career change
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Road Master
Joined: Jun 2007
Posts: 1,189
Likes: 9
From: la grange, il (near chicago)
career change
i am thinking i would like a career change, or maybe just a change
i am just wondering how many of you have done a career change or even a major change like starting your own business at a stage of life similar to mine and what made you do it and how did you decide and how it worked out.
i am 56 - oops - just had a bday - so now it's 57
got 3 kids - 24, more or less on her own; 22, finishing up her second year in college; 19, finishing up his first year in college
so i still need the money for kids and such and to increase retirement funds, have way too many bills and need to pay off/eliminate some. so can't afford to drop income too much.
i make a good buck in IT (DBA for those of you who know the acronym) at a large company (HCSC which is the holding company for Blue Cross Blue Shield of Illinois, New Mexico, Texas and Oklahoma). wife makes a good buck also.
but i have been doing this stuff for too long and it just ain't doing it for me any more.
some jobs i would have to start at the bottom which wouldn't give me the money i would need.
other things would be just too hard on the old body.
i have been thinking about this for awhile. maybe it is just this company, or the current economy and situation or whatever.
and have been weighing some options. like using my IT experience to enter some other industry, like programming robotics.
maybe helping with pre or post sales support for equipment that might require some it knowledge.
perfect job might be test riding harleys!
but man, it is scarey to think of how much you could loose, or how far back it could set you if you fail.
so i am just looking for some thoughts from those who have done it and suceeded or done it and failed, etc.
how much did you plan for it, how much did you risk, etc.
thanks
p.s. man this winter has got to end to i can get out and ride and stop this blasted thinking and internal soul searching
i am just wondering how many of you have done a career change or even a major change like starting your own business at a stage of life similar to mine and what made you do it and how did you decide and how it worked out.
i am 56 - oops - just had a bday - so now it's 57
got 3 kids - 24, more or less on her own; 22, finishing up her second year in college; 19, finishing up his first year in college
so i still need the money for kids and such and to increase retirement funds, have way too many bills and need to pay off/eliminate some. so can't afford to drop income too much.
i make a good buck in IT (DBA for those of you who know the acronym) at a large company (HCSC which is the holding company for Blue Cross Blue Shield of Illinois, New Mexico, Texas and Oklahoma). wife makes a good buck also.
but i have been doing this stuff for too long and it just ain't doing it for me any more.
some jobs i would have to start at the bottom which wouldn't give me the money i would need.
other things would be just too hard on the old body.
i have been thinking about this for awhile. maybe it is just this company, or the current economy and situation or whatever.
and have been weighing some options. like using my IT experience to enter some other industry, like programming robotics.
maybe helping with pre or post sales support for equipment that might require some it knowledge.
perfect job might be test riding harleys!
but man, it is scarey to think of how much you could loose, or how far back it could set you if you fail.
so i am just looking for some thoughts from those who have done it and suceeded or done it and failed, etc.
how much did you plan for it, how much did you risk, etc.
thanks
p.s. man this winter has got to end to i can get out and ride and stop this blasted thinking and internal soul searching
Club Member
Joined: May 2008
Posts: 2,095
Likes: 4
From: Ponchatoula Louisiana
I switched from managing a family owned auto repair shop to becoming a chef when I hit 30. Believe me, it ain't the most glamorous profession like it's portrayed on t.v. After working in several hotels and restaurants, and a short stint at teaching, I now work at a retirement community serving good food to folks enjoying their "golden years". I'm not getting rich, but it has allowed me to get my dream bike plus the satisfaction of giving something back to the generation that gave us so much. Any job where you can give of yourself to help others is ultimately the most satisfying. Good luck with your search!
