Any ideas on a part time job?

**creditcardfree** · 09-09-2009, 10:15 AM

I'm not sure...but doesn't UPS offer tuition reimbursement. They usually hire plenty of part timers. I don't know how great the hours are though.

And your idea of working at the school where you take classes is a good one. Most likely it is a discount on tuition...but it could be free. The school would be able to tell you how they treat it for tax purposes.

**segmond** · 09-09-2009, 06:12 PM

shut up and get to work, there is no such thing as your wife makes too much money, you are just lazy... who says you can't make more than she makes today? you don't think that you can? shame on you!

**KTP** · 09-10-2009, 04:28 AM

I am guessing because I posted as a guy you flame me, but if I were a woman staying at home while the spouse works you would be ok with that.

I didn't say I haven't worked in the past. Until last year I worked full time but had to leave when they moved the location 70 miles from where I live. The job was only paying around $40,000/year so it was not too hard of a decision. Since that time I have built an entire deck on the house, remodeled several rooms and have done some part time electronics work.

My wife makes just shy of 200k. The 40k or so I can make without a degree means I would take home around 20k, minus extra expenses like car, gas, work clothes. Also we would need to hire someone again to do yard work and any other major work on the house that I have been doing. A very low estimate of that cost would be about 5k, so I would take home about 15k a year.

I am not really thrilled about working 50 hours/week for 15k a year (figuring commute into the actual hours worked). That is well below poverty levels.

The idea of working for the local university might be a good one. They allow 75% of pay to be contributed to a 403k and they waive tuition on the first 6 credits per quarter. The only slight problem is all the current openings require a degree (even the intro stuff that I am pretty sure I woudl be qualified for). Sort of a catch 22 there (need a degree to earn a degree).

**PetMom** · 09-10-2009, 05:15 AM

Segmond - that is an incredibly rude attack on this poster - and you did not even read the facts of his situation.

Anyway KTP: I agree with you and many financial writers agree that many times work can cost more than it earns. You made a good choice and with your wife on board sounds great. Maintaining your home as you do protects your real estate investment and saves a lot.

I might suggest since it sounds like you have some handyman skills have you thought of doing this for money? We know a guy who even through these hard times is staying busy as a freelance flooring installer.

Maybe substitute teaching (a lot of districts require minimum of 90 college hours but not a degree).

Have you really cut costs where you are cooking to save a lot on food - that can really help.

Since you already have so many years toward your degree run the numbers and you might find that investing in the schooling would give you security to always fall back on for you and your wife. You could even go back part time to save costs building up really quickly since you are not having to get through in a hurry to make money.

Actually going to the college and getting to know people in the department you might hear of an opening that would be available with your qualifications. Use your free time to make sure you maintain an A average. Network, hang out in the dept. floor, go to any functions where you will meet all the professors, volunteer for any committee or school group, etc... let them all know you would be interested in a work position if it came up.

**mdcrim** · 09-10-2009, 05:31 AM

I agree with using your handyman skills to bring in some money. It sound like a great idea, because you could make your own hours and pick and choose the projects you take on. I would suggest just starting by asking around your neighborhood if anyone has any projects they need done.

And kudos to you for wanting to bring in some income to help the financial situation. I can't say that I would necessarily do the same if I was in your financial situation...

**cschin4** · 09-10-2009, 08:22 AM

I think it is much more cost effective to stay home and take care of the home, bills, repairs and other things that need done. If you wife is a high earner, than anything you can do to make it easier to continue her high wage is much more cost effective than any PT job. And, BTW, I don't support the notion that everyone needs to work nonstop. In fact, I think you have a great opportunity for a life you both enjoy. Some degrees just pay better and that is the way it is. Instead of stressing about it, do things that contribute to your overall happiness like learning to cook a good meal and on and on. And, don't pay attention to how "other people" tell you how you "should" live. I work PT and couldn't be happier. I COULD work FT, get on the fast track, make big bucks but I prefer my TIME and watching the birds and enjoying life.

**TBH** · 09-11-2009, 07:37 AM

Not to rain on your parade, but jobs in higher ed that don't require a degree and provide even partial tuition remission are VERY hard to come by. Many people want those jobs for the same reason you want one. I work in higher ed, and the people I know in the part-time jobs that give some free tuition have been there for decades, slowly earning their degrees and enjoying their other part-time benefits. In most cases, a part-time job will only give you 1 free class per semester, and sometimes not until you've been there a while.

I disagree with the assessment that it is not worth it for you to work. I think it depends on what your goals are. If you were not trying to retire early as a couple, I would totally support your staying home and maintaining the house and doing things that support your wife's work (cooking, cleaning, taking her clothes to the cleaner, being home and available to help her de-stress when she needs it, taking care of yourself and doing things that make you happy, etc). But it seems like if you do want her to be able to retire in 8 years, that extra $15K per year is nothing to sneeze at. I'm not handy with the calculators, but it seems to me that even after expenses your working would significantly help you get to your goal.

Hey, if you're happy and she's happy, by all means stay home, or just pick up very part-time work when you can. But if you both want her to be able to retire in 8 years MORE than you want to stay home right now, I think you should get a job.

As for PT work, I think the handyman thing is a great idea. You could still save money by taking care of your own house, and bring in some extra cash that could go straight to savings.

