How late it too late to totally change careers? Who's done it (w/o being $$-secure already)?

[hawkman71]

I think it was a thread I saw on Rokslide about "what we do for a living/what funds the hunting" that made me think about posting this here. Not sure if this is complicated or if it's a common situation - probably more so than I realize.

I know we barely know each other - what is this, maybe my 2nd post but I thought I'd ask.

• 50yo.
• Ph.D. in Agronomy but have worked in the field and research a lot. Actually did the grad school on the side. Not an ivory tower guy. (Getting a Ph.D. is more a sign of perseverance than intelligence, imho).
• Worked Saturdays and summers from 12yo to adulthood working my ass off in greenhouses, construction, and farming, etc.
• Varied interests - I feel I could do anything, work in many fields.
• Point is - not scared of working with my hands.
• 
  
• Married with 4 kids. One grown, one in college, and two in middle school.
• Wife is a teacher but makes little money at a small, rural Christian school.
• I worked for the state for 19 years making poor money but wasn't aware of what was "out there".
• Frugal but not much to show for it after 25 years.
• Doubled my salary by going to the private industry and thought "I'm finally there".
• ...but 19 years of struggle means you are behind.
• Saving for a better house, one my wife could be proud of. (She's LOW maintenance but the tiny, old p.o.s. we gutted, remodeled, and have lived in with four kids isn't the one to expand with. We had 3 girls and a boy with only two bedrooms for the four of them. Hey she/we would like kids and their families to come visit someday!)
• 
  
• I look around and see what other people are driving (new Tahoes, building homes, or barns/mancaves; vacations, etc) and I'm blown away.
• What do these people DO for a living?
• Sure, maybe some of them have inherited money or received help from parents, etc., but I don't just assume that nor critique anyone for that. I assume they have worked hard and earned it.
• I work for a retailer of agronomic inputs (seed, fertilizer, chemical) but am not a salesman. Not a position in the company that is rewarded with incentives. (The age-old mentality is we sell stuff. The service side of the business is hard to understand even though service increases sales).

Yet, I know I'm blessed and wealthy compared to so many people. I also have the blessing of a wonderful family and good health and I'm thankful to God for that.

I'll cut to the chase. I feel I'm too chicken to go on my own and start a business (probably b/c I've had five mouths depending on me plus my own) Maybe I shouldn't feel that way.

Have any of you felt lost at this stage of your life, maybe filled with regret, and then made a change that yielded dividends, either financially, personal wellbeing, or family-wise, or all of the above? I may have come across as being a crybaby. I hope not. Just in a bit of a slump mentally.

hawkman.

 

[Marbles]

I cannot really help as I'm only 33 making my carrier changes quite different (Navy intel to civilian RN and now to NP).

I will say, many people driving new vehicles with fancy houses are deep in debt, so be careful judging based on those observations.

Sounds like you are doing better than many people, if comparing with others you must look at the bottom as well as the top to get a fare perspective of where you stand.

Good luck.

 

[Drenalin]

I have no real experience or wisdom to share - I’m at a different stage career and family wise. My dad always worked his tail off so we’d have what we needed. Usually not much more than we needed, sometimes a little less than that. I always admired how he just gutted it out, did what needed to be done for his family. I also always wished he didn’t have to. I guess the point of my post is make your decisions with faith and family in mind as your highest callings, and let the rest sort itself out. Good luck in whatever you do!

 

[Wrench]

You sound like you could kill it as a crop adjuster for an insurance company.

