“$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing?

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Plz
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“$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing?

Post by Plz » Thu Oct 11, 2018 11:11 pm

Part time or full time, whichever tickles your fancy. Also it doesn’t necessarily have to earn $1000/month. It could be more or less, as long as it’s not zero.

Personally, I think I would enjoy being a teacher, but haven’t really thought about this in depth, so I figured I’d ask all of you :)

nashirak
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by nashirak » Thu Oct 11, 2018 11:31 pm

I wouldn’t mind getting back into being a scuba instructor. I actively instructed while I was in college and have been diving most of my life.

Or I would do something else low-key and part-time, like getting on with Enterprise as a driver to move cars from branch to branch or pick up customers.

Either way, something low/no stress I could do a couple/few days a week to help keep active.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by sport » Thu Oct 11, 2018 11:34 pm

For me, the whole point of retirement is not working. I often tell people that "work" is a four-letter word.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by linenfort » Thu Oct 11, 2018 11:37 pm

Animal shelter assistant, but I don’t think it would pay anywhere near 1K.
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Watty
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Watty » Thu Oct 11, 2018 11:46 pm

“$1000/month job is worth $300k in retirement funds”


Bringing in a $1000 a month would make a huge difference for some people but I would have to question the $300K figure.

The problem is that you might be able to work the job for a while when you first retire but many if not most people will find it difficult to work when they into their 70's or so.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Plz » Thu Oct 11, 2018 11:57 pm

nashirak wrote:
Thu Oct 11, 2018 11:31 pm
I wouldn’t mind getting back into being a scuba instructor. I actively instructed while I was in college and have been diving most of my life.

Or I would do something else low-key and part-time, like getting on with Enterprise as a driver to move cars from branch to branch or pick up customers.

Either way, something low/no stress I could do a couple/few days a week to help keep active.
Great answers! I wonder if driving for Uber/lyft might be an option too

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Clever_Username » Fri Oct 12, 2018 12:00 am

Thought has crossed my mind of being a marshal at a golf course. Probably worth more than $1000/month for me if it includes golf privileges.
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by visualguy » Fri Oct 12, 2018 12:22 am

Wouldn't it be better to work another year or so at your actual profession, and not worry about this? Seems like a much more efficient way to get the money when compared to years of some random low-paying part-time job.

youdiditr2
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by youdiditr2 » Fri Oct 12, 2018 12:43 am

visualguy wrote:
Fri Oct 12, 2018 12:22 am
Wouldn't it be better to work another year or so at your actual profession, and not worry about this? Seems like a much more efficient way to get the money when compared to years of some random low-paying part-time job.
yea, that's my thinking. I thought of quitting and go part time working 20 hours a week...then I added it up.
I would have to work 10 years, 20 hours a week to make the same money that I could make working one year at my current job. So I'm just going to suck it up for another 2 to 5 years, rather than work at some random low paying part time job. I worked at random low paying job as a teenager and they treat you much worse than Mega Corp. At least in Mega Corp, I can just cruise at my job. Hard to cruise at low paying job without getting fired or yelled at.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Plz » Fri Oct 12, 2018 1:45 am

youdiditr2 wrote:
Fri Oct 12, 2018 12:43 am
visualguy wrote:
Fri Oct 12, 2018 12:22 am
Wouldn't it be better to work another year or so at your actual profession, and not worry about this? Seems like a much more efficient way to get the money when compared to years of some random low-paying part-time job.
yea, that's my thinking. I thought of quitting and go part time working 20 hours a week...then I added it up.
I would have to work 10 years, 20 hours a week to make the same money that I could make working one year at my current job. So I'm just going to suck it up for another 2 to 5 years, rather than work at some random low paying part time job. I worked at random low paying job as a teenager and they treat you much worse than Mega Corp. At least in Mega Corp, I can just cruise at my job. Hard to cruise at low paying job without getting fired or yelled at.
I think the key difference is a job you’d actually enjoy doing vs some random low paying part time job

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by AlohaJoe » Fri Oct 12, 2018 2:11 am

A $1,000/month job means after-tax. Which means it really needs to be more like a $1,200/month job after FICA, state, federal, health care, etc. At $15/hour that's 80 hours a month. That's definitely not full time but it also assumes $15/hour. One of the jobs mentioned in the thread is Enterprise rental car part-time driver. According to their website that job has "Starting pay $8.00 per hour!". So with that job, you're looking at full-time 40 hours a week to make that $1,200/month.

