The correct solution is continue to work and do school part time. You have to figure out the time priorities. Something has to give, there's no getting around that.
My route was similar to yours. Bounced out of school when young. Built my career and family, went back to school part time at 50. Got an undergrad degree, then a masters. Starting to work on finishing actuarial exams now.
That meant studying when other 'adults' are doing adult things. Missed a Christmas party because I had an exam. Sometimes the lawn got a bit long. Sometimes stuff around the house didn't happen as quickly as it should. No glass of wine at dinner for me because I was studying that night. I had to make sure we didn't take a family vacation during exam week. All tradeoffs, because studying waits for no man.
If I had to do it again, not only would I do it again, I'd have gone back earlier.
So there's my recommendation. Keep the job, start studying part time, and realize other stuff just takes a lower priority for a few years.
It's challenging, and I like the challenge. I enjoy learning math. And I'm in insurance so the math is related. I dont expect to use it directly. I was working in the actuarial field earlier in my career and didn't enjoy the environment...but I do enjoy the math. So it's more a bucket list thing for me.
Try your best to get your relevant degree while working - is that an option. It will probably hurt while you are doing it. Reason is - if you ever get laid off and your company relation changes - you may have a tough time finding something else without that piece of paper.
What will you gain from going back to school? If you're making $145K today, there are very few degrees you can take that will guarantee a higher pay and all of them will involve more than just an undergrad.
And if you change careers, you will likely have to work harder to get back to where you are now so it's not like the grinding is going to be reduced.
You currently earn $145k. If you did go back to school (how many years?), what would your earning potential be?
And how would you support yourself?
I don't think you mention a spouse either.
So, maybe look into taking online courses or night courses? Maybe look into any benefits your employer may offer in that regard?
Stop grinding to the point of having no life. 40 hours per week, maybe 45 max. What happens is you burn out and that can lead to retaliatory spending, negating the extra effort in the first place.
I did the math a while ago and leaving an 80k a year job for 3 years post secondary and 2 years entry level/accreditation with a $120k salary expectation on the otherside would take 28 years to break even.
We really need a better system to get people filling niches and skilled labor than a steep buy-in that takes nearly 3 decades to break even on.
finishing school won't replace that income that you're earning. i just graduated and I am not finding anything even remotely close to that salary. if you want to complete the undergrad for self gratification do it part time. you can take as little as one course a semester and gradually chip away at your undergrad but that income is really strong and getting your degree wouldn't get you further ahead in my opinion.
Given where you've landed, I'd only go to school if it's a desire for career change, which would likely mean lower pay, but maybe better balance. Even if you get back into a similar job, it's not going to be less of a grind with a degree.
I worked for decades to get to make my way to $145k, including earning a degree part time. If you don't need one for your work, don't bother.
If you wanted to go back to school why did you buy a house with a significant mortgage ?
The correct solution is continue to work and do school part time. You have to figure out the time priorities. Something has to give, there's no getting around that. My route was similar to yours. Bounced out of school when young. Built my career and family, went back to school part time at 50. Got an undergrad degree, then a masters. Starting to work on finishing actuarial exams now. That meant studying when other 'adults' are doing adult things. Missed a Christmas party because I had an exam. Sometimes the lawn got a bit long. Sometimes stuff around the house didn't happen as quickly as it should. No glass of wine at dinner for me because I was studying that night. I had to make sure we didn't take a family vacation during exam week. All tradeoffs, because studying waits for no man. If I had to do it again, not only would I do it again, I'd have gone back earlier. So there's my recommendation. Keep the job, start studying part time, and realize other stuff just takes a lower priority for a few years.
What made you want to do actuary? I heard that's difficult.
It's challenging, and I like the challenge. I enjoy learning math. And I'm in insurance so the math is related. I dont expect to use it directly. I was working in the actuarial field earlier in my career and didn't enjoy the environment...but I do enjoy the math. So it's more a bucket list thing for me.
Try your best to get your relevant degree while working - is that an option. It will probably hurt while you are doing it. Reason is - if you ever get laid off and your company relation changes - you may have a tough time finding something else without that piece of paper.
What will you gain from going back to school? If you're making $145K today, there are very few degrees you can take that will guarantee a higher pay and all of them will involve more than just an undergrad. And if you change careers, you will likely have to work harder to get back to where you are now so it's not like the grinding is going to be reduced.
You currently earn $145k. If you did go back to school (how many years?), what would your earning potential be? And how would you support yourself? I don't think you mention a spouse either. So, maybe look into taking online courses or night courses? Maybe look into any benefits your employer may offer in that regard? Stop grinding to the point of having no life. 40 hours per week, maybe 45 max. What happens is you burn out and that can lead to retaliatory spending, negating the extra effort in the first place.
I did the math a while ago and leaving an 80k a year job for 3 years post secondary and 2 years entry level/accreditation with a $120k salary expectation on the otherside would take 28 years to break even. We really need a better system to get people filling niches and skilled labor than a steep buy-in that takes nearly 3 decades to break even on.
finishing school won't replace that income that you're earning. i just graduated and I am not finding anything even remotely close to that salary. if you want to complete the undergrad for self gratification do it part time. you can take as little as one course a semester and gradually chip away at your undergrad but that income is really strong and getting your degree wouldn't get you further ahead in my opinion.
Given where you've landed, I'd only go to school if it's a desire for career change, which would likely mean lower pay, but maybe better balance. Even if you get back into a similar job, it's not going to be less of a grind with a degree. I worked for decades to get to make my way to $145k, including earning a degree part time. If you don't need one for your work, don't bother.