Live to work or work to live?

[MattZani]

To me, one of the most appealing things about contracting has always been the freedom and possibility to take breaks in between contracts.

We usually make more money than our permie counterparts, which often makes it possible to work less, do something else during our time off such as enjoying time with family and friends, cultivating hobbies, and so on.

With a decent warchest, manageable mortgage and not a crazy expensive lifestyle, it is very well possible to "only" needing to work 6 months a year.

Is any of you guys doing this? Or do you find that most contractors are greedy and want to bill 300 days a year even if they don't really need to because who knows...maybe they have a 2-3 year warchest or whatever?

[pauldee]

This was always the plan, and I personally could work it out like that, but unfortunately my partner does not have such flexible work, so it's not really worked out like that.

[chicane]

Is any of you guys doing this? Or do you find that most contractors are greedy and want to bill 300 days a year even if they don't really need to because who knows...maybe they have a 2-3 year warchest or whatever?

I'm not sure that it's about being greedy. Does your idea of working 6 months a year take into account the need to plan for retirement? I've recently hit 40 and it's been something of a wake up call in terms of needing to think about my later years!

Meeting your short-term financial obligations is only half the story unfortunately, especially now that people currently in their 30s and 40s can reasonably expect to live well into their 80s or 90s.

[VillageContractor]

I work to live but would never take 6 months off. Would prefer to bill and retire early or buy property for my kids.

[MattZani]

I work to live but would never take 6 months off. Would prefer to bill and retire early

Yeah here we get to the big "problem": if you work like a dog so you can retire early yeah you're going to have money and time when you're old but no energy/will to do cool stuff (just a silly example...go to surf in mexico or hike here, bike there kind of stuff). On the other hand you can do these things when you're young and have enough money/time (because you're a contractor) but then you'll have to work later on...

Tough choice

[VillageContractor]

Yeah here we get to the big "problem": if you work like a dog so you can retire early yeah you're going to have money and time when you're old but no energy/will to do cool stuff (just a silly example...go to surf in mexico or hike here, bike there kind of stuff). On the other hand you can do these things when you're young and have enough money/time (because you're a contractor) but then you'll have to work later on...

Tough choice

Agreed. We do as much as we can now while at the same time planning for the future

[mattfx]

For me it's a mix. There are times I don't feel like working / have some personal things I want to work on. There are other times I want to get stuck in, roll my sleeves up and get tulip done.

[l35kee]

I'm on track to take home double of what i earned as a permie this year, so 6 months off would have been equivalent...

Id rather work more now and put more money towards my future than take a random 6 months off. Two kids both will be in school full time by Sept too, so really that would mostly be a waste anyway..

[MattZani]

Two kids

I think this is when you stop having the choice.

When you have kids then you're done

[doconline]

To me, one of the most appealing things about contracting has always been the freedom and possibility to take breaks in between contracts.

We usually make more money than our permie counterparts, which often makes it possible to work less, do something else during our time off such as enjoying time with family and friends, cultivating hobbies, and so on.

With a decent warchest, manageable mortgage and not a crazy expensive lifestyle, it is very well possible to "only" needing to work 6 months a year.

Is any of you guys doing this? Or do you find that most contractors are greedy and want to bill 300 days a year even if they don't really need to because who knows...maybe they have a 2-3 year warchest or whatever?

Definitely work to live, I've got to the stage now where I could happily do that, but I've worked it a bit differently. I have negotiated my contract down to 4 days a week, with 1-2 from home. The way I see it is 2 days a week is to fund our current lifestyle / investments and 2 days a week is for my pension / warchest etc. I've got a fairly simple lifestyle though, we don't have kids, have a small car / mortgage and my wife has a well paid 'proper' job, 4 days a week too, earning enough to fund us anyway if I wasn't contracting.