I'm not sure there are actually that many decent, easy, flexible jobs that also pay $1,200 a month on a part-time basis.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by HIinvestor » Fri Oct 12, 2018 3:41 am

My H worked until he turned 70. I started a nonprofit at 50 and have been running it ever since. It has been very interesting and personally gratifying.

In the years when I needed money (to help pay kids’ college tuitions & fees), I successfully applied for and received grants so we could do a lot of free health testing around our state. Since then, funding has been much tougher to get, so we’ve scaled back activities but still provide a website and some monthly and annual activities.

My compensation at this point is an honorarium (well under $1k/month) but I really enjoy giving back to the community. We are only able to do this because dear H worked at his job (which he enjoyed) for so long and retired with a good defined benefit pension with COLA, plus subsidized family medical insurance.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by B. Wellington » Fri Oct 12, 2018 4:48 am

youdiditr2 wrote:
Fri Oct 12, 2018 12:43 am
visualguy wrote:
Fri Oct 12, 2018 12:22 am
Wouldn't it be better to work another year or so at your actual profession, and not worry about this? Seems like a much more efficient way to get the money when compared to years of some random low-paying part-time job.
yea, that's my thinking. I thought of quitting and go part time working 20 hours a week...then I added it up.
I would have to work 10 years, 20 hours a week to make the same money that I could make working one year at my current job. So I'm just going to suck it up for another 2 to 5 years, rather than work at some random low paying part time job. I worked at random low paying job as a teenager and they treat you much worse than Mega Corp. At least in Mega Corp, I can just cruise at my job. Hard to cruise at low paying job without getting fired or yelled at.
I am in the same boat with these posters. I have been looking into going PT, however finding something truly enjoyable with great flexibility might be difficult. Mega Corp still pays most of my insurance, 401K match, profit sharing bonus, etc. Still open to the idea of working "only" 20 hours per week however.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by warner25 » Fri Oct 12, 2018 5:48 am

Plz wrote:
Thu Oct 11, 2018 11:11 pm
Part time or full time, whichever tickles your fancy. Also it doesn’t necessarily have to earn $1000/month. It could be more or less, as long as it’s not zero.

Personally, I think I would enjoy being a teacher, but haven’t really thought about this in depth, so I figured I’d ask all of you :)
Depending on what you mean by "teacher," you should know that comments like this are terribly insulting to teachers. When my wife was a high school math teacher, she was working 70-80 hours a week with lesson prep, grading, tutoring, and other duties, and frequently coming home in tears. It was anything but part-time or enjoyable. I guess you could be a sub, but that's less about teaching and more about babysitting.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by mouses » Fri Oct 12, 2018 6:12 am

warner25 wrote:
Fri Oct 12, 2018 5:48 am
Plz wrote:
Thu Oct 11, 2018 11:11 pm
Part time or full time, whichever tickles your fancy. Also it doesn’t necessarily have to earn $1000/month. It could be more or less, as long as it’s not zero.

