Mrs. 39 Months and I had an interesting discussion recently. As we have closed in on FI, and really started thinking about what our lives might be like, we have both turned to the topic of continuing to work, and what it might look like. For the FIRE community, the idea of continuing to work past our FI point is a matter of some controversy. Some think that even running a blog and making money from it disqualifies you from being “retired.” Others continue to work and earn a paycheck, but they do it in a way that benefits them (their goals, timeline, vacation schedule, etc.).
Both of us believe we want to continue to “do something” once we hit FI, and the idea of the social aspects of work (comradery, people to interact with, etc.) is compelling. Yet one of the other aspects of continuing to work kept rising up in our discussions, and we both voiced it – the desire for more free time.
The current work structure in the US, even for those who are long-term employees, is somewhat regimented. Most folks get 2-3 weeks of vacation a year, plus some sick time. Yet to hit many of our “bucket list” items and to really enjoy our hobbies, Mrs. 39 Months and I need a lot more time than that. Heck, I’ll need at least 4-5 weeks a year for three years in order to finish up my backpacking on the Appalachian Trail!
This got me thinking about the current work structure in the US, and how it may alter in the years ahead. With low unemployment (below 4%) many key job functions are having a hard time finding potential employees. My company is struggling to find truck drivers, engineers, and key analysts. While this is happening, the baby boomers (yep, I’m one) are retiring in record numbers, leaving the workforce bare of people who have done the job for 40+ years (and who typically can be relied on to come to work )
I have read numerous articles about Gen X and Millennials demanding more free time and benefits from their companies, and who are willing to leave after 1-2 years if they don’t get them. Companies are frantic about developing their internal candidates – because the cost and effort to bring on new ones and train them is so high (and so “hit and miss”).
Does this mean that companies might become more flexible with free time in the future? My thought would be to provide unpaid time to workers, upon request (i.e. the workers would have to schedule it). That way, companies wouldn’t bear the burden of having to pay folks for not working (and could free up costs during business lulls) and workers could get some additional free time to pursue other interests.
Not sure if this will ever happen, but the ongoing shift to worker’s being more valued (getting bigger pay increases, hiring bonuses, etc.) is nice to see.
Mr. 39 Months