Author Topic: Is anyone else seeking FI because of job instability?  (Read 14593 times)

Daisy

  • Handlebar Stache
  • *****
  • Posts: 1968
Re: Is anyone else seeking FI because of job instability?
« Reply #50 on: February 12, 2015, 07:52:50 PM »
Kind of...in that I work in software which is ever-changing, have no interest to update my skills, and my company is going through hard times. I would still want to FIRE anyways, but I know if I get let go it will be:
...

This describes a good chunk of my urge to FIRE as well. If it makes you feel any better, practically everyone in software or technology has these underlying feelings of exhaustion and anxiety pinned to the fact that there's too much to learn in an ever-changing field.  Every 3-4years, you look around, and so much is different:  New models, new APIs, new hardware and software and tools, evolved consumer expectations, updated integration points, new ways of working.  At the same time you're learning all of this new stuff, you need to keep a large portion of the old junk in your head too, because you probably still need to support it -- or some of the new stuff has been built on top of (embedded) on the original tech.  If you aren't 110% dedicated geek, this is going to get old at some point.

I don't read up on this on my free time, and don't enjoy casual conversations about it as others do outside of work. I don't keep up with the latest.

I'm glad I decided to poke my head in this thread, this is exactly how I've been feeling the past few years (sys admin), and it has very much become my main driver towards FI.  To the point where my current job is not great but good and I'm hoping I can ride it out till I'm FI and then reevaluate.  I can't imagine job hunting and starting over at a new company at this point with the learning curve required.  I just... don't... care anymore (about I.T.).  It's good to read others describe the exact things I'm feeling and knowing I'm not the only one.

I'm happy to see others feel this way too.

I recently read through some job openings for a couple of companies around me that some have been leaving from my company to. When I read the job descriptions and think about interviewing for one of them and the types of questions they'd ask, it just makes me want to cry. I'm so happy to be almost FIRE'd.

Now all I need is for my company to lay me off...preferably by the end of the year as that timeline works for me. ;-)

Lian

  • Stubble
  • **
  • Posts: 141
Re: Is anyone else seeking FI because of job instability?
« Reply #51 on: February 14, 2015, 09:35:12 AM »
Job instability is not my primary motivator, but it is a factor. There has been “credentials creep” in my industry. I’m over 50 with a B.S. in a field filled with masters and PhDs.  I was very lucky to get a job last year after a long term lay-off. Don’t expect to be that lucky after the next lay-off (common in my industry). It makes no sense to spend the time and incur a big student loan debt for a degree with no guarantee that I would still be employable in my field (I’m advanced in years if not in credentials), so I need to get FI ASAP. Also, I like my work, but hate the corporate culture – I never did fit, and have little patience for it anymore.

Schaefer Light

  • Handlebar Stache
  • *****
  • Posts: 1062
Re: Is anyone else seeking FI because of job instability?
« Reply #52 on: February 15, 2015, 09:39:06 AM »
I'm seeking FI not so much because of instability at my current workplace, but because I don't know how easily I could find a new job if I was to lose my current one.  I'm a generalist working in a fairly technical field and it seems like all the job postings in this field are targeted at specialists (i.e. people who have certifications for their knowledge of different types of networking equipment).  On top of that, this is a field where a small number of companies control 90+ percent of the market.  I've seen what those companies are like and don't have any real interest in working for them, anyway.

MandalayVA

  • Handlebar Stache
  • *****
  • Posts: 1583
  • Location: Orlando FL
Re: Is anyone else seeking FI because of job instability?
« Reply #53 on: February 16, 2015, 10:09:00 AM »
Job instability plays a big factor.  Mr. Mandalay and I work for the same Ginormocorp, who bought out our original company ten years ago.  Since then a lot of departments have been "migrated," which is Ginormocorp-speak for "moved out of Richmond."  Mr. Mandalay got caught a couple of years ago but was fortunate to be found another position--but now that's looking unsteady too.  My position's pretty safe because Ginormocorp still doesn't quite understand what we do, but I'm 48 without a degree and if something did happen I'd be screwed as far as being able to find a job that pays a comparable salary to what I make now.

iamlindoro

  • Handlebar Stache
  • *****
  • Posts: 1520
    • The Earth Awaits
Re: Is anyone else seeking FI because of job instability?
« Reply #54 on: February 16, 2015, 10:54:35 AM »
I guess I would term my motivation "compensation instability" more than job instability.  I have had the good fortune to make very good money as a consultant the past 18 months or so, and am on the verge of taking a new contract that *should* go 2-3 years with even better compensation.  At the rate I expect to save in the next 3 years, FIRE with basically no reduction in expenses in 6 years is pretty realistic.  So, my goal is to get to a point where we could technically FIRE someplace modest before the end of this contract, and then take every day past that as an opportunity to pad the safe withdrawal rate and increase our options in retirement.  1-2 years would get us to the "safe to retire and live like kings in a low COL country" status, 3 years gets us to "safe to retire and live like kings in a low COL state of the USA" status, and 5-6 years gets us to "safe to retire anywhere we want and live like kings" status.

The trick is that I don't know what the landscape will be in 3 years, and finding another position with this kind of income may be very, very hard.  I might be forced to take a position for half or less of the income, and if we drag our feet on savings and investments while income is high, that could really delay FI.  I don't want to assume that the money firehose will simply run forever.