So when I decided to focus on paying off my mortgage for the next few years I stated one of the reasons to consider doing that was to allow me to pull off a semi-retirement earlier than 45. So an obvious question is how much earlier since I have previous looked at doing this option when I was 40.
Well the truth be told, I could do it the day after I finish paying off the mortgage. Which would put me about age 36, about nine years earlier than my original goal. I could get away with working about three days at week at my current job. I would have enough to live on and also still have enough to continue saving for full retirement. Yet like all things there is a price to our choices. This choice would mean I would have to stay employed part time until about age 50.
The numbers on my quick analysis here isn’t as much as I normally do for a full run, so it might not actually be that long, but still the general concept is valid. If you go semi-retired earlier it allows you work less up front, but often you have to keep working longer on a total basis. So the real question becomes would you make that trade?
The reality is for me is I’m now seriously considering it. After all I never planned to stop working entirely when I pulled the plug at 45. I was considering doing some part-time or contract work anyway, but the income would just be for fun things like extra trips. So in the semi-retired case I end up just having to work for a few more years, rather than it being optional for a few years. In exchange I could possibly have four day weekends for nine extra years.
Obviously I’m not deciding this right now or anything. I’ve got a few years to roll this around in my head and think about what kind of work would I like to do if I did it. After all I don’t have to stay at my same job if I do this option, which is good considering I have no idea if my current job would allow me to work three days a week in the future.
So you might wonder why I’ve change my mind of this option from my last look at it. The reality is I’m starting to think people really shouldn’t be working full time. There is so much more to life than just a job, that I don’t think I want to push off getting more time for myself for too much longer.
So would you be willing to make a trade like this? More time off sooner, but you have to keep working longer.