When I began working at 22 as a field hand for Baker, starting at $95,000/year and I made over 150k last year. I've always been frugal, and I saved over 70% of my income. Years after years, I have been maxing out my 401(k), backdoor Roth IRA, HSA and some after tax saving. I would easily reach financial independent and retired by 35. I didn't like my job, but I figured that was okay, because I was only going to do it for a decade or two. But I've come to a realization. I had fallen into a trap: I didn't like my job, I had no energy for hobbies because of the stress of my job, and I generally felt unfulfilled by my lifestyle. Since my job takes up most of my time, I started thinking about what I wanted to do when I retired early. I decided that I would enjoy teaching; I am passionate about it, and the only reason I didn't originally pursue teaching was because of the low pay. So I make the leap now. Yes, I could wait until 35, reach financial independent, and take a teaching position without any consideration for the pay. But I realized that's not what I want. Should I take a lower paying job and extend my retirement to 45?
12 replies (most recent on top)
Check out Mr. Money Mustache blog- especially the forums- you can do it buddy!
Look before you leap! A high paying job is not easy to find again. As a former professor, I found teaching to be more hassles and less respect, more scrutiny and less freedom, and more work and less reward. If I were in your shoes, I would hang on a bit longer till financial independence. Then volunteer or do whatever make you happy. Best wishes!
133439 - I don't begrudge anyone making more than me. I just wish you would write a "How To" book. I'd pay for it.
Crock of shat !!!!!
Wow it sounds like you worked for the United States Postal Service
You can the worthless Houston f***s here calling field personnel over paid.
I know a guy who retired early without a ton of money saved but a fair amount. He lives in the woods, bikes, hikes, fishes his food and grows his own mushrooms. No wife or kids. He is very frugal. Lifestyle has a lot to do with how much you need to retire. Now the math. OP started at $95K and last was at $150K and you make three times that. Because you weren't clear on which one, you either make $285K or $450K. If you can't save money on that salary, it is the lifestyle. Either way I wish I had your job. Well done!
Anonymous133340
Dude you are full of shit! I make 3 times what you claim you make and no way you stashed that much away away. You must live in a card board box! Go back to the circus because you are a clown!
To honestly answer your question, keep the job and take the money. Talk to teachers and ask them how truly happy they are in their jobs. You are just as likely to find bungling management in most any school administration and a lot of control will be placed on what and how you teach. Make an appointment with your optometrist and get a replacement prescription for those rose colored glasses of yours. Money will not make you happy or unhappy. Only you can do that. Schools can have good teachers but also really bad ones because, let's face it, George Bernard Shaw was correct.
Overpaid or not would be determined by the amount of time spent at work and other sacrifices (for example, like sleeping at rigsite 25 days per month).
There have been some people that have made 6 figures in the field, but when they factored in all the hours dedicated to work including driving to remote locations, they actually made about as much as a mcdonalds employee on a per hour basis.
obviously over paid
Make your own job. Do your own thing. If you make money, great. If not then go to work somewhere else