Yep. That’s probably a majority of Fortune 500 IT jobs. That was me for a while and I got tired of constantly being reminded that IT is considered a cost center and that IT people are thought of as interchangeable chunks of poo. So I went contracting. It’s the same shit, but the pay is enough that I was able to start investing in things other than just the market that I hope will serve me better in the long run.
I also just wanted to comment on something said in a previous post. Not many people commented on the post above where someone else suggested annuities, but that advice is worth considering. People bad mouth annuities because the returns are lower than the market, which is often true, but that isn’t the correct perspective to take with annuities. An annuity isn’t an investment, it’s a transfer of risk, guaranteeing income and protecting you from some market risk. Just as the post above noted, it’s reverse life insurance (which is an interesting way of putting it, so thanks for the phrase, although calling it survival insurance is perhaps better). Is not meant to replace other investments but perhaps augment them. I’d never suggest someone use them as an exclusive strategy but just as a portion of your total portfolio (except for some very special circumstances). It can be an excellent complement to social security. One other benefit of the annuity is that when you die, the remaining value of your policy passes to your beneficiaries outside probate. This can be a significant unsung benefit if your probate is complicated and therefore lengthy, and/or if your beneficiaries are financially challenged and need the money asap. A reputable underwriter, once given the necessary documentation, can get funds out within a week, probably sooner.