Overemployment

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letsquitpharm said:
Anyone is secretly working 2-3 FT jobs simultaneously? It would be great if people can share some experience with that...How would the tax filing work in that case?
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For taxes, simply add all the incomes and withholdings. Use the online IRS withholding calculator to ensure you are withholding enough. It has functionality for simultaneous multiple employers/income sources.
 
CarpetTable45 said:
For taxes, simply add all the incomes and withholdings. Use the online IRS withholding calculator to ensure you are withholding enough. It has functionality for simultaneous multiple employers/income sources.
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you will definitely go over the max SS contribution - make sure your software shows that you are getting the $$ back. I did that routinely when I moonlighted.

I once new a guy who had two 7 on 7 off jobs. Then complained his ex-wife kept asking for more alimony. I can't see how that is even remotely sustainable.
 
Dred Pirate said:
you will definitely go over the max SS contribution - make sure your software shows that you are getting the $$ back. I did that routinely when I moonlighted.

I once new a guy who had two 7 on 7 off jobs. Then complained his ex-wife kept asking for more alimony. I can't see how that is even remotely sustainable.
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That's bull****. You shouldn't have to pay more alimony just because you're working more.
 
Sparda29 said:
That's bull****. You shouldn't have to pay more alimony just because you're working more.
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I honestly don’t know. I don’t think it was child support since I think his kid was grown, but I could be wrong.
 
I know a pharmacist that worked 7 on 7 off at one place, then worked 3 12-hr shifts at another. They both offered pensions as well. I can honestly say I couldn't pull that off.
He retired a few years ago.

He apparently had a mansion built on top of a mountain.
 
TheBlaah said:
I know a pharmacist that worked 7 on 7 off at one place, then worked 3 12-hr shifts at another. They both offered pensions as well. I can honestly say I couldn't pull that off.
He retired a few years ago.

He apparently had a mansion built on top of a mountain.
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Except he never had a life until for a good chunk of his career. I used to moonlight, But all I did was spend more money on stupid things.
 
mentos said:
Why would anyone want to do this?
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I don't have much student loan left, ~30k I think. I also rushed to get a 15-yr mortgage earlier this year...so I do appreciate that extra paycheck, for that additional financial security.

My J1 is quite relaxed and permanently hybrid, only 2 days onsite a week and not strictly enforced. I am approaching the end of my comp sci program as well, ~6 months to go. Also moonlighting in tech pretty much an open secret these days: people just don't talk about it publicly, but I know so many are just doing it or planning to do so. Holding multiple full-time jobs may sound stressful, but it brings double or even triple income, plus it makes any unforeseen circumstances less scary, ie PIP and layoffs, etc. FIRE is also another motivation, so why not?
 
TheBlaah said:
I know a pharmacist that worked 7 on 7 off at one place, then worked 3 12-hr shifts at another. They both offered pensions as well. I can honestly say I couldn't pull that off.
He retired a few years ago.

He apparently had a mansion built on top of a mountain.
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I know an individual like this…even I wouldn’t be willing to overwork myself to this extent. Diminishing returns and lack of enjoying leisures, hobbies. Time is valuable
 
letsquitpharm said:
I don't have much student loan left, ~30k I think. I also rushed to get a 15-yr mortgage earlier this year...so I do appreciate that extra paycheck, for that additional financial security.

My J1 is quite relaxed and permanently hybrid, only 2 days onsite a week and not strictly enforced. I am approaching the end of my comp sci program as well, ~6 months to go. Also moonlighting in tech pretty much an open secret these days: people just don't talk about it publicly, but I know so many are just doing it or planning to do so. Holding multiple full-time jobs may sound stressful, but it brings double or even triple income, plus it makes any unforeseen circumstances less scary, ie PIP and layoffs, etc. FIRE is also another motivation, so why not?
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Sooo you're asking shift-work, on-site pharmacists if you should work 2-3 remote tech jobs simultaneously?
 
letsquitpharm said:
I don't have much student loan left, ~30k I think. I also rushed to get a 15-yr mortgage earlier this year...so I do appreciate that extra paycheck, for that additional financial security.

My J1 is quite relaxed and permanently hybrid, only 2 days onsite a week and not strictly enforced. I am approaching the end of my comp sci program as well, ~6 months to go. Also moonlighting in tech pretty much an open secret these days: people just don't talk about it publicly, but I know so many are just doing it or planning to do so. Holding multiple full-time jobs may sound stressful, but it brings double or even triple income, plus it makes any unforeseen circumstances less scary, ie PIP and layoffs, etc. FIRE is also another motivation, so why not?
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What good is retiring in your 40s or 50s if you have to sacrifice your 20s and 30s?
 
mentos said:
What good is retiring in your 40s or 50s if you have to sacrifice your 20s and 30s?
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Exactly, and overworking yourself like this will cause you to have health problems in your 40s. Not only will you be crippled, but you'll be spending all that money on medical bills. It's not worth it.
 
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FIRE is generally stupid, but I have a “you do you, boo” attitude about it. Perhaps I’ve seen one too many stage IV cancer diagnoses in patients under 40.

