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

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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 Starfish » Fri Oct 12, 2018 11:01 pm

sport wrote:
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.
It's actually doing what you want without financial pressure. It can be paid.
It is also about time and doing something different in life. Something you did not have time to do before. Still could be paid.

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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 JoMoney » Fri Oct 12, 2018 11:33 pm

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.
FWIW, https://www.immediateannuities.com suggests a 40 year old male can buy a $1,000 month annuity for about $255k , for a 65yo $180k
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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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 WanderingDoc » Sat Oct 13, 2018 2:25 am

JoMoney wrote:
Fri Oct 12, 2018 11:33 pm
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.
FWIW, https://www.immediateannuities.com suggests a 40 year old male can buy a $1,000 month annuity for about $255k , for a 65yo $180k
I beg to differ on this figure as well. I own more than one property where I put down only $30-50K that generate more than $1000 monthly net - and that doesn't even include the tax benefits or capital appreciation. $1000 per month is worth $25-50K of my capital. And that not even a slam-dunk deal.
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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 MnD » Sat Oct 13, 2018 8:39 am

Secret shopper for tropical resorts, high-end steak houses and first class airline service.

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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 tibbitts » Sat Oct 13, 2018 8:52 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.
Many community colleges require an M-degree at a minimum, even for part-time, except for some trades, for which they require professional experience and certifications.

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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 tibbitts » Sat Oct 13, 2018 8:56 am

dm200 wrote:
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.
It's extremely rare for part-time to be an option, because the nature of most jobs mean that they are best served by either part or full time employees - one or the other. It will definitely not be an option for me, or anyone I work with.
Last edited by tibbitts on Sat Oct 13, 2018 8:58 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 jabberwockOG » Sat Oct 13, 2018 8:57 am

Giving your time and skill generously working for absolutely free for the good of others less fortunate in your community is the best possible pay. The rewards and sense of accomplishment are pretty amazing.

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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 tibbitts » Sat Oct 13, 2018 9:04 am

WanderingDoc wrote:
Sat Oct 13, 2018 2:25 am
JoMoney wrote:
Fri Oct 12, 2018 11:33 pm
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.
FWIW, https://www.immediateannuities.com suggests a 40 year old male can buy a $1,000 month annuity for about $255k , for a 65yo $180k
I beg to differ on this figure as well. I own more than one property where I put down only $30-50K that generate more than $1000 monthly net - and that doesn't even include the tax benefits or capital appreciation. $1000 per month is worth $25-50K of my capital. And that not even a slam-dunk deal.
Owning real estate directly (except through a financial product, passive role in a partnership, etc.); buying an annuity is a passive activity, once you choose one.

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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 » Sat Oct 13, 2018 9:14 am

This forum maintains a "family-friendly" environment. Not just for language, but subject matter.

I removed a comment and several replies relating to an "adults-only" profession that is above this threshold.
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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 RickBoglehead » Sat Oct 13, 2018 10:18 am

Where does this quote come from? I can't imagine how $12,000 pre-tax comes close to $300k ever.

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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 JoMoney » Sat Oct 13, 2018 10:31 am

RickBoglehead wrote:
Sat Oct 13, 2018 10:18 am
Where does this quote come from? I can't imagine how $12,000 pre-tax comes close to $300k ever.
Probably because $12,000 x 25 = $300,000 ; 4% SWR(rule of thumb) on $300,000 = $12,000
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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 RickBoglehead » Sat Oct 13, 2018 10:36 am

Yeah, I'm not working for 25 years in retirement... If at all.

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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 CyclingDuo » Sat Oct 13, 2018 10:42 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 :)
Working part-time is a classic part of the retirement income structure for many who are willing and able.

If you think of your retirement income as a piece of furniture with a certain number of "legs" where each leg represents where some of the money will come from, there is nothing wrong with some part-time work becoming one of those "legs". At least for a period of time that one is able to take advantage of having a part-time job in the retirement years.

It is much more common for seniors in retirement than is being addressed here.

