One of my friend recently lost his job, he was in the same company from the last 14 years and one fine day they laid off him. Now when we were chatting, he said his career is finished because he has already crossed 45 years of age. Getting job above 45 is little difficult as per most 9f the company. It's difficult but not impossible.
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The problem is now the IT industry is bad and getting the job is tough. And when you are above 45, it's little worse. But it's not late to start something else. I talked to him about his interest, he said he loves teaching. So the next career option would be start teaching. The only problem I see is the compensation.
As a software developers you get paid well and thus your lifestyle becomes like that. You get a home loan, car loan as well as try to spend lavishly, and don't save enough. It is the case with my friend too. His loan was around 60% of his take home so now even if he gets 50% less money, it will not be sufficient.
And that's why the thing is it is never too late to strat over provided you don't have any responsibility from the previous one. The responsibility for my friend was loans, now if he wouldn't had any loans he can start the teaching job and in some years with tuition + teaching he could have reached the salary which he was drawing as a software developer.
And that's why having a back up plan is necessary and also minimizing your expenses is the first step towards that. Once your expenses are lower and if you want to start over, then getting the low paying job is also fine at the start. And then you can climb the ladder slowly and steadily.
