Quitting work to hang out at home?

I'm seeing a bit of a trend among my friends at the moment to not work.

I currently have three friends (women who are stay at home mums) who's husbands basically got tired of their jobs, so chucked it in and now both at home living off govt money/savings/redraw. Neither husband nor wife actively looking for work. Several more friends have chucked in jobs to study full time or moving away to live a cheaper/work free life. Two friends are approaching a year off work.

This all really astounds me. Good on them I guess, they are not getting job satisfaction, so have given it away but so many of them have put themselves hugely on the financial back foot. Especially those using redrawn money. I can't understand why they haven't set themselves up first. Maybe it all seems too hard, so do it anyway.

Is this happening a lot out there or is this just my circle of friends?
 
I'm seeing a bit of a trend among my friends at the moment to not work.

I currently have three friends (women who are stay at home mums) who's husbands basically got tired of their jobs, so chucked it in and now both at home living off govt money/savings/redraw. Neither husband nor wife actively looking for work.

Have they told you they are living off government money, savings or redraw or is that a guess?

This all really astounds me. Good on them I guess, they are not getting job satisfaction, so have given it away but so many of them have put themselves hugely on the financial back foot. Especially those using redrawn money.

I just realised that you must know some are using redraw money.

The only thing I would say is that my hubby did this aged 50 when his work (that had been enjoyable and meaningful) lost its lustre. The reason I ask about whether you "know" what they are living off is that anybody looking in at us would wonder what we are living on. We are negatively geared, so it costs us each week to hold the IPs we have.

But... I planned things so that we could get by until hubby reaches 55 and can access his super if we need to (early next year) and until he turns 55, if we needed it, we could have drawn $100K from his super (pay tax and receive $75K).

With the sale of one IP (half share) we had enough to get through to then, and we are enjoying ourselves. I'm working casual for enjoyment, not necessity, but it is nice to have a bit of money coming in.

I suppose what I mean is that they could well have something humming along in the background, parents supporting them or have planned things to allow the husbands to stop working.

If not, and if they are going backwards financially, they may simply have decided life is too short and it is time for some "time out" (especially if they are young enough to change course if they need or wish to).

I suppose it is not always about the money...
 
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I understand how those people are probably feeling but it is a huge risk to take a 'gap' year. In the fast paced corporate world I'm seeing lots of men having mid-life crises around 35-38 and wanting to pack in the job and be a bum. Have you noticed how many nerdy comedy shows are produced/acted by ex-lawyers? My "other half" is having a terrible time of it and asked for a one month break from me and the kids to think about life and pretty much relinquish any responsibility. He's out on his own at the moment (but still has the kids regularly) and I expect that not too soon he will throw in his job whether he has something to go to or not. He has no interest in working or what he wants to do with his life and would be happy to sit at home for a year. He told me not long ago he'd be happy to sell off all our properties as it's all too hard for him now. dunno whether he needs a big bag of concrete or if maybe life is a bit tougher these days.
 
I normally love my job, however the last couple of months have been super stressful. I constantly think about taking 6 months long service leave.

I've also been thinking about retirement more and more and the goals I need to set to get there - at least 10 years off.
 
My wife and I have always put happiness before money.

For that reason, we've never had a problem with taking risk (calculated of course).

It was my wife that convinced me to get out of the job I dreaded to start my business.

Fast forward a few years later and I'm having to pinch myself each day. I get to spend heaps of of time with the kids, I genuinely love what I do and my wife also has the freedom to work whenever/wherever she likes.

Cheers

Jamie
 
Corporate world recharge
Christmas time is a perfect time to recharge your batteries, start on the 15h of December come back to work around 20 jan.

Clients don't miss you as there away

Do nothing for 5 weeks

Perfect....
 
Over time I've had quite a few friends and family, both male and female, do this for various reasons, ie. SIL 'retired' on a couple of occasions but about 2 years ago got roped into working in her sister business.

All were pretty confident of finding another job if they wanted to, and all are working now.

None would have accessed government handouts because all had a working spouse as well as some income producing assets/investments; probably savings, 3 had paid off PPOR's that i knew of.

I think a lot of couples who work can afford to have 1 person take some time out (moreso the older, or more established couples) but don't.

Perhaps most people like their jobs, or perhaps they're happy working knowing they're building a nest egg, or to keep up a lifestyle, or have expensive kids, but are content knowing they can scale down if they really wanted to.

