Monthly Archives: April 2016

Attaining A Remote Work Arrangement

In my last post I shared how although my job is in NYC, I will be working remotely for six months and moving in with my girlfriend in the Midwest. It is an exciting time, of which I spend a lot of figuring out the logistics of the move (which will take place in May) and what to do with all my stuff. I am currently in the process of going through my belongings and donating, throwing away, and selling things (cha-ching!).

Let’s take a step back and talk about how I was able to convince my employer to allow me to do this. I’m going to be fully transparent when I say it took a little bit of skill and a lot of luck to make this happen. To be considered for a remote work arrangement, I think you and your job need to meet certain criteria.

Do a majority of your work from a laptop. In my line of work I spend 95% of my time staring at my laptop. We even do conference calls from out laptops now and don’t even have to pick up the phone! If you’re a plumber, carpenter, or high school teacher, it is very highly unlikely for you to get a remote work arrangement for this reason. In my line of work I travel once a month on average and this will allow me to catch up with coworkers on a regular basis to ensure they know I’m still around. If work or clients don’t sponsor trips like this, it can be harder to have real life face-time with your coworkers and bosses.

Be highly rated and respected at work. Let’s face it if you’re the average worker just punching the clock, it’s less likely your boss would approve something like this. I don’t plan on my career lasting until I’m 65, so I don’t see a point in wasting my time now coasting by. I try to show that I care about work and exceed expectations. This allows me to get away with certain things that some coworkers may not. It gets me more autonomy, more paid for lunches and dinners, and apparently a six month remote work arrangement.

Convey to your boss that your performance will remain the same. Some people have a bad perception of remote work arrangements. Maybe people think you’re just going to sit on your ass all day in your pajamas and get nothing done. I actually do great work when I’m not at the office since I don’t have many distractions. I made sure to convey that my work product would not change at all. My boss did voice concern about my ability to develop those in the ranks below, but I assured that this would not be an issue.

Have a good boss or one who seems to care somewhat about your well being. I’m quite friendly with my main boss. Me working for him wasn’t exactly random. I knew I liked the guy and working on his projects, so once I had the opportunity to work for him, I made sure to do a bang-up job so that he’d keep me around and it’s definitely paid off. He’s a family man and values his time out of the office, and therefore seems to value mine as well. If I was consistently working on projects for the people who eat, sleep, and breath for working at the office, they probably wouldn’t have been as supportive. Some people think that you don’t have any control over who you report to in your career, but I’ve found out with careful planning and some effort, this can be managed to your benefit.

Get lucky! I understand this isn’t an option for everyone and realize that luck did play a role, and for that I’m very grateful.

After the fact I did some reflecting on how I actually presented this idea to my boss. In hindsight I realize I didn’t really ask permission. I had been trying to meet with him live for over a week but he was traveling, so the first thing I did when I caught him in his office was joke that I wasn’t putting in my two weeks to lighten the mood. I laid out my plan for working remotely from my girlfriend’s (he knew I was in a long distance relationship) and assured him we could make it work, that my performance would remain high, and that this was something personal I needed to do. He voiced a couple BS concerns of which I countered, and then he voiced his support. I wonder if my outcome would have been different if I walked in and asked his permission instead…

Do you work remotely? If so, how did you negotiate that arrangement? If not, what is keeping you from asking/telling your employer this is what you would like to do?

Fervent Goes West

Not to burst your bubble but I’m not financially independent and I haven’t quit working for the man to start a new exciting business. What I did do though, is attain the fabled “remote work” arrangement from my employer (for a six month period)!

I don’t delve into my personal life too much on Fervent Finance, besides my personal financial life of course, but my significant other lives in the Midwest. We have been doing the whole long distance thing for going on two years now, and it’s just getting old. We have talked about her potentially moving to NYC or perhaps us both moving to another major US city where my job has offices as well. To be blunt, I’ve had my fun in Manhattan these last two plus years and I’m ready for a change from city life. I was born and raised in a very small town in New England and kind of miss the slow pace of life. Don’t get me wrong, I’ve had a blast in Manhattan but I’d like to move away from a culture where people pride themselves on how much they work and how much cash they blow on brunches, bars, dinners, and rent. I’m ready to slow down a little and of course be closer to the ole GF.

Here are the quick details. In about a month I’ll be moving to a small city in the Midwest into a condo my girlfriend rents. I’ll still be based out of NYC for work and will travel as usual for work, but I won’t have to report to the office. Can anyone say Manhattan salary with a Midwest cost of living??? Geographic arbitrage for the win! After six months of this remote work arrangement my boss and I will sit down again. I’ll most likely try to squeeze some more time out of him, but he could ask me to report back to NYC at that time. I’m not worried about that yet, I’m going to enjoy my remote work arrangement and worry about that when the time comes. There are a ton of potential opportunities at that point which may include saying no and playing hardball, getting another job, just moving back to the NYC area, starting my own business, etc. Only time will tell.

