More "me time". I've changed my plan

Goal: To be able to afford to go part time when I turn 55 which is in around 15 years time.

I've already started looking at jobs ads with 0.60 FTE. :)

When I turn 60 my goal is by that stage to have enough passive income to not have to work PAYG at all !! My goal has always been to retire on $75 k pa passive income (in today's dollars) but when I get closer to the end of my working life I think I'd be happy to live off the same amount of money that I'm earning today in passive income which is $60 k pa if that meant I could semi retire sooner.

I'm not after hundreds of thousands pa in retirement, flash cars, overseas holidays, material items, luxuries. Time & health is my driving goal !

Ive been struggling a bit lately with so much going on in my life, I'm finding it tough to fit everything in. Most nights of the week I'm always doing something, a meeting, sport, exercise, socialising & after a while it wears you down it really does! I took today off sick slept 10 hours.

I think my priorities have changed now! I want more * me time! * I'm realising just what is important to me & that is time, time to fit everything into the day without always being exhausted. I reckon I can achieve part time by 55. I'll make it happen, & then fully retire not too long after. Future is looking bright.

Anyone else here value their time more than anything else? And are willing and happy to pull the plug sooner so they can work less hours?
 
I dropped out the workforce and became a full time off-site contractor about 12 months ago. Only just starting to make enough to cover my expenses, but it has been totally worth it. If someone offered me a full time role at triple the usual pay, I wouldn't even take the time to consider it.

Because of my contracting, I am now in a position to become a perpetual traveller. If you are able to do this, I would strongly recommend it.
 
Goal: To be able to afford to go part time when I turn 55 which is in around 15 years time.

I've already started looking at jobs ads with 0.60 FTE. :)
Now we are talking the same language :)

The problem is that any part-time roles don't pay much compared to the full time roles. For example, equivalent to 100K full time doesn't pay 50K for 0.5 FTE. It is more like 30K for 0.5 FTE. Instead contracting gives more money but you need to look for a job all the time :(
 
I dropped out the workforce and became a full time off-site contractor about 12 months ago. Only just starting to make enough to cover my expenses, but it has been totally worth it. If someone offered me a full time role at triple the usual pay, I wouldn't even take the time to consider it.

Because of my contracting, I am now in a position to become a perpetual traveller. If you are able to do this, I would strongly recommend it.



What kind of work are you in?
 
I'm 55 and went parttime this year. In actual fact I'm not getting much less take home money as I salary sacraficed a fair bit before.

Only problem is now I have more time to look for my next holiday.

I have 2014 full. :D:D

I booked a cruise in the Baltics this morning. :cool:

LOVING IT!!!
 
Goal: To be able to afford to go part time when I turn 55 which is in around 15 years time.

I've already started looking at jobs ads with 0.60 FTE. :)

When I turn 60 my goal is by that stage to have enough passive income to not have to work PAYG at all !! My goal has always been to retire on $75 k pa passive income (in today's dollars) but when I get closer to the end of my working life I think I'd be happy to live off the same amount of money that I'm earning today in passive income which is $60 k pa if that meant I could semi retire sooner.

I'm not after hundreds of thousands pa in retirement, flash cars, overseas holidays, material items, luxuries. Time & health is my driving goal !

Ive been struggling a bit lately with so much going on in my life, I'm finding it tough to fit everything in. Most nights of the week I'm always doing something, a meeting, sport, exercise, socialising & after a while it wears you down it really does! I took today off sick slept 10 hours.

I think my priorities have changed now! I want more * me time! * I'm realising just what is important to me & that is time, time to fit everything into the day without always being exhausted. I reckon I can achieve part time by 55. I'll make it happen, & then fully retire not too long after. Future is looking bright.

Anyone else here value their time more than anything else? And are willing and happy to pull the plug sooner so they can work less hours?

I support you Alex, that is great!!!
You can have all money in the world, but without health and time. Its means nothing.

Remember the most expensive resource in this world is Time, not money..

$1000 dollar in 10 year time will not have the same buying power, thanks to inflation.
But 1 minute in 10 year from now still 60 seconds.
 
Now we are talking the same language :)

The problem is that any part-time roles don't pay much compared to the full time roles. For example, equivalent to 100K full time doesn't pay 50K for 0.5 FTE. It is more like 30K for 0.5 FTE. Instead contracting gives more money but you need to look for a job all the time :(

It depends, govt roles usually do pay a salary pro-rata. If you can turn your full time job into a part-time one, you've got a high chance of getting paid pro-rata as well.
 
Great thread Alex. All the best.

I think I have to keep at it until my kids are reasonably self sufficient, about 15 years away :eek:. My plan is to take some risks (e.g. load up IPs) now so that I have options when I get older.

Few years ago, I didn't have much buffer and felt stressed cos I must have a certain income level to support my IPs. Now I feel ok cos I have sufficient buffer.
 
Anyone else here value their time more than anything else? And are willing and happy to pull the plug sooner so they can work less hours?

If you're single with no kids you could retire at 45 in SA or SEA.
Time is all you have. You just need to think outside the square and don't be a sheep.
 
If you're single with no kids you could retire at 45 in SA or SEA.
Time is all you have. You just need to think outside the square and don't be a sheep.

That is great except if your family and friends are in Australia, then it kind of defeats the purpose, doesn't it?
 
That is great except if your family and friends are in Australia, then it kind of defeats the purpose, doesn't it?

Defeats the purpose of what? Wanting to hang around your friends and family once you've retired from the workforce? OP never mentioned this is a goal. But if it is, there's nothing to stop Alex from seeing their family in person if they visit for a holiday or go back every Christmas for a catchup.

Alex will make plenty of new friends and discover new hobbies and interests. He can still keep in touch with old friends too. Skype, Viber, Wechat, Line, Whatsapp, Facebook, email, telephone and fax all help reduce the tyranny of distance.

Ok I admit it's a bit radical for people who don't like to broaden their horizons and find comfort doing the same things they've always done. That's why I said you can't be a sheep to pull this off because you'll need to step outside your comfort zone.
 
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