How Long Would You Stay in a Boring Government Job?

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CoastLawyer2030
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How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

Update posted on 07/14/2021

I initially had a much longer post typed up, but basically it comes down to this. I have two jobs -- one that is meh but very easy (City government) and one that I love (my solo practice).

The city government job pays $65,000/year; good healthcare; good benefits; $16,000 contributed by employer to retirement (already 65% vested, vests incrementally over next four years). The job is extremely easy but incredibly boring (public records requests, boring research projects, etc.). All the fun litigation stuff gets sent to insurance counsel.

I also hate, hate, hate having to show up 8-4. I never had to do that at a firm or at my private practice, and I hate it.

I also have my own solo practice, which I started two years before I accepted the city government job. When I did take the government job, I scaled my practice down so that I only accept cases that I like and clients that I like. Now I thoroughly enjoy my private practice, much more so than when it was all I was doing. Hours are only 10-15 hours per week and it makes $60-75,000/year.

Financially, our net worth is $261,000. We are 33 and have $209,000 saved for retirement, with an expected $80,000 to be invested per year as long as I'm at the City job.

On that note, we only spend about $70-75,000/year. My wife makes $40,000/year, which means at any given moment, I could probably leave the City job and we would be more than fine. I could leave today if I wanted to do so.

I go back and forth as to how long I should stay at the City government job. On one hand I hate having to show up and do boring work; on the other I will never find an easier job that effectively pays me $100,000/year (salary, health insurance, retirement) in my life.

Basically I am working the City job for the benefits and to accelerate retirement savings. But how long should I stay here?

Should I set a target asset amount? A specific date and time? My plan was to work 4-5 years, and by that time student loans will be gone and we will have well over half a million saved by age 37. My guess is we will be closer to $750,000 by then.

I guess I'm just looking for a benchmark. Any advice appreciated.
Last edited by CoastLawyer2030 on Wed Jul 14, 2021 7:36 am, edited 1 time in total.
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tainted-meat
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Re: How Long Would You Stay in a Boring Government Job?

Post by tainted-meat »

A boring job that pays 100K sounds pretty good. It also allows you the opportunity to do the private practice work that you like. Perhaps if you left the government job you might have to take on cases that you don't like as much. You are in a position to be choosy when it comes to your private practice. If you rely solely on that income maybe you can't be so choosy anymore.
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Re: How Long Would You Stay in a Boring Government Job?

Post by JoeRetire »

CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am I initially had a much longer post typed up, but basically it comes down to this. I have two jobs -- one that is meh but very easy (City government) and one that I love (my solo practice).

I guess I'm just looking for a benchmark. Any advice appreciated.
I don't understand why anyone would stay in a job they hate, rather than pouring all their energies into a job they love.

Find a way to enjoy every day in your life as much as you can.
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Re: How Long Would You Stay in a Boring Government Job?

Post by anon_investor »

CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am I initially had a much longer post typed up, but basically it comes down to this. I have two jobs -- one that is meh but very easy (City government) and one that I love (my solo practice).

The city government job pays $65,000/year; good healthcare; good benefits; $16,000 contributed by employer to retirement (already 65% vested, vests incrementally over next four years). The job is extremely easy but incredibly boring (public records requests, boring research projects, etc.). All the fun litigation stuff gets sent to insurance counsel.

I also hate, hate, hate having to show up 8-4. I never had to do that at a firm or at my private practice, and I hate it.

I also have my own solo practice, which I started two years before I accepted the city government job. When I did take the government job, I scaled my practice down so that I only accept cases that I like and clients that I like. Now I thoroughly enjoy my private practice, much more so than when it was all I was doing. Hours are only 10-15 hours per week and it makes $60-75,000/year.

Financially, our net worth is $261,000. We are 33 and have $209,000 saved for retirement, with an expected $80,000 to be invested per year as long as I'm at the City job.

On that note, we only spend about $70-75,000/year. My wife makes $40,000/year, which means at any given moment, I could probably leave the City job and we would be more than fine. I could leave today if I wanted to do so.

I go back and forth as to how long I should stay at the City government job. On one hand I hate having to show up and do boring work; on the other I will never find an easier job that effectively pays me $100,000/year (salary, health insurance, retirement) in my life.

Basically I am working the City job for the benefits and to accelerate retirement savings. But how long should I stay here?

Should I set a target asset amount? A specific date and time? My plan was to work 4-5 years, and by that time student loans will be gone and we will have well over half a million saved by age 37. My guess is we will be closer to $750,000 by then.

I guess I'm just looking for a benchmark. Any advice appreciated.
How much do you have on your student loans? It sounds like a bad idea to eliminate such an "easy" source of income until you at least have those paid off. Do you have a mortgage or any other debt? How much of your current $70k-75k annual spend consists of loan payments?

Would you be 100% vested in your City job's retirement benefits in 4 years?
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Re: How Long Would You Stay in a Boring Government Job?

Post by BlueCable »

If you work 10-15 hours/week and make $75k/year, is there potential to work 30 hours/week and make $150k?

Give up the govt job and scale up the business.
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

JoeRetire wrote: Tue Apr 20, 2021 9:58 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am I initially had a much longer post typed up, but basically it comes down to this. I have two jobs -- one that is meh but very easy (City government) and one that I love (my solo practice).

I guess I'm just looking for a benchmark. Any advice appreciated.
I don't understand why anyone would stay in a job they hate, rather than pouring all their energies into a job they love.

Find a way to enjoy every day in your life as much as you can.
This might be semantics, but I only really hate the schedule. The job is boring but tolerable. I like the people here.

But again, ya, 8-4 is not my thing.
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

BlueCable wrote: Tue Apr 20, 2021 10:02 am If you work 10-15 hours/week and make $75k/year, is there potential to work 30 hours/week and make $150k?

Give up the govt job and scale up the business.
I was really grinding before I took the city job and my profit was $115,000. But part of the reason I took the city job was because I didn’t like this grind (court appointments, dumb cases, etc.).

The key right now is everything I do is billed hourly ($200/hour). When I was grinding it was stuff that gets done on a way lesser rate. So the math would not be as easy as “2x hours = 2x earnings.”

