Large lifestyle changes

[bones72]

Anyone ever contemplate chucking all the responsibility (and authority) and accept a much lower income? Without regard to "happiness" that is.

[humandraydel]

I contemplate it all the time And actually, I plan to do that. I call it "retiring early" (around age 40) but really it will just be slowing down a little bit.

[disneysteve]

I have thought about how cheaply I could be living if I were single and childless.

I haven't really thought about slashing the lifestyle to live on far less and take a lower paying job. I'm not sure that would appeal to me. I enjoy my lifestyle as is. If anything, I would slash certain expenses to boost spending in other areas, but I don't think I'd chuck the job and slash the paycheck.

[GREENBACK]

Anyone ever contemplate chucking all the responsibility (and authority) and accept a much lower income? Without regard to "happiness" that is.

Careful with this plan. Inflation and the other needs of life can put a major kink in this one. I'm planning to retire a bit early but I will exceed my current income when I do.

[ecoadapt]

Careful with this plan. Inflation and the other needs of life can put a major kink in this one. I'm planning to retire a bit early but I will exceed my current income when I do.

This is a good thought to consider. Although, we can't deny the fact that it would be nice retiring early but then there are other factors to consider.

[ninasen]

Actually, many of my friends are doing this. They receive a less payed job, but begin to have more time to do more meaningful things they think, such as they can accomapny their family and spend more time with their children. But before doing this, they have already planned to live a simple life.

[phantom]

I can only think of one lower paying job that I'd enjoy more than my current job as a computer programmer, the life guarding job I had in high school and college. It's hard to beat getting paid to sit pool side, watching people and listening to books on tape. But, even then, I frequently had my lap top and ended up programming on days when no one came to the pool. So, why not just get paid a programmer's salary and program more, especially when it means I don't have to vacuum a pool every morning or worry about saving people?

I will admit that it has occurred to me that I could get paid a bit more if I pursued a management position, and I've avoided moving that way because I really enjoy coding and wouldn't be as happy delegating. So, I guess you could say that I just skipped the whole power and authority thing in favor of a lower paying job. But, it's not like I don't make pretty good money as it is and won't keep making more as I get better at what I do.

[kv968]

I have thought about how cheaply I could be living if I were single and childless.

Childless I could see living more cheaply but not necessarily by being single. I know everyone's situation is different, but I'm single and who I do get to split the bills with? NO ONE!

That's one misnomer that I find myself having to correct with some of my friends. Some assume, since I'm single, that I don't have a care in the world. And with the way some of them talk it seems as if they have come to the conclusion that I practically don't have any bills since they think I should be just awash in money.

Their usual logic is along the lines of, "Well with two people the bills are higher", which may be true, however with that there's usually TWO people helping to pay them.

As I said though, KIDS are a completely different story

[disneysteve]

Childless I could see living more cheaply but not necessarily by being single. I know everyone's situation is different, but I'm single and who I do get to split the bills with? NO ONE!

Their usual logic is along the lines of, "Well with two people the bills are higher", which may be true, however with that there's usually TWO people helping to pay them.

That's true if both partners are earning substantial incomes. Personally, that isn't the case. My wife does work but it is part-time only, and we put 50% of her income into her 401k. She only brings home a few hundred dollars per month. I love her dearly but she doesn't earn her keep . I could definitely live cheaper on my own (not that I want to but financially it is true).

[snafu]

I was 'encouraged' to relinquish employment by employer after 2 serious illnesses. While I was upset at the time, it was a terrific decision. By the time I used up accrued vacation time I was bored and created my own business [I needed control over hours]. The unexpected outcome was higher earnings. Best, I choose which contracts to take and which to reject. We were/are ok financially so DH changed from full time to part-time employment.

[our medical benefits are not substantially affected]

I see friends and former colleagues lives revolve around work without balance for family, friends and whatever gives them joy. I think you need to have a plan for time and expenses before making any critical, life changing decisions.

[MonkeyMama]

Childless I could see living more cheaply but not necessarily by being single. I know everyone's situation is different, but I'm single and who I do get to split the bills with? NO ONE!

As a married person (even with a spouse who hasn't worked 10 years) I totally agree with you. I find life financially *much easier* with a partner. I sometimes cringe when my single friends make similar or more aggressive financial choices. Like, I would have never taken on the mortgage we have if I was the only one who was ever going to pay it. Pooling our resources we have a much nicer lifestyle, and much more in savings, than we would separately. Likewise, disability and unemployment isn't as devastating. We've been through most of that with a shrug - the other one just picks up the slack. Of course, we have made a point to never live up to second income.

[LivingAlmostLarge]

I disagree about singles. You can rent a room in a house or apartment unlike a couple. Most people charge more if you share a room because of common room area. My DH's best friend is still single at 35 and lives with roommates. I asked if he ever wanted to be alone? Nope financially it makes sense. But if he had a steady girlfriend maybe. He saves a ton shacking up with other people. Which by the way they get younger and he gets older. I wonder when it starts getting too weird though? 40? 45?

[kv968]

I disagree about singles. You can rent a room in a house or apartment unlike a couple. Most people charge more if you share a room because of common room area. My DH's best friend is still single at 35 and lives with roommates. I asked if he ever wanted to be alone? Nope financially it makes sense. But if he had a steady girlfriend maybe. He saves a ton shacking up with other people. Which by the way they get younger and he gets older. I wonder when it starts getting too weird though? 40? 45?

Like I said, everyone's situation is different and I'm sure I could save some money by renting a room and having roomates. However it comes down to quality of life too and with me being a tad over 40, I'm not at the point in my life where I would want to share a house with a bunch of other people. As you said, I think it would get a little "weird" after awhile. Heck, I could move back in my parents and save a ton of money but that ain't happening.

Granted, if I really wanted to or needed to save the money those could be options but just to save a couple of bucks, they aren't.

[disneysteve]

Like I said, everyone's situation is different and I'm sure I could save some money by renting a room and having roomates. However it comes down to quality of life too and with me being a tad over 40, I'm not at the point in my life where I would want to share a house with a bunch of other people.

Me neither. If I were single, I'd still want my own place. If my family never came to be, even living in the exact same house I have now, my expenses would be far less. Only one car to purchase, insure, gas up and maintain. Only one body to cover with health insurance and life insurance. Only one person to cover medical and dental expenses. Only one mouth to feed, one body to clothe. Lower utility bills. Lower travel expenses. Only one ticket to see a movie or show. I don't see how being married can possibly be less costly than being single. That whole "two can live as cheaply as one" saying is nonsense.

[kv968]

Me neither. If I were single, I'd still want my own place. If my family never came to be, even living in the exact same house I have now, my expenses would be far less. Only one car to purchase, insure, gas up and maintain. Only one body to cover with health insurance and life insurance. Only one person to cover medical and dental expenses. Only one mouth to feed, one body to clothe. Lower utility bills. Lower travel expenses. Only one ticket to see a movie or show. I don't see how being married can possibly be less costly than being single. That whole "two can live as cheaply as one" saying is nonsense.

Yeah Steve your expenses may be less but that's because:

I love her dearly but she doesn't earn her keep .

Don't let MRS. DisneySteve see that