • 5 O'Clock Shadow
  • *
  • Posts: 1
Anyone planning to semi-retire??
« on: May 06, 2019, 07:40:45 AM »
Long time lurker, first time poster.

Curious to see how many people here are planning to "semi-retire" over full FIRE.

SO and I have plans to scale back work once we are FI, which should be around 40 years old (currently late 20s).  Our goal is to have 25-29 times expenses saved up and a paid off mortgage (to lower yearly expenses) before we call it quits from our schedule-demanding manufacturing-type jobs. 

We want to go RVing and go on extended wilderness backpacking trips immediately after hitting our number. Then, we plan to do seasonal and/or part time work that interests us.  We are more interested in being FI and living a simple and slow life than not working at all.

Is anyone else doing something similar?

YK-Phil

  • Handlebar Stache
  • *****
  • Posts: 1173
  • Location: Nayarit (Mexico)
Re: Anyone planning to semi-retire??
« Reply #1 on: May 06, 2019, 08:37:34 AM »
I am technically too old (61) to FIRE and although I could have FIREd in my fifties, I chose to continue to work mostly because I have a couple of fantastic and well-paid gigs in Arctic Canada, one of which is in the environmental field and now half-time -used to be full-time until a few years ago, that allows me to work remotely half of the year, and the other being a fun part-time job taking persons with disabilities on outings to do camping, canoeing, etc. I sometimes can't believe I am paid to do what I love. In the winter, I take "time off" and work remotely a few hours a week, my wife and I travel overland from Northern Canada to Mexico and Central America in our truck camper. We do mostly dispersed free camping on the beach or in the inland mountain ranges, with the occasional cheap B&B when camping is impractical or we want to explore a larger city for a few days. In the spring, we drive back to Canada, I drop my wife in Southern Canada, then I continue north with my camper and live in it full-time until the fall, although I take house-sitting and pet-sitting gigs here and there. I love my lifestyle, it makes me feel mentally and physically younger and healthier, and I don't have any desire to retire whatsoever.

SpareChange

  • Pencil Stache
  • ****
  • Posts: 710
Re: Anyone planning to semi-retire??
« Reply #2 on: May 06, 2019, 09:51:44 AM »

FIRE Artist

  • Handlebar Stache
  • *****
  • Posts: 1071
  • Location: YEG
Re: Anyone planning to semi-retire??
« Reply #3 on: May 06, 2019, 10:15:32 AM »
I am on a full time temporary position until mid 2021 when I could fire, but I have been putting out some feelers for something part time after that.  Just this morning a former colleague told me he would have a part time position ready for me when that time comes. I am also already putting the word out with my current employer.  Too far away to count on, but I think that the universe will deliver for me on this one.  And if nothing shows up, I can still FIRE at whatever spending level my stash allows for. 

I fully admit that the closer I get to FIRE, the more the "what ifs" fear is starting to set in.  Part time work for a couple of years will go far to alleviate the fears, squash the naysayers, and still let me make headway into what I expect to be doing with my time post FIRE - be a full time working artist by the time I am 50. 

2sk22

  • Handlebar Stache
  • *****
  • Posts: 1504
Re: Anyone planning to semi-retire??
« Reply #4 on: May 06, 2019, 11:05:20 AM »
I'm planning to switch from full time software development to teaching. I read recently that there is a real shortage of computer science instructors so I feel reasonably certain I'l be able to find something to do in this regard. I just need to get started looking - which will be soon.

@yyc-phil Your down-shifted job sounds amazing!

BigMoneyJim

  • Bristles
  • ***
  • Posts: 368
  • Age: 54
  • Location: Nomadic retiree in the Rockies
    • Jim's Personal Finance Blog
Re: Anyone planning to semi-retire??
« Reply #5 on: May 06, 2019, 06:25:01 PM »
I've been trying to figure out how. The past 2-3 years a job change sparked outside of my control got me looking closer into how close retirement is, what that looks like and ways to bridge the rest of the way there.

In theory I'd love to work part-time or sporadically, but it became clear I can't just work half or a quarter as much and make half or a quarter the income. Also, enterprise devops, production support, and automation doesn't necessarily scale down well to small business/entrepreneur consulting.

Plus, an also-laid-off coworker found me a good full-time gig, so for now I'm raking in the dough while the getting is good.