Accumulating billable clients is possible but I think that will just come with time.
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

anon_investor wrote: Tue Apr 20, 2021 10:00 amHow much do you have on your student loans? It sounds like a bad idea to eliminate such an "easy" source of income until you at least have those paid off. Do you have a mortgage or any other debt? How much of your current $70k-75k annual spend consists of loan payments?

Would you be 100% vested in your City job's retirement benefits in 4 years?
$104,000 in student loans. But I have $106,000 cash. I expect to add $2,000-$3,000/month to that until September when I will pay off the loans.

Totally agree that I will pay off the student loans before leaving. That will happen anyway since we are expecting in August and I’d be a fool to give up these benefits then.

So I guess those are good ideas for some benchmarks.

Is there a savings target you’d try to reach?
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Re: How Long Would You Stay in a Boring Government Job?

Post by T4REngineer »

With your numbers and the realities of what expanding your side gig means (not just taking the ones you want...) I would be hesitant to give up the 8-4 because the side gig will turn into the same thing at least that's the gist I get from you. I would rather have the steady 8-4 with good benefits a team I like and likely paternity leave than a personal gig where if you are not working billable hours, you are not getting paid (ditto for vacations etc.) with a little one on the way.

Normally I am the "you only live once" kind of advice guy but with the information provided I think hanging our for at least a couple more years is a good idea
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Re: How Long Would You Stay in a Boring Government Job?

Post by retire2022 »

delete
Last edited by retire2022 on Tue Apr 20, 2021 10:29 am, edited 2 times in total.
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

T4REngineer wrote: Tue Apr 20, 2021 10:21 am With your numbers and the realities of what expanding your side gig means (not just taking the ones you want...) I would be hesitant to give up the 8-4 because the side gig will turn into the same thing at least that's the gist I get from you. I would rather have the steady 8-4 with good benefits a team I like and likely paternity leave than a personal gig where if you are not working billable hours, you are not getting paid (ditto for vacations etc.) with a little one on the way.

Normally I am the "you only live once" kind of advice guy but with the information provided I think hanging our for at least a couple more years is a good idea
Glad I’m not crazy for thinking I should at least gut this out for two more years.

My plan when I do go back to my solo practice is to not do what I did last time. I was very hungry to pay off student loans and chase FI, but I don’t have that same thirst anymore.

Easier said than done to keep that impulse in check, but that’s the plan.
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Re: How Long Would You Stay in a Boring Government Job?

Post by retire2022 »

CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am I initially had a much longer post typed up, but basically it comes down to this. I have two jobs -- one that is meh but very easy (City government) and one that I love (my solo practice).

The city government job pays $65,000/year; good healthcare; good benefits; $16,000 contributed by employer to retirement (already 65% vested, vests incrementally over next four years). The job is extremely easy but incredibly boring (public records requests, boring research projects, etc.). All the fun litigation stuff gets sent to insurance counsel.

I also hate, hate, hate having to show up 8-4. I never had to do that at a firm or at my private practice, and I hate it.

I also have my own solo practice, which I started two years before I accepted the city government job. When I did take the government job, I scaled my practice down so that I only accept cases that I like and clients that I like. Now I thoroughly enjoy my private practice, much more so than when it was all I was doing. Hours are only 10-15 hours per week and it makes $60-75,000/year.

Financially, our net worth is $261,000. We are 33 and have $209,000 saved for retirement, with an expected $80,000 to be invested per year as long as I'm at the City job.

On that note, we only spend about $70-75,000/year. My wife makes $40,000/year, which means at any given moment, I could probably leave the City job and we would be more than fine. I could leave today if I wanted to do so.

I go back and forth as to how long I should stay at the City government job. On one hand I hate having to show up and do boring work; on the other I will never find an easier job that effectively pays me $100,000/year (salary, health insurance, retirement) in my life.

Basically I am working the City job for the benefits and to accelerate retirement savings. But how long should I stay here?

Should I set a target asset amount? A specific date and time? My plan was to work 4-5 years, and by that time student loans will be gone and we will have well over half a million saved by age 37. My guess is we will be closer to $750,000 by then.

I guess I'm just looking for a benchmark. Any advice appreciated.
Op

I worked for NYC/NYS for 34 years, most people who have law degrees, branch off of Civil Service and become political appointees, the other way you could decide is specialize in a field in the private sector which leverages your government experience as a lobbyist.

Most political appointees have social circle and branding with positions and future positions in where they are known as their brand.

Good luck.
Last edited by retire2022 on Tue Apr 20, 2021 10:29 am, edited 1 time in total.
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Re: How Long Would You Stay in a Boring Government Job?

Post by anon_investor »

CoastLawyer2030 wrote: Tue Apr 20, 2021 10:12 am
anon_investor wrote: Tue Apr 20, 2021 10:00 amHow much do you have on your student loans? It sounds like a bad idea to eliminate such an "easy" source of income until you at least have those paid off. Do you have a mortgage or any other debt? How much of your current $70k-75k annual spend consists of loan payments?

Would you be 100% vested in your City job's retirement benefits in 4 years?
$104,000 in student loans. But I have $106,000 cash. I expect to add $2,000-$3,000/month to that until September when I will pay off the loans.

Totally agree that I will pay off the student loans before leaving. That will happen anyway since we are expecting in August and I’d be a fool to give up these benefits then.

So I guess those are good ideas for some benchmarks.

Is there a savings target you’d try to reach?
What are the specifics of your current City job's retirement benefits? Is it a pension or some kind of 401k/403b (or similar)? I think what those benefits are and what you would be losing if you left today versus 4 years from now is an important datapoint.

Does your $70k-75k/yr spend include or not include the $2k-3k/mo for student loans?
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Re: How Long Would You Stay in a Boring Government Job?

Post by Firemenot »

Life’s too short to do 4-5 years of a job you basically hate and find mind-numbing. I’d invest in building your side practice. You could try to double your number of hours billed per week before you walk from City job. Obviously that would require working basically two full-time jobs for a period. Long-term you’ll be better off (financially and perhaps emotionally) investing in building your business and getting out of the city job as soon as possible. That being said, you may find that you don’t like your solo practice so much once it becomes a full-time job and is no longer a 10-15 hr/wk hobby.
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Re: How Long Would You Stay in a Boring Government Job?

