Part-Time Work at 40 (Our Mortgage Free, Worry Free Plan)

Рет қаралды 7,091

Күн бұрын

After becoming mortgage free and achieving Coast FIRE, we decided it was time to work part-time instead of full-time.
Here are the steps we took to afford part-time work at 40 years old.
CHAPTERS
0:00 Intro
1:45 Create A Budget
2:34 Grow The Gap
4:37 Save Money For Emergencies
5:33 Eliminate The Debt
6:26 Invest For Coast Fire
7:22 Pay Off Your Mortgage Early
7:59 Transition One Spouse To Part Time
8:43 Get Used To Living Less
9:31 Have Your Other Spouse Join You In Part Time
10:28 Spend More Time Relaxing and Enjoying Life
#PartTime #PartTimeWork #FinancialIndependence #FIRECommunity #FamilyFinance #PersonalFinance
RESOURCES
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Each week, Andy Hill interviews personal finance experts, shares the best fintech tools and even discusses his own journey with family financial independence.
BIO - ANDY HILL:
Andy Hill is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness.
Andy's advice and personal finance experience have been featured in major media outlets like CNBC, Forbes, MarketWatch, Kiplinger’s Personal Finance and NBC News. With millions of podcast downloads and video views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world.
When he's not ""talking money"", Andy enjoys being a Soccer Dad, singing karaoke with his wife and watching Marvel movies.
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CREDITS
Research & Writing: Andy Hill
Video Editing: www.editvideo.io
KZfaq Channel Management: Kayli Groves - www.weirdigitalmarketing.com/ "

Пікірлер: 32

@MarriageKidsandMoney Жыл бұрын

Do you think Part-Time Work is in your future?

@sharonhelleman7378 Жыл бұрын

This is what I am doing too! I'm past coast-fire, enough that I can work half time at my day job. With the rest of my time, I am working on my art and trying to see if I can get that off the ground as a small business. Super grateful for the financial flexibility to pursue my passion.

@MarriageKidsandMoney Жыл бұрын

That's incredible Sharon! What incredible flexibility you've given yourself!

@Jmtg84 Жыл бұрын

This is great! Thank you. My husband is so overworked and we’re cutting way back on spending in all areas of our life so he can cut back on work. Moving to Michigan would be a good move😊 We’re in CA where it seems like everything is 10x as much.

@thesytch Жыл бұрын

Good for you guys! We are attempting something similar - with regard to cutting back on spending. Good luck to you both!

@AnomalyBelleza Жыл бұрын

Great video and right on time for me! I made it a goal of mine to change my work schedule from FT to PT in 2023 (to only seek exactly what I want which is part time work) and to deliberately change my life structure to one that can be supported by a transition from full time to part time and to find a role within my already established 10 years of professional experience in my field that would still provide substantial earnings. I have fortunately found some great options. Time (particularly time freedom) is literally the ultimate competitive advantage in this thing called life. Now that I’ve released myself from the full time schedule, it’s amazing how much time I get back, stress has lowered, I sleep better, I look more forward to my days, and my energy - I have been able to divert more of it to personal projects that were so difficult to move forward while under full time schedule. I’m very happy to have made the change. In fact, happiness is an understatement.

@MarriageKidsandMoney Жыл бұрын

Now that’s a testimonial for part-time work! Congratulations on your plan coming together so well!

@lawrenceporter3723 Жыл бұрын

Great video guys, at 54 I'm long overdue to working part time

@MarriageKidsandMoney Жыл бұрын

I hear that! We’re hoping to keep this part-time train rolling 🤞

@BudgetingTheBacon Жыл бұрын

Sounds like a great idea and plan. Just having the freedom to have that option sounds like a breath of fresh debt free air! I definitely plan on upping my investments and looking at the different F.I.R.E. movements, to see which one will fit best for me. Great breakdown and tips to achieve part time "work" and still being able to live the good life (less stressful).

@MarriageKidsandMoney Жыл бұрын

So glad you enjoyed it! Options are what we’re seeking for sure.

@wildfoodietours6702 2 ай бұрын

The idea of going part-time is super motivating. I have enough invested to make this a reality. I do have to constantly ask myself though, "What would I do will all that extra free time?"

@MarriageKidsandMoney 2 ай бұрын

oh, that is THE BEST QUESTION to ask yourself. I'd suggest starting with micro experiments today. - take better care of your health - spend time with aging parents - create quality moments with your kids - plant a garden - volunteer - start a blog / KZfaq channel :) - pick up a new hobby - learn an instrument - experience the joys of a midday nap

@Brandonjwellman Жыл бұрын

Great stuff as always!

@MarriageKidsandMoney Жыл бұрын

Thank you!

@is.3846 Жыл бұрын

Sound and reasonable blueprint to FIRE. Happy Thanksgiving!

@MarriageKidsandMoney Жыл бұрын

So glad you enjoyed it!

@autobotdiva9268 Жыл бұрын

yup, started back grocery shopping at ALDI, its little further up the road but the bags are full for cheaper!

@MarriageKidsandMoney Жыл бұрын

Aldi has made a huge difference in our lives!

@bestlifeever4548 Жыл бұрын

I just turned 40 a month ago and retired at 32 and my husband works and has great business and his income is all extra since I bought my home and everything before and had been paying it and taking care of kids and everything on my income alone and my income increases every yr and his has been growing too so we are working on paying home off and will be debt free and have minimal expenses. I spend lot of money on our farm and home and paid cash before married for 165k and paid cash for new vehicles thinking that was best way to go and while I'm glad I didn't add to or adjust my Mortgage my car was totaled when someone hit me head on and learned a lot from that experience but got new vehicle but paid of a quicker rate with a loan. Right now focusing on stashing cash and paying off home and could live off just my income if need to but hopefully he will be able to retire in few years by then everything paid and have large amount cash and kids will be out of house. I also am looking at how to monetize my knowledge and experience and maybe some of what I do just to help others and maybe speed things up as well. Life is all about peace of mind for me and what some others would feel they would invest in my mind having everything paid for and the cash on hand helps me sleep better at night and rather pay cash for other homes for example as investment than in stocks with way things are. I definitely also think that if you can arrange things to enjoy life and have better quality of life by cutting expenses and needing less money to work less then that's way to go. Or spending time on starting own business doing what you love with freedom from finances. I love talking and learning and hearing about finances and what other have done or playing with numbers and planning. My oldest son is 22 and set to retire before 40 and teaching my other sons how to live life they want too by reaching personal and financial goals.

@MarriageKidsandMoney Жыл бұрын

It’s a beautiful family legacy you’ve created!

@carolannstevens5814 Жыл бұрын

Love this ANDY!!! Debt is Never a blessing it is a curse. I just wish I would invested many years ago. We do have a pension but not enough to be comfortable. Thank you always! You and Joshua Becker are two of my favorites!

@MarriageKidsandMoney Жыл бұрын

Thank you for your support Carol! If you have a short fall on income in retirement, finding a part time job that you love can help you. Check out this list of part time jobs (side hustles) and see if any of them look interesting to you: kzfaq.info/get/bejne/bZ-YhtqI0pbVn4E.html

@toddmitcham8335 Жыл бұрын

Great advice!

@MarriageKidsandMoney Жыл бұрын

Thank you!

@paulsantori8920 Жыл бұрын

Awesome plan, I’m just wondering how much were you making that you were able to accomplish these goals so quickly?

@MarriageKidsandMoney Жыл бұрын

Great question! For about 10 years, we made around $180k on average for our household income. Then I left my job in 2020 to start my small business, and since then our HHI has been closer to $100k per year.