>39 yo
>live alone, rent
>Work full time, gross income $40k/year
>$50k in savings
>very modest 401k and IRA
I want to reduce my weekly work hours by 4 to 8 hours a week because I like what I do but I fucking hate being gone 45-50 hours a week doing it. I would ideally work part time but I don't know how to make ends meet at this time if I do that.
Surely others have achieved this. LULZ, how can I cut my hours at work and make up for the several thousands of dollars a year I'll lose (depending on how many hours I cut) doing so?
I really hate working so much and the prospect of having to do it for 25+ more years before I can retire only to be diagnosed with congestive heart failure and die.
I also want to start contributing to a Roth IRA. Good or bad idea?
Thanks, LULZ.
if you live in America and you've been in a career for a few years, let alone age 40, 40k a year is a very low income. what do you do for work?
Don't want to dox self. Have an AAS and work in medical field as a licensed practitioner. I live in a rural area. I like what I do very much. I just don't want to do so much of it.
>licensed practitioner
do a bachelors or associates degree in nursing. they make $70-80k a year even in my shithole rural flyover town, 3 x 12 hour shifts a week. if you're okay with traveling you could do travel nursing contracts for $100k/year very easily, maybe even $150k/year. travel contracts vary in length but are typically 12 weeks long and they pay for all of your housing and traveling expenses.
I have no interest in becoming a nurse.
>Or make your hobby somehow monetizable, take care of your health and adopt a growing mindset.
solid advice
Can you spoonfeed me on where to start or give me some links to spoonfeed myself, this sounds solid.
Thanks. I don't know anything about crypto. Is bitcoin generic for cryptocurrency or is it a stand alone thing? (Yeah, I'm retarded)
>This entire thread is full of survivor bias cunts
Thanks for readjusting perspective. This makes sense.
>I have no interest in becoming a nurse.
okay, well without any specifics as to what you are currently doing, you're not giving us much to work with.
>Can you spoonfeed me on where to start or give me some links to spoonfeed myself, this sounds solid.
Well in general for yield, investors usually buy either bonds or stocks. Stocks you may be familiar with, publicly traded companies like Google for example are listed on stock exchanges and they publish their financial results at set intervals. Some publicly traded companies pay out dividends to shareholders (or buy back and cancel shares to support the stock price) with the profits from their operations and with their balance sheet. Remember that a company can at any point decide to stop paying or reduce their dividends and buybacks, and they sometimes do exactly that if their results are weak. So dividends are not to be taken for granted, but history is a decent predictor.
Bonds are divided into two categories: government and corporate. Corporate bonds are issued by companies and tend to be riskier. Government bonds (shitholes excluded) are considered safer. Usually when investors buy govt bonds they go for US govt bonds.
Bonds carry the risk of the corporation or government defaulting on their debts but are otherwise better for steady yield. Stocks are more volatile, meaning their market value changes more rapidly, and dividend payments can change pretty quickly if the company so decides for whatever reason. Stocks can also go to zero all the same just like bonds. Stocks are more popular because of their volatility, but whichever asset you buy you should be aware of the risks.
If you want to buy stocks or bonds you need to open an account with a brokerage. I can't tell you which brokerage is best for you but you can search around the web to find info on each, or ask folks over at /smg/ for which brokerage they recommend. You can get a lot of useful info on market related stuff on Investopedia, and there are lots of books like The Intelligent Investor by Benjamin Graham.
Do you personally trade in stocks/bonds?
I mostly trade stocks but I recently dabbled a bit with US govt bonds. I prefer stocks.
>what's this bitcoin thing you speak of
I HATE THE ADVERTCHRIST I HATE THE ADVERTCHRIST I HATE THE ADVERTCHRIST
my friends a doctor and does 3.5 x 12 hour shifts per week and gets 330k. OP should become a doctor
I do this in Norway, can bank 110k$ net lel. Used to be more but Norwegian currency isn't doing too well. Forgot to add healthcare and education is for free so I'm not sure anymore what to spend money on.
anon, this is your boss. you should work harder and we might be able to give you a 3% raise this year. You're welcome.
>anon, this is your boss. you should work harder and we might be able to give you a 3% raise this year. You're welcome.
This is too true to life. I got a 3% raise last year. I met with my bosses and argued for more. I ended up with a 12% raise but still make <$25/hour. The company cries poor and while I'll argue for more this year, I'm skeptical I'll get it.
Thank you, let me read through this.
>just go back to school for a PhD
kthx
All the time dude. I have Korean beef in the crock pot right now. Lunch for the work week.
The simple answer, if you like what you do, is to do it somewhere else for more money and less time. If you are too rural for there to be a competitive market, you have to go somewhere else where they need your services.
