Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

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SunnySeattle
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by SunnySeattle »

I changed jobs for a shorter commute, but also less pay. Being closer to home and the kid's school and activities is worth it to me. According to your numbers you would gain 5 hours just in commute time each week with the new job. That may defray much of the extra time required by the new job. You have lots to think about. Good luck with your decision.
HIinvestor
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by HIinvestor »

Theoughout our marriage, both H and I have chosen work life balance over increased income. We have no regrets and H has finally retired after 45 years with employer. At one point, one of H's supervisors was so impressed by H's dedication, skill set, and all he brought to the workplace that he created a promotion and new position to reflect the many things he was doing above and beyond his job description, with s raise. It all helped increase his pension and he loved going to work every day.

He would always mention other positions and promotions he could apply for. I'd always ask why there was a vacancy and how things were at the place he might apply for. We'd think and talk it over and inevitably decide the small additional funds weren't worth leaving a place and position he loved to go to a more turbulent site. Work life balance is so important, especially when there are young kids--they grow so fast!

I'm glad you and your wife have made a choice that you're both happy with. It sure is flattering to be sought after, but have the choice to remain where you're happy!
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Cheese
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by Cheese »

I am following up after nearly 8 months to note that I did not take the new job and to provide some perspective since that time. In the time since I have made my decision, the company I would have moved to has suffered and my colleagues whom work there have said morale is very low (boom/bust cycle perhaps). That is part of the risk/excitement with some job offers.

In the meantime I have enjoyed a steady, flexible culture and have continued to learn more, expand my roles and responsibilities and internal network. I even began working closer to home/remote 1-2 days a week which is very helpful from a work/life balance perspective. Overall, I am very happy with my decision and it has made me more confident in my current role which will ultimately lead to more opportunity down the road.

Thank you all for your great feedback - it was immensely helpful getting so many different people's perspective. Incredible community we have here.
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TomatoTomahto
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by TomatoTomahto »

. . . and thank you for coming back with an update. It is often forgotten, but people want to know.

Congratulations on a decision that has worked for you.
I get the FI part but not the RE part of FIRE.
Grogs
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by Grogs »

Congrats on dodging that bullet. I didn't read all 100 replies, but assuming you didn't need the additional money I think you made the right choice. I would never tell my boss this, but if he gave me a 50% raise, I would just save more and retire earlier. :) That's not a bad thing, but if it comes at a cost of missing out on family events for those years, even if there are fewer of them, I don't think it's worth it.
nukewerker
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by nukewerker »

This topic weighs heavily on me. I am currently working 80-90 hrs/week doing a full time salary job and moonlighting in the same industry with my own business. If things keep the pace they have been this year, I will easily clear 200k combined. I do eat dinner with the kids/family every night and put the kids to bed. I also devote 1 afternoon each weekend to the kids; of which I have 3, a 3 year old and twin 1 year olds.

I was 2 years out of school when the great recession hit and the image of walking to the mailbox each day, hoping the $500 unemployment check for that week was in there, is extremely visceral for me. I am still early in my career and just now starting to pile up cash. So for me, ensuring my family has food and shelter is job No. 1. Once I have a few hundred thousand in taxable, I may change my tune.

But I enjoyed reading all the replies. I'm sure there is a happy medium for each person/situation.
sambb
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by sambb »

so glad i chose extra money over the balance. It opened me to huge opportunities, leadership, more pay beyond what i ever imagined.
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Cheese
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by Cheese »

When I first posted this thread, I was looking at taking a new job in a new company for significantly (to me) more money. That was two years ago. I chose to stay put and take the work-life balance route. This week I received a promotion and an increase in base, bonus and equity (approx +$50k) which is slightly higher than what I would have been making at the new company had I made the transition. I still have incredible work-life balance and have had a few years of great family time, personal time while growing in my career. I felt the need to post this as I don't feel comfortable sharing it with anyone outside of the Boglehead community. Thank you for letting me share and I'm sorry for [what feels like] boasting but I'm pretty excited!
:sharebeer
abonder
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by abonder »

Thanks so much for following up. I think that delayed follow-up posts are some of the most interesting. I know the stories are anecdotal, but they still provide a framework for thinking about things.

It’s wonderful that, in your case, you chose to maintain a work-life balance that enabled you to have time with your family, and you ended up getting the promotion and increased income that you contemplated leaving for. Truly a fortuitous circumstance and I’m sure that your efforts and expertise played a greater role than good fortune! Thanks again for sharing.
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TomatoTomahto
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by TomatoTomahto »

:sharebeer

Good on you!
I get the FI part but not the RE part of FIRE.
boglebrain
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by boglebrain »

That’s great to hear how it has worked out well for you.

One of the thoughts I had when reading this thread (this was the first time I read the whole thread) was how important your reputation is and especially as you move up in management.

My own story...I had worked so hard for a startup and didn’t feel adequately rewarded after a number of years and got an offer to be VP at another startup and a 50% salary increase and good equity stake. I didn’t do any due diligence on the company and just sort of jumped for it.

I quickly realized I didn’t have any credibility yet and couldn’t sway people to change course from the current strategy. Then as I learned more about former employees and the actual business performance I realized the huge mistake I had made. I ended quitting within months since I really disliked it.

Now it all worked out since that mistake ultimately led time to an interesting career path but it was a very painful lesson about a) doing due diligence before you jump and b) ensuring you are setup for success and c) the importance of reputation/credibility.

@OP: in your case I think it worked out really well and the credibility you have built up has been rewarded.
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czeckers
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by czeckers »

I took a 10% pay cut to go to a 4 day work week. My work days are 10-12 hour days. I cannot overstate the benefits of the extra time off. I even have a couple of hobbies now.
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Frisco Kid
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Re: Advice Needed - Has Anyone Chosen Work Life Balance over Extra Money?

Post by Frisco Kid »

In Op's own words new position is with a company where the environment is more intense and hard driving. To me that says it all, makes sense to stay put. 4 to 6% yearly raises are not all that bad either.
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