Golden Handcuffs: Time to Make a Change?

Looks like you guys need some more Mr. Money Mustache in your lives:

It’s all on auto-pilot, and all there is for us to do is go to work during the week, and pack some fun into the weekends. There is no drama in your financial life. Many people would kill for a situation like the one you’re in.. but yet you’re bored. What is wrong with you?

Congratulations. That odd, slightly bored feeling you have is the feeling of becoming rich .

(From: http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/)

You guys have it good - Better than most people. You have good jobs that pay well, you're saving money, and you're at the age where the numbers in your bank accounts are higher than they've ever been. You're rich. And if you don't believe me, click this: http://www.globalrichlist.com.

What you guys do with that wealth is now up to you.

RaisingArizona, on the other hand, you're just a leech on society. Get a job, Hippie!!!

i have a 6 year window then i can walk away. being a ski bum sounds great but doubt my body can take more than 3 days a week on the slopes. will need to find some sort of job to occupy my time. Doing something I like on  my own terms  does not sound bad

PeeTex wrote

Good luck with that plan. Many large companies have done away with the week/service year severance packages and have now done away with vacation benefits calling it "unlimited" which just means that if there is no benefit they don't "owe" you anything when you are layed off. If you still have these now, they can disappear at any moment. Golden handcuffs are turning into lead weights as these changes occur.

Maybe so, but I doubt any change to our benefits will impact me.  As much as I am at odds with the daily bullshit of my work, the company I work for has always treated loyal employees well.  Overall, the organization has created a benefits package that promotes loyalty and discourages job hopping (very old school).  Recently they dropped the "defined benefit" pension plan for new hires, but grandfathered everyone with more than 10 years of service.  Over the years, there have been similar changes to other benefits that did not effect employees with seniority.  A change to our severance plan would probably follow the same course.

MikeK wrote

You should change the title to "How not to be a ski bum."

Splain Ricky?

nepa wrote

Harvey wrote

Wow. Just wow.

I've always been a long term planner.  My father was the CFO for a large insurance company, so from childhood, I always understood the "value" of saving, and having a long-term plan.

Me too.

The wow part was the whole scenario.

I am sure the grim reaper of (un)employment is coming but I don't have such a clear image of how I am going down. Or up.

Harvey wrote

MikeK wrote

You should change the title to "How not to be a ski bum."

Splain Ricky?

'Cuz ski bums we ain't.

nepa wrote

PeeTex wrote

Good luck with that plan. Many large companies have done away with the week/service year severance packages and have now done away with vacation benefits calling it "unlimited" which just means that if there is no benefit they don't "owe" you anything when you are layed off. If you still have these now, they can disappear at any moment. Golden handcuffs are turning into lead weights as these changes occur.

Maybe so, but I doubt any change to our benefits will impact me.  As much as I am at odds with the daily bullshit of my work, the company I work for has always treated loyal employees well.  Overall, the organization has created a benefits package that promotes loyalty and discourages job hopping (very old school).  Recently they dropped the "defined benefit" pension plan for new hires, but grandfathered everyone with more than 10 years of service.  Over the years, there have been similar changes to other benefits that did not effect employees with seniority.  A change to our severance plan would probably follow the same course.

So I do some work from time to time with that big guy in Schenectady, several friends there who are lifers that throw some bones my way. A few years back they dropped the defined benefits plan for new employees, then they dropped the severance plan, and from the articles I have read, this year they dropped vacation for permissive time off (so called unlimited vacation - or rather no vacation), which means if they lay you off or you decide to leave or you retire you have no accrued vacation that they have to pay you for, effectively they took all that liability off the balance sheet. So I wouldn't count on a thing as things can and will change.  The rumor on the street is that they may sell the what's left of the pension plan to a financial management company that will milk it out with "service" fees.

Mr Money Mustache is the way to go - don't count on your employer to live up to their "promises".

It is going to be a looooooooong time before the unlimited time thing gets beyond the few firms that do it now. The common change now is combining vacation and sick time under paid time off.

The balance sheet liability can be limited when they set the time off to accumulate during each pay period and reset it to zero at year end. If you set the policy correctly a person could owe the company for time off when if they left before the accrual caught up. Each state has different rules, so this might not work in all states.

I personally think the idea of combined PTO is bs. Employers basically trying to do a decent thing by saying that if you are sick or have a funeral we'll give you the time off and won't count it as vacation. I guess it's a reaction to people treating it as vacation, only sick on Mondays, how many grandmothers do you have anyway?  

Yea they are allowing the employee the free will to choose. I'm a cranky old fart because I've had less than 10 sick days in the 35 years I've been working. I'm a chump.  Thing is it's not like my workload is covered by anyone else, if I'm out for any reason vacay included, I'm farther behind.

On the opposite side of that, we had an employee who used 30 sick days in a year and the company docked her 2 weeks vacation.  Not sure that helps or hurts my argument.

</rant>

Somehow I seem to have started this thread but you guys are bumming me out.  My point to young Sno is you are selecting a major also think about where you want to live as you select that career. 75 days like what he expects as an adult ain't happening even if you live in the Mts like I do if you want to earn a living.

Today jobs are more portable than ever.  It's not 100% your job keeping you in Jersey or wherever it's your other life choices as well.  If you are not happy make changes to make yourself happy.  Life is too darn short.

I'll tell you it's way cheaper living where I do than down in some suburb.  I calculated my company would have at least double my pay for me to live in PA where our HQ is.

