I currently earn 41k and am considering applying for a job earning 35k top whack. I dont really enjoy my current job which is often stressful and requires me to be away from my family 2 nights a week. The 35k job wouldnt require me to be away and would be in a less stressful job in a field that i think i would enjoy a lot more. 6k is however a big drop and is a drop in the career ladder that i might never recoup. At 46 what would you do?

Life is short. Do what makes you happy.

Can you live on 300 less per month, any potential to make up the earnings over time, will travel cost less or is there anything you can save money on?

In 1999 I was earning £35k, but couldn’t afford to start a family living where we were. We moved somewhere cheaper on the back of MrsMC job, I’ve bummed around in a variety of jobs, now part time earning £15k.

Have a great work/life balance, great kids, not enough spare money!

Money alone is a very poor measure of “wealth”.

A career is just a job that has gone on too long.

Enjoy your family now whilst you can. They grow up quickly. It seems like only yesterday that my kids were in nappies and they’re now 19, 17 and 15.

I’m not far off the same age now as my father in law was when I met my wife and he’s 80 next year.

You’re a long time dead.

Get up looking forward to going to work and leave work looking forward to seeing your family.

46 = 20 years (as near as damnit) until retirement, maybe more. Thats a long time doing something you don’t enjoy.

Only you can answer your question but hopefully some of the above will help.

Rich.

Youll earn a lot less stacking shelves in Tesco, but staff who do that seem happy, just dont waste so much money, and go for the other job.

I earned just shy of £50k last year and I’ve quit my job leaving on the 30th. I’m riding bikes and drinking beers for July, spending a couple of weeks in Sweden in August, worrying about finding a job in September.

When I’m back in work I’ll be looking at a max basic of £35k aswell, more than enough money to lead a comfortable life if you get your priorities right. Surely you’ll be happier on less money and actually enjoying life.

Money alone is a very poor measure of “wealth”.

Well said.

A couple of years ago I was earning good money but totally hated my job and the culture at the company where I worked. I also had to do a lot of driving for work and was getting sick of it all. Redundancy came calling and I worked for myself for a couple of years which I enjoyed but never managed to make the money I wanted and I was stupid hours. I never managed to find the sweet spot I was looking for but it was a good way to press the reset button on my career and my expectations.

Fast forward to the start of May and I took on a job that pays about 10-11 grand less than I was on a couple of years ago but I work with people I like, I get to walk to work and, much like working for myself, I get to see what I’ve achieved at the end of each day. Money truly isn’t everything. Lifes too short to spend chasing it.

Well at your age I walked out of a job that paid a bit more than yours, so voluntarily took a much bigger pay cut. Don’t regret it for a minute (though I do regret that the job wasn’t better). Life is too short to waste it doing stuff you don’t enjoy, if you have an alternative.

48 years young here, in December 2015 I moved the same direction downwards in salary.
Now I’m home every night, after 21 years of hotels throughout the week.
Yes the salary is lower but so is the tax I pay, so what looked like a big drop on paper wasn’t that bad in reality.

I love my new job, it’s the best one I’ve had in 15 years.

In your new job just don’t look at XT upgrades when Deore is almost as good.

Enjoy your life again and get your notice in

Just don’t try and explain it to our colleagues.

My colleagues think I’m mental as I am happy to take a paycut- to stay at home rather than travel the world.

Life is short. Do what makes you happy.

You don’t need any more advice than this.

Life is for living.

I’m your age (nearly!) & redundancy just over 5 years ago gave me the shove I needed to make the equivalent choice you are now considering. Money really doesn’t equate to happiness – I think the research shows that once you go over £30k successive increases do very little to ‘up’ the happiness quotient. Careers were something that our generation was taught we really should aspire to. Straying off the path of qualifications and progression through a series of jobs on an ‘upward’ curve of salary and responsibility just isn’t the done thing is it? My parents can barely disguise their disappointment that I am not now a senior civil servant doing ‘important’ things.

But for an increasing number of people – see above- it’s exactly what you need to do to reclaim the things in your life that really are important. I now work with a great bunch of people, laugh every day at work & am pretty much stress free. The fact that you are asking means you already know what to do. Good luck!