Personally, I think I would enjoy being a teacher, but haven’t really thought about this in depth, so I figured I’d ask all of you :)
Depending on what you mean by "teacher," you should know that comments like this are terribly insulting to teachers. When my wife was a high school math teacher, she was working 70-80 hours a week with lesson prep, grading, tutoring, and other duties, and frequently coming home in tears. It was anything but part-time or enjoyable. I guess you could be a sub, but that's less about teaching and more about babysitting.
Teaching at community college is an option. They often hire people to teach one course, and you're teaching older people who actually want to learn.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by gclancer » Fri Oct 12, 2018 6:22 am

warner25 wrote:
Fri Oct 12, 2018 5:48 am
she was working 70-80 hours a week
I’m always curious about how people manage to work this much on a week in, week out basis. Was that 5, 15 hour days so that she at least had weekends to recoup? Or more like 6, 12 hour days? I’d imagine 7, 10 hour days would be hard to keep up for long.

rich126
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by rich126 » Fri Oct 12, 2018 6:34 am

Watty wrote:
Thu Oct 11, 2018 11:46 pm
“$1000/month job is worth $300k in retirement funds”


Bringing in a $1000 a month would make a huge difference for some people but I would have to question the $300K figure.

The problem is that you might be able to work the job for a while when you first retire but many if not most people will find it difficult to work when they into their 70's or so.
Yeah, it certainly is worth less than $300K. With $300K and the $12K withdrawal, you still got money left. As others pointed out, once you stop making the $1,000 you don't have anything left. Obviously making some income certainly will help extend their savings and if you enjoy it or have to do it, go for it.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by DoTheMath » Fri Oct 12, 2018 6:40 am

mouses wrote:
Fri Oct 12, 2018 6:12 am
warner25 wrote:
Fri Oct 12, 2018 5:48 am
Plz wrote:
Thu Oct 11, 2018 11:11 pm
Part time or full time, whichever tickles your fancy. Also it doesn’t necessarily have to earn $1000/month. It could be more or less, as long as it’s not zero.

Personally, I think I would enjoy being a teacher, but haven’t really thought about this in depth, so I figured I’d ask all of you :)
Depending on what you mean by "teacher," you should know that comments like this are terribly insulting to teachers. When my wife was a high school math teacher, she was working 70-80 hours a week with lesson prep, grading, tutoring, and other duties, and frequently coming home in tears. It was anything but part-time or enjoyable. I guess you could be a sub, but that's less about teaching and more about babysitting.
Teaching at community college is an option. They often hire people to teach one course, and you're teaching older people who actually want to learn.
I think it is easy to overestimate how easy it is to get a job teaching at a CC and the level of pay, and underestimate the amount of work. My local CC is currently advertising for an adjunct instructor in business. This sounds like the sort of position relevant to the discussion here. You might imagine they're looking for someone with a few decades experience in industry who can roll in on Wednesday evenings to pontificate to an rapt audience about life in the business world.

Rather, the job requires the instructor to have a minimum of a Master’s degree in Business. The list of job responsibilities includes responsibility for instruction (including prep, grading, office hours, replying to emails, etc.), participation in the assessment of student learning outcomes, attending meetings as required, acquiring new knowledge and skills as appropriate and maintain license or professional certification specific to program requirements, among other things. They list a dozen courses you should be able to teach and you should be available during the day, evening and/or weekend as required by section assignment.

All to earn ~$2000 per course. No thanks.

People teaching at any level are doing the Lord's work.
“I am losing precious days. I am degenerating into a machine for making money. I am learning nothing in this trivial world of men. I must break away and get out into the mountains...” -- John Muir

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by pennywise » Fri Oct 12, 2018 6:40 am

Watty wrote:
Thu Oct 11, 2018 11:46 pm
“$1000/month job is worth $300k in retirement funds”


Bringing in a $1000 a month would make a huge difference for some people but I would have to question the $300K figure.
The math seems straightforward: $1000/month yields $12,000/year=4% withdrawal rate on $300,000 in retirement funds.

As for working I"m in agreement that my math is retirement=I don't have to work anywhere doing anything for any amount of money ever again :D

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by donaldfair71 » Fri Oct 12, 2018 6:43 am

For me it's teaching. Good news is that it's what I already get to do every day!

