Retraining at 40

[Medic1281]

Hi. I’m looking to cut my hours as much as possible at where I’m working, and either retraining or going self employed. My issue is, I’ve no idea what I want to do. I’ve a background in farming before I started the ambulance service 17 years ago. Now I seem to be unfulfilled doing what I’m doing. I need a change. And possibly more family friendly hours. 
has anyone on here retrained after a long time in a job? Or have any advice/ideas? It’s a big jump, and a very scary prospect at the moment, but something needs to change for my own mental health. 

[Centrepin]

Have you approached your employer and talked to them about lessening your hours.

When I turned 60 and was still working 12-15 hrs a day on the lorries, I'd already said no more than 5 days when I started there. I asked to go on 4 days and my employer agreed rather than loose me. Experience in your field is irreplaceable.

[Dave at kelton]

Think about the general skills you have gained from your employments so far and decide which are interchangeable or transferable to another industry. Then decide what the market is for them and what you want to do. Then sell yourself in that area.

Thats what I did five years ago to move to Scotland and go down to three days a week.

Good luck!

[Medic1281]

I’m in the process of dropping my hours at the moment. But, I’ve lost the love for the job. I’m tempted to just do odd jobs, service lawn mowers and cut lawns during the summer, and keep 50% hours on the ambulance to keep some money coming in. 

[ditchman]

regular reliable garden work...............you will NEVER be short of money

[Mungler]

1 hour ago, Medic1281 said:

Hi. I’m looking to cut my hours as much as possible at where I’m working, and either retraining or going self employed. My issue is, I’ve no idea what I want to do. I’ve a background in farming before I started the ambulance service 17 years ago. Now I seem to be unfulfilled doing what I’m doing. I need a change. And possibly more family friendly hours. 
has anyone on here retrained after a long time in a job? Or have any advice/ideas? It’s a big jump, and a very scary prospect at the moment, but something needs to change for my own mental health. 

I know someone in a similar position and I think he lurks on here. He got himself some HSE qualifications and a white collar job on an oil rig. 

[Goldfish]

Self employed odd jobs and gardening was what allowed me to semi-retire at 50, as @ditchman says a few regular customers on millionaires row is all you need, every town and village has a street thats got big houses and lots of land.

[TIGHTCHOKE]

45 minutes ago, Medic1281 said:

I’m in the process of dropping my hours at the moment. But, I’ve lost the love for the job. I’m tempted to just do odd jobs, service lawn mowers and cut lawns during the summer, and keep 50% hours on the ambulance to keep some money coming in. 

Would that not leave you liable to a higher tax rate?

[Medic1281]

5 minutes ago, TIGHTCHOKE said:

Would that not leave you liable to a higher tax rate?

I’m not sure about that at the moment. Something I need to look into. 

[Jim Neal]

5 hours ago, TIGHTCHOKE said:

Would that not leave you liable to a higher tax rate?

Depends what method of payment the customers use, could be a lot lower

5 hours ago, Medic1281 said:

I’m not sure about that at the moment. Something I need to look into. 

If the gardening work is fairly low level turnover and you're paid in physical currency, Mr Sunak's office are probably best not hearing about it 

I'd personally not bother with the hassle of submitting a self-employed tax return unless the amount of profit really justified the cost of using an accountant.  For a very simple self-employed setup an accountant would probably be around the £400 mark annually to do your profit & loss account and submit your tax return.

However, you could look at it another way: operating a business above board means you can claim any expenses reasonably associated with your business.

For example, if I started a business doing gardening the first thing I'd do is buy a pickup that was used for the business but coincidentally also ideally suits my needs for shooting/gamekeeping purposes.

Anything at all you buy like electrical goods, tools, consumables like nails & screws.... all of your outdoor clothing...the list goes on, and these are big expenses.... if it could be reasonably assumed to be a business cost, down it goes in your books.  If you're not in the position where you need to present proof of a sizeable profit to a lender in order to obtain a mortgage or loan, then you don't need to make a profit "on paper" out of a small business.

Plenty to think about, good luck with it

 

[TIGHTCHOKE]

Jim, that would then suggest not bothering with insurance as that might give the game away!

 

I wouldn't work without some form of insurance.

[Scully]

16 hours ago, Medic1281 said:

I’m in the process of dropping my hours at the moment. But, I’ve lost the love for the job. I’m tempted to just do odd jobs, service lawn mowers and cut lawns during the summer, and keep 50% hours on the ambulance to keep some money coming in. 

Is there no scope for sub contracting on a self employed basis to your current job, then you choose the hours you work? I would think someone with your skills would be desperately sought after and more or less able to call the shots? 

As has been mentioned, I know a few folk doing gardening, soft landscaping jobs, and they’re always busy. If you’re handy with DIY you could add constructing composters to your CV. People with substantial gardens are building them like crazy at the moment. 

