This is a guest post by Dave, is also looking to retire no later than 45, but unlike Tim has no kids and doesn’t want any. Dave is from Ontario and is working towards his CGA certification.
I was pondering what to do with my extra time when I finish my last few accounting courses. Right now, the vast majority of my free time is spent doing assignments or studying for exams (I am taking an advanced auditing course). I am looking forward to the free time I will gain but I am wondering what I should do with all those extra hours. I have been toying with the idea of getting a second job.
If I were to get a second job, I would try to find something completely different than I do all day, something involving manual labour and where I could learn something that would be applicable to my everyday life, for example working at a garage on cars. This kind of job would allow me do a couple of things such as:
- Work with My Hands – Rather than my “normal” job sitting at a desk all day looking at numbers I could learn how to do something with my hands, which I could use outside of work, fixing my own vehicles which could save a significant amount of money over time by even doing minor repairs.
- More Money – I could earn some extra money. This isn’t necessarily needed at this point, but my simple math works out like this: 15 hours per week x $10 per hour x 50 weeks = $7,500 per year. This $7,500 could go a long way to reaching my financial goals, as it would basically pay for all my fixed expenses, which would mean that my “normal” job could all go towards paying down my mortgage or making significant investments, putting me that much closer to financial freedom.
The downside of picking up a second job is, of course, the loss of time. By working an extra 15 hours per week, I would be trading my time to work more, something which eventually I would like to not do. Given that some of the skills I would be getting paid to do are areas that I would think about taking classes on to learn how to do anyways, I would say that the tradeoff could be fair.
I won’t finish my accounting courses for another year or so, giving me time to ponder this decision. The good thing about this type of thing is that if I’m not happy doing it or not learning something I could always quit and be back to where I am right now. I am interested in learning new, hopefully useful skills, and I think this is one way, outside of going to a trade school and taking more courses.
Would you get a second job to learn something? Would you contemplate doing it to decrease the total years you need to work until retirement?