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

[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?

 

[johnnycake]

While I generally think that more family time is worth a pay cut, I would caution making the change right away.

My two kids each ended up with a host of health issues that are well managed to the point it has very limited impact on their lives and most people would never know they had major stuff going on. But the reasons why they are able to live and be "normal" and healthy boil down to money. Lots of money. Even with good insurance, we're talking $30-80k/yr in out of pocket expenses.

Kids are rarely cheap, aren't getting cheaper, and you just never know what might jump out at ya around the corner.

 

[EdP]

Is a 40K cut the only option to gain more family time? Maybe keep your options open and find a job with a smaller cut that gives you the family time you need. You have a great paying job so you don't need to be in a hurry, but it does sound like you need to make a change. Have you talked to your employer about the situation to see what they would offer. Employers don't like to lose good employees, but if necessary look elsewhere. Sometimes the skills developed in one job that involves shiftwork are transferrable to other non-shift work roles in the same industry. I've seen mechanics and instrument technicians become planners and plant operators move into engineering specialist positions.

 

[Schmo]

@Elite,
It sounds like even if you take the pay cut, that you will be completely fine. To me, the time with family will be worth it. I would think you’d still have freedom to go and do things. I have my own business, and my goal in doing that is to have a more free life. A wise man told me this, “the definition of wealth is discretionary time”. It’s so true. Yes, you can have many toys, fancy cars, and big houses. But if you have to work like a madman to support it all, it’s worth nothing. Just my two cents.

 

[Corvus Corax]

You seem to have had this weighing on your mind for a while now. You know what you want to do, and you just want some encouragement to make the tough decision. If you and your partner are on the same page in regard to the financial implications and your family is taken care of. Go for it!

 

[*zap*]

Contrary to what most people believe $/possessions are not the most important things in life.