No. of Recommendations: 11
This is from the RE Envy thread but seems like it might be a tangent that needs its own thread...

Seattle Pioneer advised: ....... I would really like to commend the idea of some kind of self employment as part of an Early Retirement strategy. There are lots of tax advatages plus I personally value the great flexibility it gives in controlling your income.

You might find you could retire five years earlier if you were willing to work a business three or four months per year or some such. It might be worth considering.

This concept is beginning to lots of appeal to me. Although the idea of being RE'd is still one I focus on, I am also coming around to the realization that I may not yet be 100% suited to having absolutely no job responsibilities. But I'm not sure that staying in/moving to another large organization in an administrative management position -- even in a part-time capacity -- is the way to go either. Besides, it appears very difficult to work for someone else on a part-time basis unless you are willing to do lower paying retail work. You (Seattle Pioneer) seem to have a particular skill set as a repairman and find it relatively easy to work on your own terms. Unfortunately, I don't currently have a hard-core, hands-on skill set that is in high demand. My sense is that people with hi-tech skills can sometimes pull this off (although I also think many of them get sucked back into more and more hours). I have seen others take hi-tech skills and move to part-time teaching with community colleges, universities and proprietary schools. (Strictly speaking, they're not working for themselves, but the idea is pretty much the same.) Skilled tradesmen seem to have the best situation -- if you can install, fix or build something that people want installed, fixed or built it seems you are in good shape. What other skills lend themselves to this kind of part-time, intermittent working life?


Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.