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Old 01-28-2016, 09:58 AM   #21
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You're under some stress now, so any decisions you make may not be made with the best rationality. But based on your comments so far, I'd suggest you not think in terms of retirement. 3 children means a lot of unexpected expenses down the road.
I also think (it didn't take rocket scientist brains for this) you should seek out a non-sales job. An entirely new career/entry level job could be the ticket to an enjoyable work life. Surely, the long term income from this would be better than just retiring now and scrimping on part-time gigs. Further, no one says you'll have to do it until age 65. You have such a great financial base, that your next career may not be that long, and you can still enjoy a long early retirement.
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Old 01-28-2016, 10:02 AM   #22
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Remember to breathe. You're in a much better place than so many of your peers. Cam you lean on your family some more? I.e. Can DW get some more money in through a part time gig? Can your eldest child pull in some babysitting money?

That and a low stress part time job and some seasonal work might be enough to keep your quality of life reasonable and give you time to heal. Your health is extremely important to your family. Take care of yourself.
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Old 01-28-2016, 10:11 AM   #23
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You're under some stress now, so any decisions you make may not be made with the best rationality. But based on your comments so far, I'd suggest you not think in terms of retirement. 3 children means a lot of unexpected expenses down the road.
I also think (it didn't take rocket scientist brains for this) you should seek out a non-sales job. An entirely new career/entry level job could be the ticket to an enjoyable work life. Surely, the long term income from this would be better than just retiring now and scrimping on part-time gigs. Further, no one says you'll have to do it until age 65. You have such a great financial base, that your next career may not be that long, and you can still enjoy a long early retirement.
Thanks. Just figuring out what that looks like is key. I was thinking of going back to school and becoming a practical nurse...(program is 2 years). But your right about my decisions, I am all over the place at the moment.

Also thought about selling cars (but thats sales again)
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Old 01-28-2016, 10:24 AM   #24
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Remember to breathe. You're in a much better place than so many of your peers. Cam you lean on your family some more? I.e. Can DW get some more money in through a part time gig? Can your eldest child pull in some babysitting money?

That and a low stress part time job and some seasonal work might be enough to keep your quality of life reasonable and give you time to heal. Your health is extremely important to your family. Take care of yourself.
True - I am in a better place. Wife is bring in $600-$1200/month now through a PT gig.
My wife has a passion to be a hairstylist actually- she is planning to get training for that. I feel like we are both starting over....
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Old 01-28-2016, 11:06 AM   #25
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Stay away from car sales, you would be jumping into the same culture.

You mentioned becoming a LPN, a 2 year program. Pay a visit you your local community college, research the demand, income and working conditions of 2 year training programs in fields that are a good fit for you.
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Old 01-28-2016, 12:49 PM   #26
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Thanks. Just figuring out what that looks like is key. I was thinking of going back to school and becoming a practical nurse...(program is 2 years). But your right about my decisions, I am all over the place at the moment.

Also thought about selling cars (but thats sales again)
I went back to school in my thirties to get out of a senior management job and back into more techie work. I tried a few things and failed at a few until I found a career that worked out and allowed DH to early retire. Hang in there, narrow down your choices, try a few classes and see what clicks. The Job Outlook Handbook is a good resource (though U.S. centric).
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Old 01-28-2016, 01:20 PM   #27
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Thanks. Just figuring out what that looks like is key. I was thinking of going back to school and becoming a practical nurse...(program is 2 years). But your right about my decisions, I am all over the place at the moment.

Also thought about selling cars (but thats sales again)
Stay away from car sales, its dog-eat-dog and very low commission.

Nursing is on the rise as many baby boomers are entering old age (maybe up in Canada also?). They are giving sign on bonuses for nurses around here and 4 new hospitals are being built near by us.

