Looking for advice on going back to school/career change at 41.

[fngTony]

It’s a loaded question so any advice or experiences are welcome. I know it’s time for a change but I don’t know many who went this route around this age. Also I’m looking at a cost of $33k and honestly I have no idea how to value that.
***edit to add more detail****
For the last 19 years I’ve been replacing autoglass. Driving around Denver to perform cosmetic surgery on your car in your driveway. Weather, traffic can be tough to deal with, the industry pay and benefits have not kept up with inflation especially in an expensive city. While there is some potential increase of income it would require a passion that I no longer have.
After a lot of consideration I decided to get into some side of IT work. With the idea that I can work later in life if needed or potentially earn enough to retire more comfortably.

 

[thinhorn_AK]

What career field are you leaving and what career do you plan on starting?

 

[Jimbob]

I think being happy is important, sometimes a career change is just the ticket and other times it's not. For some people, they are happy that they have a job that meets their financial needs and for other people, they are happy to have a fulfilling job.

Why do you want to try a new career?

Are you good at your career right now? do you have a sense of accomplishment when performing your job? does your personality traits match your career? If yes to those then maybe a career change is not needed. maybe just find a new employer or move to a new area?

 

[wyosteve]

I did a similar career switch, but I was much younger, i.e. mid-20's. I had almost 5 years in to the previous career when I decided to go back to graduate school for a different career. What I did was factor in the cost of schooling (in your case it sounds like that's $33k). I then added in the loss of 3 years income (I could work part-time while in school, but not full time). Then I took the total of those 2 numbers and using the assumed increase in salary in the new career, figured out how long it would be to reach the break even point, knowing after that I would be money ahead in the new career. I came up with about 8 yrs. after I graduated was when I reached the break even point. So, it took 11 years from when I started back to school before I saw a financial benefit. In my case it was well worth it because I was only mid-30's when I 'gained ground' so to speak. Hope that makes sense. Recognize that this was just a straight financial analysis for me. If you don't like your current career or the financial rewards won't exist in the new career, my example won't apply. Good luck in whatever you decide.

 

[KBC]

I did it at 30. I was a cabinet maker for almost 10 years making shitty money working for shitty people. That was 10 years ago. I always struggled in school growing up, more because I was a punk not due to smarts. That still made it pretty scary to go back with doubts in the back of my mind about how I would do.
It was the best decision of my life. I worked hard and finished top of my class.
10 years later I make more than double as a helicopter mechanic plus pension and good benefits. Plus I enjoy most of the aspects of my job (ok the wrenching is fun but I could do with a bit less paperwork haha) I’m way more fulfilled in my life now. Not bad for a high school drop out...
Do what you think is best!

 

[Mike Islander]

My buddy got his engineering degree at 45 and says it was one of the best things he ever did.

Cost can vary dramatically. The school is not nearly as important as the degree in the long run, for most schools and disciplines.

 

[brsnow]

You can also get an entry level job and many companies pay for education and training.

 

[307]

You want advice but give nearly zero information necessary to evaluate the situation in order to formulate said advice?

Based on what I know, I'd say it's a bad idea.

 

[ChromeKype]

I did it at 29 so not as far along, but I was in manufacturing operations/ lean six sigma for 6 years and hated life. I hated going into the same plant every day and working on the same project with the same people. I thought it was the company I didn’t like so I jumped ship to another company and hated it there too. Granted I worked hard and didn’t wear my emotions around but I wasn’t pleasant at home. I made decent money but I wanted out.

I took 3 different personality/ behavior assessments to see if I could find some guidance that way, I took Meyers Briggs, RightPath, and Culture Index.

Meyers Briggs was the best and most helpful, RightPath was good, but Culture Index was awful.

I’d start with Meyers Briggs, it’s incredibly helpful with dialing in the things you’d find fulfilling in a career. You can take a Meyers Briggs “lite” test for free at 16personalities.com. This is probably one of the most valuable little sites on the internet in my opinion.

