I‘m planning to take a year sabbatic, just going to travel and focus on the family. Then we will ending the trip in UK where I will try to find a role in Tech. Is this too risky or let’s go already? (Real questions at below 👇) Quick background: 20+ yoe in sales, strategy, analytics, and consulting, currently leading biz dev (tech BD) in the cloud space for the West coast(US), built multiple million $ businesses and currently managing the growth of a 1 billion+ portfolio; L7, TC: 440k. Family of 6 (4 kids) and wanting to move back to UK for the culture / experience because I grew up there. I’m the only source of income at the moment but wife has experience working in finance at Microsoft. In the meantime, we’ve been so busy hustling and building up the family in the past 15 years and I felt not spending enough time with the family and myself, pretty much nonstop working since high school and paid myself through college. We are not a big spender, don’t drive an expensive car (we have a mini-van! =)) or carried big mortgages, the biggest spending items probably eating out and kids sports (<600/month). Normally we can save and invest more than 60% of our income. I just turned 40, If I sell all the investments right now, my assets would worth around 2.4M with roughly 400k as cash/stock. If I’m able to keep up the current TC, we should be able to retire roughly around 10 years. I think retirement means around 3M or less depends where I will be living. I did some planning and calculation for the 1 year sabbactical, it will cost roughly 100k (the trick is not staying in expensive city for too long). Besides the big question above, here comes the real questions that I am thinking through: 1/ I have never worked in UK before but I’m a citizen, is it difficult for me to find a similar role with my background? Do companies value my US experience? Either way, how long does it take for folks to land an L7 or similar role in tech companies when they are starting out from scratch? 2/ Since this is not an internal transfer, I probably don’t have much of a bargaining power in terms of comp, any tips or strategies for me to plan this job hunting process? I’m not limit to Amazon or FAANG or don’t have a problem to jump around a little. 3/ With the most likely scenario of paycut, I’m concern that I’m not able to land a role to keep up with the family. I’d need at least 10k a month to keep things going with rent, school, and save a little. What is the realistic monthly expense for me? Let’s say renting a house an hour away from london, and private school for 4 kids? I’m I delusional? 4/ Delay in retirement is expected, what is a realistic figure for me to retire in the UK between my wife and I? Does it even make sense for me to stock up my pension when I first landing a job in the UK? (Is mandatory? ) I’ve around 100k 401k with 18% yoy return currently. 5/ Any other recommendation you have that could reduce risk or higher chances for me to land a role quicker? Connecting with bunch of head hunters ahead of time? 6/ When I land in the UK, beside the obvious items such as finding a place, renting a car, what else do I need to watch out for. Thank you blind community, there are many questions going through my mind but any feedback is welcome! #London #tech #sabbatical
2.4m is a lot in Europe. I think you’re in a very good financial situation to take this sabbatical without over concerning. I think finding a job in London won’t be a problem with your skill set but might take time so take that into account. The key here is just keep your cost as low as possible until you have figured that out. For example, your kids probably don’t need private school, public can be quite good in the Uk
Good point, thanks! I have another complication because my oldest kid will be 15 by the time we will be at UK, with GCSE year there may be no public school will accept him. 🤪
I think you are in for a nasty surprise as far as price levels are concerned. Regarding tech companies: I had a recruiter from Amazon reaching out for L6 in London and man the pay is shit. Base is lower than Bloomberg and with stocks it just gets above current salary. YMMV as a sales guy ofc.. I would expect Bloomberg to be a good choice for you tbh.. I would recommend joining in NYC if that is an option and transfer to the UK after.
Thank you for the tips and suggestions!
Sure, anytime. People might disagree, but it is quite important to settle in a good neighbourhood/borough especially with Kids. Some areas have serious issues and the ones that don't are quite pricey.
Take the time off. Worst case you can end up back here making same money if things don’t work out in a year or two.
If you're at 2.4M NW and your number is 3M, then why not first hit your number and then go on sabbatical? With the way that the stock market is booming, it might not take that long. As I see it, that would significantly de-risk your sabbatical. Hopefully afterwards you find a well paying job in the UK that is comparable to what you have now, and then you can keep increasing your NW. But if you are unable to do that, then you've already hit your number and so you can make a relaxed decision on whether to retire with what you have or return to the US.
How do u get time to write such a long post
World Conflicts
11h
367
Why I Find Free Palestine Inspiring
Health & Wellness
Yesterday
994
Lasik cost
World Conflicts
11h
432
Is "From the River to the Sea" So Wrong?
Tech Industry
Yesterday
2150
The two-pizza team rule is racist
World Conflicts
12h
489
Israeli precision-guided munition likely killed group of children playing foosball in Gaza, weapons experts say
OP this is not a question, these are questions to a financial advisor!! If you have done the job as L7 you can get a similar role anywhere! 2.4M is not a whole lot to retire with 4kids yet to go to college. What’s your annual expenses? Multiply that by 30 or 40 to retire
Right, I did but want to hear more blind comments from folks who went through this stage. I’m more focus on job hunting and landing my footing in UK anyway. SAP, are you from UK? College is not as expensive in the UK compared to US, would love to hear some true figures. Plus I have a separate buckets for college funds, my kids is also UK citizen so local fees. I’m fine for them to take a loan! ;) Current annual expense is less than 160k, but it doesn’t mean the same 5, 10, 20 years from now, especially by the time I retired.