If you could afford to live by working just 3 days a week…

[Somedreamer]

Would you?

Or would you keep working 5 days and put the money into savings for your future?

Extra context: No huge financial safety net, still have a mortgage and 6 months of expenses as an emergency fund.

Full disclosure: I am considering this but wondering if it’s irresponsible!

I want to drop to 4 days as soon as I can afford to.

I went 1 day a week at 46 or so to do a second degree then masters. Now beck up up to 2 days.

but mortgage was paid off and I was doing 50% of salary into pension (I now sacrifice all down to min wage)

I luckily have a very flexible senior role so can move days around to suit me and the company. I have picked up 2 trustee shops of charities which I enjoy. I can’t imagine going back full time unless it was sone specific project. But I could retire if I wanted money wise. I’d not be doing this without Mortgage paid off and pension pot near the limits.

I work 3 days and it's brilliant. I get enough time at work to feel like I'm doing something worthwhile, but I get enough time at home to feel like I'm not completely swamped with home stuff.

I'm 41, 3 young kids and a relatively well paid job I enjoy. I honestly feel so lucky.

I would only do that if my mortgage was paid off and I had substantial savings.

If I could afford to live off of the 3 days wages I’d work 4 days and that would give me extra…. Just in case.

i work 5 days just now but considering putting in a flexible working request for 4 days. A 3 day weekend would be good.

Do it, you only live once!!

What about 4 days?

The situation you describe is not what I would describe as 'not needing to'. A mortgage is a huge debt and six months of savings is nothing if you lose your job and take a while to find a new one. So no, I wouldn't cut back my hours if I was you, I would keep working and saving, because anything can happen and ensuring a secure future is the most important thing you can do. Always plan for the worst case scenario - it probably won't happen - but if it does you'll be bloody glad you did.

How about a compromise of 4 days?

In a heartbeat. I love just spending time at home pootling about; especially in what passes for a summer in the UK!

Rather than going from 5 to 3 why not drop to 4? It’s an extra day off for you, and far less of a salary drop (I do 4 days). 6 months expenses is great; do you have things like life insurance, critical illness, income protection etc? What are your pension contributions?

I'd quite like to do it. I could already afford it and I work quite short hours but spread over 5 days. I could make much more efficient use of my time if I could do it over 3 days, so long as I could choose the 3 days (I currently get one weekday off and I do several group activities then, so I'd want to keep the same day if possible).

I think it is role and organisation dependent. As others have mentioned, it is easy to be taken advantage of by doing the full time equivalent in part time hours. Job shares are increasingly common in public sector which when they work well are great all round. When they don't is a different story.

There is also that particular puratantical trait that sees it as good workers' duty to work at least 37 hours a week. I find that very easy to ignore.

It should be a reversible decision so no long-term harm done if change your mind

In these uncertain times I think it's best to work as much as you can, while you can.

I think it’s totally normal to feel like this at this point. You are reaching that halfway through your career to retirement. I did PT when my DD was younger and back up to FT from 6. However the big financial changes have come now shes 9. The plan had been to take more time off at this point however personal circumstances mean I need the money for security. So at this point no, I wouldn’t go PT. I want to have a secure future and a comfortable retirement.

It sounds like your personal circumstances mean you need to only factor in your own needs.

What would going PT do to your pension and will it be enough for a comfortable life. Do you also have any other savings except the 6 months? If you needed to draw down on the emergency funds for house or car repairs, would you easily be able to top it back up? Do you utilise your ISA each year? It sounds like you potentially need something in between the two

I’ve done 3 days a week for a long time - albeit different circumstances to juggle childcare.

Im working 5 days now and work load is much more manageable, I get better pay and more holiday.

I would stay at 5 days a week, save and enjoy your annual leave.

It's all a gamble isn't it?

You could spend your life working full time, exhausted, and end up (for whatever reason) not even making it to retirement, or coming into a large amount of money, etc.

You just don't know.

You have to find a balance of enjoying life now and planning for the future.

Is there something you would really like to do with the extra time?

I'm planning to work a 25h week once my son is in school. We want to live a certain lifestyle, and I want to freelance for charities and good causes.

I have a considerable wodge in savings (several years income), and would retrain/qualify if I needed a boost to get back into the jobs market.

I like to think that a career doesn't have to have a single trajectory. It can meander and evolve into a different thing.

I can afford not to work full stop but I do it because I want to work. I save and also spend what comes in.

I have a couple of friends who reduced to 90% ie alternate Fridays off. They said that made a big difference to their quality of life, but not huge drop in salary

It's all well and good saying "YOLO" etc, but I'm close to retirement and the difference in various friends' pensions / savings really hits home at this age

Also, "find a job you enjoy and you'll never work a day in your life" is true. I'm fortunate that I really enjoy my job and don't wish to cut down my hours

Absolutely going part time was the best thing i ever did

The other thing you need to factor in is what you’ll spend on those 2 days you’re not at work. I could afford to drop to 4 days if I didn’t spend any extra on that day but then what would be the point if I couldn’t meet friends for lunch, do my hobby etc

I work 4 days a week and could never go back to full time again. I’m looking for another job though and it’s either full time at the same money I’m on now or a massive reduction in pay to go 4 days. I’m lucky with what I earn right now but only because I have been with the same organisation for so long.

I work 25 hours over 2 long shifts. I try and have these as night shifts for the 30% pay uplift. It works great for me.

You’ll get lots who will clutch their pearls and scream “but your pension!” and that’s a fair comment but life is for living in my opinion. I have had 3 people close to me die young in the last few years. The latest was my early 20s neighbour who dropped dead unexpectedly last week.

I personally would rather do the things I want to do whilst I can and whilst my child is young. Once he’s older and more self sufficient then I’ll increase my hours and top up my pension. For now, I am happy, solvent and will remain this way.

I’m actually planning to do this. From January, we will be able to afford for me to work three days a week only, and I’m literally counting down the days.

I have so many other things I’d like to do - if you don’t have to work, and don’t particularly’want’ to, then why would you?