I'm in a weird place at 32 years old.
On the positive side: Investments are doing well, and I have hit a small milestone of reaching 800K net worth. This all came from my previous career + the compounding interest on those savings.
On the negative side: I left my previous career (banking) as that industry is quickly dying and laying people off due to automation / AI, and have now spent 3 years trying to make a new career work in software development, which was supposed to be one of few remaining industries holding out against being automated. But this past year the company I was working for let go the majority of the team, saying that they now only need senior developers with a minimum of 5+ years experience. They no longer want to invest on training people up who have 0-4 years experience. The work that used to be commonplace for junior / intermediate level developers has now been largely automated in 2019, or they are only willing to give it to unpaid interns .
I'm having to ask myself if it's worth it to continue. Looking for other jobs only reveals bleak prospects. I have made SOME money doing this, but when factoring in how much time I have spent pursuing this career so far (3 years), and part of that was being accepted into and graduating from a very highly rated training program that only accepts top students, and how much of that time was making nothing from it at all, plus how many more years of intense, unpaid training it is looking like it's going to take before one is hire-able as a developer now in 2020 and beyond.
This was the industry where there was so much demand that you could spend 3-6 months training and you would have swarms of job offers from all directions, and you could readily secure regular well-paid freelance work. But it looks like I caught the very tail end of that. Those heydays were 10 years ago and that well has completely dried up in just a few short years. None of the other people who I graduated with from the training program are doing any better. Most have had no success at all. And now many of these training programs and coding bootcamps are quickly shutting down as their students are no longer able to get jobs.
So now what do I do? Most say I'm still too young to retire, but the last couple years I made more money from my investments than I have from most of my working years. And doing unpaid work with the hope that in a couple of years I might get a mediocre salary or some exploitative contract gig doesn't make any sense .
At least I can be very thankful that I was able to hunker down and save like crazy between the years of 2010 and 2017 and then taught myself how to invest. I feel especially bad for people who are in their 20's or younger today, as there doesn't seem like there are any (or very, very few) promising paths that would allow one to get ahead anymore, and it's only going to get worse if things keep going in this direction (ie automating everything).
On the positive side: Investments are doing well, and I have hit a small milestone of reaching 800K net worth. This all came from my previous career + the compounding interest on those savings.
On the negative side: I left my previous career (banking) as that industry is quickly dying and laying people off due to automation / AI, and have now spent 3 years trying to make a new career work in software development, which was supposed to be one of few remaining industries holding out against being automated. But this past year the company I was working for let go the majority of the team, saying that they now only need senior developers with a minimum of 5+ years experience. They no longer want to invest on training people up who have 0-4 years experience. The work that used to be commonplace for junior / intermediate level developers has now been largely automated in 2019, or they are only willing to give it to unpaid interns .
I'm having to ask myself if it's worth it to continue. Looking for other jobs only reveals bleak prospects. I have made SOME money doing this, but when factoring in how much time I have spent pursuing this career so far (3 years), and part of that was being accepted into and graduating from a very highly rated training program that only accepts top students, and how much of that time was making nothing from it at all, plus how many more years of intense, unpaid training it is looking like it's going to take before one is hire-able as a developer now in 2020 and beyond.
This was the industry where there was so much demand that you could spend 3-6 months training and you would have swarms of job offers from all directions, and you could readily secure regular well-paid freelance work. But it looks like I caught the very tail end of that. Those heydays were 10 years ago and that well has completely dried up in just a few short years. None of the other people who I graduated with from the training program are doing any better. Most have had no success at all. And now many of these training programs and coding bootcamps are quickly shutting down as their students are no longer able to get jobs.
So now what do I do? Most say I'm still too young to retire, but the last couple years I made more money from my investments than I have from most of my working years. And doing unpaid work with the hope that in a couple of years I might get a mediocre salary or some exploitative contract gig doesn't make any sense .
At least I can be very thankful that I was able to hunker down and save like crazy between the years of 2010 and 2017 and then taught myself how to invest. I feel especially bad for people who are in their 20's or younger today, as there doesn't seem like there are any (or very, very few) promising paths that would allow one to get ahead anymore, and it's only going to get worse if things keep going in this direction (ie automating everything).