Post by Chris K Jones »

If you really want to quit, maybe setting a date will help you? Maybe set the date for when you are completely vested in the government retirement job? Maybe have corresponding financial goal from the private job? Such as x $ and such and such a date, then quit if you want. I am near the end of my career and have set a date. It helps to deal with the BS. I know that if I just hold my nose, I will be able to walk away soon and on my terms. I even have a countdown app on my cellphone. Psychologically setting a date helped me. Best wishes to you.
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

anon_investor wrote: Tue Apr 20, 2021 10:29 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 10:12 am
anon_investor wrote: Tue Apr 20, 2021 10:00 amHow much do you have on your student loans? It sounds like a bad idea to eliminate such an "easy" source of income until you at least have those paid off. Do you have a mortgage or any other debt? How much of your current $70k-75k annual spend consists of loan payments?

Would you be 100% vested in your City job's retirement benefits in 4 years?
$104,000 in student loans. But I have $106,000 cash. I expect to add $2,000-$3,000/month to that until September when I will pay off the loans.

Totally agree that I will pay off the student loans before leaving. That will happen anyway since we are expecting in August and I’d be a fool to give up these benefits then.

So I guess those are good ideas for some benchmarks.

Is there a savings target you’d try to reach?
What are the specifics of your current City job's retirement benefits? Is it a pension or some kind of 401k/403b (or similar)? I think what those benefits are and what you would be losing if you left today versus 4 years from now is an important datapoint.

Does your $70k-75k/yr spend include or not include the $2k-3k/mo for student loans?
My “pension” is self-directed, meaning that I opted out of the traditional pension (because I knew I wouldn’t work here long enough). Employer contributes 14% of salary as an employee contribution and 10% as an employer contribution. The EE contribution is 100% vested and the ER contribution vests 20% per year.

Long story short, it is already 65ish% vested. I view the difference as fractional when it comes to big picture.

Honestly the best benefit is access to a 457. I max that every year at $19,500 and it is 100% accessible once I leave government employment.

Currently I am not paying anything on student loans (they are frozen to September). Annual spend does not include student loans.

I’m definitely staying until these are paid off.
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Re: How Long Would You Stay in a Boring Government Job?

Post by bloom2708 »

If you work 8-4 at job 1, what hours do you work job 2?

Weekends and evenings?

It is tough when you fill all/most of your non-sleeping time with work. Work < Non-work.

Maybe quit the second job and get some hobbies outside of 8-4. :D
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Re: How Long Would You Stay in a Boring Government Job?

Post by Firemenot »

bloom2708 wrote: Tue Apr 20, 2021 10:39 am If you work 8-4 at job 1, what hours do you work job 2?

Weekends and evenings?

It is tough when you fill all/most of your non-sleeping time with work. Work < Non-work.

Maybe quit the second job and get some hobbies outside of 8-4. :D
In my view, 33 is way too young to saddle oneself with a job that you hate. And it’s doesn’t even pay that well in grand scheme of things, especially in Law.
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

bloom2708 wrote: Tue Apr 20, 2021 10:39 am If you work 8-4 at job 1, what hours do you work job 2?

Weekends and evenings?

It is tough when you fill all/most of your non-sleeping time with work. Work < Non-work.

Maybe quit the second job and get some hobbies outside of 8-4. :D
So I have an iPad hooked up to cell service. I squeeze about 30-45 minutes of work during lunch break. Then I go in for about four hours on Wednesday night and Sunday morning. Not terrible.
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Re: How Long Would You Stay in a Boring Government Job?

Post by ThankYouJack »

CoastLawyer2030 wrote: Tue Apr 20, 2021 10:05 am
This might be semantics, but I only really hate the schedule. The job is boring but tolerable. I like the people here.

But again, ya, 8-4 is not my thing.
I'm not sure I would stick with the 8-4 if you hate the schedule, especially if you can scale up the side business and make more money.

Do you have to work a specific 8-4 schedule or could you talk to your supervisor and ask for more flexibility? I would think they would make exceptions if it's a matter of keeping you on board.

Or would another option be to work part-time for the boring job and scale up your side business?
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Re: How Long Would You Stay in a Boring Government Job?

Post by eye.surgeon »

JoeRetire wrote: Tue Apr 20, 2021 9:58 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am I initially had a much longer post typed up, but basically it comes down to this. I have two jobs -- one that is meh but very easy (City government) and one that I love (my solo practice).

I guess I'm just looking for a benchmark. Any advice appreciated.
I don't understand why anyone would stay in a job they hate, rather than pouring all their energies into a job they love.

Find a way to enjoy every day in your life as much as you can.
To me it sounds like the reason he loves his private job is it's 10-15 hours/week. Scale that up and you have a 40 hr/week job which apparently he hates.

This idea that you have to love your job is a very younger generation, romantic and for most, unrealistic notion. Find a job that pays well and provides a non-toxic environment and saving the loving for your hobbies and life outside work. Love what the job provides for you. Love how it underwrites a fulfilling and rich life of experiences. I LIKE my job. I LOVE the experiences it allows me to provide myself and my family when I'm not at work.
Last edited by eye.surgeon on Tue Apr 20, 2021 10:56 am, edited 1 time in total.
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Re: How Long Would You Stay in a Boring Government Job?

Post by oldfort »

CoastLawyer2030 wrote: Tue Apr 20, 2021 10:05 am
JoeRetire wrote: Tue Apr 20, 2021 9:58 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am I initially had a much longer post typed up, but basically it comes down to this. I have two jobs -- one that is meh but very easy (City government) and one that I love (my solo practice).

I guess I'm just looking for a benchmark. Any advice appreciated.
I don't understand why anyone would stay in a job they hate, rather than pouring all their energies into a job they love.

Find a way to enjoy every day in your life as much as you can.
This might be semantics, but I only really hate the schedule. The job is boring but tolerable. I like the people here.

But again, ya, 8-4 is not my thing.
The schedule issue seems minor. Compared to big law, 8-4 must seem like a dream schedule. In house counsel these days are often working more than 40 hours. 40 hour weeks including a lunch break is a cushy schedule for a lawyer.
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Re: How Long Would You Stay in a Boring Government Job?

Post by bloom2708 »

Firemenot wrote: Tue Apr 20, 2021 10:43 am In my view, 33 is way too young to saddle oneself with a job that you hate. And it’s doesn’t even pay that well in grand scheme of things, especially in Law.
I was getting at the idea that maybe the problem is working 2 jobs. Working at lunch, Wed evenings and some weekends is more than 1 job.