More than half (54.7 percent) of people age 60 to 64 and nearly a third (31.2 percent) of those age 65 to 69 were working at least part-time in 2017.
https://www.cnbc.com/2018/06/13/3-key-c ... -work.html

Among 65- to 74-year-olds, labor force participation is predicted to hit 32 percent by 2022, up from 20 percent in 2002. At age 75 and up, the rate will jump from 5 percent in 2002 to 11 percent in 2022. Meanwhile, participation rates among younger age groups will be flat or will even fall.
https://www.aarp.org/work/working-after ... iness.html

In a certain percentage of the senior population who work part-time, it's not even about the money. There are elements of identity, staying active, purpose, socializing, mental stimulation, etc.... that may be as beneficial or even more beneficial for seniors than the money they earn. Our parents all did some form of consulting or part-time work into their 80's even though financially it was not a requirement. They did things such as work at an art gallery, a physical therapy substitute, retired minister who officiated at weddings/funerals and filled in for ministers who were on vacation, one even did a decade of tour guide work during the tourist season. In all cases, the joy that this part-time work provided them - at least in my opinion - was more about the social interaction, identity, keeping active physically/mentally, etc.... than the coin it paid.

We can all attest to plenty of talk regarding SWR's here on BH forums that cover the different legs of the retirement income piece of furniture (whether it is a three legged stool, four legged stool/chair, or even more). Your mention of part-time work adds one more potential "leg" for an investor that could draw from any combination of:

Leg: pension
Leg: Social Security spouse 1 & Social Security Spouse 2
Leg: 401k/403b/457b/tIRA/Roth IRA/Deferred Annuity
Leg: dividends from taxable account
Leg: taxable account selling of shares
Leg: rental income
Leg: consulting work/part-time or full-time work for salaried income
Leg: sale of real estate or business

Whether or not $1K per month equates to a $300K chunk of retirement funds based on a 4% SWR might not be the best analogy. However, it does mean potentially not having to draw down as much from the risk portfolio during those part-time years to the tune of whatever the amount of income one can get via some part-time work, or consulting work (your mention of $12K per year).

The work force is filled with a lot of workers who have retired from their full-time position careers and are doing just as you suggest. Add in the many who also do volunteer work in addition to some part-time paid work, and it's clear that life involving some form of "work" does not just end when the full-time position career ends. :beer
Last edited by CyclingDuo on Sat Oct 13, 2018 10:59 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 Cycle » Sat Oct 13, 2018 10:48 am

I would consider continuing to be a landlord which net expenses is about 1000 per month.

We just bought some radiator covers which were made by a retiree.

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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 » Sat Oct 13, 2018 10:57 am

RickBoglehead wrote:
Sat Oct 13, 2018 10:18 am
Where does this quote come from? I can't imagine how $12,000 pre-tax comes close to $300k ever.
I think the 4% "rule. 4% of $300,000 is $12,000.

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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 dm200 » Sat Oct 13, 2018 11:00 am

tibbitts wrote:
Sat Oct 13, 2018 8:56 am
dm200 wrote:
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.
It's extremely rare for part-time to be an option, because the nature of most jobs mean that they are best served by either part or full time employees - one or the other. It will definitely not be an option for me, or anyone I work with.
Yes - not very common. However, this is due to:
1. The need of the organization
2. My connections with the organization
3. My experience and qualifications
4. Modest salary and get almost no benefits, such as medical, etc. I do get PTO.
5. The nature of what I will be doing can fit with part-time

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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 » Sat Oct 13, 2018 11:01 am

One category of common part-time positions is being a teller at a bank or credit union. They often staff with some part timers to deal with peak hours and days.


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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 » Sat Oct 13, 2018 12:10 pm

Even if in generally good health, most older folks will have more Doctor appts, etc.

One nice thing about part time positions is that you can have such appts - and not be perceived as being away from work a lot.

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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 finite_difference » Sat Oct 13, 2018 12:24 pm

Assuming I get good enough by retirement age, I would teach Tai Chi / Kung Fu.

20 students, $100/month average, would hopefully yield about $1k/month assuming 100% overhead (need a space for classes and there will be insurance/taxes.)

It’s hard to get that many students though. I would probably be struggling to break even for a long time. Ideally I would be in a position where if I had any profits I would put them back into the community.

