Is there a way out of this maze?

[Grainiac]

One option to consider is to do consulting or start your own business doing something you enjoy and working when you want to work. According to the authors of The Millionaire Next Door, "Interestingly, self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires."

Plus the tax advantages are a huge plus. Health insurance premiums may be a deductible expense. The amount you can tax defer in retirement plans is another plus.

You may not have to choose between a high stress job for a mega corp with long hours and no earned income at all.

Just a thought.

This is actually something I have always had in my mind as an option. It is definitely a possibility, as I believe that with my connections I could find plenty of work as a consultant. The few reasons, however, that make this option NOT so optimal solution:
- Working 50% of my previous hours would earn me only 10-20% of my previous income. This is due to the fact that the consulting gigs are primarily for technical experts and I am currently paid as an executive who leads teams of those experts.
- Due to the nature of my field, travel to the work site would be required for almost every consulting gig. With my current location this would mean that for example for a 3-day consulting job I would often be away from home for 4-5 days.
- Many companies do not like giving significant jobs to consultants who also work for their competitors, as they worry about their "secrets" leaking out. This means that there would very quickly be pressure from the company to take a full time job with them, which consequently would require relocation away from the area where we are living now.
- This one will make me sound a little small-minded, but I put it out here anyway: Moving into a much lower paying position or compensation level is much more socially acceptable if one moves to a entirely new field. Someone who says that after 25 years I am tired of working this field will get much more supportive nods than someone who indicates that he failed and burned out as an executive and wants to stay in the same field but go back to the level where he was 15 years ago.

In any case, if I end up SERing soon, I will very likely be offered various opportunities with different companies (current competitors), which I could always try to counter with an idea about consulting with them first. Even if the income drop will be huge, it would help both DW and I start adjusting to the idea of working less and living with lower income. Especially, since we will continue receiving health benefits from DW's company as long as she hangs on in her job, this seems like a natural option.

 

[Ed_The_Gypsy]

It looks like you are not mentally ready to leave your work. So don't.

 

[Ed_The_Gypsy]

By the way, as a purely technical consultant myself for many years, I have seen very few managerial consultants. Managers protect their own territory. The trail you are on gets narrower and narrower and those on it fend off others. I think you are kidding yourself about consulting.

 

[TooFrugal]

It is definitely a possibility, as I believe that with my connections I could find plenty of work as a consultant. The few reasons, however, that make this option NOT so optimal solution

There is always starting a totally new business. The millionaire small business owners in the Millionaire Next Door that are in "dull normal" businesses like dry cleaning and scrap metal.

 

[urright4me]

I am a year ahead of you, and have similar feelings about work. I am weighing quitting early, losing out on the lump sum and medical benefits, but keeping five years of my life. I like the Die Broke philosophy, i.e. you can't take it with you. My wife and I have very similar interests which helps with our planning. We think we would like to travel through Europe staying a monthly furnished rentals. We have had long vacations in Greece, Italy, Bulgaria, and England and want to try out more places. We use public transportation and occassionally rent cars as needed. Oh I should mention, why I want out, it is similar to what you expressed. When I get a promotion or pay raise, I am left feeling empty (not thrilled like I used to be!). Running on the corporate treadmill is no longer my thing. Many of my co-workers (young and old) are still ultra competitive, want to look good to the boss, want to be seen to spend extra time at the office, go for the power lunches, dinners, bars with the guys. Leaves me wondering why they don't want to go home to their families. My job is not my life, my life is my family, and personal fulfillment. Granted, when I was younger, my job was my life, not my job is my means to make a living, that was the Die Broke gift to me what I read it in the 1990's. Quit your job today, in your mind, your job is a paycheck. A doctor friend of my parents, likes to tell a story about no one ever putting "I wish I had spent more hours at the office" on their tombstone.

 

[clifp]

It sounds like you and probably you and DW really need some time off.

At minimum take your vacation, really they aren't just a benefit for employees, employers benefit from having folks decompress.

The truth is if you haven't had more than week off in 16 years you really might be bored with a high status, high stress job. Assuming your Megacorp doesn't offer sabbatical is there anyway you can take a leave of absence for a few months? It will be a pretty good test to see if you could in fact be content to be a gardener, putter, home maker, or do you really need a second career.

If worse comes to worse, consider using the Family Medical Leave act to take 3 months off. There are enough loophole in the law that you can satisfy the letter of the law even if you violate the spirit. For instance you can go to a few orphanage in China, Southeast Asia while exploring the region. Or mom or dad has a real health issue but doesn't really need your presence for the full 3 months.