I jumped ship after getting some solid insights on how I’m wired, took a huge paycut and went into sales. Started fresh at the bottom in inside sales, but worked my way up and am now an Outside Sales Specialist at an F500 making double what I made 3 years ago. It’s not an easy gig, but I love it, and it’s a much better fit.

Know thyself.


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[Jtelarkin08]

I went to line school at 35 and got hired on at the coop as an apprentice lineman. Pay isn’t great the first few years but will be worth it by the time I’m 40


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[FLAK]

In the same boat but at 54 y/o. Too old to start over, too young to retire.
Just gonna count my blessings and coast from here on out.
My only career aspiration is retirement.

 

[willtim]

I changed careers and went back to school. Best decision I ever made. That was 30 years ago.

 

[fngTony]

I think being happy is important, sometimes a career change is just the ticket and other times it's not. For some people, they are happy that they have a job that meets their financial needs and for other people, they are happy to have a fulfilling job.

Why do you want to try a new career?

Are you good at your career right now? do you have a sense of accomplishment when performing your job? does your personality traits match your career? If yes to those then maybe a career change is not needed. maybe just find a new employer or move to a new area?

Great questions! Long story short I don’t hate my job, I’m good at it, some sense of accomplishment. I want something that could be done remotely and not weather dependent. A desk job vs a physical trade.

 

[fngTony]

You want advice but give nearly zero information necessary to evaluate the situation in order to formulate said advice?

Based on what I know, I'd say it's a bad idea.

Would you prefer I ask about a honey hole Fair point, I was waiting for questions to be asked vs writing a book, also got busy right after making the post so slow to respond.

 

[Rob5589]

Purely from a financial standpoint, I'd have to be able to make about 60k a year to pay 33k in training. I would want that student debt gone in 2 years or less. Plus factor in what you'll potentially lose during the training.

 

[Bubblehide]

I was doing Construction for years, but was dissatisfied with not being able to move up the ladder without a degree. I started with taking night classes for 2 years. Then, at 36, I quit work to go to school full time. I completed a minimum of 16 units per semester, completing my degree and going straight into graduate school. I completed a joint program (2 seperate degrees combined into a single program). I now work as a school psychologist. It was the best thing I ever did for myself, and yes, I love my job. I literally lived off of student loans, barely. So I graduated with substantial student loan debt. But, it was worth it, to me.

By the way, when I started fulltime in school, I thought I was going to go into engineering. In school, fairly early, due to me tutoring in the disabled students department and consulting with the psychologist there, I refocused on school psychology. My point here is to not be afraid to change directions if you find something you enjoy while in school. If you have a way to support yourself and your family, if you have one, then I say go for it.

 

[Fatcamp]

LOL. Graduated last December at 49 with my BSN.
Ya, about that whole pandemic thing.

No regrets. Did construction for decades. Not recommending it at all. If it wasn't on your radar my experience shouldn't away you in that direction. It was something I had wanted to do for a long time.

My advice would be sure you are headed towards something that has an actual paycheck at the end of it. Many don't, and end up regretting change.

 

[fngTony]

Purely from a financial standpoint, I'd have to be able to make about 60k a year to pay 33k in training. I would want that student debt gone in 2 years or less. Plus factor in what you'll potentially lose during the training.

Excellent points, I’ve been running those numbers and it looks good for me.

 

[thinhorn_AK]

Is it possible to work on a masters degree in a new field while working your current job? That’s what I did, completed the masters degree debt free and landed a much better gig right off the bat, more desirable work, higher salary, better location.

 

[roadrunner]

I'm 46 and in grad school right now prepping for what may be a 2nd (or maybe 3rd?) career.

It's never too late to switch things up.

The cost of an education is a sunk cost you cannot recover as it is money spent without a tangible return whether you use it or not and may never "recover" the cost with normal life in the way upon completion. The payout is going forward with the increase in earnings, lifestyle, and ultimately a retirement portfolio.

In Economics, true cost is any foregone opportunity. Ask yourself, what is the true cost of an education...?