U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-06-2009, 06:28 PM
 
Location: Miami, FL / Raleigh, NC
980 posts, read 1,927,584 times
Reputation: 606

Advertisements

I have spoken to people that are at the top or near the top of their profession and some has mentioned that if they could afford it, or once their kids are grown up, or once they have paid off their homes they would downgrade to a lower position and less pay to not deal with job related stress.

Has anyone who has retired or nearing retirement voluntarily changed jobs or positions with less responsibilities and less pay to enjoy a better quality of life even though they had anywhere between 5-10 years left to retirement but did not want to deal with overseeing a company, or supervise an operation or something similiar.

It seems that higher positions and higher earnings is great up to a certain point. That point is different for many people. Some people who have lots of money invested and have big savings can more easily take a pay cut than someone that doesn't have a bank roll. Again, there are those that not only care about the money but thrive in being in a high level position for status, or they enjoy the challenge of work etc.

I will be interested in hearing different opinions RE: this topic.
Reply With Quote Quick reply to this message

 
Old 12-06-2009, 06:43 PM
 
Location: SW MO
23,605 posts, read 31,471,910 times
Reputation: 29071
Quote:
Originally Posted by observer View Post
I have spoken to people that are at the top or near the top of their profession and some has mentioned that if they could afford it, or once their kids are grown up, or once they have paid off their homes they would downgrade to a lower position and less pay to not deal with job related stress.

Has anyone who has retired or nearing retirement voluntarily changed jobs or positions with less responsibilities and less pay to enjoy a better quality of life even though they had anywhere between 5-10 years left to retirement but did not want to deal with overseeing a company, or supervise an operation or something similiar.

It seems that higher positions and higher earnings is great up to a certain point. That point is different for many people. Some people who have lots of money invested and have big savings can more easily take a pay cut than someone that doesn't have a bank roll. Again, there are those that not only care about the money but thrive in being in a high level position for status, or they enjoy the challenge of work etc.

I will be interested in hearing different opinions RE: this topic.
Didn't do it but thought about it as my retirement was based upon my highest paid year regardless of my final earnings. Had I not retired when I did (last year) and if I had wanted to work a few more years, I'd have hung onto my senior manager position for one of them and then demoted voluntarily. Sometimes management and supervision can be like trying to herd cats and not worth either the pay or the accompanying long hours and stress.
Reply With Quote Quick reply to this message
 
Old 12-06-2009, 09:32 PM
 
Location: Sacramento
13,784 posts, read 23,803,102 times
Reputation: 6195
Didn't do it myself, because I like challenges and enjoyed my relationships when in management. I recall a couple of folks who did though, and they didn't seem to regret the decisions.

To me, it was an hours issue. As long as I was able to be home by 6:30 in the evening, I didn't feel any substantial burden from a higher profile job. I think it all comes down to how much stress you feel from the position, and how much time is required as compared to alternatives.

In my case, the blackberry made it possible to minimize the extra time required at the job. Checking in a few times an evening wasn't a burden to me, and the job didn't consume my attention when at home. I was always able to "compartmentalize" my work, so it didn't become an issue of too much pressure or burden, while still appropriately executing my responsibilities.
Reply With Quote Quick reply to this message
 
Old 12-06-2009, 11:49 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,545 posts, read 39,924,861 times
Reputation: 23658
I gave up my job of 32 yrs just prior to retirement eligibility, so 2 workers with young families would not be cut. I had 2 kids in college at the time and was the sole wage earner. While I'm glad the workers with families have survived 5 additional yrs since my departure and folks being cut on all sides.
My own final yr was training a subcontractor from India and a company employee from Singapore who each shadowed me and sat on each side of my cube, following my every move for 1+ yr. I never traveled with them, as I would just 'disappear', when I needed to travel. (I HATE traveling with co-workers, I like to engage in the cultures and businesses I visit, not be some 'groupy' from the mother company the suppresses it's slaves (subcontractors) and sits around hotel lobbies when in foreign countries and fun cities. I left my employment in a hurry and wished them luck. (they both quit and got better jobs with competitors due to their 'relevant' experience, and lax 'non-compete' employment rules )

Giving up my job has not come without pain on my part; like not having healthcare benefits ... and still 12 yrs away from medicare. It was not additional pain for my college kids, as I never offered them a 'rose-garden', (or $.01 for college funding). They knew they were on the hook for that , as a matter of parenting 'principle'. I had funded their ROTHs since they were age 12 (I matched their earned income up to ROTH Max, IF they would stick it in a ROTH - a 'parental 401K' if you will ). They both had $20k + in ROTHs at college age, as well as $70k each in home equity for houses they HAD to each build from scratch as home school projects (which they HATED btw). (Life 'ain't ez being a PARENT, as most of you know).

I know many who took lessor positions as they got prepared for retirement, usually to give others a chance to learn and for the retirees to mentor, or actually have FUN their last few yrs. This can be very beneficial to all. Company gets replacements 'on-board' while retiree is still around. Company learns from the transition, Replacements learn from Retiree, and Retiree learns to "lighten-up' in preparation for 'FREEDOM'. We take our work way too serious, they will get along without us just fine, if not they will hire a few more, and if that doesn't work they will go broke before they 'swallow their pride' and call us for help or advice (some are this stubborn, not all).