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by tennisplyr » Fri Oct 12, 2018 6:52 am

Here's a link to a site with a bunch of part time/work from home ideas:

www.thepennyhoarder.com/wfh/guides-reso ... e=facebook
Those who move forward with a happy spirit will find that things always work out.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by warner25 » Fri Oct 12, 2018 7:49 am

gclancer wrote:
Fri Oct 12, 2018 6:22 am
Was that 5, 15 hour days so that she at least had weekends to recoup? Or more like 6, 12 hour days? I’d imagine 7, 10 hour days would be hard to keep up for long.
For the five weekdays, she was at school from about 7am to 5pm, and then typically did grading and lesson prep until getting ready for bed at 9 or 10pm. Then she'd spend a half-day on Saturday or Sunday doing more. I personally helped grade quizzes or whatever so we could get to bed earlier, and she paid out-of-pocket for curriculum material when possible to save time. It was indeed unsustainable. Like I said, it wasn't a "retirement job" by any means, except for getting paid only $35k.

I think it does get better after a few years of teaching, if you're lucky enough to keep teaching the same classes every year, using the same curriculum. Developing lectures, assessments, etc. concurrently with teaching is too much. Plus first-year teachers typically get loaded up with the worst non-teaching duties.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by z3r0c00l » Fri Oct 12, 2018 8:00 am

Rather than try to drop into a new job at 55-65, which is more difficult than some might think (to just become a teacher suddenly, for example, as if it were the kind of job just anyone can do on a whim), I suggest cultivating a healthy set of side jobs and consulting opportunities while you are still full time. I do that now because I would rather have the extra $1500 a month now. Then, in retirement, one can just keep doing their consulting work relying on established relationships. Much of this work can be done from anywhere, even on vacation.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by staythecourse » Fri Oct 12, 2018 8:05 am

Posted awhile back about being an Uber driver for those who are ER and wanted some extra money especially as a means to cover some of the costs of health insurance.

Anyone do that?

Good luck.
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Nicolas » Fri Oct 12, 2018 8:15 am

linenfort wrote:
Thu Oct 11, 2018 11:37 pm
Animal shelter assistant, but I don’t think it would pay anywhere near 1K.
My wife does this for free.
De gustibus non est disputandum.

quantAndHold
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by quantAndHold » Fri Oct 12, 2018 8:25 am

I’m having too much fun traveling to spend my retirement time working. But...when I’m at home I teach martial arts at a local college. I make nowhere near $1000/month though, and wouldn’t even if I were home more. I can’t do martial arts that many hours per week without my body breaking down. I do it because I enjoy it. The money is incidental.

I also have to question the $300k figure. The only way I could get $300k was if someone worked for 20 years in an environment where inflation outpaced interest rates. Most people won’t be able to work for 20 years post retirement, and most wouldn’t consider the alternative to be having $300k in a passbook savings account. I’m using net present value of an annuity for my calculation.
Last edited by quantAndHold on Fri Oct 12, 2018 8:28 am, edited 1 time in total.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by k66 » Fri Oct 12, 2018 8:25 am

pennywise wrote:
Fri Oct 12, 2018 6:40 am
Watty wrote:
Thu Oct 11, 2018 11:46 pm
“$1000/month job is worth $300k in retirement funds”


Bringing in a $1000 a month would make a huge difference for some people but I would have to question the $300K figure.
The math seems straightforward: $1000/month yields $12,000/year=4% withdrawal rate on $300,000 in retirement funds.

As for working I"m in agreement that my math is retirement=I don't have to work anywhere doing anything for any amount of money ever again :D
But would a person maintain this part-time work for 30-years (the period of time for which the 4% WR applies)?

So yes, the $1k/month seems to be equivalent in some respects, and if a person is fortunate to find worthy or interesting work then all the better, but it's not necessarily a replacement for an additional $300k nest-egg.

I might consider that a person has off-set a certain amount of withdrawals from the nest-egg that can then provide replacement income after you cease this additional work. For example, let's say $12/year for 10-years has a value of $120k which is now available for use over the remainder of one's retirement.

