Should I reduce hours for a 4 day week?
Hi folks,
So I am 32M. I earn only £32400 working as an associate scientist but due to my family I have a £240k flat owned in cash, £147,000 invested (vanguard), £26000 in a GIA, 25k in cash and no debts of any kind. I was considering reducing my hours by say 4-5hrs to allow for a 4 day work week (already work a sort of compressed hours sched).My total combined pension contribution is 24% (me and employer). I'll be moving property next year but that's all covered with the sale of my current flat and inheritance to come (ca £170k).
My essential bills/spending only amount to about £900 p/m, so with this drop of salary I'd be down to about £1720 take-home but realistically I'd be on about £2000 due to some side income I have.
I feel like in the pure monetary sense it's kind of a no brainer? but there a small part of me that is holding me back, think it's just because very few 32 year olds are lucky enough to be in my position so it feels bizarre. My job isn't too stressful, I'll add that, and I like the lab work but not having to commute for the fifth day in a row and just not being in an office would be glorious.
Would really appreciate anyones thoughts on this from those that have done it or considered it. Last thing I would add' I'm maybe not talking strictly about FIRE here but it's sort of a Coast FIRE.
Thanks in advance for anyone that votes