I actually think companies should be partnering with local schools and teaming up students w/ experienced works across functions. So students will get applicable experience + exposure to working environment, Experienced employees get to pass on skills and learn to train / be patient (good training for 'care-giving'), Companies benefit from potential flow of workers, fresh blood, and lower labor costs. I was really lucky to get interns at work and I loved it. I had college kids, so would have them do MOST of my work, including jumping on a plane and traveling to a supplier to solve a problem~ By Themselves ! Usually near the end of their tenure. They appreciated getting the responsibilities and being considered a full peer. They each also got job offers in other divisions of the company and had successful careers.
Reply With Quote Quick reply to this message
 
Old 12-07-2009, 08:03 AM
 
Location: SW MO
23,605 posts, read 31,471,910 times
Reputation: 29071
Quote:
Originally Posted by NewToCA View Post
Didn't do it myself, because I like challenges and enjoyed my relationships when in management. I recall a couple of folks who did though, and they didn't seem to regret the decisions.

To me, it was an hours issue. As long as I was able to be home by 6:30 in the evening, I didn't feel any substantial burden from a higher profile job. I think it all comes down to how much stress you feel from the position, and how much time is required as compared to alternatives.

In my case, the blackberry made it possible to minimize the extra time required at the job. Checking in a few times an evening wasn't a burden to me, and the job didn't consume my attention when at home. I was always able to "compartmentalize" my work, so it didn't become an issue of too much pressure or burden, while still appropriately executing my responsibilities.
You were a lucky one. I could never leave the job behind totally. I was constantly on-call to our governor's office, our agency and half the Legislature had my phone numbers and e-mail address. Many was the time I'd be called back late in the evening and have to work again until the wee, small hours of the morning, especially during state budget cycles. The most memorable call-back came when I was home and sick as a dog with pneumonia.
Reply With Quote Quick reply to this message
 
Old 12-07-2009, 08:55 AM
 
Location: Jollyville, TX
3,850 posts, read 9,438,969 times
Reputation: 4392
I'm at that stage where I am wanting to do it. I tried it once. I took a job with a small company with significantly reduced pay and benefits. It turned out to be a nightmare and I quit after a month and went back to the corporate world.

The hard part is convincing a company to hire you in spite of your age and qualifications.
Reply With Quote Quick reply to this message
 
Old 12-07-2009, 09:05 AM
 
48,516 posts, read 83,901,398 times
Reputation: 18049
I know lots of people who have done it by going under contract and becomeing more advisors to their company. But they didn't really take much of a cut in that they retired and were reghired at a higher compansting rate. I alos know many doctors that more or lesss semi-retired and took only patients with porivte insurance or cash. There are alot of profeesions that go into consulting as they get near retirement.
Reply With Quote Quick reply to this message
 
Old 12-23-2009, 10:38 AM
 
28 posts, read 79,335 times
Reputation: 55
Hello! I didn't exactly choose to downgrade my position and salary. Rather, I was facing forced early retirement or taking a lesser paying, less prestigious position and I said Yes! So, as it turns out, I am very glad about this development because I am now working overseas and having experiences I only dreamed about during my higher status and paid position in management with the Federal govt. Now that my kids are grown and finishing college, I can still grow and see the world with less stress. I hope that when I am ready to retire, I will have the resources for a comfortable old age and am contributing towards that. But the real issue for me has become living authentically in the present. In order to do that successfully, I had to leave the pressure-cooker behind and I did. Although moving far away from friends and family to pursue a new adventure has been stressful, it is worth it to me because now I can offer them a place to stay in Europe where they can expand their horizons.
Reply With Quote Quick reply to this message
 
Old 12-30-2009, 08:04 AM
 
7,979 posts, read 11,655,757 times
Reputation: 10473
I've sort of done it in place. While other younger workers are going into the boss' office and badgering them with how valuable they are and ought to be in a higher pay grade etc. I told my boss - I don't want to be promoted, I'm comfortable where I am. I want to come in, do an honest days work and go home. If there is a need to surge longer hours for some event I'm absolutely fine with that. All very shocking and looked down on I must say.
My boss is very driven which is great for him. He obviously likes and prefers his also driven workers. That worries me a bit but so be it. I provide a lot of stability and continuity.
I do find it irritating that these driven bosses don't have a problem with their driven employees who spend half the day roaming around b**s****ng to network and make sure everyone knows how they had to stay late the night before and work on the weekend. The boss eats it up but honestly if they didn't bs as much they wouldn't have to work late. Whatever. As long as I am allowed to contribute to the work we do at my current level without being forced into playing office politics (which I find VERY stressful) I'm good. They can look down on my all they want. They are 30 and I'm 53, counting down to retiring at 60 (fingers crossed)
Reply With Quote Quick reply to this message
 
Old 12-30-2009, 08:21 AM
 
6,234 posts, read 4,721,373 times
Reputation: 12751
I suspect the plan to downgrade would not work very often. Just because the job has a lower status and lower pay does not mean it will be easier or less stressful. Have you ever worked in low paid jobs such as food service? Those jobs are usually not easy.

I am more like Giesela, except I did not go to my employer and let them know I wanted less stress. I just stopped working so hard and put much, much less of myself into the job. I actually found that my job performance is much more appreciated. From my own perspective I don't care and let a lot of things slide. My boss thinks I have gotten better because I never push my own beliefs but just go along with the current idiotic corporate culture. At least I don't have to last it out for 7 more years. At this point I hope to have less than a year left.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top