Looking for some courage/advice on leaving a job for a 40k pay cut per year?

[Elite]

Money has bought me happiness many many many times.

No one can answer your question but you. Good luck! I love my kids but I also like money. Find the balance that works for you.

What kind of happiness does money buy you ? It seems the older I get having the nicest truck or boat doesn’t appeal to me any more vs time to enjoy life and the stuff I purchase


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[45-70govt]

I stayed working shift work (mostly 7x7 straight days now) out of town so my wife had the opportunity to stay home full time with the kids. More than used to being away half the time, and in ideal world i wouldnt have to, but taking the sacrifice so both parents didnt have to work has worked out well.
If you think you can make this work financially sounds like its a done deal to me. Keep costs down, drive old gear and spend more time with the family

 

[Spoonbill]

The last several years I have worked my way up to a relatively high paying job but the 13 hour days and rotating night shifts have destroyed my personal life and energy when I am off work.

We also just recently had our first child and it’s making it that much more difficult now,

So am I crazy to look into a job with shorter days and no night shifts and home more often for roughly a 40k before tax pay cut?

I know a pay cut and a different job is a risk but we have lived well below our income and have saved the extra income for the last several years and are in a good position financially with investments and on track for retirement with not saving much more money then what’s in there now.

Spending more quality time with the child seems a lot more pleasing then big pay cheques now.

Just don’t want to make the wrong choice and regret it down the road


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Sounds like you are ready to leave your job except the money has you hung up, which makes sense considering its not a small amount.
I have friends from grad school who are looking at lower paying jobs to be able to spend more time with their kids, a few of them have done the math to make sure it works. As long as you can make the money work, I say go for it.

 

[Elite]

money buys me the TIME to be in the mountains. The mountains bring me lots of happiness.

Time with your family is nice but not if you can’t go do shit. Make money 24/7.

I 100% agree with using money to buy time

 

[OKHunter84]

I'm in a similar situation and about to take a pay cut (not 40k but a little) to have a life again. My boys are 9 and 5 and I've been around more for the younger one and you can tell. Kids need their Dad around.

I've watched my Dad live with regret about everything he missed out on when my sisters and I were growing up. He'll just randomly apologize for not making any wrestling matches when we're on a trip together. It's really sad. Also dealing with the after effects of his divorce from my mother after 24 years of marriage, mostly due to the fact he was never there and when he was, he was stressed about work. It doesn't seem like it was worth it. He made a lot of money and retired comfortably but I know he'd do things differently if he had it to do over again.

Talk to some older guys and they'll tell you not to chase money at the detriment of your family time, I'd be willing to bet.

 

[HuntHarder]

It’s not a 70-30k. It’s definitely higher then that. I do agree that the separation makes a large difference. Just didn’t want to post income


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The dollar amount is not nearly as important as the % amount. Same goes with anything in life.

 

[180ls1]

What kind of happiness does money buy you ? It seems the older I get having the nicest truck or boat doesn’t appeal to me any more vs time to enjoy life and the stuff I purchase


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Financial advisor here.

Starting out, people usually pursue wealth, only to find find its overrated. Then they pursue free time. *After* time they generally pursue meaning.

I'd see what you can do to move laterally and hang on to that income. Big incomes can buy a lot of freedom and its easier to keep than to build back, should you need it.

 

[BravoNovember]

Just took a $15k cut last year, not so much for time (though I did get additional PTO) but for happiness. Sometimes I miss the money, but overall I’m way happier.

 

[RS_Non-Res]

+1 @180ls1 ^^^^^

Glass is not half empty, is not half full.
Glass is the wrong size.

 

[Cleriger]

I was an executive headhunter for 9 years in the finance and accounting space. Execs changed jobs all the time for better WLB. Money ain’t everything. Don’t make a change just to make a change though. Make sure there’s a compelling reason for the job change other than just fewer hours for the next role. Or you may find yourself looking again. Good luck!

 

[Wolverine]

Time is the most valuable thing. If you can pay the bills and have a little fun with the pay cut, go for it. Growing up, my dad had to work 2 jobs to make ends meet. As a kid, I would have given anything to have my dad at home more. More money isn't always the best answer for family.

 

[isItFallYet]

The last several years I have worked my way up to a relatively high paying job but the 13 hour days and rotating night shifts have destroyed my personal life and energy when I am off work.

We also just recently had our first child and it’s making it that much more difficult now,

So am I crazy to look into a job with shorter days and no night shifts and home more often for roughly a 40k before tax pay cut?

I know a pay cut and a different job is a risk but we have lived well below our income and have saved the extra income for the last several years and are in a good position financially with investments and on track for retirement with not saving much more money then what’s in there now.

Spending more quality time with the child seems a lot more pleasing then big pay cheques now.

Just don’t want to make the wrong choice and regret it down the road


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You’ll never get the time back. I contracted overseas for a few years after the military. I thought I was doing the right thing by absorbing money for a nice house, college funds, etc. If I could do it again, I would have stayed home and spent more time with my kids.

 

[Marbles]

Post tax it is more like a 30k pay cut. If you can live on 30k less take home a year, then do it. If you have to downsize your house and vehicles to do it, I would still consider it. Being tired when you get home sucks the energy needed to interact well with a kid. Rotating night shifts will not only take time from you today, but will likely shorten your life (based on current data).

Of course, make sure your wife is on board. I would draw up a budget and trying living on it for a month our two if you have the time.

I say go for it, but I also proposed to my wife the 3rd time I ever saw her in person and my first time in Alaska was stepping off the ferry with a job that started in a few days and still needing to find a place to rent. Most people would advise against such things, so I may not be who you want to listen to.

 

[JeffRaines]

On my deathbed I will not look back and wish I had more money. I sure as hell will wish I'd spent more time with my family. I’ve been in your shoes and kept the job/career. It has worked out with less hours now, but I missed a lot of years of my kids childhood and it haunts me.

I’ve said this a thousand times. How many people knocking on deaths door think “man I wish I would’ve spent a few more hours at work”.

NONE.

 

[Sunshine40]

Your kid won't care how much money you make, just how little time you spend with them. You can always go make more money later. You'll never get that time back with your kid.

 

[sasquatch]

How many years off of working can’t 40k per year get you??

THAT is the way to navigate this. Live on the lesser salary and invest 40k more per year

If done right that should knock 10 years off of working career

Shift work should also equal more time off not less. I work shift work, and unless I’m working some sort of OT coverage I work 14 days per month. 7 are nights/7 are days. I’ll always take longer hours per day for less over all days

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[bowhuntercoop]

I left a 6 figure job to stay at home with the kids full time. 3rd is due this Sunday, makes 3 under 3. Wife is a dr so it wasn’t about the money as much as the time.

I was a workaholic, 60-80 hour weeks. Kids changed that real quick. Can always make more money, can never make more time.

Best thing I’ve ever done as a parent was stay home with my kiddos, it’s truly life changing.

 

[fngTony]

If I was in your shoes I’d ask myself the following questions.
Am I the sole provider?
Will being in a better tax bracket and lifestyle changes lessen the impact?
Could my spouse make a little more?
Could I make lifestyle adjustments now and invest my surplus income so that it becomes passive income and then take the cut a year later?

 

[Q child]

If you can live on your income after the pay cut, then make the switch and never look back.

 

[fngTony]

Another thought, money aside could you return to your previous job if you regret the new one?