This offset $120k amount can then be deployed over the next 20-years (to make it equivalent to a typical 30-year retirement period considered for analysis) or at $12k/yr for N-years.
LOSER of the Boglehead Contest 2015 | lang may yer lum reek

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by frugalmama » Fri Oct 12, 2018 8:34 am

z3r0c00l wrote:
Fri Oct 12, 2018 8:00 am
Rather than try to drop into a new job at 55-65, which is more difficult than some might think (to just become a teacher suddenly, for example, as if it were the kind of job just anyone can do on a whim)
Actually, my spouse works with a lot of teachers who have switched from other careers at 55 or 65. My own spouse comes from the corporate world and this is his 2nd career (although he moved to his 2nd career at a much younger age) but many of those teachers are considered some of the better teachers as they realized their passion later and are able to bring a lot of real world application to their classroom (as often they teach in a subject area close to what they did previously). While I don't think you can teach on a whim and to do K-12 you'd need to get a teaching certificate, there is a lot that 2nd career professionals can bring to the classroom and as a college instructor, many universities are looking for adjuncts who have that outside experience. If someone has a passion to do it, I certainly wouldn't discourage someone from going that route. You only have one life and I strongly believe that it is important to follow your passion. I didn't like my corporate job and don't want a job in that area, consulting or otherwise, but I love teaching and am passionate about teaching the subject.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by frugalmama » Fri Oct 12, 2018 8:42 am

DoTheMath wrote:
Fri Oct 12, 2018 6:40 am
mouses wrote:
Fri Oct 12, 2018 6:12 am
warner25 wrote:
Fri Oct 12, 2018 5:48 am
Plz wrote:
Thu Oct 11, 2018 11:11 pm
Part time or full time, whichever tickles your fancy. Also it doesn’t necessarily have to earn $1000/month. It could be more or less, as long as it’s not zero.

Personally, I think I would enjoy being a teacher, but haven’t really thought about this in depth, so I figured I’d ask all of you :)
Depending on what you mean by "teacher," you should know that comments like this are terribly insulting to teachers. When my wife was a high school math teacher, she was working 70-80 hours a week with lesson prep, grading, tutoring, and other duties, and frequently coming home in tears. It was anything but part-time or enjoyable. I guess you could be a sub, but that's less about teaching and more about babysitting.
Teaching at community college is an option. They often hire people to teach one course, and you're teaching older people who actually want to learn.
I think it is easy to overestimate how easy it is to get a job teaching at a CC and the level of pay, and underestimate the amount of work. My local CC is currently advertising for an adjunct instructor in business. This sounds like the sort of position relevant to the discussion here. You might imagine they're looking for someone with a few decades experience in industry who can roll in on Wednesday evenings to pontificate to an rapt audience about life in the business world.

Rather, the job requires the instructor to have a minimum of a Master’s degree in Business. The list of job responsibilities includes responsibility for instruction (including prep, grading, office hours, replying to emails, etc.), participation in the assessment of student learning outcomes, attending meetings as required, acquiring new knowledge and skills as appropriate and maintain license or professional certification specific to program requirements, among other things. They list a dozen courses you should be able to teach and you should be available during the day, evening and/or weekend as required by section assignment.

All to earn ~$2000 per course. No thanks.

People teaching at any level are doing the Lord's work.
I think it comes down to whether you are passionate about that kind of work, etc.. Between my spouse and I, we teach at public school, a university, and a community college (per course). We've been doing it for years and love our jobs...and they are second careers...we hated our higher paying jobs. Also, universities and community colleges often hire multiple people for the position advertised...we've always been able to accept/decline so we only teach when we want and what we want because we are adjuncts at the college level. To each his own, but I wouldn't discourage anyone who truly goes in informed and wants to do it.

frugalmama
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by frugalmama » Fri Oct 12, 2018 8:47 am

A sports official can easily net that on a part time basis...I do well over that currently.

