We have some commonality. My Dad died at 50, I was 27. My grandparents had my Dad at age 40. Growing up, I always felt I was raised with values/attitudes a generation older than my peers. Dad had a relatively successful career as a homebuilder/developer yet was depressed that he wasn't more successful. We weren't poor but money was usually pretty tight. Growing up, Dad wanted me to become an engineer ... I didn't know what I wanted. So, I went to school, got a job, became a semiconductor engineer - and loved it for most of 25 years. The last 7 years were far more demanding, outrageous schedules, shitty raises, threats of offshoring and no other jobs that fit my skillsets on site. I saw 31 layoffs in that career, I survived every one of them. Site workforce went from 3200 when I started to 450 when I left. Up here in the sticks there are few opportunities for a semiconductor engineer, I couldn't just go across the street and find a similar paying job, and I was unwilling to move to another state where the semiconductor jobs were. I racked my brain on finding a solution, my job was getting untenable. Earlier, I had partnered with 4 other engineers in the mid 1990s to buy a local venue in the city, we had 260 seats in the upstairs and booked national bands to play about 2-3nights a week. It had a pub downstairs that held about 120 IIRC. I busted ass at work 45-50hrs a week then worked at the bar another +/-40hrs a week. It was hard. The business went broke after about 2 years of operation. I learned a lot from that experience, an education that was worth more than the money I lost. I decided I didn't want any partners in my next business. I didn't want any employees either. I didn't want inventory. I wanted to run and control the whole show. I wanted something that made serious profit and didn't demand too much of my time. I didn't want too much, eh?! Lol!
By the early 2000s there were new subdivisions popping up on my commute to work. Every day it was a reminder of good times in my youth working for my Dad building houses as part of his crew. I knew those developers were making big money developing land. Then it hit me to become a developer. No partners, no employees, big profit, 95% of the work was up front and once completed, the rest was simply sales and marketing.
I found the perfect spot to develop. Location is everything in real estate. I bought 3 parcels of raw woodland (totalling about 100ac on a hill) cheap, contracted a surveyor and other professionals, worked up a subdivision plan, put it through the approval process and had final subdivision approval all on my own dime (everything I had was riding on this). When I went to the bank for an infrastructure loan, the banker was blown away by the project and that I had created the approved subdivision out of pocket. They were very happy to lend me the money for infrastructure. Once the infrastructure was built, all that was left to do was marketing and sales. I selected a friend (ex-coworker laid off engineer who was also an ex-partner at the bar) who went into realty a couple of years earlier and had already established a good business. Together we brainstormed, created an interactive website with pictures of the incredible mountain and water views, designed/printed our own brochures, assembled mailings, etc. It worked out great! I had no partners (I only contracted professionals), no employees, I owned it all. I had the infrastructure loan paid off by the 6th lot sale, the rest was profit. As part of the initial land purchase I had also contracted an abutting 200ac with a 3 year balloon and paid that off early. Plenty of room to build off the success of my subdivision and expand into the future. Now that I'm getting old, I will probably sell that large parcel to another developer, at a huge profit of course, and they will do well with it.
So in essense, I had created the approved subd before I left my engineering career. When I left it was on my timeline, my decision (I felt I couldn't balance the outrageous work demands maintaining my prior level of performance and successfully juggle the subd project simultaneously). That was 20 years ago in June. So I look at it as having retired when I quit. The hard work was completed and have only had to expend a little effort here and there through those years.
Meanwhile 3 years after I quit, my old department was laid off and those guys had to deal with 1.75 to 2hr commutes to find similar work without moving. Meanwhile I only had to meet buyers, sign papers, collect big checks and deposit them. I have no regrets whatsoever. I do miss the technical challenge and bleeding edge of the semiconductor biz, but I don't miss the outrageous schedules, long hours, stagnant wages and no sense of job security.
And if this isn't something worth doing, what would be something else I could look into learning and making a career out of? Preferably in same lone wolf style work that is like trading futures.
Back to your search for a different career. I'd suggest real estate. Become a realtor, learn the ropes, excel at it. Keep your eyes open for every opportunity to make money. You would have to interface with people, mostly on the phone, text, email, showings and closings. Small scale project management with a big check at the end. The upside potential is huge if you are good at it. More millionaires created their wealth through real estate than any other method. Become familiar with your area. When you stumble upon great opportunities, seize them!
We definitely have overlap. I absolutely have the inclinations and ideas of a generation considerably older than my own.
Real estate would be something I'd totally get behind, if I had remotely even close to the amount of money I would need to start. Being a carpenter I know I could buy, restore and flip a house with very few problems.
I wasn't flush with money when I started either.
I had my cash savings, I took a 2nd mortgage on my house, I took out 50% of my 401k as a loan. One of the parcels I purchased, the owner offered 20% down, 6% interest, 5 year term financing. I took that offer to conserve cash up front.
At that time some credit card companies were offering 0% /18 month cash advances up to 50% of your limit on some cards. I had a card with a $50k limit (I think someone screwed up and added a zero because my other cards were around a $10k limit). I took out a $20k cash advance on the card. Here's the story behind that. While planning the subdivision plan, I was limited by acreage to a certain number of lots. If I had more acreage, I could have more view lots. I decided I needed 31ac or more to maximize the number of 1.5ac lots in the best mountain/water view area of the subdivision. That $20K credit card advance paid for the 31ac I needed and secured a 3 year balloon contract for the remaining 200ac abutting my project.
Incredibly, that $20K credit card advance allowed me to create over $1M in new view lots! I paid it back on time and avoided any interest payments. I can't help but shake my head and smile every time I think about that!
Like I said, I put all of my eggs in this basket. If it failed, I'd be wiped out. That was great incentive as I managed every aspect of this endeavor. In the time that had I left my job, received the final subdivision approval, had the 1st phase infrastructure in place, had the new lots listed and was waiting for the first lot sale ... I had been making payments on all of these loans. It was close, I was down to my last $12k by the time I closed the first lot sale. I became debt free as quickly as possible, paid off all of these loans before enjoying the fruit of my labor.
It was an amazing experience that changed my life - and I never want to go through that level of desperation, risk and stress again. I made more than enough to fund a good life. I'm getting too old for that level of stress again, I have no kids to leave it to so why take on risk and put myself through another big project. I'm content with what I have. Leaving my job and succeeding writ large gave me the last laugh at all of the naysayers back at the plant too. I was told I became legend there. LMAO!
Flush? Dude, you already HAD. 50% of a 401k and a 2nd mortgage. That isn't "flush" but you HAD those things.
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