The Challenges and Benefits of a Reduced Hour Work Week

Written by Brian Carlton

Call it a “phased retirement,” “wind down,” “part-time” or anything you want, but you are probably aware that I am now working reduced hours at HSC Wealth Advisors. To be exact, my schedule is Tuesday through Thursday, 8:30 to 5:00. I requested this adjusted work week and I’m glad I did! My gracious partners, Rick Huff, Joel Bengds, Justin Victor and Joe Eskridge are encouraging me in this plan and I cannot thank them enough. Through this transition, I am selling my partnership in the business to these four individuals and am concentrating on client interface during my three days in the office. This is the area I have always loved and it keeps me happy, stimulated and wanting to continue working. There are a number of administrative duties I have given over to younger partners and this is working out well for all involved. Over the years we have intentionally made efforts to fine-tune our processes in order to maximize time with clients as we work together toward their goal attainment.

The evolution of HSC Wealth Advisors has been astounding to me. When I think back on the day I joined the firm, January 1, 2000, I was wondering if we would still be in business due to the alarm of the world’s computers crashing and burning during the Y2K phenomena! This didn’t happen, as you all know. The advances of technology have made us more productive and better equipped to ensure that client questions and opportunities are addressed timely and nothing “falls through the cracks”. In the past few years we have made judicious use of ETFs (Exchange Traded Funds) in client and our own portfolios. ETFs are similar to mutual funds but with much lower management expenses than a typical mutual fund. The result is less cost to our clients which makes us all happy. I have every faith that this standard of care, innovation and attention to client details will continue to be the heart of HSC Wealth Advisors.

So, you may ask – why did I request reduced hours? It is no secret that each of us here has a financial plan just as you do! For the past two decades, I have been applying the same advice to my own life that I have been giving to my clients. My plan is and always has been to help people make great financial decisions, live frugally, save/invest and be able to do what I want in my early 60’s. Folks, I am there! My wife and I have been contributing the maximum to our retirement plans and our Roth IRAs each year. This has not been easy, but as you can surmise by the fact that I am writing this article it has proven to be successful. We have aggressively paid off debts, including our mortgage, by making the choice to be very intentional with each dollar we earn. In fact, when I married my wife, Liz, one of my vows was to “live below my means” and, by golly, it has worked. These financial principles produce results; that’s why I love what I do. I now have the joy of working with clients three days a week, while the other four days are reserved for traveling, serving others, early morning runs and reading good books! How long can I keep this up? A few more years…who is to say?

My motto has always been Carpe Diem – Seize the Day! I will continue to apply this enthusiasm fully to my work and to my play and move onward and upward with HSC Wealth Advisors.