But I think most retirees could generate a little income either by teaching adults a skill or tutoring/watching kids (if they wanted.)
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh

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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 WanderingDoc » Sat Oct 13, 2018 1:12 pm

tibbitts wrote:
Sat Oct 13, 2018 9:04 am
WanderingDoc wrote:
Sat Oct 13, 2018 2:25 am
JoMoney wrote:
Fri Oct 12, 2018 11:33 pm
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.
FWIW, https://www.immediateannuities.com suggests a 40 year old male can buy a $1,000 month annuity for about $255k , for a 65yo $180k
I beg to differ on this figure as well. I own more than one property where I put down only $30-50K that generate more than $1000 monthly net - and that doesn't even include the tax benefits or capital appreciation. $1000 per month is worth $25-50K of my capital. And that not even a slam-dunk deal.
Owning real estate directly (except through a financial product, passive role in a partnership, etc.); buying an annuity is a passive activity, once you choose one.
Except an annuity you lose your entire principal at the end. Real estate, where you cash flow goes from the $1000 to ~$3000 once the tenants finish paying off your mortgage. $300K to generate $1000/mo. and lose your principal vs. $30K to generate $3000/mo. where your principal only goes up due to principal paydown and appreciation.. its a tough choice.
Don't wait to buy real estate. Buy real estate, and wait. | Rent where you live, buy where others pay your mortgage 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 ram » Sat Oct 13, 2018 1:42 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.
At one point of time in my life I have worked 100+ hours a week. For about 4 years. About 10 years ago laws were made to restrict trainee physicians (residents/ fellows) to 'only' 80 hours per week. They now are required to get a 24 hour stretch of free time including a full night per week 'on an average'. Our generation was not provided this luxury. You simply prioritize sleep over everything else.

No disrespect to teachers but I think these residents work under more stress than a typical school teacher.
Ram

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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 » Sat Oct 13, 2018 1:46 pm

ram wrote:
Sat Oct 13, 2018 1:42 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.
At one point of time in my life I have worked 100+ hours a week. For about 4 years. About 10 years ago laws were made to restrict trainee physicians (residents/ fellows) to 'only' 80 hours per week. They now are required to get a 24 hour stretch of free time including a full night per week 'on an average'. Our generation was not provided this luxury. You simply prioritize sleep over everything else.
No disrespect to teachers but I think these residents work under more stress than a typical school teacher.
I was in the computer business when computers filled whole rooms ans floors (IBM System 360) and we had to have physical access to these computers - which meant, usually, nights and weekends. At times, to meet deadlines, that meant long hours, sometimes around the clock. I could do that when I was young :)

I suspect, though, not like medical stress around the clock. And, if we made a mistake, just "Re-IPL" .. Nobody died in our case.

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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 ram » Sat Oct 13, 2018 3:20 pm

I know some retired physicians doing one or two weekend calls per month. If you cover call from home from friday 5 pm to monday 8 am you can net >1000/ month. This entails being available to come to the ER/ hospital at short notice at any time and doing what needs to be done if called in and covering phone consults. Most people do it for only a couple of years after retirement because maintaining the skill, the CME and licencing is not worth it in the long term.
The employer also needs to cover the liability insurance for this to happen. Many of them enjoy the ability to meet old friends.
Ram

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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 » Sat Oct 13, 2018 3:32 pm

ram wrote:
Sat Oct 13, 2018 3:20 pm
I know some retired physicians doing one or two weekend calls per month. If you cover call from home from friday 5 pm to monday 8 am you can net $20/hr x 55 hours = $1100 (or more) for the weekend. This entails being available to come to the ER/ hospital at short notice at any time and doing what needs to be done if called in and covering phone consults. Most people do it for only a couple of years after retirement because maintaining the skill, the CME and licencing is not worth it in the long term.
The employer also needs to cover the liability insurance for this to happen. Many of them enjoy the ability to meet old friends.
The father of a former coworker was an Ophthalmologist. When he reached retirement age, he brought in a younger Ophthalmologist - stopped doing surgery - and saw patients a few hours a week (about half time).

A local doctor turned over most of his practice to his son, but kept on seeing some patients part time. He recently, finally, retired at age 87.

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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 » Sat Oct 13, 2018 5:45 pm

finite_difference wrote:
Sat Oct 13, 2018 12:24 pm
Assuming I get good enough by retirement age, I would teach Tai Chi / Kung Fu.

20 students, $100/month average, would hopefully yield about $1k/month assuming 100% overhead (need a space for classes and there will be insurance/taxes.)

It’s hard to get that many students though. I would probably be struggling to break even for a long time. Ideally I would be in a position where if I had any profits I would put them back into the community.

But I think most retirees could generate a little income either by teaching adults a skill or tutoring/watching kids (if they wanted.)
I make minimum wage teaching taiji and qigong at a local college. The director of the school I have gone to for the past dozen years has run the school for 40 years. He charges $150/month, has 30-50 students on the books at any given time, brings in Chinese masters for weekend workshops several times per year, and works very hard. Some months, once he’s paid expenses, he can’t take any salary.

