Advice on career/Mustachian crossroads

[apoclater]

Hi all, just wanted to say how much I appreciate this community and the depth of knowledge here, it's truly amazing!  I've learned so much and put myself in a much better position financially and now I'm looking to work on my career as well.

I'm an IT/Operations Project Manager at a Fortune 500 firm and frankly, I can't stand it.  I'm a bit of a control person and I feel like a PM in a matrix environment has the opposite of control.  My projects are going fine and I've done quite well so far in my job, but I am realizing that the lack of control, the feeling I can't "leave my job at the office", and thefeeling like not I'm doing any "real" work are already giving me the "burnout" itch.  The problem is, I don't have the skills or expertise to move into an individual contributor role, but I don't have the experience to start managing people. I could always move companies, but I honestly don't think much is going to change.  That being said, I'm actively preparing to pass my PMP (why? I hate project management) which would give me a decent ($5-10k) bump if I would move companies.

On the other hand, I think that this job isn't so bad.  Sure, I don't love it, but it pays well, doesn't require more than 8-9 hour days, and allows me to work from home whenever I want. 

I've been sticking it out since in 3 months my company contribution/match to my 401k is fully vested.  After that, I have the freedom to move without fearing that I'll lose that money.

For some background, I'm a 26 year old single guy grossing $70k/year in a midwest city.  I haven't been saving ridiculously well in the past, but I've started to improve my finances and I should start to save ~30k/year, 18k in my 401k and the rest after-tax savings.  I have no debt, $50k net worth, live with roommates, and don't have any big expenses.  I have a bachelor's in Information Science and Operations.

With all that said, I had three potential plans, and am completely open to more options:

1. Stick to it.  The job will start to become automatic and I can go on autopilot, happily taking raises, promotions, and etc until I save enough for an early retirement at around 40-45 years old.

2. Quit, and start learning a trade (electrician, plumber, etc).  Yes, I'll probably start at a lower income but I think I'm savvy enough to start my own business.  I'd feel like I'm actually doing "real work" that's valuable and I'd feel more accomplished.

3. Quit, and start my own business.  Above all, this is what I really want to do.  Again, I think I'm savvy enough to execute this, the problem is I just don't have an idea.  I just don't "know" anything that well, besides project management and cooking.  And frankly, starting a restaurant is so incredibly risky I'd rather stick to the job I have now.

Anyone have any advice?  Would love to hear from current/former PM's in particular.

[HairyUpperLip]

having done labor to IT myself I would say stick with the IT road.

I often miss manual labor and day dream about it. it was a lot less stressful but you are educated on a higher pay scale. if you dislike it, just use it as your motivation to save even more.

if you achieve FI, then you can pursue a business that interests you without all the extra risk.

you are young and have plenty of
time to make big things happen if you just start savings now.

just my two cents


oh, you will make more if you leave the Midwest as well. likely with only a slightly higher cost of living unless you hit one of the mega cities.

my two cents.

[HappierAtHome]

If you're 26 and already earning $70k, shouldn't you be able to FIRE much earlier than 40 - 45?

I'm sort-of in your shoes... my job has some wonderful, fulfilling aspects to it, but also a lot of frustration and bullshit. I'm also 26, earning a higher salary than you but in a high cost of living country.

My aim is to be well and truly FI in my early 30s, so I can either work part time (which means you can enjoy the enjoyable aspects of your job without the crap getting to you) or go into something else. (Of course as a girl, this all depends a lot on what happens with children etc).

To me, this is the best of both worlds: get the benefits of a well paid job while you're young, then switch into something else for a second career or retirement. Just my two cents :-)

[CDP45]

I felt like you did. Sitting in cube land all day sucks for men under 30, but when you get married and start slowing down a bit you'll really appreciate cashing fat paychecks and exponentially growing your stash. You'll be comfy, knowledgeable, and start to build a strong network. Because you're not a new biz owner you don't have to work 80+ hours wk and can focus on finding your dream girl and building your career. It's tough because I see millionaire biz owners all the time, but I can't imagine how many have failed. It's a big paycheck to sacrifice and if plumbing isn't your passion, you may want to keep your day job.  Plus you have to time explore other things, do that. Spend some time after work and weekends  shadowing and talking with people in the fields you're interests in.

[mxt0133]

I pretty much in the same exact position as you were in when I was your age.  Making good money at an easy job but was bored.  Like you ,I continued to educate myself, complete grad school and switched jobs.  Work was slightly more interesting and challenging, but eventually that got old as well. 

You listed some choices that you are considering, but I would like to expand on those choices.

For #1, you don't have to stick it out at the same job, move around, keep expanding your skill set to allow you to increase your pay and shorten your time FI.

For #2, you don't have to quit to learn a new skill/trade.  Since you can work from home a lot that gives you flexibility to take side jobs.  Try to time shift as much as you can so that you can do some side jobs to gain more experience, while banking the money from your day job.  Get creative, volunteer for habitat for humanity or be an assistant on weekends or nights.

Same for #3, use the steady cash flow of your day job to fund your business idea.  Nothing worse than having a business idea and running out of money before it can take off.

Basically don't give your elf these false all or nothing choices.  You have a lot of options right now, no debts, no kids, and a lot of flexibility.  I would reflect more on your real interests and goals, and then make a plan to make it happen.

[Cottonswab]

First bit of advice.  List all of the aspects of your past and current jobs that you like the most.  Then list all the aspects that you like the least.  Rank both lists.  Look for opportunities that maximize the aspects that you like and minimize those you do not like. 

Second bit of advice.  Do not start a business, until you have rock-solid business plan.  If you cannot come up with your own idea, steal someone else's and out compete them or move into a different market. 

For example, I enjoy:
- non-repetitive work that allows some creativity
- technical problem solving
- ...

I dislike:
- people problem solving
- administration and accounting
- selling myself/sales
- ...

Careers that would suit me:
- engineering consulting
- mechanic
...

Careers that would not suit me:
- general management
- accountant
- factory drone
- social worker
- human resources
...

From your OP, I would look into Project Management at companies with different organizational structures and values and starting your own small IT consulting company with someone with good technical skills. 

[apoclater]

Thanks all, this is great advice.  I'm going to follow through with getting my PMP for the time being, and concentrate on some potential side-hustles after that.  You are all correct - the money is too good to give up right now and it's not THAT bad, why not keep the status quo while exploring other options?

If anyone has additional advice, I'd gladly take it!  Again, thanks to those who posted.