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  1. #1

    OT: retirement and 2nd "careers"

    I will be 52 this year and will have over 29 years of service with my current employer. I have an old defined benefit retirement plan. I plan on retiring in the summer of 2022 or 2023. Current employer wants me to stay 5 more years but I donít see that happening. They might be convince me to stay to 2024 but Iím not feeling that right now.

    I will be too young to just retire and I probably need a little more income in addition to my pension. If want to maximize my income I would need to find work using my current "skills" (managing people and processes, project management and fixing problems, along with a host of typical administrative tasks from budgeting, to contract negotiation to HR). I think that finding that type of job and getting close to my current salary is not very likely and I'm sort of looking forward to doing something else with not necessarily less headaches but different ones. Maybe I could work somewhere that I am only responsible for a certain area than responsible for all of them, make less but not managing a lot of people. However, the idea of big change and not sitting behind a desk is appealing. The problem is I feel like outside of what I do I don't have any one area of expertise. I feel like the old saying ďJack of all trades and master of noneĒ applies to me. I have 18-30 months to figure it out.

    I thought about doing something that would be completely different like woodworking or a learning a trade. There was a post here a few months ago about a HVAC side hustle that was interesting. I have some rough carpentry abilities but not the skill of making furniture. I am thinking about setting up a shop in my garage, maybe it will never evolve beyond a hobby but who knows.

    Has anyone here made a similar transition to doing something completely different as a second career? If so do you have any advice? Or do you work or have knowledge of a field that someone could transition to.

    I am not extremely worried about figuring it out but it is hard to think about anything else. One thing I forgot to mention is that I am located in central Mississippi but that could change when I retire but I think I would like to stay in the South.

    Thanks in advance for any help.


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  2. #2
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    Quote Originally Posted by NTDawg View Post
    I will be 52 this year and will have over 29 years of service with my current employer. I have an old defined benefit retirement plan. I plan on retiring in the summer of 2022 or 2023. Current employer wants me to stay 5 more years but I donít see that happening. They might be convince me to stay to 2024 but Iím not feeling that right now.

    I will be too young to just retire and I probably need a little more income in addition to my pension. If want to maximize my income I would need to find work using my current "skills" (managing people and processes, project management and fixing problems, along with a host of typical administrative tasks from budgeting, to contract negotiation to HR). I think that finding that type of job and getting close to my current salary is not very likely and I'm sort of looking forward to doing something else with not necessarily less headaches but different ones. Maybe I could work somewhere that I am only responsible for a certain area than responsible for all of them, make less but not managing a lot of people. However, the idea of big change and not sitting behind a desk is appealing. The problem is I feel like outside of what I do I don't have any one area of expertise. I feel like the old saying ďJack of all trades and master of noneĒ applies to me. I have 18-30 months to figure it out.

    I thought about doing something that would be completely different like woodworking or a learning a trade. There was a post here a few months ago about a HVAC side hustle that was interesting. I have some rough carpentry abilities but not the skill of making furniture. I am thinking about setting up a shop in my garage, maybe it will never evolve beyond a hobby but who knows.

    Has anyone here made a similar transition to doing something completely different as a second career? If so do you have any advice? Or do you work or have knowledge of a field that someone could transition to.

    I am not extremely worried about figuring it out but it is hard to think about anything else. One thing I forgot to mention is that I am located in central Mississippi but that could change when I retire but I think I would like to stay in the South.

    Thanks in advance for any help.
    Are there any consultants/contractors in your field? They need project management.


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  3. #3
    Not quite the same boat but a few years ago I left a high pay, high stress job for a lower pay, lower stress job in a different field and I couldn't be happier. My wife and I made some tweaks and adjustments to account for the lower income but I'm not exaggerating when I say my quality of life improved literally overnight.

    So, if maximizing income isn't a huge necessity, I'd focus on finding something that you really enjoy doing and try to pursue that.