 

[Bland316]

I'm a financial planner. I busted my ass my first 5 years of my career. Pretty much no life, but I don't have to work very hard now. I'm 45 and was a cop prior to being a financial planner. I switched at 40. I will make more money this year than I did my last 4 years as a cop. It can be done, it just takes dedication and hard work. And to answer your question, it's never to late to switch careers

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[bowieknife50]

I switched direction while I was still fairly young, had no kids, and my wife not only would follow me anywhere but waitress or whatever when we got there. When I switched it took me a year to decide but I made sure my new path had a bright financial future. I started working for someone else at first but I own that business now, which has its ups and downs. Now that I have kids that depend on me I would be WAY more hesitant to switch tracks, especially if I was just starting my own new business. Consistently getting by with enough is much better than having no idea if we will have enough. That said it is 100% an employee's market right now. Most anybody I know that owns a business is basically hiring anybody with 2 hands and a heartbeat. Start searching and applying for jobs until you find one that betters your situation. If you get a new gig and can't stand it repeat the process. If you want to work there are a million opportunities right now. Go get one.

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[TreeStandAthlete]

My dad took an early retirement from his career in his mid-50's and took a position teaching related classes at the State University at less than full-time (still got full benefits). He took a huge pay cut but had just piles of free time and he's loved it so far. If you're looking for fulfillment or more time off I thinks it's going to be a lot easier to pull off than if you want a bigger check.

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[ThisIsMyHandle]

Is there a specific career you’re interested in pursuing or are you just floating a random idea in your head?


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[pyrotechnic]

As far as your specifics, only you can make those choices for you.

I reccomend reading "Range: Why generalists thrive in a specialized world" by David Epstein. I'm in my 30s, and single, so a bit different situation than you, but reading it helped me feel alot better about a recent career change, and other potential direction changes in the future.

ETA: as far as keeping up with the Jones's goes, I think that is one of the number one ways that people end up trapped in jobs that make them miserable but can't leave due to having dug a financial hole.

 

[eddielasvegas]

Here's my limited free advice and you know what they say: it's usually worth what you pay for it.

You may not live in a house that makes you or your wife especially proud, but who cares? And if you both do, get over it.

Your kids are close to being out of the house so your house needs will decrease a lot over the next 4-5 years so don't consider a new home purchase, especially in this market.

Work on reducing your debt, building up your 401k (or the like) and your cash reserves all with the goal of financial independence as you both get closer to retirement age.

Good luck and keep us posted.


Eddie

 

[Dos Perros]

@hawkman71 don’t worry about other folks. Comparison is the thief of happiness.

My family does well yet we are frugal and save and look around at others and think the same things you do. I must assume: those people, many of them, are living outside their means, financing everything, and they’re going to have to work until they’re dead.

 

[MJB]

Get paid by the effort not by the hour.

If nothing is sold.....nothing gets made and nobody gets paid!

I started over after owning a business for over 35 yrs. When all the manufacturing moved out and computers took over paper files. 35 families I helped to feed through the years were let go.....

So I started in a new field that I had worked in when I was young. It went well working for someone else until the owner had the idea he knew more than the industry.....his pricing and lead time when up and my clients went elsewhere. At the same time he was having a midlife crisis and just being a dick at work and starting fights with all the employees.
He eventually f***** up enough we all started to quit.
Me and another guy decided to start a new company during the middle of a pandemic in the same field and kick his ass!
We now have a crew that's been together for over 15 years. They are Happy to work for me and my partner.
And our former employer is hurting badly......Karma's a bitch Carlo!

 

[.204smokechaser]

Hey bud, don’t compare yourself and families to other. Right now, I’ve noticed more than ever in my life as a young man (23 years younger than you), that find a job that makes you happy and ask your network of friends what they see in you. Don’t be afraid to reach out for advice in your friend group and connect with similar people.

I’m 27, obtained my BS at 25 as I had one goal growing up-live within your means and earn it. I’ve never been in debt outside of having a truck loan for 6 months so I could build credit. No student loan debt that many millennials bitch about every day twice a day. No crying because I’m not making enough money. It’s called life and choose the career you want.

I’m in my hometown for a bit and seen 8 people that I grew up with. Only 2 don’t have debt (outside of a mortgage). Others I know have anywhere from 40-140k of debt driving new trucks have a camper trailer, utv, brand new hunting gear, utility trailers, kids etc. and make less than means I work 7 months a year at my regular job

Do what makes you happy, debt ain’t the answer and saving for your later years is.