Now let’s discuss what everyone has been waiting for – how the arrangement will affect my finances:

  1. Rent – Off the bat it appears my rent will go down by over two thirds and I’ll be living in a space that is more than twice as big as my current apartment. No surprise here, as Manhattan real estate is a tad on the highly priced side.
  2. Utilities – I’ll be moving to a bigger space and splitting utilities with one person instead of two, so this will naturally go up a little.
  3. Travel – Unfortunately I won’t have as many big airports nearby so personal travel will be more expensive. Luckily since my rent is decreasing, I will be able to recoup some of the extra potential cost of personal travel to fly back to the Northeast to see family and attend the multitude of weddings I have this year in that area. Why can’t eloping become the new hot thing to do? I kid, I kid.
  4. State income taxes – I’ll be moving to a state whose income tax rate will be less than half what I’ve been paying in NYC, and also has lower sales tax. One of the disadvantages of living in Manhattan is the NYC resident tax which is on top of NY state income tax if you live within the five boroughs. This is an additional ~3.5 percent tax on my income for the privilege of living in NYC.

I’ll definitely miss Manhattan. I’ll miss my reasonably priced gym within walking distance of my apartment, with four squat racks. I’ll miss the farmer’s market on my block with incredible produce and very reasonable prices. I’ll miss the convenience of walking everywhere and public transportation. I’ll miss three airports within an hour’s travel which made personal travel cheap. I’ll miss the overall convenience and buzz.

I won’t miss dogs doing their business anywhere they please, tourists walking four-wide on the sidewalk, staying at the office for long hours as a badge of honor, inclement weather when I need to walk somewhere, smokers blowing their pollution at my face, among other things.

I do look forward to time with the GF, more easily accessible outdoors, new adventures, slower pace to life, and of course being in a lower cost of living area.

For those wondering how I was able to convince my employer to let me do this, I’ll share that story in my next post. Hopefully it will benefit others looking to do something similar.

Who wants to help me move? Has anyone negotiated a remote work arrangement with their employer? Personally, could you go back to working at an office after working remotely for six months?

I Have Lost My Damn Mind

On April 1st I tweeted that I had lost my damn mind. No it was not an April Fool’s joke. And no I don’t think I’ve actually lost my mind. I did turn 28 years old last month, so maybe my age has something to do with it. I haven’t owned a car for over two years now, but for whatever reason I put a deposit down on a new Tesla Model 3 expected to enter production in late 2017.

Tesla was founded by Elon Musk who also is a founder of PayPal and SpaceX. I’ve always been intrigued by Mr. Musk and a couple of months ago I read his biography written by Ashlee Vance. I’ve been hooked on Mr. Musk and his companies ever since. Mr. Vance paints an intriguing picture of Mr. Musk and his abilities to do great things. Who couldn’t like a guy whose passions include green energy and colonizing Mars?

Here is a little snapshot of what sold me on putting a deposit down on the Model 3, besides the fact that it was created by Tesla and Mr. Musk:

  1. 215 mile range on a full charge
  2. Fits 5 adults comfortably
  3. $27,500 net price tag ($35,000 minus federal tax credit of $7,500)
  4. Supercharging capable (80% charge in 30 minutes at Supercharger location – and some are even powered by solar!)

Production isn’t set to begin until late 2017. I made my reservation about eight hours after the deposit window opened, so there is a good chance I wouldn’t receive mine until 2018, which is two years away. This gives me a LONG time to decide if I want to ask Elon for my money back (my $1,000 dollar deposit is fully refundable anytime before I sign a purchase agreement). In all honesty I’ll probably let him hold onto it for a while, and then by the end of 2017, I will either ask for it back or actually go through with it (only if for some reason my net worth is WAY past my goals).

I think its fun to dream. Who didn’t want to be an astronaut when they were a kid? It’s great to see people like Elon Musk still living out those dreams well into their 40’s (and probably for the rest of his life since i don’t see him stopping anytime soon. I believe Elon Musk (along with others like Amazon found Jeff Bezos) are exactly the type of entrepreneurs we love in America. Always pushing the envelope and trying to make the world better places. Hopefully I’ll be able to help in someway, even if it is by just buying a car.

Did you hand Elon $1,000 for a deposit on a Model 3? Have I gone bat shit crazy for even considering a $35,000 car?

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