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Post by Deleted on May 17, 2012 23:49:30 GMT -5
Unless you hate your job I wouldn't quit. I'd request an early shift so you are home by 3. I'd hire a housekeeper that does laundry. Less drastic than quitting. Of course I hate cleaning/cooking/housekeeping with a passion, so that influences my approach.
MidLife crisis? Since when does that involve staying home with kids?! Actually teenagers require more watching than toddlers, so I'd actually alter my job/career/aspirations to have more time during the teen years.
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qofcc
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Post by qofcc on May 18, 2012 5:37:43 GMT -5
What is a fair hourly rate for this type of work? I would probably do a more project oriented deal - a day of financial analysis will cover your month or quarterly results - how much is that worth to a small business?
When I did this 10 years ago, I charged around $20-25/hr. At the time I was making low 50's at the Management Analyst job I was laid off from and I wasn't actually trying to start a business and I had no overhead and a mutual friend mentioned that this guy needed help and I had time and needed money so I did it.
If I was to do it as a business, I think $50/hr would be a reasonable rate for my area and I'd want to have business liability insurance (not sure how much it would be for this job but it was $1,200/yr when DH needed it for a job that could potentially blow up people's houses, so probably not too much) and I'd want a website, business cards, separate phone line, advertise in the pennysaver, etc. I think you could charge about as much per hour as an accountant would charge them to do their tax prep. If it involved a lot of data entry or something I was thinking I could offer to charge a lower rate for that or give them the option to outsource that part to a temp.
How much vacation time do you have and will they allow you to take unpaid time off if you run out of paid time? There may be a corporate policy against "working part time", but I wonder how long you could get away with working 20-30 hours and taking vacation time.
When are your kids out of school for the summer and what would you be doing with them if you are still working?
The reality is, I'm not sure how long my full-time employment with this particular employer is going to last. They are closing regional offices and have asked me to relocate.
But, my job really doesn't belong here long-term, even if they leave this office open. So, I worry about my long-term prospects.
Sounds like you may have some room to negotiate on this one and since you can afford to loose this job, then you can play hardball. You could offer to stay until the bitter end and help them make a smooth transition in the shut down in exchange for a flexible work time you define. You're probably in a position to put together a cost savings proposal for them. Show them how to eliminate the need for your job or break the travel portion out and assign it to someone else leaving a small chunk to be done locally. Or keep just the 30-40% travel time, do all the work when you're on the road and not go into the office when you're home. Any chance of them letting you come back as a consultant?
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resolution
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Post by resolution on May 18, 2012 9:37:11 GMT -5
Have you looked for ideas in the wahm forums? www.wahm.com/forum/ As always, you would need to use due diligence.
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skubikky
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Post by skubikky on May 18, 2012 10:15:57 GMT -5
I know that I'm a PIA on these things. But, I just don't seem to have the variety of interests that other people do. I go to work, I love the process of business, and I cook, and I watch TV. Kiddo...you need to be really honest in determining whether this is really the right thing to do for you and your family. And that's what I meant about an emotional vs logical decision. A knee jerk reaction to something that might be resolved with a less dramatic change. Being home can be very isolating and a bore if you don't have something to engage you. Cleaning the house, food shopping and cooking are probably not going to fulfill someone who is wired as you are. Being there for the kids and not having time constraints is most what you are seeking relief in. How about searching for a job that can be done from home? CSR type thing that can be set up at home or something along those lines?
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Post by Deleted on May 18, 2012 10:19:14 GMT -5
I know that I'm a PIA on these things. But, I just don't seem to have the variety of interests that other people do. I go to work, I love the process of business, and I cook, and I watch TV. Kiddo...you need to be really honest in determining whether this is really the right thing to do for you and your family. And that's what I meant about an emotional vs logical decision. A knee jerk reaction to something that might be resolved with a less dramatic change. Being home can be very isolating and a bore if you don't have something to engage you. Cleaning the house, food shopping and cooking are probably not going to fulfill someone who is wired as you are. Being there for the kids and not having time constraints is most what you are seeking relief in. How about searching for a job that can be done from home? CSR type thing that can be set up at home or something along those lines? you actually have a lot of good options if you're okay with doing a job different from the one you do now.
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thyme4change
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Post by thyme4change on May 18, 2012 10:48:48 GMT -5
Last night I went home and talked to my husband about this. He was actually quite excited. We made a long-term preliminary plan.
First - I actually have access to 2 CPAs. I'm going to talk with them and see if they know anyone else who is doing this, and see if they have a feeling about if the market needs this, or any other suggestions.
Second - We know a guy who is just smart. He is a lawyer and runs his own practice, BUT, his main clientel are people who run businesses that are less than $50M in revenue. So, he is really hooked into the market here in town. He would talk to anyone, anytime about this type of stuff. He is just a really great guy. I'm going to go pick his brain.
I'm also going to talk to my friend who runs a consulting business for marketing and see what she thinks. She will give me the emotional/friend side not the business side.