Don’t treat it as the well paying hated job vs the lower paid (maybe) happyier job. You’re clearly job hunting, so hang in there until the right job comes up. Don’t settle for second best!

What job is it, can I apply 😉

I’ve recently asked a similar -ish question and got some amazing replies would recommend a read. All I would say is go for it, life is incredibly short and you may not be here tomorrow so why not enjoy today.

Took and £18k pay cut at 42. Now have less money but more time with family. Looking back my biggest regret was how much time I spent working. I seem to have little or no memories of my lad when he was small.

You never know how the new job is going to turn out so perhpas that’s the unkown factor causing you to hesitate?

If it’s just the money and you’re sure you can do without the salary drop don’t let that stand in your way.

I took a 35k pay cut to 25k when I had my 2nd child in 09 and don’t regret it at all. I realised how much we wasted on pretty much everything really. My wife’s wages have gone up considerably since then (not the difference though) and I just have a great balance being able to take kids to school / pick them up and generally spend more time with them (also loads more opportunity to ride). Depends really if you can live on the new wage and if you can then make a change, you spend a long time at work and you might as well make it as enjoyable as possible.

I don’t see the stupid
“nobody wrote on their headstone wish I’d spent more time at work”

The better version is I wish I’d worked smarter.

Get out a pad of paper.
Write down what pisses you off about your current job.
Write down what the new job would mean.
Write down 300quid/month in savings that you and your family are happy make.

Then take a look, whats better about the new job, what are the pension implications, what are the retirement implications. Whats your mortgage situation – ie if you can make 300 quids worth of savings, overpay your mortgage for 2 years does that change your overall options?

As an example my mother worked damm hard through my school years, long days as a teacher, night school, distance learning and eneded up being very good at what she did, in a good place and able to retire a good 5 or 10 years before a lot of people. I’m happy that her and my Dad can take nice holidays and enjoy getting old. She could have spent more time with us at a time that I don’t remember that much about and ended up working till 65.

I used to work in London for about twice what I’m on now.

But it took me almost 4 hrs. a day to commute, plus about 7k in cost.

I was cash rich but time poor and miserable as a result.

If you think you’ll enjoy it a lot more, that will shine through, you’ll be more motivated, more diligent and more effective. If the company is half decent, these things might get recognised and you might get promotion/more money etc…

I made a similar move about a year ago, was realistic that the new job wouldn’t be ‘perfect’ but overall it was a good move. Less money but less time in hotels, more time with the family and fitter (more riding to work and less hotel dinners!)

It can be a difficult decision esp if you’re the main earner as somewhere deep down you feel that you’re letting people down by not sacrificing yourself and bringing in less money. But don’t get tangled up in all that, do what makes you happy, as that makes you more fun to be around too.

£300 a month is a lot but not a massive amount in the big scheme of things. I reckon most household budgets could make some savings fairly easily.

And most importantly as said above, kids grow up quickly, enjoy your time with them.

Thanks very much for responses. Lots of good points. I think one of my main concerns as pointed out is needing the money to support my family. My eldest is 16 and likely to be at uni in a couple of years with associated costs. Wife sympathetic but really quite concerned about having less money – not being unsupportive, just honest. I also agree that fear of unknown is a factor. I’ll continue to mull and let you know if anything life changing results.
Cheers

17 years ago I was on 31k, in an ok job in an ok town and with a nice house. Now I’m on 24k, working far longer hours, in a ruin of a place, and much happier.

Beyond a certain (usually quite low) threshold, more money really doesn’t make you happier… just more comfortable.

As long as you can manage on £35k in your situation then it sounds like a no-brainer to me. I’d gladly drop £6k for a job I actually enjoyed and gave me more free time but I can’t think of anything I’d enjoy doing so I’m stuck here…

How will you cope – £35k a year and a job you’d enjoy? You poor soul! Come here… let me give you a big man-hug.

Considering £41k is worth £2580.60 per month with no deductions other than Tax & NI and £35k is worth £2240.60 in the same scenario.

Is £16 per day worth to spend seemingly reluctant time away from home?

A pay cut of £6k doesn’t seem too much unless you’re maxed out on credit cards and mortgage currently.