Life change

[GerryS]

Has anyone here made a voluntary life career change in your mid 40s?

I don't want to do what I do any more. I'm done....my other career choices either are entrepreneurial and risky, or pay about 1/4 of what I make now....at least initially. I can't keep this BS up any more

[Roo Dog]

Gerry,

I wish I had done so in my mid 40s.
Mid 50s for me.

Take it easy.

RD

[GerryS]

Roo, I wish some one said that to me 10 years ago

[PKCSPT]

I am in the same spot as you, 47 and over my current job. I just can't decide what I want to be when I grow up.
Just being grateful I have a job.

[Roo Dog]

Gerry,

A passage often quoted from the Bard.

'Our doubts are traitors,
And makes us lose the good we oft might win,
By fearing to attempt.'

Measure for Measure
Willy the Shake.

Take it easy.

SD

[GerryS]

Alas, poor roo dog! I know him well!

The sad part is, I love what I do. I have a great team and an awesome boss. I'm feel like I've just started reaching that dilbert principal, and I see it. My job has changed just enough that I'm now leaving work stressed out. I'm at IT geek, who is compensated well.

I've got options...

1) I'm a licensed barber. Definitely a low stress job, definitely a people job. But the money isn't great. Starting probably 25K, after building a clientele and getting faster and better at my craft, better pay. Possibly opening an independent tonsorial parlor. There is a shortage of people in this trade, and those entering it are either cosmetologists working at great clips or one of those strip mall shops, or going inner city urban.

I can do this three ways
A). Cold open a shop....new place. I'd need an experienced man in the chair next to me. Hard to find.

B). Work for a local franchise. They pay a base salary plus commission. I'd get experience, but wouldn't be able to take a client base with me. Mostly because I'd spend my savings during that time and your talking $22 foot rent plus build out to compete. I'd burn my war chest before I got to the battle field.

C). Rent a chair at a shop (if I can find one) with no guarantee and no clients. If you have ever seen the movie "barber shop". I'd be the white guy . If you haven't seen it, do so. It's actually a great representation of how a place works! I kept looking for hidden cameras when I was in school....

2) interested in opening a donut, or pizza shop, or a Chicago beef shop. Think portillos All are profitable, moderate startup and generally in demand. I've got experience as a concession stand owner, I have some idea how food service works. I know too the failure rate....I've got enough cash to buy the equipment, but not to do a full build out....essentially to do what you need to do, but to do it right, I'm undercapitalized and going into debt isn't an option.

3). Stay where I am, although I expect my current employer to restructure or outsource much of what I do....probably in 5years leaving me at 50 in a job market dominated by 22 year olds coming out of school with higher energy and desire to work 90 hours a week, for less money than I make. This is the key motivator along with the general stress previously mentioned.

The way I see it, I'm in for a screwing if I don't change something. The #2 option is a good bet, but the odds aren't good. #1 has better odds if I can survive the first few years.

[PaulC]

Gerry, I wasn't able to do the change in my 40's due to a marriage breakdown, six years single and playing and then I met my current wife. Married, reestablished my business and, after sixteen years and at 59, decided enough was enough. Sold up. Moved to the country, Mid North South Australia, and are now living by our wits and a small nest egg.
My advice to you, young man, is if the urge is there then go for it. Weigh it up yourself and take the step.
Cheers
Paul

[Roo Dog]

Gerry,
When I did it at age 55 I just walked out, very little thought to the decision, just reached the had enough point. I had been on call 24/7 for so many years it had become part of my life to the point I thought it was normal.
Similar to Paul, except I retired to the coast, I kept working after a fashion. Quitting the rat race was the best thing I ever did. Should have done it earlier.
I agree with Paul's tag. Time is the only real capital one has.

Take it easy.

RD

[Alleged User]

I'm in a similar boat as many of you. I took a job in HR for a bank about 15 years ago simply because it paid more. Years later, I'm still in HR, now with another bank. HR is not exactly a passion of mine. Trouble now is, all of my pertinent experience is in HR, so those are the jobs I qualify for and can make a decent salary with. I'm just burned out on HR.

I'm fortunate to have a good job with a comfortable salary. I feel like it's asking too much to also want a job that I actually like.

I admire anyone who makes a career change after 40 to follow their heart or to feed their soul.

P.S. I'm dying to get a vanity license plate that reads, 'SICKDAY'. I think the employees who know me would get a kick out of it...my boss, not so much.

[Oldragbaggers]

My husband left the military at age 43 due to a big shift in the political climate that made military life less bearable. After a couple of years "trying other things" he went back to school and got a master's in special education (graduated at age 48) and started a whole new career. Prior to that all he had ever done was military and police. His "new" career has been very rewarding and it was a very good decision. Best of luck to you Gerry. It's never too late to shake things up a bit.

[jonw]

I too was in high tech, and in my 40s thought about doing something else with my life. At the time I couldn't just walk away from the pay due to commitments (child support, etc.) so I just started a second concurrent career in music. Learned the biz and taught myself to play the hammered dulcimer while I continued working. Having a passion outside of work made work a lot more tolerable and kept it in perspective.

A couple of layoffs later I somewhat orchestrated myself to be laid off in my 60s so I could get a "package" and I just walked away from the 9-to-5 and decided to retire and do music full time. I'm not making as much money by a long shot, but I'm having a better time and don't miss the money at all. I've scaled way back on what I need to live on and I don't buy superfluous things anymore. I'm having a wonderful time working on projects I want to work on and being able to set my own deadlines and priorities.

[eamarquardt]

Alas, poor roo dog! I know him well!