After that, we should have a better idea on if this is viable at all. I figure that kind of fact-finding will take the summer. At that point, we should know what is going on with my husband's job, and we can have a better family plan.
We thought of 3 people we know that I could reach out to and offer a deal. One of them will take it, because he would take any bargain. One will take it because he trusts me, and the other is a big black hole. I can offer them a bargain in exchange for a recommendation and a copy of the manipulated work product for a portfolio.
I will also spend a good portion of this weekend running numbers. I won't need to replace my entire income, but if I can get just a few clients, it would keep me from going crazy, and bring in enough to cover savings or vacations or whatever. I would feel successful if I could get half my current income within 5 years.
Until we find out what is going on with hubby, I will stay here, and apply for interesting jobs in my field. This might be something I do in 2 years, or 2 months. Who knows.
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thyme4change
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Post by thyme4change on May 18, 2012 10:50:41 GMT -5
I really want to thank everyone. You helped a lot.
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swamp
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Post by swamp on May 18, 2012 10:53:44 GMT -5
I hope everything works out for you.
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Deleted
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Post by Deleted on May 18, 2012 10:59:44 GMT -5
me too. Live is too short to be miserable.
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thyme4change
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Post by thyme4change on May 18, 2012 11:03:21 GMT -5
We were laughing this morning at how things always work out. So, who knows - maybe I will find another job and think it is the greatest thing ever. Maybe they will restructure my job and I will start reporting to someone different who changes my entire attitude. Maybe one of the part-time leads I was running down will come forth. Maybe the consulting thing will be a worthwhile business. No matter what, a year from now I'll say "Gee, aren't I lucky that {{thing}} happened, and that led me here."
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Deleted
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Post by Deleted on May 18, 2012 15:32:49 GMT -5
I hope you guys find something that works for you. I don't know what your skill set is, precisely, but have you looked at local appraisal companies? It seems like something you would be good at and flexible for working from home or being project based. We paid 40k to have a partnership and it's holdings evaluated.
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Post by maryjane on May 19, 2012 2:35:19 GMT -5
Thyme,
Tapping all of experts/brains in your community is brilliant. I bet all sorts of doors open up for you!
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Deleted
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Post by Deleted on May 19, 2012 19:10:52 GMT -5
It sounds like you have come up with a great plan Thyme!
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Deleted
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Post by Deleted on May 20, 2012 15:32:16 GMT -5
Message deleted by debthaven2.
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Peace Of Mind
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Post by Peace Of Mind on May 20, 2012 15:34:53 GMT -5
LOL!
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Deleted
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Post by Deleted on May 20, 2012 16:17:42 GMT -5
a
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Deleted
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Post by Deleted on May 20, 2012 18:16:20 GMT -5
a
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thyme4change
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Post by thyme4change on Jun 14, 2012 11:38:50 GMT -5
*********Update******
Well - not a full fledged update, but just to let everyone know I'm still working on this.
My husband will know more about the future of his job in August or September, so I'm going to sit tight for the summer. However, I went and talked to a couple of people about this:
1) I talked to my friend that does freelance marketing. She said that customer will show up, but didn't offer to connect me to her clients. A bunch of her clients are connected in a loose organization, and they all use the same service, which does this type of work for them already. Although she did say that she knew of another company that could benefit and she would make the introduction - but didn't make it sound too promising.
2) I talked to a random person I know - well connected, smart as hell type. And he said "I know 800 companies that need you. You will make a fortune. Let me know when you are ready and I'll get you going." So, that was pretty encouraging.
I'm too chicken (at this time) to call the handful of people that would be perspective clients. I don't want to get them signed up until I'm sure I have the time to dedicate to them. Doing a crappy job before I'm ready would be the worst possible start to this business. I am, however, doing some stuff for one guy. I'm doing it for free, but it would be a useful reference.
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thyme4change
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Post by thyme4change on Jun 14, 2012 11:44:04 GMT -5
I also thought of 2 more people that might be potential leads. =)
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8 Bit WWBG
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Post by 8 Bit WWBG on Jun 14, 2012 12:10:11 GMT -5
...:::"Right now, I'm unhealthy, my kids never see me, I have no energy at night to do anything meaningful with either my kids or my husband, and I spend all weekend doing chores to catch up.":::...
And in exchange for that, you have ample money and don't have to budget. You have a new car. You are taking a vacation.
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thyme4change
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Post by thyme4change on Jun 14, 2012 14:53:41 GMT -5
My husband's car is over a year old, and my car is 9 years old. But we did take a very nice vacation.
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8 Bit WWBG
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Post by 8 Bit WWBG on Jun 14, 2012 16:13:30 GMT -5
I neglected to elaborate on my post earlier. You mentioned in your OP that you loved having the extra money (and who wouldn't). Indeed, extra money does come at a cost.