Consider also that you might have a bullshit job. A person with a real trade and use to society does not have these existential problems. They work however much they want, because their skills are in demand everywhere.
The average income in America is $31k. You'll actually meet few normies under 40 making more than $40-$50k after taxes, you're either an idiot living in a perception bubble or not from this country, or both. Anyone looking for $60k+ will be competing with thousands of resumes in this economy, you really have no idea. This entire thread is full of survivor bias cunts who don't realize the vast majority of this country is scraping by with almost nothing.
>talking about post-tax income
are YOU from this country?
Yeah I am retard, what the fuck is your point? Do REAL Americans consider they goy-tax dollars part of their earnings? nagger
>t. loser burnout
>how can I cut my hours at work and make up for the several thousands of dollars a year I'll lose (depending on how many hours I cut) doing so?
I bought bitcoin for 5 years every few weeks (excluding during when it went above 40k.) I don't even work anymore. i just travel and chill.
You have to increase your income. Making only 40K at nearly 40 years old is pathetic. I know guys in their 20's who make 6 figures WFH in the tech industry and barely do any work.
Give me specifics; what and how to get into it.
Specifics, please. What coin, how much, how much of an investment have you made to get where you are.
Don't get into crypto. Otherwise, you'll find yourself applying at Mcdonalds as a second job to pay your next rent. Don't listen to that vermin.
Instead, invest in learning a new skill. Something that you can do and make money from online while working your shit pay job. It will eventually be worth it.
Whoops meant to reply to this
>Specifics, please. What coin, how much, how much of an investment have you made to get where you are.
i just told you
I bought bitcoin for 5 years from 2017 and onward. infact I bought for another 10k this year. and now im travelling.
>> howmuch have you invested
half my paycheck for 5 years.
im relatively free.
I'm currently going back to college for a career change and I'm making $52k a year for my bandage job. WTF are you doing
wait 40k?
Don't gig workers make that much in some good cities?
Also starting tech salaries in the WORST OF THE WORST pajeet body shop was around 45k in 2019.
although tech is in the shitter mnow , look into sales.
I think you would need to move, take some risks, but it seems like you like your current situation too much.
Roth ira is good, but you need to get your income up somehow. Unironically the way out for you, is to work more and eventually get to a position where you would work less.
THE only thing good about your situation is that you live alone. Every other person in your age group is working at 30% capacity due to them having a family. If you are not in a relationship, you should be grinding with no issues. You have no expectations, only need to pay attentio to health.
I feel like you are one of the hobby obsessed person who don't like working much. In your case, the only advice I can give you, is to learn to love your work. Or make your hobby somehow monetizable, take care of your health and adopt a growing mindset. Look into stuff outside your comfort zone, maybe it might be better your life in someway.
Are you a druggie? Do you have low T or something?
>how can I cut my hours at work and make up for the several thousands of dollars a year I'll lose (depending on how many hours I cut) doing so?
by speculating successfully in the financial markets, and/or investing your savings into assets that give you a steady annual yield. For example a 5% annual yield would give you $2.5k a year before taxes. Some companies pay close to 10% dividend yields and have a good dividend history.
Take the weekend shift pill
>3-12's
>only 36 hours at wage cage
>shift differential nets you a higher hourly than the same wage on day shift
>4 days off
>holidays can bump that up to 6
>there are men, who post on this board, in current year, who make 40k or less/year
learn2cook
>I really hate working so much
This is where you become unsalvageable. We all do buddy, be we learn2cope. You don't have to love what you do but you can't working a job you hate and keep going in everyday. Consider taking the same role at a different employer where you could get better pay and hopefully a better working environment. Or better yet get the quickest medical field certification you can and move up. Shift work as a nurse seems like a good fit for you. 3x12's and 80k is a sweet deal. I hurts not knowing what you don't know, but now you've got a thread of information you have no excuse not to take action and better your circumstances.
How often does LULZ get bombarded with WHAT PASSIVE INCOME WILL MAKE ME RICH WHILE I SLEEP threads?
much less often than shitty crypto scam threads. Threads like these are refreshing by comparison
Are there actually passive income methods that work?
yes, dividends and bond yields work
Invest 25k in weed stocks and hope for the best
Suicide is for weak people.
start onlyfans
Think of ways to sell products at scale, or services independent of the hours you work. Like, sell widgets on ebay, sell houses for commission. Convert one of your hobbies that you are passionate about into a side gig. Always keep an excel spreadsheet with costs and revenue, and always be optimizing.
>>$50k in savings
https://wheretheroostercrows.com/how-to-retire-on-50k-net-worth/
50k USD in most countries can let you live really comfortable.