I think working for any organization that I'm already heavily involved in - such as a church or not for profit. I currently put in quite a bit of time at my church and am paid for it and love it.

I could also see myself working at a grocery store...I did it in high school and loved stocking shelves and working with food and interacting with so many people. Everyone needs food, so you meet all types.

It doesn't bring you 1000 a month, but I'd love to be a campground host for short periods of time for the NPS too...although I don't think I'd want to do that all the time as I enjoy doing different things too much and don't like to stay in one place too long.

TonyDAntonio
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by TonyDAntonio » Fri Oct 12, 2018 8:56 am

If you are fit enough and in the San Francisco area then working part time on the Giants groundscrew, there are 50 of us, is a great retirement job.

1. Get to watch some MLB from the dugout.
2. No need for a gym membership.
3. Very flexible work hours.
4. Long off season to recharge.
5. Beautiful work setting.
6. $15 / hour.
7. Sunshine and fresh air.

I've made enough these last two years to make a full Roth contribution. 😀

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Glockenspiel » Fri Oct 12, 2018 9:07 am

Clever_Username wrote:
Fri Oct 12, 2018 12:00 am
Thought has crossed my mind of being a marshal at a golf course. Probably worth more than $1000/month for me if it includes golf privileges.
My father-in-law does this at a golf course near their lake home, 2 days a week, after retiring from his executive position. He loves golf and enjoys talking to the golfers. Seems pretty great to me.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Cycle37 » Fri Oct 12, 2018 9:08 am

Flip cars. Find bargains, divorces, underwater with payments etc. need to do research, know a good low cost mechanic to fix minor issues and pre check potential cars. fun to drive for a few months then sell. 3 $4k sales per year is around $12k. i wax, polish, detail myself. specialize in particular models, preferably older and stay with them, like jeep wranglers, land cruisers etc. older cars have lower insurance rates. my brother inlaw flipped an aston martin last year and made $27k but thats a rare situation.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by bhsince87 » Fri Oct 12, 2018 12:23 pm

If I could find a part time job that pays health insurance, it would be like an extra $1,100,000!!!

Our ACA costs w/o subsidies would be about $32k per year. Add to that the $12,000 in wages and that's a 4% withdrawal rate from $1.1 million.

Of course, that also assumes out of pocket med expenses would be zero under the part time job plan, which would probably not be the case.
Retirement: When you reach a point where you have enough. Or when you've had enough.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by nashirak » Fri Oct 12, 2018 12:57 pm

AlohaJoe wrote:
Fri Oct 12, 2018 2:11 am
A $1,000/month job means after-tax. Which means it really needs to be more like a $1,200/month job after FICA, state, federal, health care, etc. At $15/hour that's 80 hours a month. That's definitely not full time but it also assumes $15/hour. One of the jobs mentioned in the thread is Enterprise rental car part-time driver. According to their website that job has "Starting pay $8.00 per hour!". So with that job, you're looking at full-time 40 hours a week to make that $1,200/month.

I'm not sure there are actually that many decent, easy, flexible jobs that also pay $1,200 a month on a part-time basis.
Honestly it wouldn’t even be about the money. If everything goes to plan (or even close to it) we shouldn’t NEED to work at all in retirement. It’s more about staying active and engaged since I know we won’t be traveling all the time. I threw that one out there just as a low-key stress-free job to get out of the house some.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by DaftInvestor » Fri Oct 12, 2018 1:00 pm

Nicolas wrote:
Fri Oct 12, 2018 8:15 am
linenfort wrote:
Thu Oct 11, 2018 11:37 pm
Animal shelter assistant, but I don’t think it would pay anywhere near 1K.
My wife does this for free.
My spouse does this as well - although its not free - it costs us money (gas; things she buys to donate; etc.).
All the shelters in my area are volunteer based.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Jack FFR1846 » Fri Oct 12, 2018 1:07 pm

gclancer wrote:
Fri Oct 12, 2018 6:22 am
warner25 wrote:
Fri Oct 12, 2018 5:48 am
she was working 70-80 hours a week
I’m always curious about how people manage to work this much on a week in, week out basis. Was that 5, 15 hour days so that she at least had weekends to recoup? Or more like 6, 12 hour days? I’d imagine 7, 10 hour days would be hard to keep up for long.
80 hours is pretty easy to figure. 8 hours a day, 10 days a week. :greedy

My plan is to do everything.