The sad part is, I love what I do. I have a great team and an awesome boss. Why would you want to leave this part of the "equation". I'm feel like I've just started reaching that dilbert principal, and I see it. Choose to ignore it and do the best you can. My job has changed just enough that I'm now leaving work stressed out. Take some stress management classes. We all have "demons", mostly of our own making. Learn to manage them. I'm at IT geek, who is compensated well. Take the money and run!!!!!!!!! The main objective of working is to make money. Make as much as you can while you can. As others have suggested "self actualize" on your own time away from the job.

I've got options...

1) I'm a licensed barber. Definitely a low stress job, definitely a people job. But the money isn't great. Starting probably 25K, after building a clientele and getting faster and better at my craft, better pay. Possibly opening an independent tonsorial parlor. There is a shortage of people in this trade, and those entering it are either cosmetologists working at great clips or one of those strip mall shops, or going inner city urban. I would go crazy(ier) in a job where a lot of my time was spent waiting for my next customer. You can execute this plan at any point in time. Delay taking this pay cut.

I can do this three ways
A). Cold open a shop....new place. I'd need an experienced man in the chair next to me. Hard to find. Learn the ropes first.

B). Work for a local franchise. They pay a base salary plus commission. I'd get experience, but wouldn't be able to take a client base with me. Mostly because I'd spend my savings during that time and your talking $22 foot rent plus build out to compete. I'd burn my war chest before I got to the battle field. You need a bigger war chest. The longer you continue at your current job, the bigger your war chest will become.

C). Rent a chair at a shop (if I can find one) with no guarantee and no clients. If you have ever seen the movie "barber shop". I'd be the white guy . If you haven't seen it, do so. It's actually a great representation of how a place works! I kept looking for hidden cameras when I was in school.... Again, a huge compromise.

2) interested in opening a donut, or pizza shop, or a Chicago beef shop. Think portillos All are profitable, moderate startup and generally in demand. I've got experience as a concession stand owner, I have some idea how food service works. I know too the failure rate....I've got enough cash to buy the equipment, but not to do a full build out....essentially to do what you need to do, but to do it right, I'm undercapitalized and going into debt isn't an option. The longer you work at your current job the more money you can sock away, get your act together, and be poised for action when you need to jump. Possibly get a part time job and learn the ropes NOW while you're working. Assuming you don't put a lot of overtime in, you won't be working any more hours that if you start your own business now. If you plan on running your own business in 40 hours a week you're dreaming the impossible dream.

3). Stay where I am, although I expect my current employer to restructure or outsource much of what I do....probably in 5years leaving me at 50 in a job market dominated by 22 year olds coming out of school with higher energy and desire to work 90 hours a week, for less money than I make. This is the key motivator along with the general stress previously mentioned. If you plan ahead you'll be ready when the time comes. The more money and experience (that you can gain by working part time in your field(s) of choice) when you set out on your own, the better.

The way I see it, I'm in for a screwing if I don't change something. The #2 option is a good bet, but the odds aren't good. #1 has better odds if I can survive the first few years. The more you have socked away the easier it will be to survive the lean times. If you work part time in a donut or pizza shop before you set out on your own you'll have a real advantage over starting out cold.

It seems to me that you can make a planned transition rather than leaping now. The more options you have the better. Get some counseling to deal with the stress and plan for the worst while socking away as much money and gaining as much hands on experience as you can BEFORE you have to rely on that experience to eat.

Proper Prior Planning Prevents Piss Poor Performance. PPPPPPP!

By all means follow your dreams but do so in a informed, organized, and thoughtful manner.

Good luck,

Gus

[Woodbutcher]

I may not be the best one to answer this because I have always been self employed. This sounds great, to most people that have never done it. While you do get to make "most" of your own decisions, you are still prisoner to the bank, your customers and your employees. The first 15 years in business I had to pledge my home and most of what I had to secure a loan. That is stress. You fail, you lose your place to sleep. I fail, my employees go get another job.
Once over the hump, things got easier. But just because you are your own boss does not mean you have the world by the tail. I worked 60-70 hours a week for most of my adult life. Did not have the vacations most take until late in my career. Was it worth it?
Sure, looking back it was. I am now just coasting to the finish line, humming Frank Sinatra's , My Way!

So Gerry, you have gotten some great advise so far. If you want to work for yourself, then do it. But be aware of the risks and minimize them where you can. If IT makes you the most money and you enjoy that work and level of pay, maybe that is where you start. Start your own IT company and work from home. My neighbor does that. His real job is a facility manager at a large church. He hates that job but loves the side work, and that keeps him satisfied.

You could always do the Barber thing but according to my Barber (1 person shop) she can not find or keep another person in the second chair. They do not have their own clients so they only get the spill over from the owner. Not enough to live on I guess. You could always work as a Barber a few days a week while getting an IT business going.

Food service is tough. If I was to try and break into that market I would find a part time job in it to learn what I could first. But make a long term plan. Save as much as you can as others have said. Just having a light at the end of the tunnel will make your current situation more bearable.


Good luck, in what ever way you go!

[High Desert]

I find this thread highly interesting. Please continue!

[digimark]

It's too bad the OP doesn't live near me in Maryland. I'm an IT guy like him who had my own company for 15+ years going through the same problem -- 48 y.o. and needing to make a change. Thing is, I know what I want to do -- something in the area of disaster-proofing against loss of old photos and video/film by scanning/transcoding them to a thumb drive. You always see after tornadoes how homeowners lament their lost memories. I just need a partner to motivate me and share the work...plus some marketing money would be useful.