Investor insight please.

[huntnful]

Just wanted to update this. I did in fact drop my 401k investment down to 6%, the company match.

Then I upped my personal investments from $1000 to $2000 a month.

THEN, I started thinking “I really mostly just want big game hunting season off.”

Which is mainly September, October, November for me. So I figured I’d give up about $21k to take 3 months off unpaid. I can do that every year, indefinitely, with my current personal account. So I’ll be working on that with my employer in the near future as well if they’re open to it. Just to test it out.

 

[IdahoBeav]

What industry do you work in where you are able to take 3 months off? I have unlimited PTO, but it would be impossible for me to take 3 consecutive weeks off without taking my laptop and working a few scattered hours.

 

[go_deep]

Just wanted to update this. I did in fact drop my 401k investment down to 6%, the company match.

Then I upped my personal investments from $1000 to $2000 a month.

THEN, I started thinking “I really mostly just want big game hunting season off.”

Which is mainly September, October, November for me. So I figured I’d give up about $21k to take 3 months off unpaid. I can do that every year, indefinitely, with my current personal account. So I’ll be working on that with my employer in the near future as well if they’re open to it. Just to test it out.

Ummm, by chance is your employer hiring??

 

[Hydra6]

Just wanted to update this. I did in fact drop my 401k investment down to 6%, the company match.

Then I upped my personal investments from $1000 to $2000 a month.

THEN, I started thinking “I really mostly just want big game hunting season off.”

Which is mainly September, October, November for me. So I figured I’d give up about $21k to take 3 months off unpaid. I can do that every year, indefinitely, with my current personal account. So I’ll be working on that with my employer in the near future as well if they’re open to it. Just to test it out.

If I asked my employer to let me take 3 months of without pay - I would expect that employer find a replacement for me then fire me.

 

[huntnful]

What industry do you work in where you are able to take 3 months off? I have unlimited PTO, but it would be impossible for me to take 3 consecutive weeks off without taking my laptop and working a few scattered hours.

I’m a pipe welder. They just source another welder when I’m gone hunting. I don’t even carry my work phone after hours, or when I’m on vacation lol. I worked 3,000+ hours a year for 10 years thinking I was keeping the world a float. Turn out, it doesn’t really matter, and they just figure it out when you’re gone hahaha.

If I asked my employer to let me take 3 months of without pay - I would expect that employer find a replacement for me then fire me.

I think that’s a normal perspective. I’m not normal, and I’m not afraid to ask and find out. Skilled tradesman aren’t easily replaced. But the income from a company, can be.

 

[Hydra6]

I’m a pipe welder. They just source another welder when I’m gone hunting. I don’t even carry my work phone after hours, or when I’m on vacation lol. I worked 3,000+ hours a year for 10 years thinking I was keeping the world a float. Turn out, it doesn’t really matter, and they just figure it out when you’re gone hahaha.


I think that’s a normal perspective. I’m not normal, and I’m not afraid to ask and find out. Skilled tradesman aren’t easily replaced. But the income from a company, can be.

Agreed - skilled labor is different for sure. I was a project engineer and ran large rebuild and new installs in paper industry and I saw crews that would work their annual schedules around hunting season. I stand corrected!

 

[huntnful]

Agreed - skilled labor is different for sure. I was a project engineer and ran large rebuild and new installs in paper industry and I saw crews that would work their annual schedules around hunting season. I stand corrected!

Exactly. Your job was also very skilled. I think you’re not giving yourself enough credit if you think a business that you’ve engineered countless successful projects for that knows they can rely on you (when you’re there) would just kick you to the curb so easily.

A HUGE expense of business is training employees. Losing trained employees and having to hiring new ones that know nothing, is not a good way for a company to make money.

Ask @mxgsfmdpx about him expecting to be let go, but instead was seen more valuable than that and allowed to work remotely from an entirely different state when he decided to move.

You really don’t know, unless you ask, and make your intentions known

 

[CorbLand]

Exactly. Your job was also very skilled. I think you’re not giving yourself enough credit if you think a business that you’ve engineered countless successful projects for that knows they can rely on you (when you’re there) would just kick you to the curb so easily.

A HUGE expense of business is training employees. Losing trained employees and having to hiring new ones that know nothing, is not a good way for a company to make money.

Ask @mxgsfmdpx about him expecting to be let go, but instead was seen more valuable than that and allowed to work remotely from an entirely different state when he decided to move.

You really don’t know, unless you ask, and make your intentions known

I have always had the mentality of the worst thing that can happen is being told no and it has paid off way more times than it has hurt me.

 

[huntnful]

I have always had the mentality of the worst thing that can happen is being told no and it has paid off way more times than it has hurt me.

Same here man! I’ve been turned down for hunting private land way more than I’ve been turned down for taking time off work hahaha.

 

[CorbLand]

Same here man! I’ve been turned down for hunting private land way more than I’ve been turned down for taking time off work hahaha.

When it comes to work, I think most people are largely motivated by one of two things. Time or money.

Some people want more and more money and some people want more and more time. I am a time guy. I work a job that pays enough to be able to live and for the most part, do the things I want to do. I will always take more money to do what I currently do but I wouldnt take more money if it meant I had to work more and have less time.

If you work at a place that you can negotiate and have met your income need/want threshold. Start negotiating for more PTO instead of raises. If you are a good employee, you would be amazed at what some places will do to retain you. Sometimes as a business recognizing that people can generally replace income, its the other benefits that they cant, is the best thing you can do.

I could make the same amount of money, if not more, doing the exact same job virtually anywhere in the country. What I cant do is this same job, for the same pay, with the same cheap insurance, with the same 9-5, with the same 36 days of PTO a year, and with the same holidays off. So I am here.