I MOVED FROM MILWAUKEE TO CHICAGO AND STARTED A BUSINESS IN THE SAME FIELD I WAS IN DURING MY 30'S
didnt know si#% about running a business but i could talk and sell
made it with hard work and luck
damn glad i did now i have sinse sold that business and working for another but the stuff you learn running the whole thing is invaluable and the respect from your peers for accoplishing that makes the rest of your life easier
will you make more money? are you too old? only you know that i will say i am damn glad i did it in my 30's it takes a lot of enegry
didnt know si#% about running a business but i could talk and sell
made it with hard work and luck
damn glad i did now i have sinse sold that business and working for another but the stuff you learn running the whole thing is invaluable and the respect from your peers for accoplishing that makes the rest of your life easier
will you make more money? are you too old? only you know that i will say i am damn glad i did it in my 30's it takes a lot of enegry
Seasoned HDF Member
Joined: Sep 2008
Posts: 12,578
Likes: 19,791
From: Ramona, Ca
I MOVED FROM MILWAUKEE TO CHICAGO AND STARTED A BUSINESS IN THE SAME FIELD I WAS IN DURING MY 30'S
didnt know si#% about running a business but i could talk and sell
made it with hard work and luck
damn glad i did now i have sinse sold that business and working for another but the stuff you learn running the whole thing is invaluable and the respect from your peers for accoplishing that makes the rest of your life easier
will you make more money? are you too old? only you know that i will say i am damn glad i did it in my 30's it takes a lot of enegry
didnt know si#% about running a business but i could talk and sell
made it with hard work and luck
damn glad i did now i have sinse sold that business and working for another but the stuff you learn running the whole thing is invaluable and the respect from your peers for accoplishing that makes the rest of your life easier
will you make more money? are you too old? only you know that i will say i am damn glad i did it in my 30's it takes a lot of enegry
Tourer
Joined: Jul 2007
Posts: 487
Likes: 3
From:
90% of all new businesses that fail in the first twelve months fail due to under-capitalization. The only advice I can give is do it only if you have enough cash stashed away to survive without one cent coming in from the new business for the entire first year. Can you pay for your life as it is now for twelve months with no income? Can you also pay for any and all start-up costs and fixed expenses (business rent, taxes, etc.) for twelve months with no income? Keep in mind that you will probably want to acquire some kind of medical insurance during that time if the current job you're leaving pays for all that. If you cover all of the above, work hard and your business fills a niche, you'll make it. Those who think the money starts pouring in the day they hang their open sign are the ones that fail in the first year and if I'm not mistaken, that's about 60% of all new businesses. Having owned my own business for fifteen years, I can tell you that every single business that failed where I personally knew the owner failed because they were living paycheck-to-paycheck when they decided to change careers and go into business for themselves. Many of them used their home equity to do so and are so far up the creek without a paddle now that god himself couldn't save them. There's an old saying about going into business for yourself: No one plans to fail, they just fail to plan. Hope this helps. P.S. Giving up a tenured teaching position to open my own business was the best thing I ever did, but I worked for three years on it before jumping in.
Last edited by codyshop; Jan 8, 2009 at 09:11 AM.
Road Warrior
Joined: Jun 2006
Posts: 1,268
Likes: 2
Times are tough right now. I'd hang in there and hold on to what you've got. I wouldn't change jobs without having a sure thing lined up. I'm gonna be 54 in a few days and you and I both know it's younger mans world, especially trying to break into a new trade. Many are so physical that we probably couldn'thandle it any more. Good luck in your decision.
Outstanding HDF Member
Joined: May 2008
Posts: 2,800
Likes: 3
From: Alaskan transplant to Florida
Sounds like you have the winter blues or burn out!
Years ago I quit a job that had good benefits and a good retirement plan.
I went to work for myself doing something I enjoyed and it allowed me a bit more freedom. I did that for 20 years and for several reasons wasn't able to fund my own retirement. I ended up going back to work for the original company later on in life and ended up with a much smaller pension.
If I had it to do over again. I would have stuck it out until the earliest possible time that I would have been eligible for retirement and then go into something I really enjoyed doing.
At 57,if you are able to take an early retirement at 60 or 65 and then go into another line of work,that may be something to look at if you haven't already.
For the immediate fix. I would try a good relaxing vacation someplace.
In a few months you can jump on the bike and get those evening and weekend attitude adjustments
Years ago I quit a job that had good benefits and a good retirement plan.
