Is it stupid to push for career advancement when I see the end?

[phxguy23]

Hi all,

As a bit of background, I'm 34 and work in tech (like many of you). I moved into the management side of things a few years ago and like it enough that I've been pushing for promotions and related career-advancement over the last few years. In fact, I'm about to take the GRE next week in the hope of enrolling in my second Masters program (my first was in CS, this one would be in Management Science).

Here's the thing - I just recently passed the magic 25x expenses number. Granted, some people don't believe in the 4% rule, and I fully understand that my expenses might go up over time (currently single). Nevertheless, even if I have to work for another 5-10 years at the max, it seems that I'm nearing the end.

Is it silly to push and push for more responsibility, another degree, etc, at this point?

[alphalemming]

I don't think so, especially if that kind of stuff is fulfilling to you.  It could also boost some of your credentials and provide some more options down the road if you wanted to work part time/consult periodically.

[Cassie]

If you enjoy the work and/or going to school I would do it.  If not-don't.  As you mentioned since you are single but may not remain that way you will need much more $ to retire if you take on a wife and/or kids.

[Gone Fishing]

What they said.  Just don't go and do something dumb like investing more than 10-20% of your stache in some well thought out start-up that will require twice as much as you thought to get off the ground.  Watch out for lifestyle inflation as well as you continue to work, a little is fine as long as you stay within the parameters of the income your stach can produce, go beyond that and you might get hooked.  Also watch out for "one more year" syndrome when the fun is over...

[tyler1215]

Dude, That's awesome!  I'm kinda in the same boat.  I keep getting more responsibility and moving up into management roles and having input on the strategic direction of the company. 

My mentality would (is) this, when you hit your number then life only gets better.  Find some things in your life and make some upgrades for a strategically planned higher quality of life.  If you're driving a ten year old Honda, maybe divert some savings into buying a new Honda or a BMW.  Divert extra savings into remodeling the house.  Buy an investment property.  Play the stock market with individual stocks.  The longer you don't touch the stache, the more it will grow on its own.  You could take the money that was going to the stashe and do other things with it now.

I talk about this topic with other managers all the time.  One in particular says that if he won the lottery, he would still come in to work but now he could be more opinionated without fear of life changing repercussions.  That's you!

Or you can work towards an epic FU story.  There is a thread for that, but I have yet to see the one that says "I worked up the C-Suite, did that until I got bored and said "see ya' ".

[Nords]

Here's the thing - I just recently passed the magic 25x expenses number. Granted, some people don't believe in the 4% rule, and I fully understand that my expenses might go up over time (currently single). Nevertheless, even if I have to work for another 5-10 years at the max, it seems that I'm nearing the end.
Is it silly to push and push for more responsibility, another degree, etc, at this point?

The founder of Early-Retirement.org, Dory36, has a philosophy for this debate.  Admittedly he's still working, but he's doing it for fun.

He says that everyone goes through life carrying two buckets:  an assets bucket and a BS bucket.  Both of them fill slowly and can occasionally be dumped out, but the trick is to fill the assets bucket without filling the BS bucket.

Once the assets bucket is full, you'll find that you have absolutely no patience for the BS bucket. 

You're at the point where you're working for fun.  If you're still having fun then keep doing it.  If you're not having fun then go find some other way to entertain yourself...

Personally I'd want to audit all of the managers who have an alleged "management science" degree to see whether the curriculum really works.  But that's just because "management science" sounds oxymoronic.  When did we need a graduate degree program to teach adults the concept of "Take care of your people"?

[phxguy23]

If you're driving a ten year old Honda, maybe divert some savings into buying a new Honda or a BMW. 

That's an 18-year old Civic in the garage, thank you very much. (105k miles!) ;-)

[phxguy23]

Personally I'd want to audit all of the managers who have an alleged "management science" degree to see whether the curriculum really works.  But that's just because "management science" sounds oxymoronic.  When did we need a graduate degree program to teach adults the concept of "Take care of your people"?

I see your point on the degree program, although I'll stand by the decision. The naming is off - it's really just a degree in Engineering Management, from a school whose name rhymes with Manford. My intention isn't to learn how to take care of my team - it's to supplement my knowledge in other areas that will help me do my job (and that I find interesting). I could go for an MBA, but I wouldn't be able to get in to that particular school's program. If I don't get in to the program I want, I may consider an MBA at a slightly less prestigious place.

[TrulyStashin]

To paraphrase Sheryl Sandberg (Lean In -- even you fellas should read it):

Don't leave until you leave.

[Thegoblinchief]

A degree in Management Science sounds like a special kind of hell (to me). Why on earth would you put yourself through that?

[Lis]

Just because you hit your magic number doesn't mean you automatically have to leave that job! FIRE is about being able to do things that are fulfilling and worthwhile to you. For most people, that means quitting that 9-5 job. But if continuing your education and working your way up the ladder is what makes you happy, who are we to say that that's wrong?

If you're currently following the MMM lifestyle and saving appropriately, I wouldn't stop that. Keep doing what makes you happy, because if it ever stops making you happy, or you find something else that will make you happier, it'll be so much stressful knowing you don't HAVE to work, but you're are for the enjoyment.

[tyler1215]

If you're driving a ten year old Honda, maybe divert some savings into buying a new Honda or a BMW. 

That's an 18-year old Civic in the garage, thank you very much. (105k miles!) ;-)

I used my 10-year old Accord with 200k miles for that example. Come talk to me when you finally break-in that Civic. LOL

[yddeyma]

Okay, I'm showing my nerd here, but I LOVE learning.  And I really like learning in a classroom environment (I enjoy the structure).  Its hard for me to self-motivate and learn from places like Ted Talks or Treehouse, etc. 

If you like it, enjoy school, like your work then yes you should go.  And if your company will foot the bill, even better.  Learning new things is never a waste, even if you don't use your education in a traditional way.

That said, do you really need a 2nd masters to get promoted?  If your goal is promotion, I would evaluate whether the masters is really necessary.  But like I said, I love school and go back every chance I get!

[oldtoyota]

Since no one else has mentioned it yet, I'll pipe up and say this: "$$$$$$$$."

How much does the management science program cost? I thought about getting the MBA, but the $90K cost would delay my FIRE plans by too much. I said no to that. I can make enough without another degree, and that works for me.