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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 » Sat Oct 13, 2018 6:11 pm

ram wrote:
Sat Oct 13, 2018 1:42 pm
At one point of time in my life I have worked 100+ hours a week. For about 4 years.
Just curious, was that 100 hours spent at your place of employment? As in 24 hour shifts where you were sleeping some of the time? I ask because it just seems impossible to literally work 100+ hours per week. Not suggesting that a 24 hour shift where you’re permitted to sleep is easy by the way.

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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 2015 » Sat Oct 13, 2018 9:05 pm

sport wrote:
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.
This.
I just moved to paradise. Tonight the dusk sky was alive with color, the mountains turning different hues, and the air seemed to wrap itself around me. I sat out having a beer marveling at how perfect everything was. Why on earth would I throw that away being distracted with working? Lifestyle Design is my job now, and it pays in ways working never ever could.

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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 MDfan » Sat Oct 13, 2018 9:09 pm

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.
Exactly my plan. Make some extra $ and reduce one of my primary expenses.

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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 finite_difference » Sat Oct 13, 2018 9:17 pm

quantAndHold wrote:
Sat Oct 13, 2018 5:45 pm
finite_difference wrote:
Sat Oct 13, 2018 12:24 pm
Assuming I get good enough by retirement age, I would teach Tai Chi / Kung Fu.

20 students, $100/month average, would hopefully yield about $1k/month assuming 100% overhead (need a space for classes and there will be insurance/taxes.)

It’s hard to get that many students though. I would probably be struggling to break even for a long time. Ideally I would be in a position where if I had any profits I would put them back into the community.

But I think most retirees could generate a little income either by teaching adults a skill or tutoring/watching kids (if they wanted.)
I make minimum wage teaching taiji and qigong at a local college. The director of the school I have gone to for the past dozen years has run the school for 40 years. He charges $150/month, has 30-50 students on the books at any given time, brings in Chinese masters for weekend workshops several times per year, and works very hard. Some months, once he’s paid expenses, he can’t take any salary.
Interesting, thanks for the info!

1. You make $7.25/hour.. how many hours per week and any benefits you get with that, e.g. health insurance?

2. How does he have ~$72,000 in expenses? Unless he is paying to fly in those masters, and/or pays a lot for real estate.

I know it’s not something you do for the money, but that is pretty bleak.
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh

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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 AlphaLess » Sat Oct 13, 2018 9:18 pm

I would enjoy doing exactly my current job in retirement.

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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 » Sat Oct 13, 2018 9:22 pm

AlphaLess wrote:
Sat Oct 13, 2018 9:18 pm
I would enjoy doing exactly my current job in retirement.
Congratulations on achieving nirvana!
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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 ram » Sat Oct 13, 2018 11:22 pm

gclancer wrote:
Sat Oct 13, 2018 6:11 pm
ram wrote:
Sat Oct 13, 2018 1:42 pm
At one point of time in my life I have worked 100+ hours a week. For about 4 years.
Just curious, was that 100 hours spent at your place of employment? As in 24 hour shifts where you were sleeping some of the time? I ask because it just seems impossible to literally work 100+ hours per week. Not suggesting that a 24 hour shift where you’re permitted to sleep is easy by the way.
I typically spent 165 out of the 168 hours of the week at my "place of employment". I lived in a small apartment along with 300 other residents about 200 yards from the hospital. A typical work day would be about 7 am to 8 pm for 4 days of the week. Two days of the week would be 24 hour shifts with intermittent 3 to 4 hours of sleep in those shifts. Sundays would be light about 7 to 12 noon and again 5 to 8 pm for evening rounds except that every 6 th Sunday would be 24 hours. My family (parents) lived 4 miles away and I would visit on Sundays for 2 to 3 hours while my colleague covered for me. Then he would take 3 hours off while I covered for him. I was single at that time.

With the new rules I believe residents have to be given 8 hours off after a 28 hour shift.

https://knowledgeplus.nejm.org/blog/acg ... uirements/

https://en.wikipedia.org/wiki/Medical_r ... work_hours
Ram

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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 InMyDreams » Sun Oct 14, 2018 12:11 am

census worker?

tax preparer?