 

[huntnful]

When it comes to work, I think most people are largely motivated by one of two things. Time or money.

Some people want more and more money and some people want more and more time. I am a time guy. I work a job that pays enough to be able to live and for the most part, do the things I want to do. I will always take more money to do what I currently do but I wouldnt take more money if it meant I had to work more and have less time.

If you work at a place that you can negotiate and have met your income need/want threshold. Start negotiating for more PTO instead of raises. If you are a good employee, you would be amazed at what some places will do to retain you. Sometimes as a business recognizing that people can generally replace income, its the other benefits that they cant, is the best thing you can do.

Very well said!

I used to just want money and didn’t care about time. Now want JUST enough money, and all the time. I made more money when I was 22 years old than I am right now at 34, and I don’t even mind. It’s plenty to pay the bills, and just means to do the things I actually enjoy. Much better mindset and I’m enjoying it more and more honestly.

 

[CorbLand]

Very well said!

I used to just want money and didn’t care about time. Now want JUST enough money, and all the time. I made more money when I was 22 years old than I am right now at 34, and I don’t even mind. It’s plenty to pay the bills, and just means to do the things I actually enjoy. Much better mindset and I’m enjoying it more and more honestly.

You were smart and worked a ton when you were young and built a good nest egg. That will pay off dividends you cant even imagine. You also chose a career that is going to be in demand for a long long time and takes a lot of skill to do it well. I wish I would have done the same.

My grandpa did the typical work your life, save your money, invest until your 65 and retire. He lived in the same house, drove vehicles until they quit, went on one vacation a year, for his entire life. He retired, to old and broken to do anything. He took one six week trip to Alaska, then sat in a retirement home. He died with a decent amount of money. You know what his kids did with it? Spent it.

Let your investments ride. Spend time with your family and doing the things you love. Especially spend time with your kids.

 

[huntnful]

You were smart and worked a ton when you were young and built a good nest egg. That will pay off dividends you cant even imagine. You also chose a career that is going to be in demand for a long long time and takes a lot of skill to do it well. I wish I would have done the same.

For a few years when I was newer at welding, there was all the talk about robots replacing blue collar work. Now years later, it couldn’t be more opposite actually. Also very apparent that that will never really happen and there is actually MORE demand and LESS people willing to do it. You can damn near name your price and it’ll only get more desirable. My close hunting partner is a self employed pipe welder. Excellent welder. He’s been pulling $150/hr for most of the year and they cry when he leaves to go hunting lol. He’s the one that got me into guns and reloading. Terrible influence honestly hahaha.

 

[CorbLand]

For a few years when I was newer at welding, there was all the talk about robots replacing blue collar work. Now years later, it couldn’t be more opposite actually. Also very apparent that that will never really happen and there is actually MORE demand and LESS people willing to do it. You can damn near name your price and it’ll only get more desirable. My close hunting partner is a self employed pipe welder. Excellent welder. He’s been pulling $150/hr for most of the year and they cry when he leaves to go hunting lol. He’s the one that got me into guns and reloading. Terrible influence honestly hahaha.

You're a year older than me. I dont know about your up bringing but most things I was told would never happen have happened and most things that I was told would happen haven't so, I just take it one day at time anymore.

 

[huntnful]

You're a year older than me. I dont know about your up bringing but most things I was told would never happen have happened and most things that I was told would happen haven't so, I just take it one day at time anymore.

Hahaha couldn’t be more true. I don’t put much emphasis on what anyone says anymore lol. I just live my simple life. 40-50 more years of it hopefully, then call it good

 

[huntnful]

Very well said!

I used to just want money and didn’t care about time. Now want JUST enough money, and all the time. I made more money when I was 22 years old than I am right now at 34, and I don’t even mind. It’s plenty to pay the bills, and just means to do the things I actually enjoy. Much better mindset and I’m enjoying it more and more honestly.

I just realized I’m not 34. I turned 35 a month ago . Devastating hahaha

 

[go_deep]

I just realized I’m not 34. I turned 35 a month ago . Devastating hahaha

Light-years ahead of most. Took me about a decade longer than you, and people my age thought I was bat crap crazy!

 

[huntnful]

Light-years ahead of most. Till me about a decade longer than you, and people my age thought I was bat crap crazy!

Mind sharing your path and mindset and decision making at the time? And why people thought that?

 

[go_deep]

Mind sharing your path and mindset and decision making at the time? And why people thought that?

Missing time with my wife and kids was a huge part. You already eluded to one of the things, is see guys in their 60's giving everything they had to the company. They'd retire and they'd have a replacement in months and nobody even remember what, what's his name was that retired.

Most people think you need to make ever dollar you can, well guess what, if you work a little bit, you can save a lot of money, verse the norm of spending a lot.

One thing to consider is the money it's costing me, worth the time away at work?
If I take home $50 an hour after taxes, is it worth trading say 600 hours of my life for $30k sxs?
Am I willing to trade 4 hours of my life to go out and have a premium steak and some drinks?

I'm not trying to shortchange you here, most of it's pretty tough to put into a form message. You ever want it need some more advise beyond that, shot me a pm, happy to talk one on one.

Enjoy your fall!!

 

[Wapiti7]

You're smarter than any pipe welder (and most CPA's) I know. Good for you on the foresight...yes, you were on track to overfund your traditional retirement dollars. Also, I would not necessarily go Roth 401k. Sounds like you will have a number of years with plenty of cash (your non retirement savings) without much income. Convert to Roth during those years. Under today's tax rules, you could likely get over $100k converted annually and stay in the 12% bracket. That's about as cheap as you'll ever get.

Plus, if you kick, your heirs will get up a step up in basis on the non-retirement funds whereas there is no step up on the retirement dollars. So, another reason to not overfund traditional retirement $'s.