Drive uber/lyft
drive cars from one dealer to trade with another dealer
work at Best Buy (and make money flipping discounted stuff)
work at a big box store
work at starbucks
work as a truck driver (maybe just one of those unmarked Amazon trucks)
Start a snow plowing business (small)
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by badger42 » Fri Oct 12, 2018 1:13 pm

Instead of teaching, I might consider tutoring.

Limited hours (offer what you want to offer), 1:1 instruction / student time, decent hourly rates (with whatever sliding scale you want, since it's probably more about keeping out of trouble than $$)

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Portfolio7 » Fri Oct 12, 2018 3:31 pm

Regarding tutoring, after college but before my 'real job' started, I took a couple months off. In between river-rafting and frisbee golf with my friends, I was the resident drop-in tutor at the local jc, I'd see just about anyone. I tutored science, math, english lit, spanish, accounting - got signed off by the professors so I could handle 90% of the student needs. I really liked tutoring english lit, not only did I get to talk about books (and read a few new ones), but it's amazing how just a few pushes in the right direction transformed their classroom experience. I wasn't as good with the Math, but there were times I was able to do the same thing there. It was very rewarding.


About working long hours, I used to wonder the same thing until I did it. There was a period in my life where 100 plus hour weeks were a not infrequent thing. Working 7 days and sleeping 3 to 5 hours a night. 80 hour weeks were a break (usu 5 x 16 hours). I was a bit trapped, mortage, two kids and SAH wife. I'm not counting travel or mealtime, it was a grind. After about a year of stupid crazy, I was able to jump to a different job in a different location.
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by texasdiver » Fri Oct 12, 2018 3:35 pm

pennywise wrote:
Fri Oct 12, 2018 6:40 am
Watty wrote:
Thu Oct 11, 2018 11:46 pm
“$1000/month job is worth $300k in retirement funds”


Bringing in a $1000 a month would make a huge difference for some people but I would have to question the $300K figure.
The math seems straightforward: $1000/month yields $12,000/year=4% withdrawal rate on $300,000 in retirement funds.

As for working I"m in agreement that my math is retirement=I don't have to work anywhere doing anything for any amount of money ever again :D
The 4% withdrawal is based on a lifetime of withdrawals....into your 90s and beyond when you in assisted living and senile.

A $1000 month job is only going to last for as long as you have the energy and ability to work. How long is that going to be? I suspect not more than 8-10 years at best for most people who retire at 65-68 years old. If you work 10 years at $1000/month that is really only $120,000 not $300,000.

So I would suggest that for most people, a $1000/month job in retirement is really more like replacing $100,000 - $150,000 of retirement savings at best, rather than $300,000.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by DoTheMath » Fri Oct 12, 2018 3:47 pm

frugalmama wrote:
Fri Oct 12, 2018 8:42 am
I think it comes down to whether you are passionate about that kind of work, etc.. Between my spouse and I, we teach at public school, a university, and a community college (per course). We've been doing it for years and love our jobs...and they are second careers...we hated our higher paying jobs. Also, universities and community colleges often hire multiple people for the position advertised...we've always been able to accept/decline so we only teach when we want and what we want because we are adjuncts at the college level. To each his own, but I wouldn't discourage anyone who truly goes in informed and wants to do it.
I agree completely! I'm glad to hear you love your work. Our well educated society (such as it is :-)) depends on people like you.