Definitely see if you can get a job at a university, I would just remember that other people would kill for such a job so competition will be fierce.

**Scanner** · 09-11-2009, 08:15 AM

Segmond,

Go blow it out your ear.

With the current economic contraction, women are to soon outnumber men in the workforce.

KTP,

If tax consequences are a major dissauder of you entering the workforce, consider starting a business with your skills and funneling money into a SEP-IRA (or Keough) for retirement. I beleive (don't quote me) you can take up to 25% of your income and save for retirement with a max contribution of $30,000.

So, you could make/net 120K and then funnel 30K into a Keough and then yes, you would be paying higher tax on the 90K but you would be accelerating your retirement goal.

The other advice is also good.

**cschin4** · 09-11-2009, 11:00 AM

How does one know if you have enough to retire?

**wnlbutterfly** · 09-11-2009, 04:09 PM

You need to do what they suggest for women that stay at home instead of working outside the home. Figure up the savings that you are getting by NOT working. You already did this somewhat, you figured out what you would be bringing home minus the taxes. What about all the things you are doing that if you were working you would be hiring someone else to do or just not getting things done as they should be. What about your food budget, it is a fact that when both work outside the home, families tend to eat out more, order pizza, or go through drive-thru, because they are EXHAUSTED.

If you want to retire in 8 yrs would it really be worth it to take classes (the cost) and then only work until you retire, other than perhaps self-fulfillment of finishing the degree. I am currently thinking of going back to college, it would take me 2 yrs to finish a degree, no promise of a job when I was done, however, I would still be looking at nearly 15 yrs in that field. To me that would be worth it, but if it was just 6 more years....maybe not.

If you are handy, let me tell you that there are a LOT of husbands that either are too busy or just don't have any skill in that area, and I think you could keep busy. It wouldn't hurt to try. A few business cards, some fliers, ad in the paper, I assume you already have all the tools, and hopefully a way to lug it around.

BTW, my DH stayed home for awhile when I was working (and that was 20 yrs ago), I see no difference between the wife staying home or the husband staying home.

**KTP** · 09-11-2009, 05:55 PM

Hey thanks for all the encouraging words. You make me feel a bit better :-)

I did apply for a university position today. It said requires a degree in engineering, physics or chemistry and a knowledge of mechanics and electronics. They can't be too serious about the degree part if they are willing to take someone with a physics or chemistry background for an electronics position (I know hands down I can outsolder any run of the mill physicist or chemist!

). The other neat thing is the position also requires the knowledge about operating a small craft on the water. I mentioned in the cover letter my years of sailing experience and the coastal navigation courses I have taken. I also mentioned I would be interested in taking classes part time to finish up my degree. Well, crossing fingers on it.

As for working as a handyman....er, I don't really know where to start there. Not a super great people person when it comes to going door to door asking for work. Also, wouldn't I just encounter the same tax issues with the added bonus of having to pay both halves of SS? Or do you guys mean do this type of work under the table?

**FrugalTexan75** · 09-11-2009, 08:29 PM

How about doing some type of volunteer work? Maybe check into Habitat for Humanity where your handyman skills could be put to use. It wouldn't make you money, but it would give you something to do with your time.

**zetta** · 09-12-2009, 03:59 AM

As for working as a handyman....er, I don't really know where to start there. Not a super great people person when it comes to going door to door asking for work. Also, wouldn't I just encounter the same tax issues with the added bonus of having to pay both halves of SS? Or do you guys mean do this type of work under the table?

Under the table (payments in cash that you don't report to the IRS) is one option. You don't have to knock on doors to find work as a handyman, you can place an ad in local papers like the PennySaver, leave flyers on the front door, or try to get listed someplace like Angie's List.

I agree with Scanner -- by owning your own business you can shelter 20% from the taxman by putting it into a SEP-IRA. This can apply to a regular job as well as being a handyman. Look for work in electronics as a contractor or consultant, where your income is reported on a 1099 instead of a W-2. You'll get a higher hourly wage to make up for the fact that they're not paying your employment tax or benefits.

So from your example above, if you made $40k, you'd get to put $8k into the SEP-IRA and only $32k would be taxed. Even if the govt took half of that, you're still netting $24k/year. In 8 years, that's $192k, a nice chunk of change to have if you want to retire early, and should more than pay for the classes you'd like to take.

**KTP** · 09-12-2009, 07:15 AM

I should probably start a new thread on this, but you have me intrigued with the sep-ira deduction for self employment.

I already have a business but I haven't done a lot with it. I started off making some circuit boards for a motor control application and selling them but it was low volume and I stopped because I was worried about liability issues (the $4000 a year or so I was making from it didn't seem worth the potential liability if someone was injured using my board, even with the disclamers I had). For the past year I have only done a small amount of electronics repair and reselling (buying broken lasers and such on ebay, repairing the electronics and reselling them). I have only made a few $1000 on that this year but I have also only spent about a week total of work doing it.

Reading about the sep-ira and the 20% limit I also see that I could do a individual 401k and potentially contribute up to 100% of my net income! Now this would be something to get behind! I think I could scrounge up enough work somehow to get $20,000 a year or so of net income if I really worked at it. Then I could contribute 16,500 to a individual 401k and it would be fuly deductable, regardless of my wife's income. Is this true?

Also, what exactly is a 1402(a)(12) deduction?

Any ideas on a part time job?