July 14, 2009, 4:52 am

Now Working 4 Days a Week!

by: The Financial Blogger    Category: Alternative Income
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Just by writing this title, I get all excited! On August 31st, this will be my first week without a Wednesday at the bank! I finally found a way to stay (happy) at the bank 😀

A few months ago, I asked for a raise thinking I wasn’t paid enough. Unfortunately, I failed in my negotiation and I actually went on the “free agent market” for about 2 weeks. The good news is that I received several offers. The bad news is that I had to pay back my MBA and my financial planner exam to my employer if I ever leave now (this is a 3 years contract). While I knew about it when I signed for the MBA, I didn’t figure I wanted to leave 😉 I was absolutely convinced in getting a great raise.

Life being what it is, I had to find another solution. Knowing me, I would have wrote the darn cheque and leave after a few month just because I was really upset. I’m having a hard time when I don’t get what I want 😉

Working 4 days drops your income, so what’s the point?

Right. By working 4 days a week, I have to drop my income by 20%. Therefore, I am not getting anywhere close to a viable economic situation at home (my wife will go back to school this fall so she won’t be working at all for the next upcoming years). A financial planner heading toward the route of bankruptcy… quite original 😉 This is probably what some people say when the see me go… but I have a plan… I have an “evil” plan ;-D

While my pay cheque will be reduced by 20%, my objectives will drop accordingly. Since my bonus is exponential, I can get a lot of money if I reach 150% to 200% of my objective. Since I started as a financial planner in March 2008, I always brought more than my share and I was working 4 days a week (I used to spent my 5th day at the MBA). Therefore, I seriously think I can bring the very same number that I am doing right now with my new schedule. Then, instead of reaching 150% of my objectives, I’ll probably reach 200%-250%. This will bring me to the highest bracket of bonuses and compensate for my 20% income drop 😉 I made some quick calculation and I would “lose” about 4K to 5K by switching to a 4 days/week schedule.

You’re still losing money, brainless!

Yeah, well this was only the first part of my “evil” plan! The second part is that I will not use my 5th day to go golfing or play on my Playstation (I wish I would though!). I will use it to work on my online business. Hence, the company will pay a salary for my additional work.

With the pay cheque “signed by me to me”, I will so about 4K more than working 5 days at the bank. The good news is that the evilness doesn’t stop there: we (my partner and I) are convinced that we can make our company grow significantly. So in a few months, my work will generate more cash flow within the company. We already have multiplied the company monthly income by 6 in 18 months. If I can only double it during the next year, I’ll be having my BMW in 2011 😉

I always thought I would be making more money through my company than by working for an employer. However, leaving everything behind and starting on your own requires a lot of guts. Having a family and a mortgage to pay, I though that working part time on my project would eventually bring me there but without taking major risks…

As I previously said, the worst case scenario would be to fail with our company, lose our investment and go back at 5 days/week and retire at 65 with my bank pension plan. However, who knows where the best case scenario can bring us… can we dream to become another John Chow?

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Congrats, sounds like you’ve put a lot of thought into this. I think it’ll be a positive step forward for you.


Wow I hope you don’t become the next John Chow.. His blog is an endless stream of promotion about some products that noone cares about. I do wish you to generate $40K/month online however, but I also wish you people to respect you 😉

Congrats on your online businesses’ success. As for the financial advisory position, isn’t it sort of like a passive income opportunity, since once you get the wealthy clients, you start earning a percentage of the assets you manage ( unless of course they leave you)

I am asking since I have never found it necessary to talk to a financial advisor, nor knew anyone involved with this business..

by: The Financial Blogger | July 14th, 2009 (7:49 pm)

Hey DGI,

Don’t worry, I never wanted to have TFB to look like a Nascar and it will never happen. I will other way to make money 😉

I am currently working for a bank. Therefore, I have a pay cheque and a bonus on the growth of my book at the end of year. If I would be working as an independent advisor, I would be able to earn trailer fees (small percentage) on my book. It may become an alternative to my day job along with my online business…

I would say this is part of my “evil plan #2” 😉

[…] read The Financial Blogger on a steady basis, you have seen a lot of changes in my life in 2009. My wife quit her job, I finished my MBA and I reduced my work week to 4 days while investing more effort in my web […]

[…] online income or simply walking outside on a sunny day. I guess I like my job even more since I’m working 4 days a week. With this type of schedule, I’m able to enjoy life at work while having a lot of free time to do […]