But I'm really, really tired of working 49-50 weeks out of every year, and I'm pretty sure I don't have to anymore, but while I planned out retirement saving and withdrawal strategies, I only recently started trying to figure out whether I can downshift effectively and if I'd rather do that.

beer-man

  • Stubble
  • **
  • Posts: 121
Re: Anyone planning to semi-retire??
« Reply #6 on: May 06, 2019, 06:54:25 PM »
I’m actually not really interested in retiring at all till our kids are out of the house which is at least another 15yrs. I tend to naturally work 50-60hr weeks so backing down/part time will likely look like 30-40hrs


Sent from my iPhone using Tapatalk

Caroline PF

  • Stubble
  • **
  • Posts: 120
Re: Anyone planning to semi-retire??
« Reply #7 on: May 09, 2019, 09:08:25 AM »
I'm semi-retired, as I just cut back to 60% time. I chose this over full FIRE for several reasons:

- uncertainty with healthcare in the US right now
- wanting to start retired lifestyle now
- more financial safety by continuing to earn an income while testing out the actual cost of my desired lifestyle

So far, it's working well.

Brother Esau

  • Pencil Stache
  • ****
  • Posts: 648
Re: Anyone planning to semi-retire??
« Reply #8 on: May 09, 2019, 09:41:48 AM »
Sort of...At 50 I switched from a private industry job to a chill 35 hr/wk municipal job. A year later at 46, the DW left a high stress job to do part time free lance work. We are both so much more content now. I must say that we both generally enjoy our work.

Just before the job changes we also committed to annual (spendy pants by MMM standards) european vacations.

Not planning to RE but we are FI and life is really good now and should easily be able to check out completely if we choose by 60 for me and 55 for her.
« Last Edit: May 09, 2019, 09:46:03 AM by Brother Esau »

Paul der Krake

  • Walrus Stache
  • *******
  • Posts: 5854
  • Age: 16
  • Location: UTC-10:00
Re: Anyone planning to semi-retire??
« Reply #9 on: May 09, 2019, 09:54:32 AM »
Yes. Not sure what I'll do yet. Don't care.

Junco

  • 5 O'Clock Shadow
  • *
  • Posts: 41
Re: Anyone planning to semi-retire??
« Reply #10 on: May 09, 2019, 10:03:09 AM »
I'm still 9 years out but that I plan to do something similar. Once I hit ~$500,000 NW or 40 years old, I plan to FIRE even if my stache is somewhat lean. $500k should be enough to cover my expenses, especially if I move to a M/LCOL area from my current HCOL area. I thru-hike the AT and PCT in my 20's and that was the best experience of my life (and is very cheap to do versus living at home). I want to thruhike more and travel the world cheaply in my 40's and rent affordable places along the way (or have no housing costs if I'm backpacking). I don't want to have to work a full time job from 40 onward but I'll probably pick up hobby jobs or pursue my old small business if it sounds fun and I want some extra spending money.

Getting married to my GF or having kids may affect this plan somewhat but that's my long term plan.

kashi_peach

  • 5 O'Clock Shadow
  • *
  • Posts: 2
Re: Anyone planning to semi-retire??
« Reply #11 on: May 09, 2019, 06:13:01 PM »
I'm in my 30s and semi retired. Just saved every penny and now I just consult a few hours/month

JoJo

  • Handlebar Stache
  • *****
  • Posts: 1851
Re: Anyone planning to semi-retire??
« Reply #12 on: May 09, 2019, 07:03:40 PM »
I've done it a few ways:

* Age 31-33 quit and traveled the world
* Age 40 took a leave of absence for 12 week trip across central asia.
* Last 3 years have reduced to a special type of part-time.  I reduced pay to 62.5%, but when I'm in town I work full time and then every couple months I take 3-8 weeks off. 
* I'm considering retiring but offering to consult a couple months a year. 

mtnrider

  • Pencil Stache
  • ****
  • Posts: 519
  • Location: Frozen tundra in the Northeast
Re: Anyone planning to semi-retire??
« Reply #13 on: May 09, 2019, 08:00:45 PM »

I'd really like to, because I enjoy my job (heresy!) but there are so many things I want to do before I get too old.

Now I just have to figure out how an engineer could semi-retire.

damyst

  • Stubble
  • **
  • Posts: 199
  • Age: 47
  • Location: Canada
Re: Anyone planning to semi-retire??
« Reply #14 on: May 10, 2019, 01:21:53 AM »
I've been trying to figure out how. The past 2-3 years a job change sparked outside of my control got me looking closer into how close retirement is, what that looks like and ways to bridge the rest of the way there.

