Back to Work......Temporarily

Bobw235

Bobw235

Senior Member
Location
Massachusetts
Recently I reached out to one of my former colleagues, a guy I'd hired years ago, to see if he might have an interest in my helping out on a part time basis during their busiest time of the year (October through December). I figured they might be interested, discussed it with my wife and we've reached an agreement. They welcomed me back enthusiastically, said I can work as many hours as I want (I'm thinking 21 hours per week, give or take), and it will likely end at the end of December. What's even better is that I got the hourly rate I'd been looking for. Did some research to figure out what to charge, taking into account my final salary/bonus, benefits and taxes, etc. This will give me a chance to earn a fairly decent chunk of income in a short period of time, keep busy and maintain contact with former colleagues, while also having plenty of time for myself. Combining this with some expected volunteering at a local hospice and it would appear I'm going to be busy this Fall. Looking forward to it. My wife was a bit skeptical, but I assured her this was just temporary.
 
Ameriscot said:
Short term sounds good.
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If I go beyond that, it would be on a very limited basis, only 39 hours per month, which would allow me to keep my pension each month. It will be suspended while I'm working more hours in the Fall, but I'll come out way ahead in terms of cashflow.
 
It's wonderful you have this warm and welcoming relationship with your employer, and that you'll get to spend time with some of the people you enjoyed working with.
 
bluebreezes said:
It's wonderful you have this warm and welcoming relationship with your employer, and that you'll get to spend time with some of the people you enjoyed working with.
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I've maintained contact with several of them since leaving at the end of February and they seem genuinely pleased to know I'm coming back for a brief stay. Plus, I'll get to do this from my house! No commuting into Boston. Sweet!
 
Bobw235 said:
If I go beyond that, it would be on a very limited basis, only 39 hours per month, which would allow me to keep my pension each month. It will be suspended while I'm working more hours in the Fall, but I'll come out way ahead in terms of cashflow.
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Extra vacation money!
 
It's nice to get some "extra" money(is there ever really any "extra"?) post retirement, but getting back to "doing-what-you-do" and being with former colleagues is the icing on the cake!
 
Before I retired I said that I would take a year off and then find a part time job..That was 8 years ago...I am enjoying every minute of retirement..
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i teach motor controls and variable frequency drives at my old company two days a month .been doing it since i retired a year ago . i really enjoy it and it gives me a chance to interface with others . it paid for a years worth of medical insurance .

that free's up more money for photography toys and trips .

i actually got called in to cover for a full week last week when to many people were out on vacation . we took that check and booked a trip to Nashville .
 
Bobw235 said:
Recently I reached out to one of my former colleagues, a guy I'd hired years ago, to see if he might have an interest in my helping out on a part time basis during their busiest time of the year (October through December). I figured they might be interested, discussed it with my wife and we've reached an agreement. They welcomed me back enthusiastically, said I can work as many hours as I want (I'm thinking 21 hours per week, give or take), and it will likely end at the end of December. What's even better is that I got the hourly rate I'd been looking for. Did some research to figure out what to charge, taking into account my final salary/bonus, benefits and taxes, etc. This will give me a chance to earn a fairly decent chunk of income in a short period of time, keep busy and maintain contact with former colleagues, while also having plenty of time for myself. Combining this with some expected volunteering at a local hospice and it would appear I'm going to be busy this Fall. Looking forward to it. My wife was a bit skeptical, but I assured her this was just temporary.
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Sounds like a sweet deal, but I'm having to second Ken. Worked enough in my lifetime. It's retirement all the way :)
 
OneEyedDiva said:
Sounds like you have the best of both worlds Bob. I like that you can set your own hours. Congratulations.
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Indeed it should be. I have the option to work more (or less) and to split it up over the entire week or on a weekend. And, I'll be able to do it all from home. Just got the offer letter yesterday. The extra money will come in handy, and the work may give me an opening to continue there on a much-reduced schedule in January.
 
Bobw235 said:
If I go beyond that, it would be on a very limited basis, only 39 hours per month, which would allow me to keep my pension each month. It will be suspended while I'm working more hours in the Fall, but I'll come out way ahead in terms of cashflow.
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I'm planning on giving my employer 16 hours a week when I retire the end of the year. I have no limits on how much I can make to keep my 3 pensions.. and no where would I be able to find another little part time job making what I make.,
 
I just read a statistic that says of all the people who plan to work part time after retirement, only 10 percent actually do.

I do not think that lack of part time jobs is the main factor.

Perhaps,

Most people are prepared financially better than they thought they were.
Most people are prepared mentally better than they thought they were.
Or a combination of both.
 
Dennis K said:
I just read a statistic that says of all the people who plan to work part time after retirement, only 10 percent actually do.

I do not think that lack of part time jobs is the main factor.

Perhaps,

Most people are prepared financially better than they thought they were.
Most people are prepared mentally better than they thought they were.
Or a combination of both.
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I think for me, the willingness to go back part time partially related to the fact that I won't be traveling that time of year, the monetary appeal and the contact that I'll have with a number of former colleagues. Knowing that it's a short term gig was also a factor. It will be interesting to see how I feel after doing it for a few weeks. Part of me is looking forward to it.
 
Dennis K said:
I just read a statistic that says of all the people who plan to work part time after retirement, only 10 percent actually do.

I do not think that lack of part time jobs is the main factor.

Perhaps,

Most people are prepared financially better than they thought they were.
Most people are prepared mentally better than they thought they were.
Or a combination of both.
Click to expand...

I am in the 90%...hh.jpg
 
I'm also in the 90%........after retiring I seriously thought about going to work part time someplace but then I figured that (other than mama) I don't need another boss again in my life. :)
 
I'm also in the 90%!

Some of you know that I 'stopped working' instead of properly retiring when husband who was properly retired volunteered in Uganda. When we came home after two years I was 57. He had no intention of working again, but asked me if I was going to get a job. I just said 'nope'. No more work. I didn't get my first pension until I was 60, then two more at 62.

Sometimes I still can't believe I'll never need a job again and it's been 9 years.
 
Now and then I hear people say that if you work after you retire, you are not retired. I disagree with that. To me, retirement will be having more control over what I do with my life. I fear that these same people work and live to retire and sometimes forget about living for today, while at the same time prepare for retirement. I have found that you can find that balance with the right decisions along the way. Whether you chose not to work, work for some extra money, or work for something to do, it can still be considered retirement, if the choice is yours to make.
 
Dennis K said:
Now and then I hear people say that if you work after you retire, you are not retired. I disagree with that. To me, retirement will be having more control over what I do with my life. I fear that these same people work and live to retire and sometimes forget about living for today, while at the same time prepare for retirement. I have found that you can find that balance with the right decisions along the way. Whether you chose not to work, work for some extra money, or work for something to do, it can still be considered retirement, if the choice is yours to make.
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I agree Dennis, and that's one reason I'm returning to work. We had thought we'd be doing more traveling this year, but my wife's health situation makes that more difficult. She and I talked about it and agreed as long as I limited the hours to around 21/week, that would be a manageable workload while still freeing me up to take long weekend trips once in a while. I miss my interaction with folks in the workplace, even if it was only by email and phone. I've found thus far in retirement that unless I am able to keep busy, I grow restless and have some feelings of depression that creep in. The extra money, while not necessary, will permit a few home improvements that we've been putting off, as well as make me feel more comfortable about getting a new camera. I'm cool with the part time schedule and found when I was doing that towards the end of my tenure at the firm that it was an ideal schedule.
 
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