Leaving Corporate Life Behind
Last Friday, I got laid off from my job at a medical device company. My goal when I took this job was to work hard for 3 more years, save 50% of my net income and retire at 60 on the money I have saved. My plan was working out great, until my company ran out of funding and had to close their doors. Even though this was a huge disappointment for me, I am embracing this change in a profound way. I have decided to ditch corporate life altogether and start my early semi-retirement now. By semi-retirement, I mean I may still do some side-work to make some extra money, but not full time. I already have enough money invested to cover my basic living expenses, but I want to use the side money to travel and fix up my house. I don’t plan on scraping by in retirement. I plan on prospering.
My Career Journey
I left work in the supermarket for my first computer job way back in 1985. I had dreamed for years of being a professional and I was so proud of my new work clothes and title. I was taking programming classes in college at age 21 and I knew immediately what I wanted to do with my life. I quit my union job and made the leap into the new and exciting computer industry. Even though my first corporate job was at the bottom rung on the ladder, I had my foot in the door and I was on my way up. I had to claw my way into management in 1997 without a college degree, which is nearly impossible today. Nobody would promote me, so I had to leave my company after six years for a new job. After I became a manager, I realized I didn’t want to climb any higher up the ladder. I enjoyed running my own department and working with people and technology. After almost 4 decades of corporate life, I have finally decided to call it a career.
What I Won’t Miss
I have really enjoyed my career and corporate life, but there are a few things I definitely won’t miss.
- Requesting a vacation and being treated like I’m putting the company in a bind.
- Staying late, working weekends and being on call 7×24
- The daily commute to and from the office in rush hour traffic
- Frantic calls from airports, 4:00 AM texts and Sunday emails
- Clearing out my friends’ desks and cutting off access when they have been laid off.
- Policies, procedures, forms, audits and compliance
- Working all year to exceed my objectives, only to get a crappy review and a 2% raise.
My New Life
I have finally become financially independent, and it is everything I dreamed it would be. I walked away from the fear of financial failure that has haunted me for decades and into a life of unlimited potential and possibility. I had created my I Have a Dream post way back in 2008 and it’s hard to believe I have finally reached this goal, after 15 years.
Of all the things I love about my new life, here are the things I enjoy the most.
- Waking up in the morning and wondering how I will spend my day
- Exercising in the morning, instead of rushing off to work
- Eating, shopping and getting things done on my own schedule
- Spending the day writing and creating, instead of working
- Taking long walks at the beach and eating breakfast with my wife
- Travelling on my own schedule, without rushing back to work
- Doing things on weekdays that are always crowded on weekends
It has only been one week, so I’m still not sure how this will all unfold. But even after a week, I am certain I’m never going back to the 9-5 grind. I wish I had of done this 20 years ago, but at least I will have the next 20 years for fun and adventure. If I wait any longer, I could waste half of those precious years sitting in a desk and retiring at 67.
Lessons Learned
When I packed up my coffee cup and pictures of my family for the last time, I was reflective of my career in the corporate world. The whole time, I dreamed of becoming an entrepreneur, but I never made the jump. I could make excuses about it, but the truth is corporate life was comfortable and predictable. It’s kind of nice having an office, health insurance, matching 401K and a steady paycheck. While I know in my heart, I could have achieved a lot more, either in or out of corporate life. I also know I was pretty successful for a guy who started at the bottom and put himself through college. Everything I accomplished in my career came from hard work and dedication.
The Bottom Line
I’ve said a number of times on this blog, “A job is an opportunity”. If you make the most of your opportunity, you won’t have any regrets when you retire. You also won’t have to keep working, because you came up short.
“Don’t complain about your job. If you hate it, quit. If there’s something wrong with it, fix it. If it’s a good job, be grateful for it. If you want more out of your job, make it happen. Be diplomatic about it and make it your dream job or leave.” – Danny Wong
I’ve loved your point of view on work. I’m blessed to have a great job that I love, and now that the kids are grown and flown, I have time to start a business. My work is sort of recession-proof, but I got a late start on retirement saving, so the business will be my catch-up plan. I have always felt the same way about a job – make it work or do something else.
Hi Nancy,
I wish I had of started my side-business while I still had my job. It would have made my transition into semi-retirement much less stressful, and I wouldn’t have had to burn up as much of my savings. I think you have an awesome plan to use the side-business to catch up on your savings. Side gigs have made all the difference in my finances for decades, before I got too wrapped up in my career.
Good Luck with your side business and thanks for stopping by my blog.
Bret