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  4. #4
    I worked for 25 years in electrical engineering and vowed to "give back" to the community that helped me get through college. So I returned to Mississippi where I work as an Engineering Instructor at a Career Tech Center. Don't make much money as a high school instructor but I have enjoyed helping students get excited about engineering. We have construction as well which would fit well with your qualification!


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  5. #5
    Likes Custom Titles CochiseCowbell's Avatar
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    First and foremost don't let anyone tell you that Strippin' ain't an option. Our very own IMPP can help you test the waters.


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  6. #6

    I quit a very good job of 20 years in June because I got a new boss and heís

    An asshole. It scared me to death to not have a job because Iíve always had one. I have since adjusted pretty well and realize working for an asshole is never worth it. My job now is to make sure I never need another job, so far so good. Good luck to you.
    I don't always drink but when I do I become a message board genius**


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  7. #7
    Glad to read this, Coach. Here's to a much better new year for you and yours.
    ďIím not going to take anything off the table at this point in time ... but I will tell you this,Ē Cohen began, ďthis person is going to have serious baseball experience as a head coach. This person is going to have made trips to Omaha, Nebraska. This person is going to have expertise in an area of the game and in all facets of the game. And this person is going to make our fan base very happy.Ē - Intense Bastard, April 5, 2018.


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  8. #8
    Good post. Iím a bit behind you but looking at the same crossroads in the future. I have a high paying job and am very blessed. It has some stress but it isnít too bad really. I am just getting to the point that I donít want to work for someone else. I love my company but I just donít want to work like this forever. I want to have time to do things that my career has prevented me from doing regularly. I am working through scenarios to retire at 50-55. If it looks like I need some additional income to make that work, Iím like you and donít know what I would do. I have an engineering degree but I left actual engineering long ago and donít want to go back to that. I manage, set strategy, etc and Iím not sure how that will translate to something else. I donít want to go work for a Deloitte or the like as a consultant in my industry. Thatís not retirement work to me. Thatís work. I think Iíll have to do something totally different on a part time basis and just step away from my industry. Itís a lot to think about for sure...


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  9. #9
    Quote Originally Posted by NTDawg View Post
    I will be 52 this year and will have over 29 years of service with my current employer. I have an old defined benefit retirement plan. I plan on retiring in the summer of 2022 or 2023. Current employer wants me to stay 5 more years but I donít see that happening. They might be convince me to stay to 2024 but Iím not feeling that right now.

    I will be too young to just retire and I probably need a little more income in addition to my pension. If want to maximize my income I would need to find work using my current "skills" (managing people and processes, project management and fixing problems, along with a host of typical administrative tasks from budgeting, to contract negotiation to HR). I think that finding that type of job and getting close to my current salary is not very likely and I'm sort of looking forward to doing something else with not necessarily less headaches but different ones. Maybe I could work somewhere that I am only responsible for a certain area than responsible for all of them, make less but not managing a lot of people. However, the idea of big change and not sitting behind a desk is appealing. The problem is I feel like outside of what I do I don't have any one area of expertise. I feel like the old saying ďJack of all trades and master of noneĒ applies to me. I have 18-30 months to figure it out.

    I thought about doing something that would be completely different like woodworking or a learning a trade. There was a post here a few months ago about a HVAC side hustle that was interesting. I have some rough carpentry abilities but not the skill of making furniture. I am thinking about setting up a shop in my garage, maybe it will never evolve beyond a hobby but who knows.

    Has anyone here made a similar transition to doing something completely different as a second career? If so do you have any advice? Or do you work or have knowledge of a field that someone could transition to.

    I am not extremely worried about figuring it out but it is hard to think about anything else. One thing I forgot to mention is that I am located in central Mississippi but that could change when I retire but I think I would like to stay in the South.

    Thanks in advance for any help.
    Find this intersection point:

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Views: 1504
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  10. #10
    President, John Cohen Fan Club
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    Quote Originally Posted by horshack View Post
    Find this intersection point:

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    Pimpin ainít easy!