If being an RN fit you, it could be a great move.
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Old 01-28-2016, 02:04 PM   #28
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So, I have an opportunity to take an interim job in a niche product area on straight commission - there would be very little pressure and I would just get paid on what I sell. In the past I sold this product for 10 years and did well (that is what helped bring my finances to where they are today) However, I now hate the industry, I feel weird turning down a role when unemployed. Foolish to do this? I am trying to focus on the big picture and longer term happiness and do what it will take to get me there. I would rather take an interim job in retail or something. My family is not going to starve anytime soon.
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Old 01-28-2016, 02:17 PM   #29
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So, I have an opportunity to take an interim job in a niche product area on straight commission - there would be very little pressure and I would just get paid on what I sell. In the past I sold this product for 10 years and did well (that is what helped bring my finances to where they are today) However, I now hate the industry, I feel weird turning down a role when unemployed. Foolish to do this? I am trying to focus on the big picture and longer term happiness and do what it will take to get me there. I would rather take an interim job in retail or something. My family is not going to starve anytime soon.
I am kind of a Tedtalk junkie and one of the ideas that that usually comes up frequently is to begin with the end in mind - where do you see yourself in 5, 10, 20 years? I think you have enough savings to not have to work at a job you hate or the first thing that comes along. Have you read the Millionaire Next Door? Most of the people surveyed had careers they enjoyed.
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Old 01-28-2016, 03:01 PM   #30
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So, I have an opportunity to take an interim job in a niche product area on straight commission - there would be very little pressure and I would just get paid on what I sell. In the past I sold this product for 10 years and did well (that is what helped bring my finances to where they are today) However, I now hate the industry, I feel weird turning down a role when unemployed.
Think about reality. Your wife makes a little money, you have 3 children, the pressure cooker atmosphere on your last sales manager job got to you.

Now another sales field that you have experienced, made very good money with, and found it low stress comes along. You are considering practical nurse. Nursing is high stress (your patients are always dying!), and practical nurse is pretty close to the bottom of that medical totem pole, which is often not a good place to be.

But you "hate" the low stress, high pay sales job.

Maybe an attitude adjustment would help more than anything else. In no case jump from the frying pan into the fire! You won't be indentured in this new job you mentioned. Take it, bank some more money. and hang on until something obviously better comes along.

Ha
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Old 01-28-2016, 03:17 PM   #31
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I hear where you're coming from. Happened to me (so far) twice in my career and dodged a 3rd one a year ago. My first one was at age 42 and the second was at 52. I wasn't quite where you were savings-wise at 42, so whether I wanted to or not, I kept working. At 52, the severence was really sweet. I could have stopped then, but since the house wasn't paid off and the kid was in middle school - I opted to keep going. The reality is that your mid 40's through 50's are your prime earning years. If your portfolio isn't where you want it to be by then, then that's the time to build it up. If you're happy where it is then if you can downsize your career and still live off of something less, then there is time for your portfolio to continue to grow - even if you're not able to make more deposits.
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Old 01-28-2016, 04:17 PM   #32
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I still say what I said before, you're very close financially so another few years of work in the field that you know inside out. I wouldn't make a career change just for another 4-5 years. If I were you I'd take the low stress sales job - you can always quit.

I know and meet the technology sales people (IT industry) on a daily basis, they all seem to do very well financially and still find plenty of time to do customer lunches, golf trips, Clipper's games etc etc...

I'm also burnt out at my current place and being in upper management switching jobs is not that easy (the good ones are hardly vacant) but I keep on keepn' on until I find that perfect job or my FI goal is met (I'm 41, divorced, one kid, looking to hang it up by 50 with 1.5M).
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Old 01-28-2016, 04:17 PM   #33
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Think about reality. Your wife makes a little money, you have 3 children, the pressure cooker atmosphere on your last sales manager job got to you.

Now another sales field that you have experienced, made very good money with, and found it low stress comes along. You are considering practical nurse. Nursing is high stress (your patients are always dying!), and practical nurse is pretty close to the bottom of that medical totem pole, which is often not a good place to be.

But you "hate" the low stress, high pay sales job.

Maybe an attitude adjustment would help more than anything else. In no case jump from the frying pan into the fire! You won't be indentured in this new job you mentioned. Take it, bank some more money. and hang on until something obviously better comes along.