DW every now and then has ideas about being a SAHW (no kids, so really it would be me supporting her). Fortunately she doesn't seem to be serious about it, but for my own safety I always assume that its something she actually does want. I don't actively dispute it since there is no point in fighting over a non-issue. However, if she ever WAS serious, my stance has always been clear:
"You can be a SAHW, so long as you are 100% accepting of the changes that losing your income would bring".
We probably could make do on just my salary, and once CCs are gone we definitely could. But there would certainly not be much in the way of advancement. No home renovations. No vacations. No weekend trips...
I haven't had to bring up the "and if you are staying at home while I work, you are doing 95% of the chores" point because the lifestyle downgrade is scary enough.
A part of me figures that with both of us working, if we are very smart with our money, we'll be able to retire sooner and set up passive income. I'd rather work hard and get there in my 50s than work slow, but not be able to retire until 70. As it is, I am not eligible for full Federal benefits until about age 62.
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Deleted
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Post by Deleted on Jun 14, 2012 21:06:55 GMT -5
perspective Thyme, please don't hate on me, but you mean prospective. I would just hate for you to send an email to a potential contact or client with the wrong spelling. Prospective = potential, perspective = how one sees things. I'm so glad you are following through with this! It sounds like you have had some fabulous feedback! It may take a bit longer than you'd like, but it will happen!
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sunbee
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Post by sunbee on Jun 14, 2012 23:24:26 GMT -5
Thyme, I'm not sure exactly what you do, sounds like book keeping, maybe, or similar, but I'm a home schooling parent. Lots of times, we like to contract out to get people to teach our kids. How would you feel about teaching two or three interested pre-teens or teens about business? Or personal finances? I'd sign my oldest (boy, almost ten) up for either in a heart-beat. If there's a Co-Op in your area they could help you determine if there's interest and set up a class.
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Deleted
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Post by Deleted on Jun 15, 2012 9:31:30 GMT -5
Good luck! I'm glad the pictures looking good for you.
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thyme4change
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Post by thyme4change on Jul 19, 2012 23:40:37 GMT -5
So, I've been combing through the budget. I am not exactly sure where the last of the money is coming from, but between reduction in taxes and reduction in savings (same %, fewer dollars) and the fact that we paid off our HELOC, I'm about 70% of the way there. If we reduce our income in half, our taxes drop by 75%. {{Enter Political Statement Here}}
I'm sure I can nickel and dime my way to the finish line, I just haven't gone through that pain yet. And, of course, if I can bring back 50% of my income via freelance, then we would be there.
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zibazinski
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Post by zibazinski on Jul 20, 2012 15:31:05 GMT -5
It isn't clear to me why your husband can't do some of the grunt work you are talking about that sucks away your weekends? I was lucky enough time wise to be a teacher so even though income wise it was awful, time was it was not. I could actually grocery shop after school got out and be home before DD when she got to middle school. When she was in elem, she was in my school so she went to store with me. Laundry was off the kitchen so I did laundry while she got a snack and did her homework. I folded clothes right on the kitchen table. I also did a lot of already prepared meals like a pre cooked chicken. Very easy meals during the week like tacos. Nothing more than a half hour to prepare and eat. There are after school programs which is probably what your children are in now. They give them a snack and make sure their homework is done. I don't see that doing laundry keeps you from interacting with your children. House cleaning? Well, I don't know why your husband can't either do it or help do it or, for that matter, even your kids can help you. 7 is old enough to dust and take out garbage, 10 can certainly vacuum, put dishes away from dishwasher. The only thing I would never let my young kids do was the bathrooms because of the chemicals. I still hate grocery shopping but I still do it. Plan your meals in advance, make them simple and shop fast.
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thyme4change
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Post by thyme4change on Jul 22, 2012 18:25:05 GMT -5
I'm not overwhelmed by housework - I'm overwhelmed with my kids' needs. They need a parent. They need a mentor. They need help with their homework, and they need a chauffer. And a good portion of those "needs" occur before I'm home from work, especially now that they are going to be done with school 2.5 hours before I am suppose to leave work. My husband's hours are roughly the same. I can leave some of that work to the after school programs, but (1) the snacks aren't very healthy (2) their ability to help with homework and reinforce how important schoolwork is SUX and (3) they can't drive them anywhere, so I still have to leave work an hour early 3 or 4 days per week. My husband isn't the problem. He does plenty, and what neither of us do - we outsource.
I have three options: 1) Cancel all my children's activities so I can work a job I hate and get money we don't 'need' 2) Hire a nanny to drive my kids to their activities and still come home and hate my job and feel totally unfulfilled 3) Rethink my career
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zibazinski
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Post by zibazinski on Jul 22, 2012 18:48:27 GMT -5
Those are interesting choices.
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thyme4change
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Post by thyme4change on Jul 22, 2012 19:02:01 GMT -5
Actually, I guess I have a 4th choice - which is to keep sneaking out early and dealing with the fallout when people notice that I'm not there - 3 times per week.
I was thinking that my job would eliminate my position in about 18 months, but now I'm wondering if it is going to happen earlier. Maybe my company will make things happen for me.
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