Posted by Dave on July 16, 2013
I read an interesting post on one of the many blogs I follow and would highly recommend for people who enjoy free-thinking, no BS opinions on anything from politics to diet and exercise. The blog post focuses on the writer’s current state of boredom and how he would like to work in a specific industry. The writer has been out of the workforce, working as an entrepreneur in the finance industry for the last decade or so, and would have difficulty with the common method of entering the workforce – especially when he did not want to engage in entry level work.
His method of attempting to get work was to send a letter to the company he wished to work for, explaining previous applicable experience and offering to work (on a trial basis) for 60-90 days in the position he feels he would fit best in.
While I enjoy the inventiveness of the method, I’m not sure how many employers would take the writer up on his offer. Most Human Resource departments which I have dealt with personally, or acquaintances have interacted with wouldn’t really accept this kind of arrangement, although these are generally for relatively large firms and entrenched with fixed hiring policies.
I found the message of the blog post interesting as someone who is interested in Early Retirement, as at some point after retiring, I might get bored or interested in a field of work that would make me want to rejoin the workforce.
Working on a trial basis would resolve a couple of issues that come up with jobs:
Does the job that I end up doing match what was actually advertised? I’ve had several positions that sounded really good on paper, but turn out to be completely different.
Do I really like to do the work? Even if the job matches what was advertised and the duties are the same as what was discussed during the interview, I may have second thoughts about it or decide it isn’t for me.
If I had attained financial independence, I would be able to afford to take the job for interest sake and try it out before I committed to a longer term contract. Ideally, this option would be available at all jobs. I think employees would be happier, because they have chosen the job they’re doing long-term and employers would be happy because there is a fixed “trial period” that is agreed on.
Realistically, in a wider scale, this kind of relationship would probably be exploited by employers, who would just turn employees over to get cheap labour. If done professionally and transparently though this kind of agreement would be ideal.
I don’t think I would have any interest in returning to the workforce once I leave, but making this kind of deal with an employer might be a good way to get a foot in the door with a “stale” resume.
Would you work for free if it was a job you thought you really wanted (and you could afford to)?
Posted by Tim Stobbs on November 23, 2012
Sorry for not having a bit more of a substantial post for you today. I’m redoing my retirement calculation series of posts for next week and got sucked into writing that, so today’s post is really just a few links of stuff I liked reading in the last while.
Career and Passion are not linked. So to the “do what you love” crowd this post was a blow, but very good reading. I suggest watching the video if you have the time.
I loved this post by Kerry as it proves eating health doesn’t have to be expensive.
Meanwhile MMM mentioned he is off to Hawaii for the winter. I suspect this should triggers some people’s entitlement reflex on “where are our regular posts?” Keep in mind he actually is retired…he likes to write, but doesn’t need to.
I love this kind of post where retirees share their lives after they leave work and their thoughts on the everyday. Thanks Syd.
If you have a link to something you enjoyed reading please share it in the comments. Just try to keep it to one link if you add too many you might get sucked into the spam folder.
Posted by Dave on November 15, 2011
My wife and I had a big day last week – we finally reached the top of our piggy-bank (an empty three liter bottle of Canadian Club – a remnant from a party in my past) and were able to count all of our change. Although it may not be a momentous occasion to most, it’s fun for us because it essentially means we get free money to do something fun for a weekend (we’re thinking Niagara Falls during off-season or Toronto to see a show). Because we rarely spend cash, this level of change saving (quarters and below) has taken us around three years to accumulate, so we are going to enjoy ourselves on this miniature “windfall”.
Besides our “adult” piggy-bank, I utilize an ING account for my own personal spending – I save $20 per paycheque that I use to save up for golf, video games, and other money-losing purchases. Because I don’t make withdrawals from this account very often once in a while I’m able to have a balance over $1,000 to finance my expensive hobbies.
None of these savings amounts are working towards my end goal of financial independence. Slowly but surely, I have built a buffer for my sometimes poor purchasing decisions, a strategy that could be carried into my early retirement years, either because I have stopped making these kind of decisions totally (which would certainly help in reducing the amount of stuff in my house), or because my “fun” savings has built up significantly.
This kind of long-term saving, something that I have done from a young age onward (something my parents both drilled into me) bodes well for an early-retirement goal – expanding the same type of mentality to gradually watch my debt decrease (my mortgage disappearing) and eventually passive income increasing (dividends or interest) is something I have “trained” for over a 20-year period.
If someone has never experienced delayed gratification, they would think I was nuts, waiting until all that loose change reached to top of the bottle before making plans for a relatively cheap weekend away in the grey days of January. Yes, I could easily afford this purchase but I have already ear-marked a significant portion (around 75% of my paycheque) to paying down my mortgage. If I chose to spend that money on a weekend away it would be putting me further away from my ultimate goal of exiting the workforce as quickly as possible.
Do you have a “piggy-bank”? Do you never splurge, or how do you afford the odd amount of overspending?
- This article shows how not to spend a $6 billion fortune (Not a problem I’m concerned with, but I’m not exactly sure what demographic reads this Blog).
- I recently taught myself how to bake pies (from scratch). This discovery has definitely made it much easier to decide what to bring to people’s houses when you’re invited over – everyone loves homemade pie. I would highly recommend learning how to make this relatively cheap dessert for the holiday period.