 

[PNW bow hunter]

The way I read your situation is that you and your wife BOTH have low paying jobs in the lines of work your in.

Money isn’t everything, but it sounds like you both are feeling unfulfilled by what you have achieved financially after decades of work in your respective fields.

If both of you got higher paying jobs in the fields your already in, that would change your financial picture drastically. Each of you bump your income up $15k to higher paying jobs in your current lines of work. With another $30,000 per year of household income you can easily have the things you want. That extra annual income over the remainder of your respective careers could also make a huge difference in your financial picture in retirement depending on what you did with the money.

 

[grfox92]

I will say, many people driving new vehicles with fancy houses are deep in debt, so be careful judging based on those observations.

This. I drive around town and look at everyone driving $60k brand new diesels. I'm positive that more then half of them don't need them and can not afford them.

I drive around in a 98 F150 with roll up windows and 240k miles, but I'm about to build my house in cash and have no mortgage. Success means very different things for many people.

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[kfili]

I switched last August, 30 years old 2 kids left teaching for a commission only job. No degree required just had to get licensed. First 6 months were tough, had to dip into savings. But as I'm nearing the end of my first calender year I've nearly tripled my income. Lotta work, and stress- but I'd rather stress about making money then not being able to make money. I'm in mortgages- shoot me a pm of can offer any other help!
Also I absolutely love what I do!

 

[Elk97]

I don't know what part of the country you live in but in general there is a severe shortage of employees. From starting positions to professional jobs. I just read an article about a trucking company in TX that is paying $14,000/week! Have you explored job openings in your area that you would qualify for, even if it involved training before you started making a good salary. You might be surprised what companies are paying these days if you have been out of the job market for awhile. You sound like you have the intelligence and determination so you could do almost anything (and your PHD would look great on a resume). Good luck to you.

 

[Blackstorm]

I did what you are proposing but it was part of a long range plan that I worked for many years.
I left my utilty management job at the top of the pay an benefit scale and taught college for a year. I knew I wanted to do something on a part time basis that pays well but has some mental challenges to it. With a contact from my utility days who is now a partner and friend I am designing and redeveloping large industrial spaces into automated warehousing for the supply chain businesses. We have done or are in the process of doing over 2.2 million sq ft as of today in our small market of Central New York.
My keys to be able to do this was to live a very structured life well under our means but still very comfortable, we currently have 4 homes in three states and I have the pleasure of hunting over 50 days a year. I am picking up my paid for truck on Monday for my next hunt in Colorado in the 4th season. A PHD is a very hard thing to earn and I know what you did to earn it and I applaud your effort. I have a few masters degrees that I did at night and I know what I had to do. What I suggest you do is lay out exactly where you want to be in a time frame of 5 years. It should have some specificity of pay and actual work whether it is for someone or yourself and then work a plan on the things that you need to get/acquire to achieve your goal.

 

[ChrisInAK]

• What do these people DO for a living?

Some of those people are one paycheck away from being homeless or losing a lot. There is comfort in not having the latest and greatest. I’ve leaned to be happy with what I need, not be down about what I want.

I have thought about a career change but then quickly realized it means more schooling/training for probably less pay. I enjoy what I’m doing now for the most part so I’ll stick to it and grow. A job to me just affords opportunity to live comfortably. To me it’s 8 hour chunk of day taken away for more happiness outside of it.

 

[Ashy Larry]

I did it.
I was 32, first child just born and working for a National wastewater management company. I had a company truck, loose schedule and medium-low salary $47k. Wife is a teacher and we lived ok, never behind, but never could get ahead. I knew with my shitball company no matter what I did I wasn’t going to see more than 3% a year if lucky. I went to night school, got a license in a new field and worked two jobs for a year. Once I felt like I had enough business to warrant making the leap, I quit that terrible company and went full time In a 100% commission position. Because I was my own boss, I was more motivated to work hard and long hours. It’s been very rewarding for me and I really feel like my career is where I’m supposed to be. I’ve made more money in the last two years full time than I would make in 4-5 at my old job.