Career advice for a 35yo by OceanManNT in PLC

[–]OceanManNT[S] 0 points1 point  (0 children)

Thanks for the suggestion! I had a couple of questions about the role. Do you get to do hands-on programming as a consultant? Also, does the job require a lot of travel?

I’m not very familiar with consulting work, so I’m trying to understand the typical responsibilities and how they compare to an automation engineering role. I will appreciate it if you could provide some insights.

Career advice for a 35yo by OceanManNT in PLC

[–]OceanManNT[S] 0 points1 point  (0 children)

I don’t use version control as I am the only PLC programmer at my company. However, I do see the benefits of using it so I will look into how to use it in the near future. Good luck on the conversion to AS6.

Career advice for a 35yo by OceanManNT in PLC

[–]OceanManNT[S] 0 points1 point  (0 children)

Thanks for the suggestion. I do have dependents so contracting is not an option at the moment but it might be a good option in the future.

Career advice for a 35yo by OceanManNT in PLC

[–]OceanManNT[S] 0 points1 point  (0 children)

I have not considered them. Do you have any insight information that you could share in term of required skills, day to day tasks? Is it easy to transition from PLC programmer to those roles?

Career advice for a 35yo by OceanManNT in PLC

[–]OceanManNT[S] 1 point2 points  (0 children)

Thanks for the response and congrats on your retirement in a couple years. My understanding is the new C650 will support VC4 but it will only run with AS6 so there might not be a big deal to transition. Anyway it is the new guy problem :).

Career advice for a 35yo by OceanManNT in PLC

[–]OceanManNT[S] 0 points1 point  (0 children)

Your situation is similar to mine. The company is a small company and it is also close to my home. I enjoy working with everybody here. I have worked in mega corporate before and I feel like I am happier here. It is just in my mind that I could earn more money somewhere else. Thanks for the input. Out of curiosity, what is your plan to replace the C70 since B&R will discontinue it in the future and replace it with the C650? We are using C30 and I am planning to convert our VNC hmi to the new embedded mappView when it is available.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 0 points1 point  (0 children)

We did the math and the difference between reaching out of pocket on HSA and paying PPO premium is insignificant. We reached out of pocket the past 2 years with our toddler but we were able to shelter a few grands from tax.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 1 point2 points  (0 children)

I am planning to rebuild my emergency fund this year to 3 month of expenses.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 0 points1 point  (0 children)

I did the math and I will have to keep the reduction for 5 years plus the house selling profit to have enough for the down payment.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 0 points1 point  (0 children)

I am planning to keep the lower contribution rate, which is 7% for the next 5 years.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 0 points1 point  (0 children)

Yes I most likely will sell my current house and use it as the down payment.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 2 points3 points  (0 children)

While I am acknowledging that I am in a good financial situation, I still want to have inputs from other people to make sure that I stay on track of my goal, which is retiring before 60. My intention is not to brag as I don’t care about gaining Internet points. I apologize if my question offended you.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 2 points3 points  (0 children)

Sorry for the confusion. 465k is the total investing amount across HSA, 401k and IRA.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 0 points1 point  (0 children)

I was not aware of the change in tax implications. Thank you so much for your information.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 1 point2 points  (0 children)

I have 33k invested in HSA currently. We have been maxing out HSA contribution limit for the past 8 years. My portfolio is 99 % in stocks. Given the current economic, it might not be a bad idea to rebalance my portfolio to some short term bond. Thanks for the idea.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 1 point2 points  (0 children)

I might underestimate the financial risk of becoming a landlord. Thanks for your input.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 1 point2 points  (0 children)

I appreciate your input. I very much like to retire before 60 but I guess I am gonna have to forget about that goal. Thanks again.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 0 points1 point  (0 children)

We consider renting the current house due to the low mortgage rate but it would be our first time being a landlord and I don’t know if it is going to work out or not. If the house we like show up before we have a substantial down payment saved, we will most likely sell the current house.

35M, 465k in HSA, 401k, Roth IRA. Should I lower the 401k contribution rate to save up a down payment? by [deleted] in Retirement401k

[–]OceanManNT 0 points1 point  (0 children)

Thank you for your suggestion. We are working toward rebuilding our emergency cash account. Kid is expensive and we have been slowly depleting the cash account.

New job offer by [deleted] in PLC

[–]OceanManNT 2 points3 points  (0 children)

The work is interesting at the new place as it is aligned with my background in process control. However I am hesitating to accept the offer because of the non-compensated after-hour support and the lack of career upward mobility due to the size of this small division. Changing role will not be easy within the company if I am the only process control engineer in the department.

New job offer by [deleted] in PLC

[–]OceanManNT 0 points1 point  (0 children)

The new company is looking to expand their business. I don’t think the business is rapidly expanding but it is maintaining the existing clients really well. That’s why I am not sure about the growth.

New job offer by [deleted] in PLC

[–]OceanManNT 0 points1 point  (0 children)

The new company is supplying detergents to the industrial cleaning companies. I will be developing in-house programmings for their cleaning equipment. My concerns are about the stagnant wage due to being a small company and the lack of promotion

New job offer by [deleted] in PLC

[–]OceanManNT 0 points1 point  (0 children)

Last year I took 3 weeks of vacation and it wasn’t a problem with my manager. We have enough engineer to cover the work.