Interesting Job Proposal

I got an interesting offer this week.  The company wants to know if I would be interested in overseeing the building and property while they try to sell it. They really need somebody local who they can trust to operate in their best interest and who knows the intricacies of the building.  I told them that I would have to think about it.

Diane’s first reaction was “sounds like a ball and chain” to me. I chuckled but in some ways she is right on. I had a restless night with all of this going through my mind. The next day we had a further discussion and I told them that I wasn’t greatly interested but I would not leave them hanging. They thought that the minimum level of commitment that they needed would be 3 days per week for a couple of hours. They would also be willing to pay for my time from home and back, one hour.

I then explained to them that an extension of my employment by 5 weeks would be worth more than they would ever pay me for the work.  This would mean that I would be on the payroll on July 1 and that a large chunk of my deferred income would be paid to me in the next tax year.  After our scheduled discussions regarding progress in getting the building ready for sale they concluded that a 2 month extension made sense.  They were clearly rationalizing to themselves why I needed to be kept longer J

When they left we both have the understanding that they will pursue getting approval for this arrangement. They will also lobby for my employment extension. I’ll probably have a couple of weeks since there is a big meeting going on over in Singapore right now with all of the decision-makers tied up.

I need to work out some negotiating points so I’m ready when they call me with their proposal for particulars.  I might even want to put something out there ahead of time to “anchor” their thinking about where my head is at on salary.

PROS:

1. It gives me something to focus on to ease the transition to full retirement. This would be like a 25% job. 
2. Perhaps some tax advantages (mileage, home office)
3. Some income – not really a big benefit due to tax bracket
4. Possibility of self employment – need to look into this. Health care possibilities?

CONS:

1. It is a ball and chain – Something will always be hanging over my head instead of being a care-free retiree
2. Midnight phone calls when something is broken I will have to deal with it

Negotiating Points:

1. They don’t have many options. Nobody else has my qualifications
2. Maintain company cell phone – Smart phone is worth $75 per month