Looking for Stories of People who Transitioned to Part Time

[celtics21]

Hi!

I was a GP dentist for 5 years, now in endodontics residency. Part time has always appealed to me, but I figure I'll want a good 3-5 years full time after residency to solidify clinical skills and get a solid footing financially, and then draw down to 3 days/week. About 70k in loans and 270k in retirement. 32M Single, no kids. No idea what salary I could make part time (or even full time), but I'm looking for MCOL cities to move after graduation, and I'm a decent saver. Anyone do something similar and have the pros/cons to share?

Thanks!

[CordMcNally]

I can’t speak towards endodontics but going part-time will have similar pros and cons no matter what profession you’re in.

Pros:
More time to do what you want
Easier to not burn out as long as you’re not fitting 5 days of work into 3 days
Healthier work/life balance


Cons:
Less money
May be difficult to have unfilled time if you’re a “busy body”
May have to work part-time longer in order to reach financial goals
Depending on how part-time you go, you may have skill atrophy

Obviously, this isn’t an exhaustive list but some things to think about. I’m honestly not sure if wanting to go part-time before you’re even done with training is good or bad.

[G]

The pros and cons are what you would expect.

I worked my rear off out of residency when I was single/no-kids. Compared to residency, I still had a ton of free time. Then started taking a month off. Then continued taking a month off but also working 1 less day/mo, down to 0.4 FTE.

It worked for me and eventual family. (Of course, this multi-decade bull market is a stiff tail-wind.) Although I look at my peers who are working full time, have never taken a month off, but still seem concerned about money...it makes me wonder if my math is wrong or if I'm missing something. I was talking to a colleague about this recently and was told I must have an inheritance for the numbers to work--yikes.

[celtics21]

I’m honestly not sure if wanting to go part-time before you’re even done with training is good or bad.

I laughed at this-thanks for responding! I’d say realistic, I have a healthy respect for the toll on my body. I’m only 5 years in and I get twinges in my back and wrist.

[billy]

The pros and cons are what you would expect.

I worked my rear off out of residency when I was single/no-kids. Compared to residency, I still had a ton of free time. Then started taking a month off. Then continued taking a month off but also working 1 less day/mo, down to 0.4 FTE.

It worked for me and eventual family. (Of course, this multi-decade bull market is a stiff tail-wind.) Although I look at my peers who are working full time, have never taken a month off, but still seem concerned about money...it makes me wonder if my math is wrong or if I'm missing something. I was talking to a colleague about this recently and was told I must have an inheritance for the numbers to work--yikes.

There will always be people who outspend their income.
I went sort of part time (4 days/week no call, still 40 hrs though) due to my wife's health. Now, there is no way I would go back to full time/call. The money isnt worth it, although its well over 6 figures/year that I leave on the table by keeping my schedule. Yet some of the younger calltakers "cant" save 6 figures/year, despite that being less than 20% gross for them. I hope they enjoy working until they are old, which they say they would.

[Tim]

I laughed at this-thanks for responding! I’d say realistic, I have a healthy respect for the toll on my body. I’m only 5 years in and I get twinges in my back and wrist.

Physical toll and work/life factors are completely different impacts on finances.
Working 1/2 days for a mom with kids may solve a work/life problem. It might also solve a physical issue.
No way do I wish to work 5 days a week for 1/2 pay. Depends on the issue.

[GasFIRE]

I laughed at this-thanks for responding! I’d say realistic, I have a healthy respect for the toll on my body. I’m only 5 years in and I get twinges in my back and wrist.

Due to back pain issues my long-time dentist refers out anything more than fillings on the upper molars. I suggest becoming a lower jaw endodontics specialist. Also get a good own-occupation disability insurance policy. Twinges in the wrist aren’t good for anyone depending on their hands for a living.

[nastle]

I had to do it when my dad was living with me he had a lot of health problems it actually worked out really well
I don’t think I want to at this stage but I’m hoping after 60 I can just work part time until I die
Don’t think I can afford to retire completely

[wideopenspaces]

I worked part time right out of residency. My son was 6 at the time and I wanted to be home with him after school. There weren't any real drawbacks as we were still making quite a bit more than we were in residency. I did go to full time after 5 years ( about 2.5 years ago) but with the pandemic and working from home I get the time I want at home with full time pay. So you can always work more down the road if you want to or need to.