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Two Jobs and Retire Early?
70_hours_week wonders: "A Survey of teachers in a Nevada school district indicate that 40% have a second job. Do you have a second job? Assume you are 30 and since you like to save your money you could semi-retire by age 50. Now, what if you could nearly double your salary working a second job and that meant you could semi-retire at age 40. Would you do it?"
Less money, but more family time is a value choice that my wife and I decided on before we got engaged.
"I don't know, therefore Aliens" Wafflebox1
I suspect any two jobs so cleanly compartmentalized that you can do both adequately are likely to skew toward mundane work, unlikely to pay enough (individually or together) to support retirement by age 40 with any kind of lifestyle you'd want yourself or your family to have. I would guess most people working two (or more) jobs aren't ambitious so much as limited by their options and life circumstances, and doing that work to support families, service debt, etc.
Early retirement is not ludicrous. I started a plan to allow me to retire at 45 when I was 25. I am now 33 and could still make the target... worst case is I will be 50 barring something unforseen.
I work forty hours per week. My wife stays home with the kids. My house will be paid off after nine years of mortgage payments. I don't need to keep up with the Jonses. I bought a house that was about one year's gross income (less now)... a fixer upper, but it has also been fun learning to do things. We share a car. Used. Buddy is a mechanic on a car lot... got me a great deal for about half of blue book.
I don't mind working, but don't want to HAVE to work. When I hit fifty, I want to be able to work volunteer, and not have to worry about a paycheck. It means a slightly smaller lifestyle than most of my friends, but frankly when I see a BMW, I am thinking "big money wasted".
Now, would I work eighty hours to make it happen at 40 instead of 50? Nope. Life is too precious, and there is always the law of diminishing returns. I do enjoy my job, but that would cease if it became eighty.
Like anything in life it is about trade offs and moderation.
See my journal for slashdot ID's by year. Mine created in 2005. http://slashdot.org/journal/289875/slashdot-ids-by-year
Bad summary. The article doesn't discuss people working multiple jobs to retire early, it's discussing a school district that pays its starting teachers so low that the teachers can't make ends meet. Unsurprisingly, the district has more than one thousand openings unfilled.
Ann Marie Perone's SUV is like her second home.
So let me get this straight, you drive an expensive gas guzzler then give me some boo-hoo story about how you have to work 2 jobs? Maybe if you would drive something PRACTICAL then you could save money and not have to work another job.....
Living in Germany and Japan opened my eyes, Americans just consume too god damn much. I have become a minimalist and love every minute of it. My only guilty pleasure is travel, but I spend less on travel each year than most people spend on gas for their SUVs.
Monstar L
Comment removed based on user account deletion
As one who is approaching retirement and could probably retire today, I will say that AFAICT the joys of retirement are over-rated.
If you work in a job doing what you love, you can mostly forget even thinking about retirement, and leave it as a contingency for when your powers start failing. Granted, one must work in joyless jobs sometimes before getting into a career that matches the promptings of your heart. In that case, work as many jobs as needed to get past that point. Just remember that your goal is not to not have to work, but to reach a plateau where your work suits you.
IMHO life is not about getting to a finish line earliest, but rather about the fruit your presence here produces. It has been noted elsewhere that a tree that produces no fruit is only suitable for the fire.
That's just silly. Two full-time jobs would mean twice as much time to read Slashdot. :)
You poor, sad, horribly-mistaken individual. I sincerely hope you're being sarcastic. I know many, MANY teachers, and not a single one of them does it for the money or because it's an "easy" job. They do it because they love to teach, but they aren't getting rich doing it.
The teacher's day doesn't begin at 8:00am and end at 3:00pm. There are long hours every day of grading in-class assignments, checking homework, and preparing for the next day. Teachers also most certainly do NOT get the summer off. A lot of time is spent during the summer preparing new lesson plans for the comming school-year, and a lot of districts are adopting a "year-round" schedule, which means an even greater percentage of down-time is spent getting things together for the upcoming term. In addition to their own classroom tasks, there are also faculty meetings, PTA meetings, and various conferences with parents that come up.
On top of all of that, you have the students. No classroom anywhere is 100% full of well-behaved, polite children. In any group you work with, you will have the ones who cop an attitude, throw a tantrum, or just flat out refuse to do what they're told. Then you have the ones with actual behavioral or developmental problems that inevitably get put in the class because their parents refuse to send them to a school better suited to their needs. Oh yeah, that's another thing. You may be able to handle the kids, but the REAL headache comes from dealing with the PARENTS. These are the ones who cannot possibly conceive of little Johnny EVERY doing anything wrong, and it must be YOUR fault that he is acting that way. And it just gets worse because schools aren't allowed to use any sort of discipline other than some form of "time-out", be it detention, a trip to the office, or whatever.
It gets even worse at the high school level. I went to a small, private school and even there, we had students who simply refused to put any effort into a given class, and who seemed to have nothing better to do than make everyone else's life as difficult as possible. The problem students get worse as they get older, because they lose their fear of authority. A student who is physically bigger and/or stronger than the teacher has no incentive to follow instruction if they don't want to. Even if they aren't there is no way to FORCE a student to do their work without getting the afformentioned parents threatening to sue your underpaid ass. And chances are, if they don't want to work, the threat of failing will mean precisely nothing to them.
That's not to say that ALL students are bad. The majority are easy enough to handle, but it's always the problem ones that give you the most grief at any grade level. And then there are also students who try hard enough, but always need a little bit of extra assistance in order to keep them from falling behind. Dealing with students who fall outside of the "norm" is very taxing for a teacher. The bottom line is teaching is NOT an easy profession, and even the most well meaning class will eat you alive if you don't know how to handle them.
"So after all this, you make my case for me. To end this stalemate, you must die..."
I've spent a fair amount of time thinking about this (although admittedly most of it was spent in the company of other drunken academics.)
It seems to me that for a well educated, technically skilled, first world people, there are basically three optimal strategies one can choose in finding work:
1 - Find a job that you love, so that working itself makes you happy, where happiness may include the feeling that you've accomplished something worthwhile, even if the day to day work isn't pleasant. (eg. the physicist or aid worker options)
2 - Find a job that requires minimum effort and time and allows you to spend most of your time doing things that make you happy. (the writer who's also a security guard option)
3 - Find a job that sucks but allows you to make a lot of money, then retire early and spend the rest of your life doing things that make you happy. (the investment banker turned surfer option.)
I'd argue that one is best served by pursuing any of these three strategies with intensity. Compromises are sure to sink you: taking a job that you only mostly hate in order to make enough money to retire a few years earlier buys you nothing; finding a job that requires just enough effort to leave you feeling tired at the end of the day but doesn't either give you enough money to retire early or a feeling of satisfaction puts you in the same miserable boat as most other American white collar workers.
To that end, if you choose to run with option #3, you're better off stacking on as many jobs as you can handle without physical breakdown. The off hours you sacrifice will be low quality anyway.
The downside, of course, is that option #3 involves banking your healthiest, most active years on the promise of free time in the future. If your idea of a good time involves seeing a lot of theater and learning how to paint, and if you aren't obviously a candidate for early health problems, and if you believe the economy will continue to value the medium in which you've banked your savings, then it may well be a safe bet. On the other hand, if your idea of a good time involved climbing mountains, going to protests, and fucking, you might be better off choosing an alternative strategy.
My own policy has been to go after #1. So far, I've no complaints. But, it sure helps that what I happen to enjoy also pays enough to live on.