My husband has cut down to 30hrs pw but I keep harping on for him to work less (ease into retirement) and he won't - he keeps saying he will be very part time at 55 in just over a year, but we'll see.

I can take up to a year off with pay -some on half pay- if i plan it right, or up to a year without pay if i give a good enough reason, but I don't because I get enough time off anyway and i quite like going to my paid job.

Or I can get hubby to work more and i can retire :).

The 3 couples I know who all don't work have been unemployed long term, surviving on government income and cash work.

That is always an option too :rolleyes:.

2 of the couples are now on DSP but I have do idea what for.

I don't think you have to be 'there' to take some time off either. It just needs some planning in most cases.

For those with a PPOR mortgage, and I know people say don't pay any down, if you do pay a bit extra and save a decent redraw over time, then you can easily have a holiday from repayments and take time off.
 
sorry, but who the furk cares how someone else lives their life?

plenty of people do things for reasons not understood by others.

I mean, really......?
 
....they are not getting job satisfaction, so have given it away but so many of them have put themselves hugely on the financial back foot.

Maybe it really is better to die on your feet than live on your knees? Ok maybe that's a bit dramatic but sounds like they're more willing to live an interesting life than die with a big bank balance.The best thing about living in Oz is you won't go hungry or live without shelter so don't sweat the small stuff.
 
I understand how those people are probably feeling but it is a huge risk to take a 'gap' year. In the fast paced corporate world I'm seeing lots of men having mid-life crises around 35-38 and wanting to pack in the job and be a bum. Have you noticed how many nerdy comedy shows are produced/acted by ex-lawyers? My "other half" is having a terrible time of it and asked for a one month break from me and the kids to think about life and pretty much relinquish any responsibility. He's out on his own at the moment (but still has the kids regularly) and I expect that not too soon he will throw in his job whether he has something to go to or not. He has no interest in working or what he wants to do with his life and would be happy to sit at home for a year. He told me not long ago he'd be happy to sell off all our properties as it's all too hard for him now. dunno whether he needs a big bag of concrete or if maybe life is a bit tougher these days.

Has depression been considered for your 'other half'?
This has happened to family members, and for a long time, we didn't know what the problem was, because symptoms are not always 'sadness'.
 
Maybe it really is better to die on your feet than live on your knees? Ok maybe that's a bit dramatic but sounds like they're more willing to live an interesting life than die with a big bank balance.The best thing about living in Oz is you won't go hungry or live without shelter so don't sweat the small stuff.

To the contrary sitting at home doing nothing doesn't seem very interesting to me. Sitting on your **** isn't living its existing you need a fulfilling life as well as a full belly.
 
I just realised that you must know some are using redraw money.

If not, and if they are going backwards financially, they may simply have decided life is too short and it is time for some "time out" (especially if they are young enough to change course if they need or wish to).

I suppose it is not always about the money...

Yes they have told me money is coming from govt/redraw/savings. That's the thing they are going bckwards financially but have decided to take a break, recharge like oc1 mentioned.

I understand how those people are probably feeling but it is a huge risk to take a 'gap' year. In the fast paced corporate world I'm seeing lots of men having mid-life crises around 35-38 and wanting to pack in the job and be a bum. Have you noticed how many nerdy comedy shows are produced/acted by ex-lawyers? My "other half" is having a terrible time of it and asked for a one month break from me and the kids to think about life and pretty much relinquish any responsibility. He's out on his own at the moment (but still has the kids regularly) and I expect that not too soon he will throw in his job whether he has something to go to or not. He has no interest in working or what he wants to do with his life and would be happy to sit at home for a year. He told me not long ago he'd be happy to sell off all our properties as it's all too hard for him now. dunno whether he needs a big bag of concrete or if maybe life is a bit tougher these days.

This is how I see it, as a risk to take a gap year. To me by taking a year off, when not set up properly, they are actually adding more working years onto their lives. I guess this is why it concerns me. I do care A.slice, they are my friends, though at the same time, I'm almost jealous that they have had the courage to take a break, assess their priorities and put themselves first. I just think that in some ways they are actually taking a huge step backwards, when not set up properly before taking the break.

I normally love my job, however the last couple of months have been super stressful. I constantly think about taking 6 months long service leave.

I've also been thinking about retirement more and more and the goals I need to set to get there - at least 10 years off.

My wife and I have always put happiness before money.

For that reason, we've never had a problem with taking risk (calculated of course).

It was my wife that convinced me to get out of the job I dreaded to start my business.