I met a woman who had worked as a clinic nurse. When the clinic was closed, and she was laid off, she started working as a "stat" delivery driver - she loved 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 Scott S » Sun Oct 14, 2018 1:10 am

I'm curious what precipitated this thread. The quote makes it sound like it came from an article or thread somewhere, but no link was provided.

Nevertheless, after reading some of the math, it's good to be reminded that it doesn't take much income to stretch your retirement savings further if need be. :beer
My Plan: (Age-10)% in bonds until I reach age 60, 50/50 thereafter. Equity split: 50/50 US/Int'l, Bond split: 50/50 TBM/TIPS.

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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 » Sun Oct 14, 2018 10:56 am

MSO4PRN wrote:
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
Many years ago, my late father would to rental car relocation with some other of his friends.

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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 JamalJones » Sun Oct 14, 2018 12:10 pm

I think getting a job as a substitute teacher is one of the best retirement jobs you could have (obviously my opinion).

I had this job for about 8 months after I graduated college. And it paid $75 per day you subbed (that was in a small rural school district 20 some years ago). I remember thinking at the time - "This would be a great retirement job!" I plan on doing it when I "retire".

You could make ~$100 - $150 per day in many school districts.

In a larger school district you would likely get paid on the higher end of the scale as well as get more opportunities to sub.

And in fact, some school districts give you a pay raise if you accept substitute positions for your first 20-30 days or something like that.

It's easy work. As someone said up thread, it's like baby sitting, but the hours are much better!

So let's say you sub in a district that pays you $150 per day. And there's 184 school days in a year. That's $27,600 per year!

Now of course you probably won't sub everyday even if you wanted to. But you could probably get $18,000 - $22,000 a year and potentially more if you were motivated. That's a great supplement to Social Security, retirement accounts and other various savings you might have.

Cons:
*You won't know where exactly you'll be subbing day to day
*You get the "Can you fill in today?" calls early in the morning
*You get paid monthly instead of weekly or every two weeks
*Might not get good information from teacher on what the plan for the students is that day (maybe this is not as much of an issue today with everything being online. Teachers maybe now would just put the instructions for the sub on school website section for subs).

Pros:
*Easy money
*Work when you want to (within reason). You could tell them days you're available and days your not
*Summers, X-mass, Spring break, weekends, holidays off
*Opportunities for "long term" or "preferred" status (small bumps in pay, more opportunities)
*If you're friends with a teacher they could ask the substitute coordinator for the district to ask for you to sub - so you can perhaps lock in those opportunities.
*Depending on the district you could set your grade preference (I preferred subbing in for high school because it was less work. No one is going to expect you to teach them trigonometry or break down the themes of "The Bridge Over San Luis Rey"). With elementary school kids, they sometimes actually expect you teach them things1 (:)). But I still accepted elementary school gigs.
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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 JBTX » Sun Oct 14, 2018 1:03 pm

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 have a friend that does this for business related classes. He is actually still working full time and does this on the side. It doesn't make a ton, something like $7000-$8000, but after the first time doing it your materials are already created so the incremental work to do it a second time for the same class is much less than the first.

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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 Earl Lemongrab » Sun Oct 14, 2018 3:11 pm

I had considered software contracting or freelance development. When I retired, I found I had no real interest in that. My portfolio is sufficient that I don't think that will necessary. I'm considering a few "for fun" software projects.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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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 » Sun Oct 14, 2018 3:13 pm

Know several folks who are school crossing guards. I was surprised to learn that, apparently, in this jurisdiction - they get health insurance benefits, although probably not if already on Medicare.

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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 EnjoyIt » Sun Oct 14, 2018 4:03 pm

Amateur poker player. I am pretty sure I can make some decent cash playing part time a few days a week.
I can make a few thousand a year churning credit cards, bank accounts and investment accounts.
I can make a little extra cash in those high yield checking accounts that have strict requirements.
I can probably make a little money being an uber driver every so often.

$1k+ a month won't be too hard and kinda fun as well.

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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 » Sun Oct 14, 2018 4:05 pm

EnjoyIt wrote:
Sun Oct 14, 2018 4:03 pm
Amateur poker player. I am pretty sure I can make some decent cash playing part time a few days a week.
I can make a few thousand a year churning credit cards, bank accounts and investment accounts.
I can make a little extra cash in those high yield checking accounts that have strict requirements.
I can probably make a little money being an uber driver every so often.
$1k+ a month won't be too hard and kinda fun as well.
None of these match my skills and/or aptitudes.

