[USER]

I’m at a career crossroads and would appreciate insights from those who’ve navigated similar decisions. I’m 52 years old with about $1M in my 401(k) and planning to retire in 8–10 years in a LCOL area.

Right now, I’m weighing two very different career paths:

1. Stay in Industry – I currently work in Telecom Engineering, earning $160K plus a 40% bonus.

The job has provided good pay and flexibility, and relatively low stress, but long-term stability is uncertain.

I’m also not really challenged, but the job isn’t bad. If I stay, I would continue building my retirement savings at a strong rate, but I’m unsure about the career trajectory over the next decade. (Golden Handcuffs?)

2. Move to Academia – I earned a PhD later in my career and always wanted to teach and have been offered a tenure-track Assistant Professor position in a growing Computer Science Dept at a local university.

The salary is $100K for a 9-month contract, with a guaranteed $20K for summer work for the next two years. I’d be eligible for tenure mid next year due to previous service and affiliation with the university.

The position does not include a pension, and the pay cut is significant, so I’d likely need consulting work to supplement my income.

Financially, my rough calculations suggest a ~ $200K difference in net future 401k balance, which could equate to staying in academia 1–2 extra years versus early retirement on the other path (assuming no layoffs in industry).
I’m trying to think through:

The realistic long-term impact of lower earnings on retirement savings.

Whether consulting could make up some of the gap? And how realistic to get that started.

Tax implications and strategies for managing the transition. (Would be in lower tax bracket)

Beyond finances, I’m considering:
Work-life balance differences (flexibility in academia vs. corporate expectations).

Whether I’d enjoy the shift from industry to teaching/research long-term.

The risk of leaving corporate and later struggling to re-enter if academia doesn’t work out.

I’d love to hear from anyone who’s made a similar transition—or weighed the pros and cons but stayed in industry.

What would you consider if you were in my shoes?

What unexpected factors should I be thinking about?

[Rob]

Have you considered starting a side hustle in something that interests you? It’s amazing all of the different ways there are to make money.

My dad knows a guy that started breeding chameleons in his pole barn and selling them.

He now makes 300K per year. One of my friends started making stuff on his 3D printer.

Then he started selling things that he made. He now has four printers going and selling the items.

[Valerie]

I think switching would give you a downshift into retirement which might be a nice change of pace.

I would guess you will enjoy it and want to prolong your retirement by continuing to teach a few classes.

[Stef]

Eligible for tenure, but are you qualified for tenure? I’m familiar with humanities and there is a substantial publication and research expectation, and tenure is never guaranteed.

There is also a political component to it today in many states.

I’m not familiar with CS. If you would probably get tenure, and you’ve taught and enjoyed it, or have a reason to believe you’d enjoy teaching, then I would make the jump to the university.

Consider the teaching/research load now vs. when you attain tenure, and how likely you would be to get full or whatever the next step would be in 10 years or whatever is appropriate.

Also consider the service obligation. I’d expect the academic position to have more and varied hours than your industry job.

However, it could be a heck of a lot of fun!

[Richard]

What is your spending? Ie, is the $200k significant, or will you be oversaved anyway?

[Stacey]

Have you considered teaching a course or two prior to fully transitioning?

I have known several people that I work with that did that.

[Mike]

Maybe not the either / or answer you’re looking for but, have you looked at the opportunity to do both? When working on my master’s degree, the best professors seemed to have significant and related day jobs or businesses.

In talking with those professors about careers and tesching, they personally found a lot more value getting to engage academically while still being technically / operationally releavent.

I’m not sure how related the teaching role would be to your career experience from your post.

This might limit your reaching time to nights / weekends, but it’s something to consider.

[Noa]

Can you keep your industry job part time? That would be easier and probably more $ than starting a consulting business

[Michele]

I’m riding the wave of higher income to get to retirement on my terms. $200k less? No-go for me. That $200k is today dollars. It should double in 5-7 years if invested well.

If you get laid off, take your severance and go to plan B.

Perhaps try to get a part time teaching gig/nights, an online class a couple times a week, etc.

to mitigate your risk and get the best of both worlds.

[Author]

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