What's your next career move? What's your exit strategy?

[edison]

Very few mentions in the responses so far of clever side-hustles that people have. I've always had a hope that I would develop one at some point which would allow me to wean myself away from the man. However, I haven't come up with one yet. I've seen some people come up with some clever ones, but I guess they tend either to not make enough money, fail to take off, or the developer gets bored/runs out of motivation, or occasionally they become big and it ain't no side hustle no more. I suspect it's a tough road to travel down with fairly poor odds.

I was researching a tech startup idea during Covid related to addressing people who wanted to start a side hustle. Despite what you may see on Youtube and TikTok etc, most side hustles don't make much money and 'passive' income is a myth. The barriers to entry are low and the skills required are usually fairly easily learnt or could be mostly automated and now generated with AI. Hence niches like print on demand, creating a YouTube channel, publishing e-books, drop shipping etc are over saturated with people.

As an example, the average Etsy store earns about $2000 a year. When you account for the small proportion that make tens of thousands or more, the median is quite low.

To make a side hustle economically worthwhile for most of the people on here, it needs something that requires skill, a bit of capital perhaps and hard work. And you need to be passionate about it otherwise you won't have the motivation and determination to make it work long term.

[oliverson]

Very few mentions in the responses so far of clever side-hustles that people have. I've always had a hope that I would develop one at some point which would allow me to wean myself away from the man. However, I haven't come up with one yet. I've seen some people come up with some clever ones, but I guess they tend either to not make enough money, fail to take off, or the developer gets bored/runs out of motivation, or occasionally they become big and it ain't no side hustle no more. I suspect it's a tough road to travel down with fairly poor odds.

A couple of deaths this week of people I know from my local boozers, aged 56 and 64, one in particularly tragic circumstances, really makes me question why I'm sat here, selling my life away one day at a time, aged 56.

My plan B/hussle is about 2 feet away from me in a notebook beneath my monitor. In that notebook I have detailed sketches/designs for three mobile games. I have ideas for several other games, not just mobile. I'm a developer by profession, focusing on LOB applications.

Now it's widely known that the odds of success in the game world are pretty minuscule, but what does 'success' look like? When I hang up my keyboard as a contractor and retire to my place in the sun, selling up in the UK, with no mortgage, no dependants, etc., do I really need to be earning big money? Nice if it were to come along but isn't 'enough as good as a feast'?

This is an interesting video about a developer carving out a living as a game developer:

https://www.youtube.com/watch?v=JmwbYl6f11c

I think he's had bigger success since that video was recorded, but really, what would success look like for me? Two or three games, bringing in beer and tapas money each month?

One thing's for sure, there's an increased urgency in moving away from contracting. Writing code for me, not somebody else.

[PCTNN]

Neither do I! I just assumed that was the natural progression once you stopped caring.

For me the natural progression once I stop caring is to review my contracting career, understand which client was the least unbearable (both the work and the people there) and then join such client as a permie as soon as I get the chance. And then disappear until retirement.

[PCTNN]

What I've learned is, you need to have an alternative thing to do - just stopping work doesn't cut it. You do need mental stimulation and a "carrot" even if it's not money. Also you run out of money far faster than you might think and things you took for granted become luxuries.

This, but you need to choose wisely what you want to do.

My father in law was a joiner, had to retire early because the hard nature of his work wore him down and he had to have one of his hips replaced. He stayed at home bored with nothing to do for a year, then decided he wanted something to do so he went to work for a fruit and veg shop as a delivery driver. A couple of years of loading/unloading bags of potatoes and onions from the van and now his other hips needs done. Not the smartest move.

so yeah, be realistic of what you can do as an elderly person, and choose wisely.

[cojak]

For me the natural progression once I stop caring is to review my contracting career, understand which client was the least unbearable (both the work and the people there) and then join such client as a permie as soon as I get the chance. And then disappear until retirement.

Yep, in 2015 I took a long hard look at where I was, what the market looked like and where I wanted to be 5 years after that.

I went into a consultancy as an ITIL consultant as that path was paying £20k more than local permie BA’s. The company was small and a good one, I just lost my taste for trying to ‘fix’ clients when all they really wanted was someone in the organisation to pin the blame on when micro-management and underfunding of services inevitably goes t1ts-up.

[simes]

Difficult to consider an exit plan for something I am trying to get back In To.

57, home and rental properties with no mortgage, energy and motivation to offer something to someone (anyone?) in the IT sector. Currently offering PM 'skills' to an event company that raises money for charity through their ideas and endeavours, and writing books. These last I could take into a future exit strategy but there's no way I want to call contracting a day - even if it might have called it for me...

[Sub]

It seems people have a lot of free time this days - every agent on LinkedIn became a life-coach guru and posting self-help sh*te instead of placing people. And thread like this here too... A bit of a moment of reflection.

Personally, been in IT since 18 in three different countries, system admin / engineer, then project architect. Mostly Windows / Azure / M365 world. Lost the spark few years ago (in early 40s atm), but due to lucrative incomes in contracting kept going. I have been through couple of extremely satisfying projects but last couple of gigs were quite bad - hated both from day 1. Ended up turning down an extension for last one - could not think about being around it one more day.

What is most annoying to me is when work I do is actually not needed, like client request you to write 30 page doc and no one bother to read it. Ability to bill for it isn't enough anymore, some purpose is required too.

I was always running some side-hustle, some clients needing IT help here and there - simple work, but very satisfying. Last three years doing some content creation for wife's art studio - also enjoying it. It isn't ready to pay bills yet, but we will get there. I can call it plan B.

I have enough savings to get me through several years, no debts, no pension pot, no house and no plans or any desire for retirement. I know that I am totally incompatible with any permanent employment so will remain IT contractor for foreseeable future. Sooner or later demand for contractors will come back - may be it will not be that lucrative or easy to get, but it will be there.

[mudskipper]

I might head off to the Camino de Santiago in 2026

If you'd like a walking buddy, HMU (seriously!)

[cojak]

If you'd like a walking buddy, HMU (seriously!)

Will do!

[ChimpMaster]

I thought I was the only one. Probably a thought many of us have when we eventually wake up to where we are, wondering how we got here, and where we go now.

Good luck mate.