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  11. #11
    Man I am envious. I had a mid-pay job which was also very high-pressure. And yes I had a ass-hole director. But, I'm retired, as is my wife, and we live ok in fairly good health. So what the hell, pour a little wine and enjoy the sunset.


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  12. #12
    Iíd hit it...


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  13. #13
    Quote Originally Posted by horshack View Post
    Find this intersection point:

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Views: 1504
Size:  20.5 KB
    The red circle gets me everytime**


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  14. #14

    Adjunct Instructor

    Quote Originally Posted by NTDawg View Post
    I will be 52 this year and will have over 29 years of service with my current employer. I have an old defined benefit retirement plan. I plan on retiring in the summer of 2022 or 2023. Current employer wants me to stay 5 more years but I donít see that happening. They might be convince me to stay to 2024 but Iím not feeling that right now.

    I will be too young to just retire and I probably need a little more income in addition to my pension. If want to maximize my income I would need to find work using my current "skills" (managing people and processes, project management and fixing problems, along with a host of typical administrative tasks from budgeting, to contract negotiation to HR). I think that finding that type of job and getting close to my current salary is not very likely and I'm sort of looking forward to doing something else with not necessarily less headaches but different ones. Maybe I could work somewhere that I am only responsible for a certain area than responsible for all of them, make less but not managing a lot of people. However, the idea of big change and not sitting behind a desk is appealing. The problem is I feel like outside of what I do I don't have any one area of expertise. I feel like the old saying ďJack of all trades and master of noneĒ applies to me. I have 18-30 months to figure it out.

    I thought about doing something that would be completely different like woodworking or a learning a trade. There was a post here a few months ago about a HVAC side hustle that was interesting. I have some rough carpentry abilities but not the skill of making furniture. I am thinking about setting up a shop in my garage, maybe it will never evolve beyond a hobby but who knows.

    Has anyone here made a similar transition to doing something completely different as a second career? If so do you have any advice? Or do you work or have knowledge of a field that someone could transition to.

    I am not extremely worried about figuring it out but it is hard to think about anything else. One thing I forgot to mention is that I am located in central Mississippi but that could change when I retire but I think I would like to stay in the South.

    Thanks in advance for any help.

    If you a certified Project Manager, PMP, we could use someone to teach a class in that at the community college level. In our Workforce Development. That is a sought after credential, and we usually turn to retirees to teach adjunct for us since other people are working !


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  15. #15

    Shalom my friend

    Quote Originally Posted by Shmuley View Post
    Glad to read this, Coach. Here's to a much better new year for you and yours.
    Líchaim
    I don't always drink but when I do I become a message board genius**


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  16. #16
    Quote Originally Posted by NTDawg View Post
    I will be 52 this year and will have over 29 years of service with my current employer. I have an old defined benefit retirement plan. I plan on retiring in the summer of 2022 or 2023. Current employer wants me to stay 5 more years but I donít see that happening. They might be convince me to stay to 2024 but Iím not feeling that right now.

    I will be too young to just retire and I probably need a little more income in addition to my pension. If want to maximize my income I would need to find work using my current "skills" (managing people and processes, project management and fixing problems, along with a host of typical administrative tasks from budgeting, to contract negotiation to HR). I think that finding that type of job and getting close to my current salary is not very likely and I'm sort of looking forward to doing something else with not necessarily less headaches but different ones. Maybe I could work somewhere that I am only responsible for a certain area than responsible for all of them, make less but not managing a lot of people. However, the idea of big change and not sitting behind a desk is appealing. The problem is I feel like outside of what I do I don't have any one area of expertise. I feel like the old saying ďJack of all trades and master of noneĒ applies to me. I have 18-30 months to figure it out.

