Part time work opportunity- opinions wanted

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am
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Joined: Sun Sep 30, 2007 9:55 am

Part time work opportunity- opinions wanted

Post by am »

I am a physician who has an opportunity to work 80% load. My current schedule leaves relatively little time and mostly energy to pursue hobbies, travel, etc and has probably led to burn out. Call on weekends, evening, nights is what drains me the most and the frequency would not change, only more days off during the week. I do have 9 weeks of vacation a year now, but when you count all the weekends I work, I probably break even in the end. My time off is used mostly to get back to normal before the next tough stretch.

Think financially I am doing well thanks mostly to this site which I have been a member of since 07. Have avoided many of the typical physician traps. Thank you Bogleheads. I have no debts, a payed off house, and retirement account in the mid 6 figures, emergency fund of about 1.5 years, about 1/4th needed amount for college for kids with about 10 years before first one goes. Save quite a bit every month. The cushion makes it comfortable. With 80% would have to watch money much more carefully and save much less into taxable.

As far as savings, I would reach my retirement target in 13 years at current savings rate and future portfolio nominal returns of 7%. At 80%, I would reach my target in 18 years (obviously many assumptions about returns, health, stable job and salary etc). I would be in late 50s in 18 years. Not sure if I would be more disposable at 80%, and current job market in my field is poor.
dl7848
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Joined: Tue Mar 25, 2014 12:46 am

Re: Part time work opportunity- opinions wanted

Post by dl7848 »

If you're burning yourself out now, you may not be around for retirement. Nightwork can be a big strain on the body. The greater the recovery time, the better your body can maintain it's resiliency.

Is this opportunity an all or nothing thing? Can you try it out and if you don't like it go back to a normal schedule?

If your calculations are off and you have to go the frugal route to make up for lost income, would that put a big dent in your lifestyle? IOW, do ou really need that yacht? (I'm being a bit facetious here, but one needs to know one's limits and comfort zones, and be honest with themselves regarding issues like status.)
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SnapShots
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Re: Part time work opportunity- opinions wanted

Post by SnapShots »

9 weeks of vacation and still working too hard. :happy Sorry, it's hard to relate.

DH was in private practice and it was difficult to take off two weeks. I think, we did that for the first time for our 25th wedding anniversary.
the best decision many times is the hardest to do
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Boglenaut
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Re: Part time work opportunity- opinions wanted

Post by Boglenaut »

I don't make nearly what a physician makes, but if I could change my job to 80% pay for 80% work/stress, I'd take it in a minute. unfortunately, my job is all-or-none.
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LowER
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Re: Part time work opportunity- opinions wanted

Post by LowER »

From a tax standpoint, I think you might come out ahead taking the longer route, 18 years, and I could be wrong about this but possibly worth exploring further - possible fodder for another thread.

FIVE extra years of no call, no alarm clock, no job, just you and whatever you want to do sounds enticing, but burnout can be subtle until the wheels fall of the bus and may end up with a label of disruptive physician, which can ruin a career.

Nine weeks off sounds glorious. I've taken 4 days in 2 years and probably 4 weeks in 5 years; there's a long story behind that.

I'm not being factious here, but have you really explored how you feel, possibly with a therapist (who you pay in cash), or take a continuous chunk of time off, like a month, to try to sort out where you feel you are in life, and what you want to do with your singular gift of finite life, depending upon your religion I guess.

There are many ways of maximizing savings rates that may help get you out of the workforce sooner as well, though it sounds like you've done quite well in that department so far, but there may be room for painless savings in other ways.

A change of professional setting might be refreshing as well.

Just thinking out loud here....
YttriumNitrate
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Re: Part time work opportunity- opinions wanted

Post by YttriumNitrate »

am, from your very first post on the Boggleheads forum:
am wrote:We live a simple life and do not need nearly the income I am earning now.
Seems like you'd do just fine on 80% so there's no reason to be burnt out for another 13 years to achieve some financial goal a bit sooner.
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