In theory I'd love to work part-time or sporadically, but it became clear I can't just work half or a quarter as much and make half or a quarter the income. Also, enterprise devops, production support, and automation doesn't necessarily scale down well to small business/entrepreneur consulting.

Plus, an also-laid-off coworker found me a good full-time gig, so for now I'm raking in the dough while the getting is good.

But I'm really, really tired of working 49-50 weeks out of every year, and I'm pretty sure I don't have to anymore, but while I planned out retirement saving and withdrawal strategies, I only recently started trying to figure out whether I can downshift effectively and if I'd rather do that.

Similar story here. Having to count precious annual vacation days, while the company showers me with money I can't use, is just ridiculous.
I'm leaving that scene next year to bootstrap my own business. I won't do consulting or contracting, but rather develop and market my own products. I'm okay earning effectively zero for a year or three - we can easily afford it.

SpareChange

  • Pencil Stache
  • ****
  • Posts: 710
Re: Anyone planning to semi-retire??
« Reply #15 on: May 11, 2019, 01:37:07 PM »
Yes. Odds are I'm dropping to PT in the next couple of months. I told my manager recently I'd like to work 5 days on/9 days off. The career is very stable and flexible as far as scheduling goes. I'm not FI yet, so I will still make good efforts in that direction...just more diffused over time.

Ocinfo

  • Bristles
  • ***
  • Posts: 313
Re: Anyone planning to semi-retire??
« Reply #16 on: May 11, 2019, 03:56:03 PM »
Yes. Fortunate to have a job that allows and generally encourages working part-time as most people work on multiple projects at once so instead of working 4 projects I’ll work on 2. Will be making this change in about 3 years at age 36 with about 75% of my FIRE target. Will maintain same hourly pay and full benefits so likely keep doing this for about 10 years.


Sent from my iPhone using Tapatalk

scottish

  • Magnum Stache
  • ******
  • Posts: 2716
  • Location: Ottawa
Re: Anyone planning to semi-retire??
« Reply #17 on: May 11, 2019, 06:12:51 PM »
Yeah, although I'm not sure my semi-retirement will make much money.

I can't see my job working on a part time basis, so my nominal plan is to reactivate our dormant s/w company and work interesting projects that also make a bit of cash.   This sounds similar to what damyst posted above...

Retiring gaijin

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Anyone planning to semi-retire??
« Reply #18 on: May 12, 2019, 04:41:57 AM »
I have cut down to four days a week and will probably whittle that down a bit more until I get to full retirement in about 4-5 years (I hope). What I will say is that while it has only been a few months so far, the benefits to my mental health have been great. I feel so much less stressed than I did.

OurFirstFire

  • 5 O'Clock Shadow
  • *
  • Posts: 57
Re: Anyone planning to semi-retire??
« Reply #19 on: May 12, 2019, 07:23:52 AM »
After I quit megacorp my family of four could have lived off 3% but I've always wanted to gain more skill and bonafides as a software developer.  I started contracting for a company under my Dad which pretty quickly turned into me working 20-30 hours a week and my semi-retired dad just working when I called him with a question or problem.  It's been a blast and nice no pressure schedule.  Being FI is great combination with being a contract employee.  A few times they have come to me all chagrined saying "because of budget constraints we have to furlough all contractors for a couple months" and I just think "Great!  A nice break to take care of some woodworking projects."  I think my indifference to the paycheck swings that come with the ups and downs really confuses everyone.

Cassie

  • Walrus Stache
  • *******
  • Posts: 7946
Re: Anyone planning to semi-retire??
« Reply #20 on: May 12, 2019, 12:43:09 PM »
I retired at 58 and 6 months later was working part time in a different profession. Sadly the job ended after 6 years. Now at 65 doing some consulting.

BussoV6

  • Bristles
  • ***
  • Posts: 287
  • Location: Egoli
Re: Anyone planning to semi-retire??
« Reply #21 on: May 13, 2019, 01:14:02 AM »
Yes, I definitely plan to semi-retire. I'll do some short-duration consulting work in my field with hopefully long breaks between jobs.

OrangeSnapDragon

  • 5 O'Clock Shadow
  • *
  • Posts: 30
Re: Anyone planning to semi-retire??
« Reply #22 on: May 13, 2019, 12:28:11 PM »
Yes! 

SO and I will likely move from two full times jobs to two part times jobs around age 38 (currently 32).  We have 7 rental units across 3 properties that will all be paid off by then and they will net us all living expenses. However, we want to continue to put money away for future security and for extra 'fun' money.