    I thought about doing something that would be completely different like woodworking or a learning a trade. There was a post here a few months ago about a HVAC side hustle that was interesting. I have some rough carpentry abilities but not the skill of making furniture. I am thinking about setting up a shop in my garage, maybe it will never evolve beyond a hobby but who knows.

    Has anyone here made a similar transition to doing something completely different as a second career? If so do you have any advice? Or do you work or have knowledge of a field that someone could transition to.

    I am not extremely worried about figuring it out but it is hard to think about anything else. One thing I forgot to mention is that I am located in central Mississippi but that could change when I retire but I think I would like to stay in the South.

    Thanks in advance for any help.
    two words: bitcoin mining!

    or
    hvac - take a call when you feel like it
    bid to delivery amazon packages
    uber driver
    door dash
    airbnb some property


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  17. #17
    Why retired if you going to need additional money. Anyways I was going to retire at 63. I have a define benefit plan and a define contribution plan. I checked on the numbers and in my define benefit plan, it will pay 1200.00 more per month if I stay until age 65. It grow really fast during that period of time. However at 59.5 I am going to take all my define contribution plan money and pay off debt.


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  18. #18
    Dawgbite's Avatar
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    I quit my job of 34 years in March at the ripe old age of 55. I made a plan about 15-20 years ago to be able to do it. Iím not the type to just sit down and I feel certain that Iíll do something eventually but Iíve honestly not missed it. My next job, Iíll be responsible for me and only me. I was to the point that I was fed up with the BS and I left before I said or did something that I might regret. Just to put it in perspective, every night is Friday night and every day is Saturday!


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  19. #19
    Quote Originally Posted by Dawgbite View Post
    I quit my job of 34 years in March at the ripe old age of 55. I made a plan about 15-20 years ago to be able to do it. I’m not the type to just sit down and I feel certain that I’ll do something eventually but I’ve honestly not missed it. My next job, I’ll be responsible for me and only me. I was to the point that I was fed up with the BS and I left before I said or did something that I might regret. Just to put it in perspective, every night is Friday night and every day is Saturday!
    I have an advantage of working for a great company and could work until I was really old and be a happy. I really enjoy my job and make really good money for Miss. I do want to retire and travel with wife.


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  20. #20
    If you live around Jackson, there are always state jobs opening in Hinds and Rankin. Pick one of those up and grab 10 or 12 years of state retirement.


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  21. #21

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    I worked until I was 62, then retired and didn't want another job. It was becoming political, plus I was tired of traveling all the time. I actually have more money now than I ever did when working, but I was there almost 44 years (counting co-op time) so my retirement is pretty good.


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  22. #22
    Maroonbulldog's Avatar
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    Funny how topics appear sometimes that are very timely. Are we all just in the middle of the olde mid life crisis?


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  23. #23
    ^^^^Madison Pineapple Supply Chain Director


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  24. #24
    Really Rich fishwater99's Avatar
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    Walmart is always hiring greeters.

    But seriously, making more money is always great, but if you wake up every day and don't won't to go to work it's usually not worth it.


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  25. #25
    Dawgbite's Avatar
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    Quote Originally Posted by Maroonbulldog View Post
    Funny how topics appear sometimes that are very timely. Are we all just in the middle of the olde mid life crisis?
    That was about ten years ago when I bought the Ducati.


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  26. #26
    Better make sure your defined benefit plan gives you adequate benefits to actually retire. Most of those are (were) calculated to pay the maximum retirement benefits well beyond 52 years old for a given employee.


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  27. #27
    I'm 62 and just retired in Nov. Had a well paying job with high stress (36 years)managing major pipeline projects. I saved for this my whole life and actually am drawing more money now than when I was working and my money is still growing. I have a jam up MSU grad. managing my money for me. IF I do get bored later on, I plan to do some consulting for my company and/or some seasonal work in the Ag. field. Right now, I just plan on traveling around and showing my trucks! Have a blast doing that!


