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Sure I can do something, but the chances of starting over in a new career that will pay even half what I make now are slim. There is definitely an age where starting over gets harder because of ageism. The problem is I need to keep making enough to pay the fixed bills, including mortgage for years and years still. But a pension on top of SS would have been enough to get by.
I do hear that.
I'm mid-40s and I've gotten zero luck in trying to step down and make a change. It's the ugly, ugly side of the career workforce, and a big problem.
It's pretty brutal actually and why I argue for an overhaul of the labor force, while other people on this forum keep yapping ... "I deserve to be where I am or have my $5000/month pension because I'm smarter, worked, harder, etc, etc."
Ya know ... the world is not supposed to be an episode of National Geographic Safari.
That said, you're likely exaggerating. You and your fiance can piece together the mortgage payments I'm sure.
I'm mid-40s and I've gotten zero luck in trying to step down and make a change. It's the ugly, ugly side of the career workforce, and a big problem.
It's pretty brutal actually and why I argue for an overhaul of the labor force, while other people on this forum keep yapping ... "I deserve to be where I am or have my $5000/month pension because I'm smarter, worked, harder, etc, etc."
Ya know ... the world is not supposed to be an episode of National Geographic Safari.
That said, you're likely exaggerating. You and your fiance can piece together the mortgage payments I'm sure.
If not, you can downsize and minimize.
We don’t have the option of downsizing because we are upside down in the mortgage by a lot. My fiancé is in the same boat I am, older with a very physically demanding job that he won’t be able to do forever. Both of us have spine problems and our days in our respective fields are numbered. Right now we can make the mortgage but 2 years from now who knows. All I can do is take a day at a time and save what I can. But it’s hard not to worry about the future, and that’s what makes me think “If only I had stayed at that job all these worries would be over”.
Yes, indecision has cost me, too. I had an opportunity to buy a house in the town I used to live in for $55,000, but I didn’t know anything about houses and was afraid to make the wrong decision. Now there was an article in the paper last week that said the cheapest single family home in that town is $660,000.
Pfft.
EVERYBODY has that story.
I could have said if I put $10,000 on Amazon in 2009 look what I'd have now.
I still remember the radio commercials that used to come on while I was driving in my car. And I was like ... huh, online books...
We don’t have the option of downsizing because we are upside down in the mortgage by a lot. My fiancé is in the same boat I am, older with a very physically demanding job that he won’t be able to do forever. Both of us have spine problems and our days in our respective fields are numbered. Right now we can make the mortgage but 2 years from now who knows. All I can do is take a day at a time and save what I can. But it’s hard not to worry about the future, and that’s what makes me think “If only I had stayed at that job all these worries would be over”.
Maybe start a business.
You know (and I'm Jersey too where it's pricey) I have an old friend who quit his job as pharmacist and started his own business. He'd been doing it for like 20 years, and I thought to myself ... 'Wow, he did not strike me as the guy to take that risk.'
Of course, I don't know the whole story, but ... sometimes you gotta take a risk. Replace your regret with a bold move.
And here I am ... working a job that's killing me. I always thought I was a bigger risk taker than him.
You know (and I'm Jersey too where it's pricey) I have an old friend who quit his job as pharmacist and started his own business. He'd been doing it for like 20 years, and I thought to myself ... 'Wow, he did not strike me as the guy to take that risk.'
Of course, I don't know the whole story, but ... sometimes you gotta take a risk. Replace your regret with a bold move.
And here I am ... working a job that's killing me. I always thought I was a bigger risk taker than him.
I wouldn’t have any idea what kind of business though, and doubt I would qualify for loans. It is something I have thought about but am clueless what it would be.
We don’t have the option of downsizing because we are upside down in the mortgage by a lot. My fiancé is in the same boat I am, older with a very physically demanding job that he won’t be able to do forever. Both of us have spine problems and our days in our respective fields are numbered. Right now we can make the mortgage but 2 years from now who knows. All I can do is take a day at a time and save what I can. But it’s hard not to worry about the future, and that’s what makes me think “If only I had stayed at that job all these worries would be over”.
Well you have company with the house because we lost $100k when we bought in 2008 because you know the market crashed. If you come over my way near the high school, you'll see a new development going in next to mine that's in the $200's. We paid over $400k, put $100k down. It's why we're still here because we couldn't afford to bring money to the table. Unfortunately, we can't sell right now for other reasons.
Right now is a good time to sell at least where I'm at because prices went back up to what we paid. Maybe consult a realtor just to have them run some comps for you. If you did decide to sell, rent for a while then buy when the market goes back down because it will. I have a realtor friend that will run comps for you and not hound you. She will eventually list our house.
A guy will be messaging you to ask about nursing homes, I gave him the name of where my son's great gram was in North Jersey, he said he's looking down here too.
I wouldn’t have any idea what kind of business though, and doubt I would qualify for loans. It is something I have thought about but am clueless what it would be.
ocn... You may consider something like starting a Youtube channel. I don't know when monetization kicks in but I hear even a few thousand subscribers can start making you money, and if you get up to 100,000 subs it can actually make a good living I hear.
All you would need to give it a try would be creating a channel (free), a video camera, some topic ( or more tnan one topic) of interest that would attract online traffic and putting in some time. You can expand to other media platforms (Facebook, etc.) add a donation link like Patreon, etc. to increase traffic and profit. You would not have much to lose if it didn't pay off, and you might gain some skills, have some fun giving it a try.
A few channels I like that are doing quite well you may peruse for reference are as follows:
German In Venice: Films stories about himself, his hometown of Venice Beach California and surrounding areas. Over 100,000 subscribers.
Nick Johnson: Films States and Cities, gives reports on crime, quality of life, general stats on just about every element involving the state/city, etc...
Or just peruse some channels that might interest you, and see how they are doing.
Selling on Ebay might be another way to go with low (or no if your selling things you already own) initial investment. Do you make jewelry, any craft or hobby item you think you could sell?
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