Switching to a lower paying job

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Spouse makes $170k plus small bonus (maybe $5-10k a year), so this would be a big drop for us. We ran some numbers and spouse and I agreed that looking at the numbers, our deficit would be around $30k a year without me working. Hence, teaching job..

I'd suggest cutting expenses (and see if you like living like that), while doing that for 6-12 months, funnel all of your "extra income" into college for the kids. The older two should have about enough for in-state if you keep it in aggressive investments for now, but add $10-20K to each to be sure. But the 4 yo needs a good kick start for college.

Then you can retire/work a PT time and not have the addition of needing to save for college

OP here. This is such a great point. Question, there are some home renovations I’d like to do before quitting. I don’t think we will be able to cash flow them after, so should I just do them now and extend my quitting deadline? Or is that dumb?

I'd keep working to cash flow the home renovations and ensuring you have enough for college. If you are able to keep working.
Then again, how much are those home renovations? Can you fund it with an extra year?

[Anonymous]

Anonymous wrote:I taught in DCPS. I’ve been through Bush, Obama, Trump, Biden, and now either Trump or Harris. I’m just sort of “done”? Like I’ve done everything I ever imagined. Any my health just can’t keep up. I think summers off and work days aligned with my kids calendars would really help. Maybe I’m being too optimistic.

So maybe tutoring? You control the hours worked. And you Make much more than actual teaching job, without the added stress and rules

I paid my kid's tutors $100/hour if with an agency. If on your own, you can charge $75-100/hr.

[Anonymous]

You can't answer this without knowing whether the income you can expect will meet the expenses you project, including discretionary expenses like renos and private schools, not to mention your expenses in retirement, including potential long-term care.

You can probably do it if you redcue your expenses and can tolerate teaching, which by all accounts is generally unsatisfying for many in the field as well as being relatively poorly compensated. On the other hand, if you can stick it out long enough, some teaching roles may offer the possibility of a future pension.

[Anonymous]

Anonymous wrote:You can't answer this without knowing whether the income you can expect will meet the expenses you project, including discretionary expenses like renos and private schools, not to mention your expenses in retirement, including potential long-term care.

You can probably do it if you redcue your expenses and can tolerate teaching, which by all accounts is generally unsatisfying for many in the field as well as being relatively poorly compensated. On the other hand, if you can stick it out long enough, some teaching roles may offer the possibility of a future pension.

You have to teach for 20-25+ years to get a pension. If the OP is stressed by their currently job, I don't see how switching back to teaching currently will make life much less stressful, they will just make a lot less.

[Anonymous]

Anonymous wrote:You will need to cut the private school

I agree this would take care of the $30k deficit. Your husband and you are successful, there’s no reason to believe that your children wouldn’t thrive in public school.

It’s better that they have a healthy mother who has more free time to be at home than private schools that they don’t need.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can't answer this without knowing whether the income you can expect will meet the expenses you project, including discretionary expenses like renos and private schools, not to mention your expenses in retirement, including potential long-term care.

You can probably do it if you redcue your expenses and can tolerate teaching, which by all accounts is generally unsatisfying for many in the field as well as being relatively poorly compensated. On the other hand, if you can stick it out long enough, some teaching roles may offer the possibility of a future pension.

You have to teach for 20-25+ years to get a pension. If the OP is stressed by their currently job, I don't see how switching back to teaching currently will make life much less stressful, they will just make a lot less.

She already said the decrease in hours and summers off will help her improve her health.

[Anonymous]

Tutoring is the hours she’d like to spend with her kids. Teaching is very stressful. Sounds like they have pretty high expenses for private school.

I am in a similar position but older with college aged kids and a higher NW. I thought about taking a lower paid job while younger but ground it out. There is no perfect answer.

How about a lower position in your current field? Any options?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can't answer this without knowing whether the income you can expect will meet the expenses you project, including discretionary expenses like renos and private schools, not to mention your expenses in retirement, including potential long-term care.

You can probably do it if you redcue your expenses and can tolerate teaching, which by all accounts is generally unsatisfying for many in the field as well as being relatively poorly compensated. On the other hand, if you can stick it out long enough, some teaching roles may offer the possibility of a future pension.

You have to teach for 20-25+ years to get a pension. If the OP is stressed by their currently job, I don't see how switching back to teaching currently will make life much less stressful, they will just make a lot less.

She already said the decrease in hours and summers off will help her improve her health.

Most teachers I know work 50 hours a week minimum, and many are over 60. These are very stressful and sensory-overloaded hours, too. Honestly, many teachers I work with are desperate for a way out of the classroom.

The summers are great, but you sacrifice the other 10 months (early mornings, late nights, weekend work, no flexibility).
OP, I don’t recommend teaching if you are looking for something easy.

[Anonymous]

Can you be a para? I’ve seen teachers do that to stay in the system but much Less stress. Summers off. Etc.

[Anonymous]

Anonymous wrote:Can you be a para? I’ve seen teachers do that to stay in the system but much Less stress. Summers off. Etc.

This is a good idea. The days are still stressful, but you wouldn’t need to spend off hours planning lessons and grading papers.

You may also have an easier time taking leave, as you wouldn’t have to create sub plans.

[Anonymous]

OP here- much do para educators make? Do you need a teaching license.

So the current numbers have the kids finishing middle school at their private school, and then switching to our pretty good public. I went to private prep school, and so I feel bad not giving my kids the same, but a healthy mother is probably more important.

Everyone is scaring me away from teaching. What about private school? I went to great schools myself so could be a good candidate. If I make $60k it would make up the cash flow difference.

I guess I could find a lower stress job in my field but I haven’t been able to thus far. This is my second move to a pay-cut job, and it’s not less stress.

[Anonymous]

Anonymous wrote:OP here- much do para educators make? Do you need a teaching license.

So the current numbers have the kids finishing middle school at their private school, and then switching to our pretty good public. I went to private prep school, and so I feel bad not giving my kids the same, but a healthy mother is probably more important.

Everyone is scaring me away from teaching. What about private school? I went to great schools myself so could be a good candidate. If I make $60k it would make up the cash flow difference.

I guess I could find a lower stress job in my field but I haven’t been able to thus far. This is my second move to a pay-cut job, and it’s not less stress.

I transferred to a private school from public. I’m much happier now! The days are less hectic and I don’t feel as burned out at the end of the day, so I still have some strength left for my own family. There’s still a lot of work to do outside of the school day. (For example, I’ll put in 5-7 hours of planning today - a Saturday. I have to plan more since I’m responsible for my own curriculum; there’s no district giving me what to teach.) But overall: I think it’s much more manageable.

Private does pay less. I’ve been teaching 15 years and only recently made over $75K. I’m not sure how much a new teacher makes, but you may be able to argue for a higher starting salary because of life experience.

[Anonymous]

You should focus on public school only and consider if your family can function on one income in case you maintain a steady income.

[Anonymous]

Anonymous wrote:You should focus on public school only and consider if your family can function on one income in case you maintain a steady income.

DP. I’m curious: why should she focus on public school only? I don’t understand this advice at all.