That said, I essentially had 1.75 full time jobs after finishing residency for about a year. I over-contributed to the dual-401k accounts I had by about $700, and IIRC I don’t remember getting forced refunds from them.
 
If you can FIRE from investments or a business then that's cool. But killing yourself and having no life with two full time jobs is stupid. You can die in a car accident tomorrow.
 
DH1987 said:
Exactly, and overworking yourself like this will cause you to have health problems in your 40s. Not only will you be crippled, but you'll be spending all that money on medical bills. It's not worth it.
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I spend ~15-20 hours weekly max on J1...and the job isn't challenging to me at all. Basically I found myself eating free snacks in my office without doing anything onsite then going home and complete everything in a few hours...I think I am gaining weight because of this 😅
 
My approach to income is this: get paid the most you can, without working more than 40 hours a week. Hell, I'd say cut it down to 30 hours if you can. But the goal should be to maximize your income per time spent working - NOT to increase time spent working.
 
I think it is also the nature of the work and how much energy you have left. You can work 2 jobs, get paid for 2 jobs and feel like working 2 jobs. Or you can work 1 job and feel worse than working two full time jobs.
 
Yeah, and I'm pretty sure 30 hours a week wouldn't be too draining on a healthy individual. I kinda threw that number out there thinking about one of the northern European countries (Norway maybe?) who tried out 32 hour work weeks and found no diminished productivity. But I agree that how you feel when you leave work is a good indicator of whether or not you need to back off.
 
DH1987 said:
Yeah, and I'm pretty sure 30 hours a week wouldn't be too draining on a healthy individual. I kinda threw that number out there thinking about one of the northern European countries (Norway maybe?) who tried out 32 hour work weeks and found no diminished productivity. But I agree that how you feel when you leave work is a good indicator of whether or not you need to back off.
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We have a ton of people who work between 0.5 and 0.9 FTE. When my child is out of day care, I will cut back at least to 0.9 or 0.8 - I figure if I do it at the same time as day care cost go away, it is almost a wash.

Like @confettiflyer said, I have seen to many people work their but off, only to die early and not enjoy. I still max contribute to my retirement, but I am not gonna kill myself to retire early - age 60 is where it looks
 
letsquitpharm said:
Anyone is secretly working 2-3 FT jobs simultaneously? It would be great if people can share some experience with that...How would the tax filing work in that case?
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The math kinda sorta doesn't work out! Full time is 40hrs a week, 3 full time jobs = 120hrs a week. There are only 168hrs in a week. That results in a grand total of 48 hrs/week or 6hrs a day for commute, meals, and sleep!
I have been a pharmacist for 36yrs (never RETAIL) and have managed to maintain a full time and a part time job, most years.
Work-life balance is important, family is important. If you need to work 18-20hrs per day, more power to you, and if you can get by with 20-30hrs per week, and pay all the bills, you are doing well.
I am 61, love my profession, and don't even see myself as retired before 70. That's only if I am physically and mentally up to the task, God willing.
As far as dying early and not enjoying life, I don't think that working and enjoying life should have to be mutually exclusive. But then again, what do I know?
 
Overemployment is something that is enjoyed primarily by those in the technology sector who earn 2 or 3 full time salaries while contributing 15-20 hours (usually remotely) to each job.

Sorry, not for our saturated field where we sometimes do the equivalent of 1.5-1.75x full time jobs for the salary of one.
 
If you must work over 40 hours per week then you're better off finding one job that offers 1.5x+ overtime pay after 40 hours per week. Working 67 hours would be about the equivalent of working 2x separate 40 hour jobs. 67 hours per week still seems crazy to me.
 
mentos said:
If you must work over 40 hours per week then you're better off finding one job that offers 1.5x+ overtime pay after 40 hours per week. Working 67 hours would be about the equivalent of working 2x separate 40 hour jobs. 67 hours per week still seems crazy to me.
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My place pays 1.9x for overtime due to some weird math with my 7 on 7 off schedule. It's pretty nice.
 
Dred Pirate said:
I honestly don’t know. I don’t think it was child support since I think his kid was grown, but I could be wrong.
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Alimony and child support is based on your gross income, if you work 3 jobs, you pay more Alimony. If your wife has a good job and makes more than you, she pays you alimony. If you had a high paying job and quit with no source of income, you pay no alimony. It goes beyond fair and past 50% with the court systems.
I am married for 36 years, and still pay a huge alimony and child support, the bad thing is they still live with me.
 
mentos said:
If you must work over 40 hours per week then you're better off finding one job that offers 1.5x+ overtime pay after 40 hours per week. Working 67 hours would be about the equivalent of working 2x separate 40 hour jobs. 67 hours per week still seems crazy to me.
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For this week though, I worked ~3 hours each day, and my boss thought I spent "a lot of time" fixing the prototype, but in fact, it was a breeze for me under 2 hour's work...at least he thought I was pulling the handwork, but I actually went grocery shopping and cooking for my girlfriend and myself during the day...

I basically work to present my boss some* deliverables each week, so I don't work and get paid by hour.

I just saw some new grads positions for Amazon, requiring a breathing pulse with just 1 yr developing exp using one language...🤔
 
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