Ha
I get your point. For some reason I think I could handle the "stress' in a health care environment better esp if I know I am making a difference in peoples lives. This role that popped up is in home selling residential HVAC - I did that for 10 years and did well yes. (that was before my management roles)
I was completely burned out on it by the end - I did well on it because I was passionate about it at the time, I am not anymore.
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Old 01-28-2016, 05:36 PM   #34
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I think you have plenty of time to take a "break" and see if you can actually live within your limited budget. Call it a sabbatical. If it turns out you can actually live on the projected low income.... consider extending the sabbatical. If you find an interesting part time gig, consulting opportunity, or any other income generator... consider adding those back in.

4% is probably too aggressive for someone your age and with kids. I say that as someone who retired at 52 with 2 kids... and I'm trying to stay around 3.2% WR.

+1 Good Advice from Rodi.
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Old 01-28-2016, 05:40 PM   #35
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I remember my Mother's advice, every job is awful. Survey your choices (I actually had some) and rank them based on your values.

Frankly I think nursing is too much of a change. Why not maintain HVAC systems? You obviously know something about them already. You need not limit yourself the residential systems.
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Old 01-28-2016, 07:32 PM   #36
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I remember my Mother's advice, every job is awful. Survey your choices (I actually had some) and rank them based on your values.

Frankly I think nursing is too much of a change. Why not maintain HVAC systems? You obviously know something about them already. You need not limit yourself the residential systems.
Nursing could be. Its just been a rough ride overall and maybe that is why I am looking for a big change. I was really good at my last role long term role. However, since some changes happened I have been dealing with some left over anxiety and maybe even PTSD. Then had a couple false starts with 2 companies
(I did not do my research and jumped to fast) - so I have some fresh battle wounds....

Interesting that you say that about staying in HVAC. I was contacted by a recruiter this afternoon for a B2B sales job selling commercial restoration services (humidity control etc) They mentioned that they like my HVAC background as its somewhat related. I will find out more about that role tomorrow but apparently the base is 50k plus car allowance/mileage with on target earnings at 90-100k
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Old 01-28-2016, 09:32 PM   #37
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Bingo!! Commercial is a better gig than residential.
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Old 01-29-2016, 07:04 PM   #38
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Also thought about selling cars (but thats sales again)
I agree with the others on not doing this. After I retired, more as an experiment than anything else I tried car sales just because it was so different than what I was doing before. I was a dismal failure and got fired in two months.

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Nursing could be. Its just been a rough ride overall and maybe that is why I am looking for a big change.
Taking a page from What Color is Your Parachute? I'd suggest taking a few nurses out to lunch on your dime and ask them what it is really like. Not having a dog in that fight they'll be more than happy to be straight with you. It might be an eye-opener that could keep you from making a huge mistake. Or confirm what you're thinking.

BTW, I highly recommend the book, but look in the library first so you may not have to pay for it.
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Old 01-30-2016, 06:08 AM   #39
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I agree with the others on not doing this. After I retired, more as an experiment than anything else I tried car sales just because it was so different than what I was doing before. I was a dismal failure and got fired in two months.



Taking a page from What Color is Your Parachute? I'd suggest taking a few nurses out to lunch on your dime and ask them what it is really like. Not having a dog in that fight they'll be more than happy to be straight with you. It might be an eye-opener that could keep you from making a huge mistake. Or confirm what you're thinking.

BTW, I highly recommend the book, but look in the library first so you may not have to pay for it.
I have a friend who was in IT for years. He got out and did real estate for a few years after 2008 (lots of foreclosure properties to sell). He then went back to school for a nursing degree, but changed early on to Physicians Assistant. That's another option.

Another one I've seen is teacher - at least here in TX there are several programs that accelerate the path to a teaching certificate, if you already have a degree.

Obviously neither are for everybody....
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Old 01-30-2016, 07:15 AM   #40
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Sabbaticals are a good way to figure out what you can to financially and want to do.

Caveat: If you're out of work for a longer period of time, it creates questions when you do go looking for work. And "Burnt out, needed time off" isn't a good interview answer; it might be honest but it won't get you the job.
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