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  28. #28

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    I bought a Corvette about 20 years ago for my midlife crisis, had it totaled, bought another, but it was getting to the point that getting in and out was a chore. I traded the latest one last week for a new SUV - Audi SQ5. Hot little vehicle, has all the latest safety features, and I can get in and out easily.


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  29. #29
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    Quote Originally Posted by RocketDawg View Post
    I worked until I was 62, then retired and didn't want another job. It was becoming political, plus I was tired of traveling all the time. I actually have more money now than I ever did when working, but I was there almost 44 years (counting co-op time) so my retirement is pretty good.
    Good job.

    Wasn't up to me. I've tried to find something new but at 59 few give me much more than the obligatory hello - goodbye - thanks!

    It's partially my own fault for having many talents but expert of none that are in demand any longer.
    It's easier to fool people than it is to convince them they have been fooled.- Mark Twain



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  30. #30
    Dawgbite's Avatar
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    Quote Originally Posted by IBleedMaroonDawg View Post
    Good job.

    Wasn't up to me. I've tried to find something new but at 59 few give me much more than the obligatory hello - goodbye - thanks!

    It's partially my own fault for having many talents but expert of none that are in demand any longer.
    I was sorta in the same boat. I never took the time to get all the certificates to hang on the wall or list on a resume. Technology was passing me by and the cost of my experience was becoming a point of contention. My boss didnít bat an eye when I gave him six weeks notice. Hired his son for the position, gave my assistant a .50 per hour raise and all the responsibilities.


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  31. #31
    Quote Originally Posted by Maroonbulldog View Post
    Funny how topics appear sometimes that are very timely. Are we all just in the middle of the olde mid life crisis?

    Did somebody say I should buy a boat?


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  32. #32
    If you retire before the age of 65, what are the affordable insurance options? Many companies don't offer this anymore.


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  33. #33
    My background has taught me that Project Managers benefit greatly from the needed time and experience to recognize bullshit when they hear it, and maneuver circumstances to fix/rectify said bullshit. Stressful job.
    Last edited by T-TownDawgg; 01-13-2021 at 08:57 PM.


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  34. #34

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    They want you to stay. You want to keep working.

    Seems like you are in a good negotiation spot. More money? Same money little more time off? Less money and a lot more time off?

    Iíd ask for 40 hrs a week and double your current vacation. Or something along those lines.

    Guess it really depends on how much supplemental income you need?


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  35. #35
    I have noticed that a lot of companies want a general manager, but will not list the job as a GM. They come up with some name like supervisor of xxxxx then list the requirements for a GM. It is difficult switching jobs when you have 25 years or more. Over qualified is my favorite, in other words, they don't want to pay.


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  36. #36
    Quote Originally Posted by horshack View Post
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    i agree and assuming I do something new I need to figure it out and develop that new skill over next 18 months


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  37. #37
    Quote Originally Posted by GloryDawg View Post
    Why retired if you going to need additional money. Anyways I was going to retire at 63. I have a define benefit plan and a define contribution plan. I checked on the numbers and in my define benefit plan, it will pay 1200.00 more per month if I stay until age 65. It grow really fast during that period of time. However at 59.5 I am going to take all my define contribution plan money and pay off debt.
    To be honest I could make it without any additional income but some income on top of my pension will make it easier and if I’m not working I would be spending more.


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  38. #38
    Quote Originally Posted by OneParticularHarbor View Post
    Better make sure your defined benefit plan gives you adequate benefits to actually retire. Most of those are (were) calculated to pay the maximum retirement benefits well beyond 52 years old for a given employee.
    I have so many 17’n spreadsheets so that I can compare the benefit of working years and when I see what I am working for in additional retirement at some point it just isn’t worth it.


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  39. #39
    Good on you to have done your research. Good luck!


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  40. #40
    There's a very good book by Bob Buford called "Halftime" that's on point here. It's more about the big picture of shifting into a second career or retirement rather than specific nuts and bolts, but it was helpful to me.


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