Is my job perfect...NO.  But I do enjoy it most of the time though the last week has sucked.  I love living where I do and I would not trade that for a higher paying gig elsewhere but the trade off is longer travel times to and from my customers.  Pros and cons to everything in life.  Make sure you come out on the profit side of the happiness ledger when all is said and done.

Agreed, never stay at a job just for the retirement bennies, if the job makes you miserable you will loose more by staying there than you gain.

Coach Z wrote

75 days like what he expects as an adult ain't happening even if you live in the Mts like I do if you want to earn a living.

I'm 35 years old and I earn a living. The closest ski area that I ski regularly is 45 minutes away. I ski 60-65 days and 14 nights a year and could do more if I wanted. It's doable.

And I don't think anyone stays in a job if they are miserable (even for a great retirement package). I think the emotion that a lot of people feel about their jobs is "ennui" - kind of a bored monotony, mixed with a sad feeling that you have to keep doing this thing over and over for x more years. You're not "miserable", but you're not jumping out of bed every morning psyched to go into the office.

Every year, right around this time (mid October through Thanksgiving), I think about packing it all up, moving out to Jackson, WY, and being a ski instructor in the winter and a Geology-instructing Park Ranger at Yellowstone in the summer. Those are some jobs I would jump out of bed for. But I haven't done it yet and that Warren Miller thing ("if you don't do it this year, you'll be one year older when you do") keeps repeating in my head...

But, I think about the things I'd miss around here - summers on the lake, salary that pays enough for Golf and trips, retirement package and vacation benefits of my current job, family, friends. And I decide that I'll do it when I'm ready.

Coach Z wrote

75 days like what he expects as an adult ain't happening even if you live in the Mts like I do if you want to earn a living.

My wife and I work full time jobs.  Over the past 5 seasons we have averaged greater than 60 days (45 at Mission, and 20 days traveling).   Getting to 75 with full time jobs is not that big of a stretch.  The key is not having children and choosing a partner with the same passion for riding snow.

mattchuck2 wrote

And I don't think anyone stays in a job if they are miserable (even for a great retirement package). I think the emotion that a lot of people feel about their jobs is "ennui" - kind of a bored monotony, mixed with a sad feeling that you have to keep doing this thing over and over for x more years. You're not "miserable", but you're not jumping out of bed every morning psyched to go into the office.

Very well said.  I think this is a pretty good description of how feel about my work.

mattchuck2 wrote

Every year, right around this time (mid October through Thanksgiving), I think about packing it all up, moving out to Jackson, WY, and being a ski instructor in the winter and a Geology-instructing Park Ranger at Yellowstone in the summer. Those are some jobs I would jump out of bed for. But I haven't done it yet and that Warren Miller thing ("if you don't do it this year, you'll be one year older when you do") keeps repeating in my head...

But, I think about the things I'd miss around here - summers on the lake, salary that pays enough for Golf and trips, retirement package and vacation benefits of my current job, family, friends. And I decide that I'll do it when I'm ready.

Don't wait too long.  It sounds like you have a good plan.  Many of the things you think you will miss, can (and most likely will) be found in your new location.

There are many people that feel trapped in their jobs for whatever reason and I agree that many people grouse about their jobs because its the SSDD or they feel they have no control. I have been lucky to have a high diversity of work and the ability to set my own agenda, that's why I just can't seem to quit. I should just do that world ski tour and chuck it with the few remaining years I have left but I would get bored, I thrive on diversity.

nepa wrote

mattchuck2 wrote

And I don't think anyone stays in a job if they are miserable (even for a great retirement package). I think the emotion that a lot of people feel about their jobs is "ennui" - kind of a bored monotony, mixed with a sad feeling that you have to keep doing this thing over and over for x more years. You're not "miserable", but you're not jumping out of bed every morning psyched to go into the office.

Very well said.  I think this is a pretty good description of how feel about my work.

mattchuck2 wrote

Every year, right around this time (mid October through Thanksgiving), I think about packing it all up, moving out to Jackson, WY, and being a ski instructor in the winter and a Geology-instructing Park Ranger at Yellowstone in the summer....

Don't wait too long.  It sounds like you have a good plan.  Many of the things you think you will miss, can (and most likely will) be found in your new location.

Looking at house (and even rental) prices in Jackson, WY... Looks like I might have to wait about 25 more years.

Since I don't have the night skiing option 75 is just not feasible for me unless I use all my vacation days in the winter and I just can't afford to do that.  

I regularly clock in 60+ and I'm good with that.  As I get older I'm more about quality over quantity.  Doing the race parent thing and teaching less this year so it may reduce my days somewhat to below 60.   I do prefer to ski some on my sons race days but that may not always make be practicable or make $ sense.  

I'm pretty happy with my work, family, and personal time balance.  I have a great wife that is ok with my golf habit and we are on the same page with skiing.

nepa wrote

 The key is not having children

Would not trade any number of ski days for no kids.

  No kids ,that's your choice I have over  400 days skiing at least with one of my four children , memories and bonding time could not be measured by money or ski trips out west or to Europe ,but that just my opinion!  
   Job you talk about tough week, just drove 2hrs 15 minutes each way to work, worked 12 hrs  spent 7 hrs 45 minutes at home then started all over.  Next job is 15 minutes away  thank God.

 Coach ,I am interested where in PA is your company located, I am from PA