How many people working 1 job LOVE it?
How many people working 2 jobs LOVE it?
Etc.

Getting a single job you like more than the job you don't like is another topic. But relevant. I would focus on more time not working however that plays out.
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Re: How Long Would You Stay in a Boring Government Job?

Post by Firemenot »

bloom2708 wrote: Tue Apr 20, 2021 10:55 am
Firemenot wrote: Tue Apr 20, 2021 10:43 am In my view, 33 is way too young to saddle oneself with a job that you hate. And it’s doesn’t even pay that well in grand scheme of things, especially in Law.
I was getting at the idea that maybe the problem is working 2 jobs. Working at lunch, Wed evenings and some weekends is more than 1 job.

How many people working 1 job LOVE it?
How many people working 2 jobs LOVE it?
Etc.

Getting a single job you like more than the job you don't like is another topic. But relevant. I would focus on more time not working however that plays out.
I currently work two jobs. Day-time job as employed lawyer. Nighttime, early morning, and weekend job for side gig. Overlapping for a year or two isn’t a bad thing. Gives one more time to try to scale up the side gig and test the waters. But with his day job not paying that great anyhow, and not being at all enjoyable, I’d be tempted to just burn the lifeboats and jump ship. Can always get another boring, not very well paying job later if it doesn’t work out.
Last edited by Firemenot on Tue Apr 20, 2021 11:00 am, edited 1 time in total.
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

eye.surgeon wrote: Tue Apr 20, 2021 10:51 am
JoeRetire wrote: Tue Apr 20, 2021 9:58 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am I initially had a much longer post typed up, but basically it comes down to this. I have two jobs -- one that is meh but very easy (City government) and one that I love (my solo practice).

I guess I'm just looking for a benchmark. Any advice appreciated.
I don't understand why anyone would stay in a job they hate, rather than pouring all their energies into a job they love.

Find a way to enjoy every day in your life as much as you can.
To me it sounds like the reason he loves his private job is it's 10-15 hours/week. Scale that up and you have a 40 hr/week job which apparently he hates.

This idea that you have to love your job is a very younger generation, romantic and for most, unrealistic notion. Find a job that pays well and provides a non-toxic environment and saving the loving for your hobbies and life outside work. Love what the job provides for you. Love how it underwrites a fulfilling and rich life of experiences. I LIKE my job. I LOVE the experiences it allows me to provide myself and my family when I'm not at work.
I mean, I generally don’t love work. Compared to my government job I love my solo practice; but work is work. I’ll stop when I don’t have to do it anymore.

On that note you are correct that the reason I really like my solo practice is that it makes a nice income with relatively minor effort. I plan to keep it that way permanently.
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Re: How Long Would You Stay in a Boring Government Job?

Post by DawgFan2001 »

As a former City government lawyer, I understand the schedule constraints. At my City, roll was actually taken in the mornings frequently. That ticked me off tremendously. The schedule inflexibility was a large reason I left, as the 9-6 mandated schedule left no room for the possibility of traffic in picking up child from daycare. For you, in these remote times, is there any flexibility for you to telework one to two days a week to break up the mundane schedule? Having the freedom to control your schedule is a tremendous benefit (in my book), but as a lawyer, we only get so much control, as clients and deadlines rule.
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Re: How Long Would You Stay in a Boring Government Job?

Post by SrGrumpy »

CoastLawyer2030 wrote: Tue Apr 20, 2021 10:05 am
This might be semantics, but I only really hate the schedule. The job is boring but tolerable. I like the people here.

But again, ya, 8-4 is not my thing.
So basically your life is great but you can't be bothered getting out of bed early?
CoastLawyer2030 wrote: Tue Apr 20, 2021 10:59 am I mean, I generally don’t love work.
Life is tough.
Last edited by SrGrumpy on Tue Apr 20, 2021 11:14 am, edited 2 times in total.
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

Firemenot wrote: Tue Apr 20, 2021 10:58 am
bloom2708 wrote: Tue Apr 20, 2021 10:55 am
Firemenot wrote: Tue Apr 20, 2021 10:43 am In my view, 33 is way too young to saddle oneself with a job that you hate. And it’s doesn’t even pay that well in grand scheme of things, especially in Law.
I was getting at the idea that maybe the problem is working 2 jobs. Working at lunch, Wed evenings and some weekends is more than 1 job.

How many people working 1 job LOVE it?
How many people working 2 jobs LOVE it?
Etc.

Getting a single job you like more than the job you don't like is another topic. But relevant. I would focus on more time not working however that plays out.
I currently work two jobs. Day-time job as employed lawyer. Nighttime, early morning, and weekend job for side gig. Overlapping for a year or two isn’t a bad thing. Gives one more time to try to scale up the side gig and test the waters. But with his day job not paying that great anyhow, and not being at all enjoyable, I’d be tempted to just burn the lifeboats and jump ship. Can always get another boring, not very well paying job later if it doesn’t work out.
One more thing about the solo practice — there is significant joy and pleasure in doing whatever I want about literally everything that job entails.

Small things like picking the font on my pleadings, the software I use, etc.

Controlling clients on my terms is significantly better than top down orders. For crying out loud, my email signature for my solo practice effectively states I check email once per day and not to bother me.

I designed my own business cards. I meet clients wearing slacks and a polo. I golf when I feel like it.

Better yet is that I have fun with my cases. I treat them like puzzles. I have fun with my court filings.

Do I “love” the actual work? Not terribly. But I’m convinced that being a solo is about as good as my profession gets.
Firemenot
Posts: 1496
Joined: Wed Apr 01, 2020 8:48 pm

Re: How Long Would You Stay in a Boring Government Job?

Post by Firemenot »

CoastLawyer2030 wrote: Tue Apr 20, 2021 11:11 am
Firemenot wrote: Tue Apr 20, 2021 10:58 am
bloom2708 wrote: Tue Apr 20, 2021 10:55 am
Firemenot wrote: Tue Apr 20, 2021 10:43 am In my view, 33 is way too young to saddle oneself with a job that you hate. And it’s doesn’t even pay that well in grand scheme of things, especially in Law.
I was getting at the idea that maybe the problem is working 2 jobs. Working at lunch, Wed evenings and some weekends is more than 1 job.

How many people working 1 job LOVE it?
How many people working 2 jobs LOVE it?
Etc.

