Feeling Stuck in my 40s....

[JustMovedtoCO]

Hi Everyone,

I was downsized from a long career *really got the shaft* and have been

just lost since it happened. There aren't any jobs in what I used to do

EQUITY TRADING since it is going automated or quant. Thus, I really wanted

to possibly switch careers to being a teacher. I am subbing and like it but

the pay is so low I cannot pay the bills. I can apply for an alternative license

for full time but someone would have to hire me without experience. This

is probably a crapshoot. The other option is to go back to school full time to pursue a teaching degree. At this stage of my life, I cannot afford to go back

to school expense wise full time without much of an income. I honestly feel stuck and aimless. Any thoughts? I am great at teaching despite the low pay

and feel a connection to the kids. I am burned out on Corporate Life. Thanks

for any advice. Take care and Happy 2008.

[Crazyaboutdogs]

I did all my training in my twenties and in my thirties couldn't find the higher level positions in my field so I ended up stuck in the lower paying positions going from one year contract to one year contract. Finally, at 38 years old I got the job I am currently in and have been doing very well. I know you are doing it in reverse to what I did, but what I can tell you is that sometimes you end up making sacrifices in the short-term for something that will be so much better for you in the long-term. I am not sure if teachers really get paid all that much. Have you thought of other things you might be interested in doing....are there skills you learned in your previous job that you can apply in other kinds of jobs?

[Dako]

Are you willing to give up luxuries to do what you want?

 

Downsizing your lifestyle is an option.

I changed careers at 55 and now make half of my old salary.

[skyjuice]

Hi

 

Do you have dependant(s) to support?

 

If no, it would be easier to downsize your lifestyle. If yes, then your family has to work together to reduce spending.

 

I understand corporate world is cruel, because I experienced it myself. I was a department head, 1 month ago. The management sent a higher ranking staff to replace me yet I am still in the same department. I work 12 hours per day, and this is how they reward me! Bonus and salary increment are low compare to others in the same industry.

 

It remind me of one of the book I read, "Who move my cheese?" Someone has moved my cheese, and the faster I let go of the old cheese, the faster I can look for new cheese.

 

I believe nowadays we have to commit ourselves to life long learning because the world is changing with technology and global mobility.

 

Employees are asset, dispensable asset!

 

Sorry to be so pessimistic but this is the reality. However, we should not sit there to wait for the worst to happen. We can stand up, be positive and find ways to get out of this mess. You have to sharpen your aex to make yourself more marketable in job market. You can also start your own business.

[CaptainPlanet]

I guess the only thing you can do is keep at it.

 

Are there night classes you can do ?

 

Can you save money over a few years to be able to afford college ?

 

Are you supporting a young family ?

[JustMovedtoCO]

I am supporting a family. My wife has zero career since she was a stay at home mom. I do have some money saved but worried. The age discrimination is a very real thing in Corporate life. Nobody wants to pay me my higher salary and have me on their health plan. This is what I have found when talking to others in similiar boat. The downsizing really caught me off guard

and they were so mean about it. I had stellar reviews. They mean zilch.

Expenses are so darn high nowadays that it is hard to live frugally. I cannot believe how much it cost to live versus even 5 years ago. Thanks.

[skyjuice]

Hi

 

At least you have some money saved. Are your kids near college or university age? Or they are still very young.

 

If they are young, your wife could look for jobs that allow work at home.

 

To reduce spending:

Eat at home instead of eating outside.

Rent movie instead of go to cinema.

Make a shopping list of what you really need and really stick to it.

Go to breach for holiday instead of go to theme park.

 

Invest with your saving wisely.

[BeStrongBeHappy]

there are quite a few 'fast track' teacher programs that allow people in mid-life to earn teaching credentials mostly online then a supervised student teaching period of maybe 6 months... you should contact your local school board to get information on accelerated teaching programs in your state, or start googling to look for programs. if you already have a college degree, it usually doesn't take that long.

 

downsizing is unfortunately a reality for lots and lots of people in today's world of offshoring, so you are not alone in this problem...

 

the most critical thing to focus on now is cutting your expenses to make what money you do have last while looking for new opportunities, and to take an interim job of any kind to keep you going til you find a replacement career.

 

and are your kids mostly out of the house yet? perhaps your wife should consider a part time or fulltime job herself to help bridge the gap til you are resettled. when something like this happens both people need to be flexible and start sharing the financial load.

[CaptainPlanet]

I don't know how realisitic is it for your wife and kids to work after school to pay for a lot of their own things and possibly a share of the bills. If they're old enough to work they might understand especially if it is going to be for a few years only.