Fast forward a few years later and I'm having to pinch myself each day. I get to spend heaps of of time with the kids, I genuinely love what I do and my wife also has the freedom to work whenever/wherever she likes.

Cheers

Jamie

There are many great examples here of taking calculated breaks. Long service, finding more flexible work, investing in income producing assets, just not so wise to redraw or use hard earned savings.

I was actually interested to hear if more people are taking these gap years so to speak. I know it's very obvious among my group of friends that change is in the wind. They are no longer content, like my parents were to just work day in day out. I think it's a great step, they are getting time with their families, they wouldn't otherwise have while at work. I just think that when not set up already, they are actually taking a year, to have to give back two, you know?
 
Some don't see the benefits of investing, yet want to take that year off. If they have saved enough, good on them for taking the leap (it really isn't an easy choice believe it or not), where do you draw the line and say, okay now I have enough... end of the day, we are really talking around $30-50k to buy a year of their life (excluding opportunity loss).

I have considered taking 6 months off every 5 years, I have one coming up though am deliberating wether to postpone or push on for a couple more years.

I'm 27 in June, and a can either:

a) take 6 months to assist building schools overseas (no new savings, loss of current savings, delays promotions, miss a year of investing, yet do something I love and have a new experience, develop management skills, etc.)

b) Move closer to an investment site, build up my business on the side (which I enjoy), leverage what I have to purchase another $2M in property over the next 2 years. Promotions and pay increases in the near future.

Sure I can do b), be more financially stable, and take a year off when I'm 30. But then, what will be my circumstances then, in 3 years time will I once again be having the same dilema? (increase portfolio another $5M, an even better promotion), maybe I keep going till i'm 40 and then loose it all.

It's hard to get advice on this, most people would say, go for the security, think of your future. But living it safe to get to death... what is the point?
 
I think its being pushed into concrete career paths these days. People only train to death for one thing and then they're bored to death in that arena with no options to get out. 'In the old days' people moved around in different fields of work (mainly manual labor admittedly, deckhand, working as a tradies' assistant, waiting, picking grapes) Nowadays you cant even get a job in the minefields without knowing someone. They used to say people will have 3 distinct changes of types of jobs, now they can only stick at one. I know people who are 65 and because they love what they do wont retire (maybe shift to part time) and one who is 72 and runs is own business and is there til 7 every night because he loves it. When I was working in a particular company (before I started my own) I couldnt wait to get to work because I thought I was building something and was needed. I think that is the key, if you love it you cant wait to get there
 
sorry, but who the furk cares how someone else lives their life?

plenty of people do things for reasons not understood by others.

I mean, really......?

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Step in, pull out a chair, take a load off your feet (or chest)and have a cuppa and a natter with your ol Nan about anything you want

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I think its being pushed into concrete career paths these days. People only train to death for one thing and then they're bored to death in that arena with no options to get out. 'In the old days' people moved around in different fields of work (mainly manual labor admittedly, deckhand, working as a tradies' assistant, waiting, picking grapes) Nowadays you cant even get a job in the minefields without knowing someone. They used to say people will have 3 distinct changes of types of jobs, now they can only stick at one. I know people who are 65 and because they love what they do wont retire (maybe shift to part time) and one who is 72 and runs is own business and is there til 7 every night because he loves it. When I was working in a particular company (before I started my own) I couldnt wait to get to work because I thought I was building something and was needed. I think that is the key, if you love it you cant wait to get there

Actually these days 8 distinct career changes is the average.

I love what I do, however I don't appreciate knowing my future within my field is determined by wether other people feel they should promot me or not.

I'm all for PayE and not PayG. I worked hard in my PayG job, and had the promotions and then it dawned on me, if I'm going to work this hard for someone, that someone should be me.

So here I am, 3 years later, still haven't quite started, so am feeling a little anxious. As much as those around me tell me to work a few more years to have enough savings behind me. 3 house purchases and $12k cashflow+ later, I begin to question, what exactly is it people think is enough. Sure $50k cashflow will be safer, then again $100k is even better. Where do you just say, Okay TODAY I will quit my work. Make that change, start that business etc.
 
With over 20 weeks annual leave and as many weeks long service leave up my sleeve, my employers are pushing me to take a recharge break..... I guess my work's recharging me too much....

The Y-man
 
Geesh Y man, now that's what I call a calculated break. You don't want to take it yet?

We are planning a year off to travel Aust, but I won't let it set us back, that's for sure.
 
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