[Old farrier]

Have you got good skill transfer ability 

you may find you could train people who work for corporations (firstaid)  seems every business needs them 

just a thought 

[7daysinaweek]

37 minutes ago, Scully said:

Is there no scope for sub contracting on a self employed basis to your current job, then you choose the hours you work? I would think someone with your skills would be desperately sought after and more or less able to call the shots? 

As has been mentioned, I know a few folk doing gardening, soft landscaping jobs, and they’re always busy. If you’re handy with DIY you could add constructing composters to your CV. People with substantial gardens are building them like crazy at the moment. 

As Scully asks above and assuming that you have not already considered, I can say that you have options which may enable you to strike a better work-life balance.

Making the assumption from your post that your current qualifications are bound to some extent to your professional body. If you have not already done so, have you thought about additional training to become an ACP advanced care practitioner? Your current knowledge and skill base would be hugely transferable. Part-time training alongside reduced hours in your current role would see completion in 12 to 18 months, assuming that you are a senior paramedic.

The initial cost of the training would pay for itself in a very short time once you gain the qualification. Health education England (HEE) offers funding support for tuition/fees/pay support for most health care professionals on an individual basis. (Link below)

https://healtheducationengland.sharepoint.com/Comms/Digital/Shared Documents/Forms/AllItems.aspx?id=%2FComms%2FDigital%2FShared Documents%2Fhee.nhs.uk documents%2FWebsite files%2FFunding Guide%2FNHS Education Funding Guide 2020-21 FV.pdf&parent=%2FComms%2FDigital%2FShared Documents%2Fhee.nhs.uk documents%2FWebsite files%2FFunding Guide&p=true

GP practice, AED, walk in centres are all looking for ACP qualified staff and I know of many who work on a self employed basis and choose part time regular or ad hoc hours which strikes a work-life balance enabling them to continue patient contact, allowing them more personal autonomy. I know of several paramedics who have taken this route and this has allowed them to reduce from full time to part time with no reduction in overall pay as the increase in knowledge, skills, autonomy and accountability is reflected in the pay.

Obviously the change in role brings increased accountability which can in some ways form its own challenges and this is something that you would need to weigh up. As said, I know of a few paramedics who have taken this route and found that in many ways they had more control over what presenting conditions in patients they would see. More often than not in a more controlled environment with more clinical support, safety and mentoring from colleagues when advice is needed or when an emergency arises.

This comes down to a minimum expected competency commensurate with knowledge and application of patient care. From my experience, most employers and locum employers are happy to work with your personal skill set. Obviously you would be working within your scope of clinical and professional practice and remit of your base area to an extent.

Our lives change and as we pass through on our journey our goals and expectations change. I would think for most, if asked what do we want from life would be the same as myself and I would say it is to 'feel safe, secure and have the ability to make meaningful choices.'

With all sincerity, 'I doff my hat to you'

If you are looking for a total move away from patient care then may I wish you all the very best.

7diaw 

[Medic1281]

7diaw, that’s a very comprehensive response, many thanks. I’ve considered the acp route, but feel I’ll struggle to find the motivation for it. As I fear I’ve lost the love, interest, in the job completely. I feel I need a different focus in my life that isn’t healthcare. Although, there is a rumour of a UCP role coming up at my local gp surgery which I’ll keep an eye on. 
i genuinely enjoy helping people, and feel that a handyman / lawn mowing service would suit me, especially in this area. I’m also considering applying for the retained fire service as im only 300m from the local station. 
I’m just really confused and unsure about everything at the moment, because I used to really love my job. 

[NorfolkAYA]

Have you though about taking a sabitacal from work? 

 

[henry d]

Best place is whatever the equivalent in England is to careers Scotland, they are professionals in determining what you are qualified to do, what skills you have etc etc and helping formulate a plan forward. Many employers look toward people who have both qualifications and experience in both life and their particular field and from what you have said you seem to be going towards life rather than work balance so they will also pick that up and give you direction. There is also a lot of help for those who want to go down another route and get other qualifications and directions, lifelong learning is the buzz word so use it when you can and best wishes

[Lloyd90]

On 06/11/2021 at 19:35, TIGHTCHOKE said:

Would that not leave you liable to a higher tax rate?

Why would it necessarily leave him liable to a higher tax rate? 🤔

[Jim Neal]

1 hour ago, Lloyd90 said:

Why would it necessarily leave him liable to a higher tax rate? 🤔

I meant to comment on that above.  The "tax code", i.e. the amount you're allowed to earn before they start taxing you, is (I believe) the same for employed or self-employed people at the lower level of earning.  Currently around the £12k mark I think.  Therefore it doesn't matter whether your income is solely from employment, solely from self-employment or a mixture of the two.

