25 Hour Work Week? Yes or No?

[Shwa Girl]

Wow, I have BEEN the patient in this situation in the ER, almost exactly with several nurses trying, then when older, experienced Super IV nurse came, boom, it was in.

Thanks for sharing Natalka.

The Super Experienced Employee idea works in retail, blue collar jobs, with executives and even with secretaries/administrative staff too. When you lose an older, wiser, teck savvy Super Admin person, the whole office seems lost.

[Brad]

I don't think amassing a million dollars by retirement is that difficult.

Assuming you start with $0 at age 25 you need to save about $400/month to have a million at 65 assuming average annual interest of 7%. If you can't start saving till 30 because you were paying off your student loan or whatever then you need to save about $580/month. Not out of reach for someone making an average income assuming they're not living lavishly.

[Midnightly]

I don't think amassing a million dollars by retirement is that difficult.

Assuming you start with $0 at age 25 you need to save about $400/month to have a million at 65 assuming average annual interest of 7%. If you can't start saving till 30 because you were paying off your student loan or whatever then you need to save about $580/month. Not out of reach for someone making an average income assuming they're not living lavishly.

see the trouble with this lays is finding a job that pays enough and in a living situation where you can afford to set aside $400+ a month.. and i'm not talking about people living lavish lifestyles.. it's a good chunk of people who have limited incomes and after rent/basic mortgage(not talking lavish houses.. but realistic to fit their family needs) utilities, insurance, groceries there isn't a spare $400.. we also have a wide selection of highly educated people who are carrying rather large loans and cannot find a job.. it really does depend on where in the country you are living.. the average income will leave you living paycheck to paycheck in my town

[frugal50]

25.
27
Still, you are living the dream, as the researchers are suggesting.

I am really thinking about the 25 hour work week and what it takes for me to make this happen

my work schedule alternates like this:

week one - 27 hrs
week two- 42 hrs
week three- 39 hrs

so, i don't know if i have it that good

[blueeyetea]

Older does not equal dead wood in MANY cases.

No doubt about it, but you're taking my words out of context. As part of employement cycle in a business, it's just as important to make sure your staff isn't getting stagnant by helping employees leave, by giving them a pension, as it is when you're hiring them. What do you think downsizing is all about? It's laying off people that are no "longer required", and they often target older workers because they earn more than younger employees.

[blueeyetea]

I don't think amassing a million dollars by retirement is that difficult.

Assuming you start with $0 at age 25 you need to save about $400/month to have a million at 65 assuming average annual interest of 7%. If you can't start saving till 30 because you were paying off your student loan or whatever then you need to save about $580/month. Not out of reach for someone making an average income assuming they're not living lavishly.

Not possible if someone is to work for only 25 hours a week. Unless they have another income stream coming in, of course.

And what's an average income to be able to put away $400/month (after tax, of course) for the rest of your life and be able to afford small luxuries? I can see someone with no obligations being able to manage it, but anyone not fitting situation, I bet it's a struggle.

[Shwa Girl]

my work schedule alternates like this:

week one - 27 hrs
week two- 42 hrs
week three- 39 hrs

so, i don't know if i have it that good

If my math is correct you are working about 36 hours per week, on average. At least you get some weeks with free time to take care of your personal appointments or relax.

[suziehenderson]

Yeah you just wouldn't be able to afford the kind of lifestyle we have all been accustomed to with a 25 hour work week. Although it would sure be nice!!

[matrix82]

I could not afford to go down to working 25 hr weeks. Working full time barely pays the bills, and we live frugally.

[matrix82]

Working at minimum wage how would someone make their rent, pay for food and cover bills?
It would be $1083 per month before taxes and deductions.

Rent where I live for a two bedroom apartment is around $750-1400 per month, excluding utilities.

My spouse works 45+ hrs a week just to pay bills and I work more than fulltime.

The idea sounds great, but unless employer's are going to pay more than minimum wage or costs drop dramatically, it is not liveable.

[Shwa Girl]

Working at minimum wage how would someone make their rent, pay for food and cover bills?
It would be $1083 per month before taxes and deductions.

Rent where I live for a two bedroom apartment is around $750-1400 per month, excluding utilities.

My spouse works 45+ hrs a week just to pay bills and I work more than fulltime.

The idea sounds great, but unless employer's are going to pay more than minimum wage or costs drop dramatically, it is not liveable.

You are right. People working minimum wage and living alone would have a difficult time. People making minimum wage, living with room mates and family and share food costs, utility costs, etc and take advantage of every benefit available in the ir province, may be able to do this.

[matrix82]

[QUOTE=Shwa Girl;5306181]You are right. People working minimum wage and living alone would have a difficult time. People making minimum wage, living with room mates and family and share food costs, utility costs, etc and take advantage of every benefit available in the ir province, may be able to do this.[/QUOTE


The key is may be able to do this.