Reply to: Could you take a year off?

[TheFaQQer]

You should have done..... Then you would have made enough to take those 12 months off..

If I could guarantee I could make that much money for absolutely no work every couple of months, there's no way I'd be working in IT any more!

[northernladyuk]

I used to be able to work 6 months take 6 months off. However Mrs Eek hated her job so I now need to work 8 months to do the same.

She loves her new job.

[eek]

I used to be able to work 6 months take 6 months off. However Mrs Eek hated her job so I now need to work 8 months to do the same.

Mind you it used to be possible to work 6 months and take 12 months off but that was 15 years ago when rates weren't much different to today.

[NorthWestPerm2Contr]

So if we can persuade all contractors to take a year off at the same time, rates would either rocket, or they'd discover that they don't need us after all.

Really can't see that happening...... Supply and Demand.

[mudskipper]

So if we can persuade all contractors to take a year off at the same time, rates would either rocket, or they'd discover that they don't need us after all.

[NorthWestPerm2Contr]

Worked solidly for last 3 years with current gig about to come to an end shortly. Mentally preparing myself for 3 months off to rest and re-certify. Got a decent warchest which can last 12-18 months but I know I'll be flapping if I don't get another contract by Xmas. The fear, the fear!

You will be back working within 3 weeks not 3 months. When you have not been looking for a while the doubt creeps in.... But nothing to worry about.

[eek]

Do I need to explain everything?

No partner means controlled expenditure!

Controlled expenditure means ability to forwards plan!

Ability to forward plan means I know I only need to bill for 8 months in every 12!

Billing for the last 15 months + carry over warchest from previous years means I could afford to take 12 months off!

That and I have never bought an old church

You should have done..... Then you would have made enough to take those 12 months off..

[hyperD]

So, in two years, you saved enough to live off for another year?

Yes, I was on my own and didn't take any hols (until the end of two years, 3 weeks Mallorca but staying at friends/reduced rate place).

Now GF#1 is on the scene the finances have lightened slightly but then I don't buy much gizmos nor fly planes anymore.

On my rate/fixed price work I can pretty much work one year/save for one year but I'm getting older now, more disenfranchised with IT but still got a bitch of a mortgage to pay off which is the thing that keeps me working 24/7.

My goal is to have 2 years warchest, mortgage paid off and engage plan B and take lots of time off just chilling and travelling the world.

[BillHicksRIP]

Worked solidly for last 3 years with current gig about to come to an end shortly. Mentally preparing myself for 3 months off to rest and re-certify. Got a decent warchest which can last 12-18 months but I know I'll be flapping if I don't get another contract by Xmas. The fear, the fear!

[SimonMac]

That's the important bit - carry over warchest having billed for fifteen months. The original question was "if you worked solidly for twelve months, could you then afford to take the following year off?", not "if you worked solidly for fifteen months, could you then afford to take the following year off?"

So, I presume that the answer to the original question should have been "no", if you need fifteen months to do it, on the basic premise that fifteen months is longer than a year.

Well yes I could, because I would cut the cloth to suit, if I cut down to the very basics I could probably get away with working for 4 months and I would have every thing covered for the next 12 months, but I wouldn't be able to enjoy it freely, if I work for 8 months I know I could enjoy the 12 months comfortably, with the last contract and the warchest carried over I don't have to tailor any of my outgoings while I enjoy the time off I am planning to take, its not gonna be 12 months as I would get very board come September once the the youngest starts school, but come September I can afford to be choosy when looking for a contract that interests me.

[Bunk]

My current outgoings are such that I can scrape by for the year working 3 months out of 12, live comfortably on 6 months income, save a bit on 9 months and save more on 12 months.

Although, if I was going to work for 3 months and then not for the next 9, I'd need to know that at the time to avoid overspending so in reality 6 months is a safer minimum. This isn't taking the existing warchest into account.

So in answer to the original question, yes I could take a year off after working for a year. Basically, I can take an amount of time off equal to the previous contract length.

[NorthWestPerm2Contr]

Combination, I guess.
Wifety works in a reasonable permie job (MI Manager) and 6 months at current rate (which is pretty decent) would be sufficient to see me through the following 6 months, perhaps up to 9 months. That said, though, just about to move and take on a notably higher mortgage, the Jag has started to cost me a few quid and wifety wants to change her A1 for a Q3, so I think invoicing needs to continue

It's always the problem us humans. Always want bigger and better which means working harder and harder. Imagine how happy we would all be if we were content for a change......

[kevpuk]

Is that because the rate is high, the outgoings low, partner works, any / all of those?

The only way I can really see being able to live off six months work would be to cut back a lot on the luxuries and the expensive holidays, so I'm interested to see how other people manage to do it.

Combination, I guess.
Wifety works in a reasonable permie job (MI Manager) and 6 months at current rate (which is pretty decent) would be sufficient to see me through the following 6 months, perhaps up to 9 months. That said, though, just about to move and take on a notably higher mortgage, the Jag has started to cost me a few quid and wifety wants to change her A1 for a Q3, so I think invoicing needs to continue

[TheFaQQer]

There's one for sale in Port Talbot if yer interested.

Comes complete with fully stocked graveyard.

Link?

And the usual fallout from the steelworks.

I was interested up until that point.

[TheFaQQer]

Billing for the last 15 months + carry over warchest from previous years means I could afford to take 12 months off!

That's the important bit - carry over warchest having billed for fifteen months. The original question was "if you worked solidly for twelve months, could you then afford to take the following year off?", not "if you worked solidly for fifteen months, could you then afford to take the following year off?"

So, I presume that the answer to the original question should have been "no", if you need fifteen months to do it, on the basic premise that fifteen months is longer than a year.