Getting a single job you like more than the job you don't like is another topic. But relevant. I would focus on more time not working however that plays out.
I currently work two jobs. Day-time job as employed lawyer. Nighttime, early morning, and weekend job for side gig. Overlapping for a year or two isn’t a bad thing. Gives one more time to try to scale up the side gig and test the waters. But with his day job not paying that great anyhow, and not being at all enjoyable, I’d be tempted to just burn the lifeboats and jump ship. Can always get another boring, not very well paying job later if it doesn’t work out.
One more thing about the solo practice — there is significant joy and pleasure in doing whatever I want about literally everything that job entails.

Small things like picking the font on my pleadings, the software I use, etc.

Controlling clients on my terms is significantly better than top down orders. For crying out loud, my email signature for my solo practice effectively states I check email once per day and not to bother me.

I designed my own business cards. I meet clients wearing slacks and a polo. I golf when I feel like it.

Better yet is that I have fun with my cases. I treat them like puzzles. I have fun with my court filings.

Do I “love” the actual work? Not terribly. But I’m convinced that being a solo is about as good as my profession gets.
Seems like you’ve answered your own question — quit your job. Added benefit of your solo practice is you can decide to just work less than 40 hrs/wk on average and make less. I’d do my day job probably until the day I’d die if I could do it for 15 hrs/wk. 40+ hrs/wk the clock is ticking.
dboeger1
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Re: How Long Would You Stay in a Boring Government Job?

Post by dboeger1 »

I think this just goes to show how the grass is always greener on the other side and most choices in life are tradeoffs. What you describe is something millions if not billions of people around the world dream of having, a stable easy job with decent pay and good benefits alongside a personal side business that brings in a great hourly rate and only requires 10-15 hours weekly. I realize we like to talk about quality of life on this board as most of us have enough money to live well and are in a position to value time and happiness more than money, but the vast majority of humans who have ever lived spent considerable time and effort working into their old age for considerably less money and retirement security. I personally think the whole idea of "life is too short to spend years in a job you hate" is a bit overstated. I agree one should try not to spend more than say 10 years in a job they absolutely hate if they have a better alternative, but a so-so job providing valuable stability and benefits without being too draining of one's time and energy? People have sacrificed far more for less. That's not to say you shouldn't make choices that optimize your happiness if they're available, just to point out that yours is a relatively good problem to have and I wouldn't let a few voices sway your decision too quickly. I remember being angry at my job once because it was stressful, and then an immigrant friend from Church who makes minimum wage at a part-time job and spends most of his time volunteering at Church and donates what little spare money he has to the homeless asked me how much I make, and he was speechless when he heard. Sometimes you have to hear how others live to really appreciate what you have.

Personally, I wouldn't rock the boat unless you had a better alternative lined up. Instead of basing it on net worth milestones or anything like that, I would just try to scale up your practice until you could no longer handle both, and then if you feel you could continue growing it and no longer needed the benefits from the city job, go ahead and make the transition to full-time self-employed. One thing to keep in mind is that self-employment can be a case of golden handcuffs, and again, the grass always looks greener from the other side. Many people try self-employment for the flexibility in hours only to find that instead of 8-4, they're on-call from 8am-10pm 7 days a week. Sure, you may not have to say no to your kid's soccer game because you can make time and don't have an office to go to, but you may be giving up evenings and weekends to get that. You should think carefully about whether this business of yours can scale not just in terms of revenue, but also in terms of fitting the lifestyle you want. One thing a lot of individual business owners fail to do in the beginning is hire the right help because they want to do everything themselves, and they grind away for years before hiring someone they think is expensive and suddenly realizing how much more efficient their business is. I don't know what your work entails, but it sounds like the type of work where hiring a part-time secretary/office admin could help you focus on the main tasks and scale up your revenue even more.
Topic Author
CoastLawyer2030
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

Firemenot wrote: Tue Apr 20, 2021 11:23 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 11:11 am
Firemenot wrote: Tue Apr 20, 2021 10:58 am
bloom2708 wrote: Tue Apr 20, 2021 10:55 am
Firemenot wrote: Tue Apr 20, 2021 10:43 am In my view, 33 is way too young to saddle oneself with a job that you hate. And it’s doesn’t even pay that well in grand scheme of things, especially in Law.
I was getting at the idea that maybe the problem is working 2 jobs. Working at lunch, Wed evenings and some weekends is more than 1 job.

How many people working 1 job LOVE it?
How many people working 2 jobs LOVE it?
Etc.

Getting a single job you like more than the job you don't like is another topic. But relevant. I would focus on more time not working however that plays out.
I currently work two jobs. Day-time job as employed lawyer. Nighttime, early morning, and weekend job for side gig. Overlapping for a year or two isn’t a bad thing. Gives one more time to try to scale up the side gig and test the waters. But with his day job not paying that great anyhow, and not being at all enjoyable, I’d be tempted to just burn the lifeboats and jump ship. Can always get another boring, not very well paying job later if it doesn’t work out.
One more thing about the solo practice — there is significant joy and pleasure in doing whatever I want about literally everything that job entails.

Small things like picking the font on my pleadings, the software I use, etc.

Controlling clients on my terms is significantly better than top down orders. For crying out loud, my email signature for my solo practice effectively states I check email once per day and not to bother me.

I designed my own business cards. I meet clients wearing slacks and a polo. I golf when I feel like it.

Better yet is that I have fun with my cases. I treat them like puzzles. I have fun with my court filings.

Do I “love” the actual work? Not terribly. But I’m convinced that being a solo is about as good as my profession gets.
Seems like you’ve answered your own question — quit your job. Added benefit of your solo practice is you can decide to just work less than 40 hrs/wk on average and make less. I’d do my day job probably until the day I’d die if I could do it for 15 hrs/wk. 40+ hrs/wk the clock is ticking.
Obviously I prefer the solo gig.

The trick is balancing this with making a smart financial choice.

My wife is due in August and our healthcare with my job is amazing. So I’m here until then at an absolute minimum.

Then I’d like to squeeze out at least another $19.5k in deferred comp space. Even at $2,000/pay that takes me into next summer.

By that point perhaps wait until my three year anniversary date (Feb 2023) so an additional amount of pension vests.

Seems like a good balance that balances the vesting, benefits, etc. Could also build a really nice cash cushion by then.
tashnewbie
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Re: How Long Would You Stay in a Boring Government Job?

