How long is a long time to be on the bench?

[ChimpMaster]

I can kind of see what Robin means as I started working full time as I had bills to pay like most people, over the years it has been more of a drag mon to fri working and I long for an escape from it.

Due to this my plan for quite a while now is to bear with it get the finances up to get in a situation where I can take a lot more time off and still work but more in a way of dipping into work when I want to or need to and not necessarily in IT but just general work through maybe friends/family that comes up.

I think your right some people need to be working and have a job even if not for the money and some people don't always.

I feel like this a lot of the time. I've been in IT working for some 16 years or so, half of that contracting, and long for the peace and freedom that I once had in my younger years. I doubt I'll ever get that again, but it doesn't stop me dreaming, and won't stop me trying.

My entire contracting business has been forged on a single premise: to build up my finances so that I can do what I want at a younger age, some might say 'part-retire' or 'choose to work' rather than 'have to work'. The frustrating thing is that I am quite far into my plan, but I need another 5 years worth of contracting and I can't see that happening. I might have to settle for a half way house whereby I have enough financial freedom for most of things in life and a job for everything else.

How I will feel without work is another matter altogether; I am very much work-centric and reward-centric, it's just who I am. I'll either need to adjust and grow out of that, or continue to let it drive me - especially seeing as I have possibly 20 years to work yet.

[BolshieBastard]

I feel like this a lot of the time. I've been in IT working for some 16 years or so, half of that contracting, and long for the peace and freedom that I once had in my younger years. I doubt I'll ever get that again, but it doesn't stop me dreaming, and won't stop me trying.

My entire contracting business has been forged on a single premise: to build up my finances so that I can do what I want at a younger age, some might say 'part-retire' or 'choose to work' rather than 'have to work'. The frustrating thing is that I am quite far into my plan, but I need another 5 years worth of contracting and I can't see that happening. I might have to settle for a half way house whereby I have enough financial freedom for most of things in life and a job for everything else.

How I will feel without work is another matter altogether; I am very much work-centric and reward-centric, it's just who I am. I'll either need to adjust and grow out of that, or continue to let it drive me - especially seeing as I have possibly 20 years to work yet.

About 4 weeks into my first contract back in 97, the agency took us out for a slap up meal and drinks (those were the days!). She introduced me to the other contractors including one bod who only worked for about 3 or 4 months a year, the rest of the time he was 'semi' retired (more like 3/4's retired imo). He said it was a lifestyle that suited him.

I thought, I'll have some of that. The reality is different. Despite maintaining an in contract average of over 40 weeks in any 52 except for a period when I decided to get out of contracting, the market has been such that if you are out for more than 3 months, you have to provide 'proof' that you havent spent time at HM's pleasure!

[Lewis]

About 4 weeks into my first contract back in 97, the agency took us out for a slap up meal and drinks (those were the days!). She introduced me to the other contractors including one bod who only worked for about 3 or 4 months a year, the rest of the time he was 'semi' retired (more like 3/4's retired imo). He said it was a lifestyle that suited him.

I thought, I'll have some of that. The reality is different. Despite maintaining an in contract average of over 40 weeks in any 52 except for a period when I decided to get out of contracting, the market has been such that if you are out for more than 3 months, you have to provide 'proof' that you havent spent time at HM's pleasure!

In 15 years, never taken more than about 6 weeks max to get a contract. Taken 3m to 6m off just for fun (new babies etc.). But I would never have a warchest lower that *at least* 1 year, it might not be a lack of jobs it might be illness or injury.

[yasockie]

As a good rule of thumb, you need to work out the rate you're getting vs the average number of days you work in a year, given the inevitable gaps.
I, for example usually work around 200 days a year, which is less than average, I think and income-wise, brings me dangerously close to what I could get as a permie. The upside though is I have almost half a year to myself and family.

[kingcook]

I, for example usually work around 200 days a year, which is less than average, I think and income-wise, brings me dangerously close to what I could get as a permie. The upside though is I have almost half a year to myself and family.

Is that a 5 or 7 day week?

For me, there are around 240 working days per year. So it all depends what your day rate is from your current/previous contract is/was, and how much of it you put into the warchest.

(5 days per week * 52 weeks) - 8 days bank holidays - 3 days between xmas to new year - a few more days either side of xmas and new year.

Holidays (IMO) are best spent between contracts while on the bench (queencook doesn't usually get much warning that we're about to fly off for some sunshine!)

[Normie]

I've been contracting now for 11 years. I have never had a gap between contracts. To be honest, I would love a couple of months off (and can well afford it), but my problem is that all of the contracts I get are largely down to my high level of security clearance - I wouldn't want to risk losing it, so I move from one security cleared role to another (often within the same client). The sickener is that I really don't even need to work - my wifes salary more than covers our monthly outgoings (no mortgage). Haven't got the bottle to get off the gravy train - too scared I wont be able to get back on it.

[pootle]

Nosy Parkers when on the bench

Been out now since beginning April; quite enjoying the free time. On the second day after the split went to post a letter and was asked by a nosy elderly neighbor why i wasn't at work - told her (and most other people) that i was working from home; seems to pacify the poor dears. Had Mother in law on phone the other day (phone mistakenly picked up) telling me that she knows how hard it is to find work - and she has a minimum wage job. Irony is 1 month of my working = 1 year of hers

[lukemg]

'fraid I am the same as some on here, bored after a few weeks and feel the pressure to get back in work even though got a tidy stash.
Think I need more hobbies that dont rely on other people - love golf but all your mates are at work, need a regular benched contractor golf meet - NW anyone ?
Toying with helping out at a local charity doing a bit of driving and collecting when I am next benched but just an idea at the moment. Need a low maintenance job that I can drop back into (pay virtually irrelevant) like driving (not cabs) but they are prob in high demand from people with no other skills.
Made me rethink retirement options - really need to plan for this carefully.

[louie]

I would say more than 6 months is a long time. My long term aim is to reduce my outgoings to the point where my passive income covers it. Then it's a matter of taking a contract to top up the savings. I reckon in 2-3 years I will be there then I plan on working maybe 6 months a year and slowly reduce it over time.

There is no way I would get bored not working, I always have projects running I could work on. There are a million things to do, sitting in an office full of enslaved and depressed permies is not something I need in my life.

[stek]

Made me rethink retirement options - really need to plan for this carefully.

Exactly what I've been thinking - I'm gonna be bored rigid if I have to retire - I don't mind working till I drop, I like what I do but I do feel I want to try something else - Plan B is in progress...