I didn't want to discourage people from teaching, but did want to push back on the common view that teaching is easy work for the pay, or that it is something which anyone can do without any particular training or skills. The "Those who can't do, teach" is all too widely believed, but couldn't be more wrong!
“I am losing precious days. I am degenerating into a machine for making money. I am learning nothing in this trivial world of men. I must break away and get out into the mountains...” -- John Muir

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by quantAndHold » Fri Oct 12, 2018 4:00 pm

texasdiver wrote:
Fri Oct 12, 2018 3:35 pm
So I would suggest that for most people, a $1000/month job in retirement is really more like replacing $100,000 - $150,000 of retirement savings at best, rather than $300,000.
Especially since all of the work would be done during the first 5-20 years of retirement, not at the end when it would be worth more. Using net present value of a 20 year annuity at 3%, I got something just under $150k. A shorter timeframe than 20 years would less.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Cycle » Fri Oct 12, 2018 4:03 pm

Blogging about consumerism, moderating a forum where seniority was indicated by the size of ones mustache.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by GoldStar » Fri Oct 12, 2018 4:09 pm

Cycle wrote:
Fri Oct 12, 2018 4:03 pm
Blogging about consumerism, moderating a forum where seniority was indicated by the size of ones mustache.
LOL - at $400,000 annually that's just a little more than $1000 monthly :happy

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by Atilla » Fri Oct 12, 2018 4:18 pm

TonyDAntonio wrote:
Fri Oct 12, 2018 8:56 am
If you are fit enough and in the San Francisco area then working part time on the Giants groundscrew, there are 50 of us, is a great retirement job.

1. Get to watch some MLB from the dugout.
2. No need for a gym membership.
3. Very flexible work hours.
4. Long off season to recharge.
5. Beautiful work setting.
6. $15 / hour.
7. Sunshine and fresh air.

I've made enough these last two years to make a full Roth contribution. 😀
Yeah, not at a ballpark but I totally want to get back to grounds-keeping/landscaping. I worked my way through college doing that and I miss it. In 4 more years. God willing...
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by dm200 » Fri Oct 12, 2018 4:20 pm

I won't go into all the details here, but In November I will transition into a different part-time position earning about $2,000 gross per month for 20 hours a week work on a flexible schedule. Back office work for a financial related entity. I am very happy and pleased that this opportunity was available to me at my "advanced" age of 72.

I think and hope I will enjoy it. I think (and hope) it is challenging enough to not be dull and boring, but not stressful either.

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by dm200 » Fri Oct 12, 2018 4:22 pm

TonyDAntonio wrote:
Fri Oct 12, 2018 8:56 am
If you are fit enough and in the San Francisco area then working part time on the Giants groundscrew, there are 50 of us, is a great retirement job.

1. Get to watch some MLB from the dugout.
2. No need for a gym membership.
3. Very flexible work hours.
4. Long off season to recharge.
5. Beautiful work setting.
6. $15 / hour.
7. Sunshine and fresh air.

I've made enough these last two years to make a full Roth contribution. 😀
Good for you!

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by LadyGeek » Fri Oct 12, 2018 4:22 pm

This thread is now in the Personal Finance (Not Investing) forum (career guidance).
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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by MSO4PRN » Fri Oct 12, 2018 4:28 pm

car porter in between dealerships
butcher
part time greenskeeper at golf course/ driving range
work PT at shooting range (trap/skeet)
Budtender in MMJ legal state

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Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Post by dm200 » Fri Oct 12, 2018 6:08 pm

dm200 wrote:
Fri Oct 12, 2018 4:20 pm
I won't go into all the details here, but In November I will transition into a different part-time position earning about $2,000 gross per month for 20 hours a week work on a flexible schedule. Back office work for a financial related entity. I am very happy and pleased that this opportunity was available to me at my "advanced" age of 72.
I think and hope I will enjoy it. I think (and hope) it is challenging enough to not be dull and boring, but not stressful either.
I also hope that my overall health and fitness will continue for many years - allowing me to continue to do this - or something similar.

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