Post by tashnewbie »

I agree with another user that it doesn't make sense to leave the gov't job before you completely pay off the student loans. Sounds like you plan to do that by the end of this year, if/when the 0% interest period ends. I checked your prior posts, and it looks like at least some of the cash you have to pay off the SLs was a 401k loan ($50k?). How or would you pay that back?

It also makes sense to stay at gov't job until after your wife and new baby are at home, doing well, and wife is able to go back to work.

How would you pay for health insurance if you left the gov't job? Would your entire family be able to get on your wife's employer plan (assuming she has one)? ACA?

What would be your plan with your private practice if you left gov't job? Scale up the private practice? Would that be desirable? Sounds like you didn't like it when it was your full-time gig. How much could you generate if you were working more hours but not "grinding" (you said you made $115k before when you were grinding)? If you brought in $125k, you'd basically have the same gross income as your 2 current jobs combined, but without the $16k/year retirement contributions from your employer.

What are job prospects for a different full-time employee gig?
Firemenot
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Re: How Long Would You Stay in a Boring Government Job?

Post by Firemenot »

CoastLawyer2030 wrote: Tue Apr 20, 2021 11:26 am
Firemenot wrote: Tue Apr 20, 2021 11:23 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 11:11 am
Firemenot wrote: Tue Apr 20, 2021 10:58 am
bloom2708 wrote: Tue Apr 20, 2021 10:55 am

I was getting at the idea that maybe the problem is working 2 jobs. Working at lunch, Wed evenings and some weekends is more than 1 job.

How many people working 1 job LOVE it?
How many people working 2 jobs LOVE it?
Etc.

Getting a single job you like more than the job you don't like is another topic. But relevant. I would focus on more time not working however that plays out.
I currently work two jobs. Day-time job as employed lawyer. Nighttime, early morning, and weekend job for side gig. Overlapping for a year or two isn’t a bad thing. Gives one more time to try to scale up the side gig and test the waters. But with his day job not paying that great anyhow, and not being at all enjoyable, I’d be tempted to just burn the lifeboats and jump ship. Can always get another boring, not very well paying job later if it doesn’t work out.
One more thing about the solo practice — there is significant joy and pleasure in doing whatever I want about literally everything that job entails.

Small things like picking the font on my pleadings, the software I use, etc.

Controlling clients on my terms is significantly better than top down orders. For crying out loud, my email signature for my solo practice effectively states I check email once per day and not to bother me.

I designed my own business cards. I meet clients wearing slacks and a polo. I golf when I feel like it.

Better yet is that I have fun with my cases. I treat them like puzzles. I have fun with my court filings.

Do I “love” the actual work? Not terribly. But I’m convinced that being a solo is about as good as my profession gets.
Seems like you’ve answered your own question — quit your job. Added benefit of your solo practice is you can decide to just work less than 40 hrs/wk on average and make less. I’d do my day job probably until the day I’d die if I could do it for 15 hrs/wk. 40+ hrs/wk the clock is ticking.
Obviously I prefer the solo gig.

The trick is balancing this with making a smart financial choice.

My wife is due in August and our healthcare with my job is amazing. So I’m here until then at an absolute minimum.

Then I’d like to squeeze out at least another $19.5k in deferred comp space. Even at $2,000/pay that takes me into next summer.

By that point perhaps wait until my three year anniversary date (Feb 2023) so an additional amount of pension vests.

Seems like a good balance that balances the vesting, benefits, etc. Could also build a really nice cash cushion by then.
I’n not saying your plan is unwise, especially with baby on the way. But in my experience the longer you stay, the harder it will be to leave. The handcuffs will just get tighter, e.g., because you’ll be closer to future pension cliffs, etc.
sport
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Re: How Long Would You Stay in a Boring Government Job?

Post by sport »

SrGrumpy wrote: Tue Apr 20, 2021 11:11 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 10:05 am
This might be semantics, but I only really hate the schedule. The job is boring but tolerable. I like the people here.

But again, ya, 8-4 is not my thing.
So basically your life is great but you can't be bothered getting out of bed early?
This is my reaction too. You don't seem to appreciate how good your situation is. Remember, it is called "work" not "play" for a reason.
Topic Author
CoastLawyer2030
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Location: The Buckeye State

Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

tashnewbie wrote: Tue Apr 20, 2021 11:27 am I agree with another user that it doesn't make sense to leave the gov't job before you completely pay off the student loans. Sounds like you plan to do that by the end of this year, if/when the 0% interest period ends. I checked your prior posts, and it looks like at least some of the cash you have to pay off the SLs was a 401k loan ($50k?). How or would you pay that back?

It also makes sense to stay at gov't job until after your wife and new baby are at home, doing well, and wife is able to go back to work.

How would you pay for health insurance if you left the gov't job? Would your entire family be able to get on your wife's employer plan (assuming she has one)? ACA?

What would be your plan with your private practice if you left gov't job? Scale up the private practice? Would that be desirable? Sounds like you didn't like it when it was your full-time gig. How much could you generate if you were working more hours but not "grinding" (you said you made $115k before when you were grinding)? If you brought in $125k, you'd basically have the same gross income as your 2 current jobs combined, but without the $16k/year retirement contributions from your employer.

What are job prospects for a different full-time employee gig?
Lots of questions here!

$50k from 401k was a CARES Act distribution. I don’t have to pay it back but we do plan to pay most of it back. I was thinking stay at City job until we put most (if not all) of this back.

We would do ACA or go on my wife’s health insurance, neither of which are great. But I’ve always said I will refuse to let benefits dictate my career decisions.

Honestly I would just keep the private practice going as is, maybe with a little more work. We spend $75k a year and if my practice made $60k, that’s $100k/year. That’s plenty.

The one untapped revenue stream that used to be good for me was co-counseling. Somebody would pay me $3-4k to write a brief. Now most of these lawyers have cases with the City so I can’t work with them. Just typing this reminded me I should be getting these networks back together post-COVID.

Other job prospects are whatever. I have a good network. I have little doubt I’d be able to land somewhere; the trick is that anything private compels me to close my practice, so the government/solo hybrid is the best of all options.
Eat33
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Re: How Long Would You Stay in a Boring Government Job?