The only additional tax burden of self-employment can come from Class 2 plus Class 4 National Insurance - but that too has a threshold, under which you're not eligible to pay the percentage levied but still have to pay a tiny amount (like the "standing charge on your water bill) per week which equates to roughly £150 a year, peanuts in other words.

18 hours ago, TIGHTCHOKE said:

Jim, that would then suggest not bothering with insurance as that might give the game away!

 

I wouldn't work without some form of insurance.

Indeed when working on site at customers' property it is advisable to have an insurance policy covering Public Liability up to £5M at the very minimum.  Maximum £200/year, probably a lot less for gardening work.

There's nobody at the insurance company who's going to know anything about the tax affairs of their customer, let alone snitch on them to the Inland Revenue, so having an insurance policy isn't like trying to hide in a forest whilst lighting a rather smoky camp fire   You're anonymous to the IR until you start volunteering information to them

[TIGHTCHOKE]

An interesting thread with some very telling comments.

 

Let's take it up a few levels, I'm sure many people who work and pay their dues would are offended by the major conglomerates that manage to work within the tax laws and have accountants that are "creative" to decrease their tax bills.

I hate paying taxes, but see it as necessary for the "greater good" and would hope most people would.

[Mungler]

23 minutes ago, TIGHTCHOKE said:

An interesting thread with some very telling comments.

 

Let's take it up a few levels, I'm sure many people who work and pay their dues would are offended by the major conglomerates that manage to work within the tax laws and have accountants that are "creative" to decrease their tax bills.

I hate paying taxes, but see it as necessary for the "greater good" and would hope most people would.

Daylight Robbery by Dominic Frisby, is a very interesting book / audio book on taxation (history, purpose and effect etc).

Long story short:

1. Big government is expensive and comes with higher permanent rates of taxation. ‘Government’ likes to feed itself - create new departments, roles, bodies and so on, from nothing and nowhere but it all needs paying for.

2. There is not one example where any government project came in on time and on budget in advance of what was / could have been achieved in the private sector. In short, any money spent by government is inefficient and has a large chunk of wastage built in. Following on, if you believe that your tax pounds are doing some good somewhere, you are about 10% correct. 

3. the system that has historically worked best is the Hong Kong flat rate tax system but coupled with ‘small’ government.

I recognise tax is absolutely necessary but I don’t think that there is any moral duty to pay anything more than the absolute bare minimum that the law provides for, or to over pay or volunteer to pay more (which is what you do when you pay more than the bare minimum you have to). 

[TIGHTCHOKE]

11 minutes ago, Mungler said:

Daylight Robbery by Dominic Frisby, is a very interesting book / audio book on taxation (history, purpose and effect etc).

Long story short:

1. Big government is expensive and comes with higher permanent rates of taxation. ‘Government’ likes to feed itself - create new departments, roles, bodies and so on, from nothing and nowhere but it all needs paying for.

2. There is not one example where any government project came in on time and on budget in advance of what was / could have been achieved in the private sector. In short, any money spent by government is inefficient and has a large chunk of wastage built in. Following on, if you believe that your tax pounds are doing some good somewhere, you are about 10% correct. 

3. the system that has historically worked best is the Hong Kong flat rate tax system but coupled with ‘small’ government.

I recognise tax is absolutely necessary but I don’t think that there is any moral duty to pay anything more than the absolute bare minimum that the law provides for, or to over pay or volunteer to pay more (which is what you do when you pay more than the bare minimum you have to). 

I completely agree with you;

The Flat Rate (Hong Kong) system would be a good start, everyone paying the same percentage. 

[discobob]

47 minutes ago, TIGHTCHOKE said:

I completely agree with you;

The Flat Rate (Hong Kong) system would be a good start, everyone paying the same percentage. 

I have an argument with people when they say people who earn more should pay more tax (where they mean a higher tax rate %) and I explain that they do (actual tax paid) without  having a higher tax % and a flat rate would be better - but I do feel that there is an amount where a higher tax rate should come into effect but I feel that it isn't anywhere near where it currently hits in as there has been fiscal drag on this for years.

A simplified tax single tax rate would mean for a reduction in tax staff. I wonder what the costs are for each pound collected??

[Mungler]

The interesting bit is when you look at what any business actually does and when / how money moves. 

I have a client who runs a payroll bureau service with high a volume of turnover but thin margins.

The client says that pound for pound, 75% of the money movements and business time expended by his business is as an unpaid agent of HMRC - collecting and accounting for VAT, PAYE, NIC and NEST pension contributions.

I then ran a similar exercise for my business and it’s an eye opener - there are a lot of unrewarded / unpaid hidden costs in doing any business.

[Medic1281]

So where do I start? Facebook business page and just see what happens? Get public liability insurance is a must. I’ve got all the tools needed to make a start so very little expenditure needed. How do you actually set up a business, how does it start? These may seem stupid questions to some, but having always been employed, it’s stuff I’ve never had to deal with.