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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 EnjoyIt » Sun Oct 14, 2018 4:08 pm

dm200 wrote:
Sun Oct 14, 2018 4:05 pm
EnjoyIt wrote:
Sun Oct 14, 2018 4:03 pm
Amateur poker player. I am pretty sure I can make some decent cash playing part time a few days a week.
I can make a few thousand a year churning credit cards, bank accounts and investment accounts.
I can make a little extra cash in those high yield checking accounts that have strict requirements.
I can probably make a little money being an uber driver every so often.
$1k+ a month won't be too hard and kinda fun as well.
None of these match my skills and/or aptitudes.
I will likely credit card churn just a little as I do now, play poker every so often as I do now, and very unlikely be driving uber. But you never know. It is nice to know the option is always available if need be.

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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 legio XX » Sun Oct 14, 2018 6:51 pm

JamalJones wrote:
Sun Oct 14, 2018 12:10 pm
I think getting a job as a substitute teacher is one of the best retirement jobs you could have (obviously my opinion). I had this job for about 8 months after I graduated college. And it paid $75 per day you subbed (that was in a small rural school district 20 some years ago). I remember thinking at the time - "This would be a great retirement job!" I plan on doing it when I "retire".
This depends on the requirements of the district you want to sub in. I did this for a short time after my BA - over 50 years ago when the day rate was $23 - and I wouldn't have called it "easy" even then, but today I can't set foot in a public school classroom despite the PhD. I'm qualified as a college prof, but not as a public school teacher. The licensing process is onerous and takes a couple of years.
As for Community College gigs - depends on what your local CC needs taught. Some courses still need anyone who can actually do the content, but most require certifications - a state teaching license as an ESL or math teacher helps. In some fields you would be competing against PhDs half your age to teach basic comp pimped out as survey-of-whatever. The conditions vary from having office hours in your car to being treated as a real faculty member (except by HR). Rewarding? Frequently. Easy? Nevah!

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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 WanderingDoc » Sun Oct 14, 2018 7:35 pm

gclancer wrote:
Sat Oct 13, 2018 6:11 pm
ram wrote:
Sat Oct 13, 2018 1:42 pm
At one point of time in my life I have worked 100+ hours a week. For about 4 years.
Just curious, was that 100 hours spent at your place of employment? As in 24 hour shifts where you were sleeping some of the time? I ask because it just seems impossible to literally work 100+ hours per week. Not suggesting that a 24 hour shift where you’re permitted to sleep is easy by the way.
Tell that to a surgical resident. Then ask them if they are counting hours of sleep in that. 8-) 100, 110, 120 hour weeks are all common in a surgical residency (even post work hour "limitations") and a junior associate attorney.
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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 WhyNotUs » Sun Oct 14, 2018 7:41 pm

Dog or cat sitter, depending on your passion
I own the next hot stock- VTSAX

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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 » Sun Oct 14, 2018 8:32 pm

As a reminder, we maintain a family-friendly environment. Not just for language, but subject matter.

I removed an off-topic post (and the one quoted) suggesting a profession which is intended for adults-only.

Note that professions held by either gender will be removed.
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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 » Sun Oct 14, 2018 9:22 pm

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.
After some time marinating on your post, I’m still not sure why wanting to become a teacher during retirement is insulting. I never said it would be easy or that I could land a job without trying, I simply said I think I would enjoy it.

Before I jump to any conclusions, could you please elaborate on what you mean? I’m not trying to pick a fight at all, I just want to make sure that I understand fully, because becoming a teacher later on in my life is something I am seriously considering.

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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 MathWizard » Sun Oct 14, 2018 11:18 pm

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 :)
Teaching in college is not bad. I did this. You get respect

Teaching in K-12 is not something I would recommend unless you start young. The things kids
get away with in school would get you fired at your job for harassment.

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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 » Mon Oct 15, 2018 6:45 am

Plz wrote:
Sun Oct 14, 2018 9:22 pm
...could you please elaborate on what you mean?
I just took your thread title to imply that teaching is a "retirement job," as if teachers are like retirees. As if it might be fun, easy, and not too much work after a career of hard work. Like I said earlier, my wife felt anything but retired as a public high school teacher. Call it a second career, but not a retirement job. I guess part of the issue is that the internet FIRE community has really muddled the definition of "retirement." And to be fair, you didn't say much so one could interpret your post differently.
Edited to ask: What if someone called your occupation a retirement job?

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