Burnt out on Wall St...I need a new career

[addict]

Well, the handwriting's on the wall. I'm officially burnt out and I could use a little advice/help from you guys.

All I've known is trading and now I'm feeling totally burnt out. I used to stay in the office 'till 10-11pm and couldn't wait go in at 5-6am the next morning. It was exciting for me. Now, I can't "see" the market anymore. I can't focus, don't have the drive to stay late nor go in early.

Before 9/11, I was doing well enough to start my own trading company and at one point had 25 people working for me. After 9/11 everything changed. I had to shut down my firm and let go of all my traders and staff. I took a huge financial hit and on top of that my wife broke her hip in a freak accident right afterwards.

Perhaps it's just a natural progression or maybe 9/11 hit me harder than most people (I worked 2 blocks from the towers at the time). As some of you know, I went through a depression because of 9/11 and that's one of the main reasons why I started fishing (yes, it's helped a lot! ) Regardless, I think it's time I started to look for another job/career.

I graduated with a B.A. in business from Boston U. I went to 2 yrs of law school. I was a partner in a import/export trading company in Russia dealing with raw materials and consumer products. We also were the east european distributors for Omniglow corp. at the time. Those glow in the dark necklaces/bracelets you see at Great Adventure - break-and-shake-and-glow? Well, they also make commercial application products too (and fishing products ). I've also worked for my father's business at times (retail outdoor/sportswear products company) in purchasing and management. I'm also pretty good with my hands and have no problems looking at any and all options.

I've never applied for a job because I was always recruited as trader. I never worked for paycheck as I've always been in business for myself. I've consistently made over 6 figures until recently and the thought of making $30,000/yr in a entry level position to start a new career is scaring the ^$$#%! out of me.

I'm feeling as helpless as the first time I wet a line not knowing what the results will be. I could use a little input and advice.

Thanks as always...

[theSURF121]

Sounds like you have/had post traumatic stress syndrome. Maybe you would be well advised at seeking counseling. There is life after 9/11 and it is all good.

[fishweewee]

Vince, I hear ya. I'm burning out ... in Midtown. My last job downtown was a few blocks away from WTC - I left it shortly before 9/11. I used to eat lunch in the basement of that complex, I can't believe it's gone.

You're burned out.

Best advice I hear from career counselors is this:

Pursue a career where your interests overlap with your abilities.

One good place to start is

http://www.assessment.com

Pay a few bucks, take an online assessment. Might be helpful in focusing you.

Personality type also plays a role in what would be a good career matchup. A very helpful book I've read is...

"Do What You Are" by Paul D. Tieger & Barbara Barron-Tieger. (2001, Little, Brown)

This goes a bit into the Meyers-Briggs Type Indicator (MBTI) - fascinating reading.

Lastly, talk to a coach - feedback is enormously valuable.

Hope this helps....

-Ben

[addict]

SURF -

I've actually gone to a few therapy sessions and finally decided that I'm not cut out for it. I just got frustrated after a while and finally asked "So, what do I do now?". Therapist says, "come back next week and we'll talk about it", I said, "Adios".

Ben -

Thanks for the links and ideas. People have been telling me that maybe I should just take a little break and perhaps my head will be right again. I'm just not sure anymore. I'll check out the stuff you posted though.


Vince

[JohnR]

Addict - can you afford a 9+ month sabatical? If you can take 6 off, first 3 to recharge, next 3 to dabble and look for work/career change, 3 month plus reserve. Maybe you really need an extended vacation. What does your wife think? That's a critical thing to compare.

I've burned out before doing 60-70-80 a week IT, all nighters, 30 hour "days", for longer periods of time. I never had an opportunity to unwind (until being laid off) and was still bothered by it when I approached normal hours.

At least investigate being able to take some time to yourself. Believe me when I say there is nothing like a RELAXING string of sunrises by yourself, some fish, and the shoreline to melt many troubles away...

Good luck man!

[addict]

John,

The short answer is I cannot afford to take that kind of time off.
When I folded up my company, I took a huge hit. On top of that, when my wife broke her hip, her hip specialist was not under our HMO. So basically I had a double whammy financially.