Post by Eat33 »

This idea that you have to love your job is a very younger generation, romantic and for most, unrealistic notion. Find a job that pays well and provides a non-toxic environment and saving the loving for your hobbies and life outside work. Love what the job provides for you. Love how it underwrites a fulfilling and rich life of experiences. I LIKE my job. I LOVE the experiences it allows me to provide myself and my family when I'm not at work.

This is golden. I worked a boring government job in a bad environment for 12 years. Super benefit with good supervisors. It paid for. both my children's private college educations and in retirement I travel the world. Sure we all want a high paying job that fulfills all our emotions. In my life I know very few of those people.

Focus on paying off the student loans. Those are a millstone on anyone's life. Look around at the possibilities in the government workplace.

Enjoy the security the government job affords you. As you age up the chances for illness, injury etc. increase. The job affords you the luxury to take on risk. Congratulations on developing a great salary/career.
=
HootingSloth
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Re: How Long Would You Stay in a Boring Government Job?

Post by HootingSloth »

It sounds like this arrangement is relatively new. I would stick with it for a little while to see if it evolves in some way. Maybe your solo practice will start growing in a way you like more naturally. Maybe the annoyance at the government job will get less as you get used to it. Maybe the solo practice will dry up. Maybe you will get a new boss at the government job that is totally intolerable. A lot can change, but for now it seems to be a financially rewarding arrangement with downsides that are not too bad. I would probably reevaluate three years after you started the government job (so I guess about two years from now). Knowing what you know then, the right path forward may seem obvious, or you may feel similar to how you do now. You can decide whether to make a change, or to reup for another one, two, or three years.
Global Market Portfolio + modest tilt towards volatility (80/20->60/40 as approach FI) + modest tilt away from exchange rate risk (80% global+20% U.S. stocks; currency-hedge bonds) + tax optimization
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CoastLawyer2030
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

sport wrote: Tue Apr 20, 2021 11:32 am
SrGrumpy wrote: Tue Apr 20, 2021 11:11 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 10:05 am
This might be semantics, but I only really hate the schedule. The job is boring but tolerable. I like the people here.

But again, ya, 8-4 is not my thing.
So basically your life is great but you can't be bothered getting out of bed early?
This is my reaction too. You don't seem to appreciate how good your situation is. Remember, it is called "work" not "play" for a reason.
It’s not getting out of bed, it’s being told to be somewhere for a certain period of time “just because that’s the way we do it.” I will be done with my work today by 2:00 but will have to sit here until 4:00. It’s dumb.

Of course I’m well aware it could be worse, but I would never let it get worse, because I value my time and flexibility over almost everything. That is why I turned down a big law offer years ago.
Shorty
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Re: How Long Would You Stay in a Boring Government Job?

Post by Shorty »

Might want to consider keeping the student loans. Depends on interest rates. Legislation could forgive/reduce or otherwise provide favorable results. I'd keep liquid investments earmarked to offset the debt.
oldfatguy
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Re: How Long Would You Stay in a Boring Government Job?

Post by oldfatguy »

CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am
I go back and forth as to how long I should stay at the City government job. On one hand I hate having to show up and do boring work; on the other I will never find an easier job that effectively pays me $100,000/year (salary, health insurance, retirement) in my life.
This part confuses me. You are thinking about leaving because the job is "boring" ... but you are hesitant to leave because you don't think you could get another "easy" job at the same pay. Aren't boring and easy almost synonyms here?
sport
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Re: How Long Would You Stay in a Boring Government Job?

Post by sport »

CoastLawyer2030 wrote: Tue Apr 20, 2021 11:39 am It’s not getting out of bed, it’s being told to be somewhere for a certain period of time “just because that’s the way we do it.”
Most jobs are like this. If they pay you, they want you to be available.
CoastLawyer2030 wrote: Tue Apr 20, 2021 11:39 am I value my time and flexibility over almost everything
Perhaps you should place more value on financial security and mental/physical health.
finite_difference
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Re: How Long Would You Stay in a Boring Government Job?

Post by finite_difference »

CoastLawyer2030 wrote: Tue Apr 20, 2021 11:39 am
sport wrote: Tue Apr 20, 2021 11:32 am
SrGrumpy wrote: Tue Apr 20, 2021 11:11 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 10:05 am
This might be semantics, but I only really hate the schedule. The job is boring but tolerable. I like the people here.

But again, ya, 8-4 is not my thing.
So basically your life is great but you can't be bothered getting out of bed early?
This is my reaction too. You don't seem to appreciate how good your situation is. Remember, it is called "work" not "play" for a reason.
It’s not getting out of bed, it’s being told to be somewhere for a certain period of time “just because that’s the way we do it.” I will be done with my work today by 2:00 but will have to sit here until 4:00. It’s dumb.

Of course I’m well aware it could be worse, but I would never let it get worse, because I value my time and flexibility over almost everything. That is why I turned down a big law offer years ago.
Have you requested a WFH/flexible work schedule? It seems silly for a City to lose a lawyer that’s doing their job over a schedule issue, so I would think they would want to try to accommodate you.

Do you get time off for the baby? I’d spend all my leave when the baby is born and then see how things go from there? How much leave does your government job have? It sounds like you’re in a great position, and can be choosy.

How much do you lose in terms of vesting if you leave after the baby is born?
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh
finite_difference
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Re: How Long Would You Stay in a Boring Government Job?

Post by finite_difference »

sport wrote: Tue Apr 20, 2021 11:49 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 11:39 am I value my time and flexibility over almost everything
Perhaps you should place more value on financial security and mental/physical health.
Speaking for myself here, but time and flexibility are directly linked to mental/physical health.
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh
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Re: How Long Would You Stay in a Boring Government Job?

Post by Dottie57 »

oldfatguy wrote: Tue Apr 20, 2021 11:43 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 9:50 am
I go back and forth as to how long I should stay at the City government job. On one hand I hate having to show up and do boring work; on the other I will never find an easier job that effectively pays me $100,000/year (salary, health insurance, retirement) in my life.
This part confuses me. You are thinking about leaving because the job is "boring" ... but you are hesitant to leave because you don't think you could get another "easy" job at the same pay. Aren't boring and easy almost synonyms here?
+1
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Re: How Long Would You Stay in a Boring Government Job?

Post by Tamarind »

I'd say at least stick it out until the employer contributions to pensions vest. Otherwise you're leaving 10% of that "easy" comp on the table.