Another motivation for semi-fire is the freedom to work in some fields that won't necessarily pay much but which I would like to learn more about such as horticulture and aquaponics. My SO actually enjoys bartending and will likely do that a couple night a week at a local restaurant.

We would also like to explore the option of our own small wood milling business by obtaining smaller free limbs/trunks, milling down with a chainsaw and kiln drying. We have already done some chainsaw milling and both really enjoy the entire process.  May also renovate a house or two and 'flip'.

I think semi-fire is an excellent option for a lot of people who want to keep trading some of their time for additional freedom at a younger age.

Good luck :)

Nangirl17

  • Stubble
  • **
  • Posts: 195
Re: Anyone planning to semi-retire??
« Reply #23 on: May 14, 2019, 07:38:21 AM »
My husband and I work part time/are semi-retired. He works 3 days/wk and I work 4 days/wk (I'd vastly prefer 3). Unless our lives wildly change, we won't go back to working full time. (Our workplaces don't know this - DH's manager in particular thinks it's a temporary arrangement, but if they insist on FT hours, we'll quit).

We do this to have more time with our family (we homeschool for now), and to have less stress in our lives.


cliner

  • 5 O'Clock Shadow
  • *
  • Posts: 36
Re: Anyone planning to semi-retire??
« Reply #24 on: May 14, 2019, 09:59:34 AM »
I've been thinking about going 60-70%. I work in health care doing home visits. My hours are usually 9-6:30/7, seeing 8-9 patients a day, paid per visit, plus extra for performing supervisor/mentor responsibilities. It's a lot of driving (fuel and tolls add up). The work is fulfilling, but draining. We just had our first child in March, so I've been thinking about scaling that back to 10-4 and seeing only 5 or 6 patients each day. I'm on track to make the most money I've ever made, by about 30%. The main disadvantage I see is I would be delaying our FIRE date by taking fewer patients. Still, I'm leaning toward dropping my hours, since that would have multiple advantages:
More time with the baby (I get a lot of time with her now in the evenings, but more is better. Plus the DW could use the help)
More sleep (Tired in the mornings, drained in the evenings)
More time for workouts, hobbies, housework/chores etc.

I'd been thinking, if I'm working toward FIRE so I can have more free time to do more of the things I really enjoy, why not just do it now? I'd still be making good money, but delaying 100% FIRE. Anyone have similar thoughts?

Brother Esau

  • Pencil Stache
  • ****
  • Posts: 648
Re: Anyone planning to semi-retire??
« Reply #25 on: May 14, 2019, 10:25:36 AM »
I'd been thinking, if I'm working toward FIRE so I can have more free time to do more of the things I really enjoy, why not just do it now? I'd still be making good money, but delaying 100% FIRE. Anyone have similar thoughts?

Yes! It's amazing how I never find myself thinking "oh, I don't have time for that". I have time for just about everything now....taking care of the house, hobbies, managing finances, etc, etc

Classical_Liberal

  • Handlebar Stache
  • *****
  • Posts: 1171
  • Age: 47
Re: Anyone planning to semi-retire??
« Reply #26 on: May 15, 2019, 03:57:00 AM »
In about 4 months.

wenchsenior

  • Magnum Stache
  • ******
  • Posts: 3798
Re: Anyone planning to semi-retire??
« Reply #27 on: May 15, 2019, 07:21:06 AM »
DH won't be RE. He didn't start a career track job until he was in his late 30s already; and if he retired, he'd just spend our money doing the more fun parts of what he gets paid to do now (biologist).  I am younger, so could retire somewhat early, but plan to stay part time employed (hopefully doing something more fun) starting around 50.  This is mainly so I can afford to self fund for potential health care costs/Long Term Care costs (for which I'm not insurable at any reasonable price).

We have discussed ideas for DH to work some of his more specialized skills into a side-gig type of job if he does want to retire. That is influencing our discussion of where to live in retirement for sure.

JTColton

  • 5 O'Clock Shadow
  • *
  • Posts: 34
Re: Anyone planning to semi-retire??
« Reply #28 on: May 15, 2019, 07:49:17 AM »
When I retire from the military next spring, I don't plan on jumping back into the rat race ever again. Pension will cover basic expenses and Ill get health care for the fam so really no point to it. Might learn a trade and start my own business.

 

Wow, a phone plan for fifteen bucks!