I went to work for myself doing something I enjoyed and it allowed me a bit more freedom. I did that for 20 years and for several reasons wasn't able to fund my own retirement. I ended up going back to work for the original company later on in life and ended up with a much smaller pension.
If I had it to do over again. I would have stuck it out until the earliest possible time that I would have been eligible for retirement and then go into something I really enjoyed doing.
At 57,if you are able to take an early retirement at 60 or 65 and then go into another line of work,that may be something to look at if you haven't already.
For the immediate fix. I would try a good relaxing vacation someplace.
In a few months you can jump on the bike and get those evening and weekend attitude adjustments
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Seasoned HDF Member
Joined: Sep 2006
Posts: 25,962
Likes: 9,763
From: Montana & Arkansas
Mark, Betcha get lotsa posts with advice/personal experiences.
I'll offer two things about jobs in these tough economic times:
1."Don't let go of one wrung of your life ladder until you have a solid grip on the next one."
2. You're working in IT plus are in healthcare (a pretty good mix to be in, during this economy)... go buy the book, 'The World Is Flat' by Friedman... if you've got the IT job tools and good curiosity then the opportunities could be nice.
Good luck!!!
I'll offer two things about jobs in these tough economic times:
1."Don't let go of one wrung of your life ladder until you have a solid grip on the next one."
2. You're working in IT plus are in healthcare (a pretty good mix to be in, during this economy)... go buy the book, 'The World Is Flat' by Friedman... if you've got the IT job tools and good curiosity then the opportunities could be nice.
Good luck!!!
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Joe Kucinski
Road Master
Joined: Oct 2007
Posts: 786
Likes: 1
From: Sheridan, AR
I apologize for not having a nice way to say this, but at 57 you should be looking down a short road to retirement... (10 years or less). The way the economy is right now, you are among the lucky to have a decent paying steady job. If you leave your current job wherever you go, you will be on the bottom of the seniority list, and the top of the firing / layoff list should the company need to downsize due to the failing economy. Also at 57 years old, any decent company is going to realize that you more than likely will not be spending 20 years with the company, and could be spending as few as 6 years with them (until you could draw social security). Another point I really don’t like to make, older employees (like yourself) tend to have more health problems which could result in lost work days. I'm not saying you have any health problems, buy merely trying to state that most employers in your field are looking for experienced 30 something year olds not 50 something’s. I don’t think you’re too old to look for a new job, but given the current situation, I would do some serious thinking before I took such a big risk.
Sorry, I'm just trying to give you an honest unbiased opinion.
BTW I am active duty military, and approaching retirement (20 years) and I'm nervous about an impending career change too.
Sorry, I'm just trying to give you an honest unbiased opinion.
BTW I am active duty military, and approaching retirement (20 years) and I'm nervous about an impending career change too.
Last edited by 1Coastie; Jan 8, 2009 at 09:21 AM.
Road Master
Joined: Sep 2008
Posts: 1,240
Likes: 0
From: Milwaukee area
90% of all new businesses that fail in the first twelve months fail due to under-capitalization. The only advice I can give is do it only if you have enough cash stashed away to survive without one cent coming in from the new business for the entire first year. Can you pay for your life as it is now for twelve months with no income? Can you also pay for any and all start-up costs and fixed expenses (business rent, taxes, etc.) for twelve months with no income? Keep in mind that you will probably want to acquire some kind of medical insurance during that time if the current job you're leaving pays for all that. If you cover all of the above, work hard and your business fills a niche, you'll make it. Those who think the money starts pouring in the day they hang their open sign are the ones that fail in the first year and if I'm not mistaken, that's about 60% of all new businesses. Having owned my own business for fifteen years, I can tell you that every single business that failed where I personally knew the owner failed because they were living paycheck-to-paycheck when they decided to change careers and go into business for themselves. Many of them used their home equity to do so and are so far up the creek without a paddle now that god himself couldn't save them. There's an old saying about going into business for yourself: No one plans to fail, they just fail to plan. Hope this helps. P.S. Giving up a tenured teaching position to open my own business was the best thing I ever did, but I worked for three years on it before jumping in.