It sounds to me like you can't scale your solo practice without getting back into a grind you dislike, so if you quit the gov job you'll have time to spend with your kid (excellent) but probably end up sharply reducing income (not so great). Because of all that student loan debt you are well behind on where I'd want to be for your age and having a family. Under those circumstances it's hard to encourage you to cut household income. You're on track to retire early ONLY because of your high income.

Personally I would also have trouble with your schedule because I don't function well early in the morning. But if it's just not liking that you have to be there when there's nothing to do, I think I'd have to say suck it up. You are getting paid to be in your seat. If you really have nothing useful to do, could you work on research/skills development that, while relevant to your gov job, would also improve your private practice potential earnings?

What does your spouse think you should do? Does she like her career? Could she scale up her income if she knew you'd be the primary caretaker when the baby arrived?
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Re: How Long Would You Stay in a Boring Government Job?

Post by tashnewbie »

CoastLawyer2030 wrote: Tue Apr 20, 2021 11:34 am We would do ACA or go on my wife’s health insurance, neither of which are great. But I’ve always said I will refuse to let benefits dictate my career decisions.

Honestly I would just keep the private practice going as is, maybe with a little more work. We spend $75k a year and if my practice made $60k, that’s $100k/year. That’s plenty.

Other job prospects are whatever. I have a good network. I have little doubt I’d be able to land somewhere; the trick is that anything private compels me to close my practice, so the government/solo hybrid is the best of all options.
Make sure you account for any additional cost of health insurance in your HHI needs.

I don't quite understand your conundrum. If you think $100k total HHI is sufficient to pay your bills and save the way you want, then why would you need to continue working 2 jobs? Why couldn't you just work your solo practice and earn the $60k/year you've already been earning? Or, why couldn't you find another job, even if it's private, that pays you the same amount (ETA: or more)? Is the issue that you don't want to give up your solo practice because of the flexibility it provides or some other non-monetary benefit? Even if you went private and discovered you don't like it, you could always quit and go back into solo practice.

ETA: I just don't see why you need 2 jobs if you think $100k HHI is enough for you and your spouse (only you can determine that). If you decide to leave gov't job, I definitely wouldn't leave until probably the end of 2022 or early 2023, so that you can ensure your wife and new baby are well, you pay back the CARES Act 401k loan, and you have more time to plan.
Last edited by tashnewbie on Tue Apr 20, 2021 12:05 pm, edited 1 time in total.
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anon_investor
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Re: How Long Would You Stay in a Boring Government Job?

Post by anon_investor »

finite_difference wrote: Tue Apr 20, 2021 11:50 am
Have you requested a WFH/flexible work schedule? It seems silly for a City to lose a lawyer that’s doing their job over a schedule issue, so I would think they would want to try to accommodate you.
Not sure why this made me laugh. I used to work for a state government, flexibility is not something that local/state governments are known for... :beer
Firemenot
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Re: How Long Would You Stay in a Boring Government Job?

Post by Firemenot »

CoastLawyer2030 wrote: Tue Apr 20, 2021 12:04 pm
SrGrumpy wrote: Tue Apr 20, 2021 11:58 am
CoastLawyer2030 wrote: Tue Apr 20, 2021 11:39 am
It’s not getting out of bed, it’s being told to be somewhere for a certain period of time “just because that’s the way we do it.” I will be done with my work today by 2:00 but will have to sit here until 4:00. It’s dumb.
It's not dumb, it's outrageous. How dare they pay you a ton of money to sit at your desk twiddling your thumbs for 2 hours.
CoastLawyer2030 wrote: Tue Apr 20, 2021 11:39 amOf course I’m well aware it could be worse, but I would never let it get worse, because I value my time and flexibility over almost everything. That is why I turned down a big law offer years ago.
C'mon, admit it. You're kinda lazy. Maybe law isn't for you. Or working in general. The other law thread seems to indicate that 101% of lawyers hate their jobs.
The happiest lawyers I know are the ones with part time practices making $50-75k a year.

Not sure why law has to be a “nose to the grindstone” type of job. It doesn’t.

Since I prefer golf, hanging with my kids, and doing work on the house over work, yes, I’m lazy. I’m utterly fine with that label.
Seems like a 15-20 hr/wk legal practice is the ideal for you so long as the work flow doesn’t dry up.
Grt2bOutdoors
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Re: How Long Would You Stay in a Boring Government Job?

Post by Grt2bOutdoors »

But can you live on 75-80k? Your lifestyle right now is $150k. You have an easy 8-4 gig, I’d keep it. Other jobs will not come so easy, either time consuming or other forms of aggravation.
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CoastLawyer2030
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Re: How Long Would You Stay in a Boring Government Job?

Post by CoastLawyer2030 »

tashnewbie wrote: Tue Apr 20, 2021 12:00 pm
CoastLawyer2030 wrote: Tue Apr 20, 2021 11:34 am We would do ACA or go on my wife’s health insurance, neither of which are great. But I’ve always said I will refuse to let benefits dictate my career decisions.

Honestly I would just keep the private practice going as is, maybe with a little more work. We spend $75k a year and if my practice made $60k, that’s $100k/year. That’s plenty.

Other job prospects are whatever. I have a good network. I have little doubt I’d be able to land somewhere; the trick is that anything private compels me to close my practice, so the government/solo hybrid is the best of all options.
Make sure you account for any additional cost of health insurance in your HHI needs.

I don't quite understand your conundrum. If you think $100k total HHI is sufficient to pay your bills and save the way you want, then why would you need to continue working 2 jobs? Why couldn't you just work your solo practice and earn the $60k/year you've already been earning? Or, why couldn't you find another job, even if it's private, that pays you the same amount? Is the issue that you don't want to give up your solo practice because of the flexibility it provides or some other non-monetary benefit? Even if you went private and discovered you don't like it, you could always quit and go back into solo practice.
I keep the private practice because it is infinite job security and I mostly enjoy it.

If the mayor loses the upcoming election and a new law director fires me, oh well. I have a side practice humming at $60-75k. That’s a great feeling of financial freedom.

I guess my conundrum is how to balance giving up the financial security this job provides with short and long term financial goals. I kind of view this job as setting the cornerstone for giving me funds to aggressively save for retirement, pay off student loans, etc.
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