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Ask HN: Should I cash out my 401K and try to get my dream job?

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11–20 of 62 posts

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#11
Don't cash out your 401K.

I think you would be better off finding a sub-par non-dream job that lets you work on things that bring you closer to achieving your real dream job. For instance, if you are interested in javascript technologies you could try to find a contract involving node or angular and become more active in the online communities around those tools. After 3-6 months scope out the market with your new skills/network and see what else is available.

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#12
If you are indeed a good engineer you could do all those things on a single weekend:

1.) Sign up for GitHub, fork a project, and improve it

3.) Answer 2-5 hard questions on StackOverflow

4.) Profit

They just want to see your skill. You shouldn't answer "a ton of questions" on StackOverflow. Just answer a couple hard ones. Somehow prove that you've actually got stuff done over the last 13 years. There are programmers that just started to learned the skill a few weeks ago, with tiny, but active projects in their GitHub.

ps. I hate when people say that they don't have something (GitHub account) that takes 30 seconds to signup for, is free, and is very important to solving their current issue. There's usually a deeper issue at that point.

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#13

For clarity: my dream job is one that has a great culture, interesting work, is making money, and is remote friendly.

I'm in the exact same situation. I have a kid and a wife that take up the Lion's share of my time. As well as working at a PCI compliant company that forbids me from showing my best work to anyone else. It's a struggle and a challenge, but I've explained my situation and my frustrations to my wife and we try to carve out a few hours here and there and a few more over the weekends for me to build something that I'm ab…

[deleted]

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#14

Earlier quoted context omitted.

I'm in the exact same situation. I have a kid and a wife that take up the Lion's share of my time. As well as working at a PCI compliant company that forbids me from showing my best work to anyone else. It's a struggle and a challenge, but I've explained my situation and my frustrations to my wife and we try to carve out a few hours here and there and a few more over the weekends for me to build something that I'm ab…

I knew I was not alone, but it's good to hear it just the same.

Same here, I have three hours during the weekend that are mine to hack on projects. But beyond that I have a notebook I constantly am writing down ideas and thoughts in. During lunch time you can spend it working on problems. And then there is vacation days. How about taking a day here or there to concentrate on the projects you want to invest yourself into?

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#15

For clarity: my dream job is one that has a great culture, interesting work, is making money, and is remote friendly.

I think with the market being what it is, you can probably get a great job that matches your expectations without creating a 6-month-runway-no-retirement-funds stress inducer machine for yourself. Unemployment is a great new job's worst enemy. You can always negotiate from a more comfortable position if you keep your current job.

I can't really give more specific advice with the information you've provided, but spending your retirement savings and risking your family's financial safety in order to get a nicer job seems unnecessary. You can probably engineer a solution without those risks.

I'm sure you are aware of this, but "not having time" is a relative notion.

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#16

Just a point if clarification: by "cash out" do you mean all/majority of your 401k? If so it's not a good idea. Some small percentage could be considered, by in general you should only do so in an emergency. There are penalties for early withdrawals. Can you dedicate an hour a day to OSS? Or perhaps spearhead an project at work to be open sourced? Have you tried applying for positions that qualify as your dream job?…

>Can you dedicate an hour a day to OSS? Or perhaps spearhead an project at work to be open sourced?

He mentioned that he is not allowed to do these types of things while employed at his current employer. I always find that kind of clause crazy. If I want to spend my evenings playing video games the company would be fine with that, if I want to spend it creating video games no dice?

I imagine it is going to be harder and harder for companies to create anti-moonlighting clauses as time progresses.

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#17

1) Do not cash out of your 401k. The penalty and taxes make this never worth it. Along with you not getting the long term compounded interest it is started as. Instead, work for a few more months to have an "emergency fund" that allows you to live life without an income for a few months.

2) If you're willing to quit your job to make contributions to GitHub, you might not care if the company

--A) makes the unlikely discovery that you are putting non work related projects on GitHub

--B) cares that you are coding and posting online in your spare time

--C) decides to terminate you for this.

--If your IP is questionable, you may not want to contribute to large open source projects - or you could ask your HR for an exemption for specific projects.

3) If you don't have time (and especially if you are in a job that you want to quit), make the time. Segment your life as much as possible while your work / hourly expectations are met to a reasonable standard to which you want to work (at any company)

4) This is additional, but if you want to work at a company with a great culture, remote work, and reasonable expectations, it's important that you understand how to do the numbers above in a forward and friendly way.

--A) If you are familiar with working too long, you especially need to learn to segment yourself when working remotely.

--B) If you are familiar with working too long, you especially need to ensure that you don't try to encourage others to not segment their lives. (There are always things to be done, but everybody should be able to go home and spend the evening / weekend with their family)

--C) You will be much happier in your life / job if you have the ability to not have to use your 401k to work a few months.

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#19
Do you have a company in mind that you would love to work for? Have you contacted them and did they reject you for any particular reason?

Start with the end in mind. "I want to have X job" is a decent start but you should narrow that down to "I want to have X job, in Y industry and here are N example companies I would love to work for."

Investigate these companies and look at the developers they hire. Do they all have github accounts? Chances are you'll see a lot of blank profiles and the occasional blog last updated in 2008.

If you do see many people with very impressive online personas then start working with these people. Start working on the same OSS projects they are working on. You might find you don't like these people as much as you think you do. On the other hand after a few months they might say "Hey this notarockstar guy is pretty good, maybe we should hire him".

Oh and don't cash out your 401k

Re: Ask HN: Should I cash out my 401K and try to get my dream job?

#20
post #3

Many of the world's best engineers don't have a Github / OSS contributions / Stack overflow / etc. They're still quite hireable. It is highly likely you are also hireable, even without a portfolio that you can conveniently point to, although that would be an asset. Do not cash out your retirement account. [Edit: Generic personal finance advice for everyone: Unless your children will starve in the snow otherwise, it i…

Have all of my up votes. This. A thousand times this. The short answer is, "no, do not cash out your 401k."

The long is answer, is that there is probably another way. Make it a goal and put savings away for specifically that purpose. Find another job that may not be your dream job is friendlier to out of the office work. Maybe consulting?

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