Life is funny though, hopefully, it's playing a joke on me now to reward me later.

Thanks for you thoughts.

[179]

It seems to me with your education and experience you should be able to command more than $30,000.00 a year. Just spend some time trying to understand how your past experience may apply to jobs outside the investment market.

I used to do the 60-70 hour a work thing myself and had a 1-hour commute each way to top it off, I lasted 2-yrs and said enough is enough. I took large pay cut to work locally. Now I am in at 7:30 and out at 4:30 no overtime required. I am 10-mins from home and 2 mins from my boat slip. I couldn't be happier

[The Dad Fisherman]

Look into taking what you know and hooking on w/ a college and teaching. Take what you know and help pass it on. Or maybe doing it in a consultant role to other companies. You'd be surprised at the money you could make there.

[Jimbo]

You might pick up a copy of "What Color Is Your Parachute". I'm sure some would consider it dated, but I have used it a couple times to help me with career decisions and I don't believe the tool goes out of usefulness. You walk thru some exercises, that if done honestly, let you priritize your life goals and desires and see what you might like to be doing, or better still, a path to take. It's in paperback, probably with some revised editions out there, and shouldn't cost more than a few bucks. I used it before I got into IT here and when IT got to me (call it what you will) I used it to see if I wanted to stick around or move on. Good luck to you.

[addict]

thanks for all the advice...for now, I'm just taking a step back to see what's around the corner.

it's times like this when people play lotto I guess...

[Joe]

This is the first time I've read this forum so I don't know your history.....
I suggest following your heart and maybe talking to your doctor about the changes you have experienced....

I found that once I really looked at what I needed financially, I found that I was not really that far away from already having it. Education for son, retirement income, and enough money to do the things I really want to do. I'm not entertaining thoughts of a beach house. There is nothing wrong with not being a self proclaimed "master of the universe."

[Stewie]

.
Go find a contractor/carpenter, tell him you are a smart adult who will show up every day and not whine. He will hire you. As you learn the trade , the sense of accomplishment will be astonishing. You will make friends who make you laugh. In ten years it will hurt to get out of bed in the morning. Then you can go back to Wall Street and clean up again.

[addict]

Hey Joe, (nice song btw...)

Thanks for the words. Lately, I've been feeling something very similar. As a matter of fact, I'll tell a quick story about something that happened just a few days ago (I'll keep it short, I promise).

After a sunset-midnight surfcasting outing to the fire island area, I was driving back to manhattan alone in my buggy. I believe it was tuesday. We had a lightning storm that was passing us and one bolt of lightning came pretty close me. I was thinking, WTF? Is this a sign from above? Well, whatever it was, a thought dawned on me. "What am I so down and out about? I have 4 limbs, a head on my shoulder, and a beautiful caring wife." There are thousands if not more that are suffering way more than I am due to 9/11. I know of people who have resorted to drugs, alcohol, have lost their jobs, have post traumatic stress syndrome, etc... I might have lost some money but I am one of the lucky ones. There are so many people still suffering from 9/11 but oh how short our attention span is. We no longer hear about the suffering because we're busy with Iraq and other current events. Someone pointed out to me, "Just look at the Vietnam vets, they're still suffering."

That's when an idea popped into my head. I've asked for adivce from people who (whom? - always hated grammar ) I respect and they've told me bascially 3 things.

1. take a break.
2. don't give up my life/career experiences - it would be a shame.
3. do what I love (fishing)

When I thought about it, the path was clear. Whether this path ends up being the right one, I do not know yet. But I intend to integrate the above three things and do something about my situation and of those who are still suffering.

Well, thanks for listening, and if all goes well, you will all hear from me soon. Wish me luck.

[partsjay]

Addict,
Although I haven't gone through some of the hardships you have, and being that I am only 29 years old, I don't know if I have the answer for you either. I also have wondered to myself,"what the hell are you going to do?" Sometimes things in life just get so crossed up that you just can't think clearly, at least that's how I feel sometimes, and I am in a similar position that I cannot afford to take large amounts of time off ( married, family, house ). The one thing that you cannot forget is how fast time goes by, as long as you have your health and your family, everything else will takes it's course. Hang in there & keep on Pluggin'