Hey Guys so glad I found this site this is my first post so I aplogize if this subject has already been addressed I am curently A plumbing and Piping foreman for a large commercial contractor in my area and my wife works as a receptionist at a local doctors office Together we just dont make enough money We are not extravagant by any means or even ever do anything But it seems like we are always strapped no matter how tight a budget we live on However lately we have been bombarded with medical bills ......Anyway I am 34 yo husband father of 2 toddlers and dying to make a career change I have recently started studying for my life and health license I would like to follow this up with my series 7 and be able to help blue collar people like myself who cant see the light at the end of the tunnel (retirement plan) show them that it is possible to retire and not die on the job and if god forbid somthing premature did happen their family would be taken care of
AM I Crazy Or is this a legitamate avenue to pursue if so any tips on how to do so would be greatly appreciated I have 20 + years left to invest in somthing and know I will be better off doing almost anything than what I am doing now

For starters, use paragraphs. Your post is very difficult to read.

Secondly, take baby steps. You can't turn the ship around in one turn.

Is there anything in your related field that you could make a progressive move into? I understand wanting to make a career change, but if you could get a higher salary for something within your industry I would encourage you to do that first.

Does your wife have any other skills other than receptionist work?

With two toddlers neither of you are going to have a lot of free time, but you might consider taking a lower paying job on the weekends or nights to get industry experience in the area you want to target.

Just some ideas.

If you want to help blue collar people see the light at the end of the tunnel, I fear you will be sorely disappointed with an insurance license and the Series 7. Having worked inside of that industry, I can tell you that it is not structured to help the working man.

Brokerage firms and Insurance companies play on the dream of "helping others out" and "having a rewarding career" while making a lot of money in order to recruit massive numbers of people into their ranks. Most will quit in short order because they are not closing enough sales to feed their families or they are not willing to close their eyes and ignore what's really doing on (peddling expensive products as the cure-all to people that would be better served elsewhere). The brokerage or insurance company will keep the few accounts that were brought in (usually friends and family) before someone washes out and then redistributes the accounts to the people with higher sales numbers.

So, if you want to make more money AND help others, insurance and securities brokerage would not fit that bill.

I will second Dylan's experience -- not as having worked in the industry but having been sold an insurance product via the friends & family circuit in my pre-indexing days. This friend sold a total of two policies before exhausting her network and soon gave up. Some of these companies are MLM-like where they depend on new people trying to get into the business to tap into newcomer social networks.

First I guess I would have to ask where you live. I live in Houston and down here there are lots of pipefitting/foreman jobs that pay well enough to support a family. I was a pipefitter for 10 years and always made good money, though sometimes 70 hrs. a week on shutdowns. I have now moved into the construction estimating role and my wife recently had our first child. I make good enough money to put the IRS max in my 401K as well as buy some company stock and also invest in a 529 for our new daughter. Though this eats up most of my monthly income, we still do not feel the pressure for my wife to go back to work. All that said the piping foreman's on this site make at least what I do yearly if not more since they still get OT. I am almost finished with my assoc. degree and I believe that's what helped me get this position (most people in this business are not very educated). Do you have your NCCER cert.? this could help you get a job in another part of the country that paid better, assuming you were willing to relocate.

I appreciate all of the replies thus far, Dylan If this is not a legitamate way to earn more money any suggestions, one of the other posts suggested I would be doing this all through 1 company I wouldn't.

This would be done for me by me just needing someone to sponsor for the series 7 eventually

I believe I could find a family member to do so. were not close but I believe if I was ready he would help



I was hoping to eventually get my series 66 down the road maybe I wont be able to help everyone

I am mainly concerned with helping my family they are number to me and deserve better than I can currently provide

THANKS

Are you making all that you could from your existing job? Could you pick up overtime? Add to your skillset? Do jobs on the side, perhaps on weekends and evenings or early mornings? The trades are so hot where I live that some people would be thrilled to have someone who could do work on evenings or weekends.

What about emergency plumbing? I recently paid $400/hr for the first hour and $200 thereafter for a Sunday plumber, when my home was flooding. My family member works from home as a dispatcher for emergency plumbers (in another city) and it sounds like emergency plumbers have it made.

Do you do any other trades work? Could you become a licensed home inspector? Again, you could pick up work on the side.

Or home renovation consulting, especially with regard to plumbing?

Also, if your wife is working as a receptionist, what could she do to increase her earning potential? Could she move to administrative coordinator elsewhere? Office manager? Marketing assistant or marketing coordinator? Or something else?

I never said that it is not a legitimate way to earn more money. It is legitimate; it just may not meet your desire to help others at the same time. And, you may not make as much money as you do now.

You need the Series 7 exam to sell securities, not to provide advice. You must be sponsored by a FINRA member firm. You must then work as registered representative of a FINRA member firm. You cannot be registered with multiple firms at the same time.

Selling, in general, is a very difficult job. Do you know if you are any good at it? People are easily drawn in by the potential to make a lot of money (the more you sell, the more you make). But you are taking a risk by changing to a sales career so you can make more money. What happens if you’re not selling enough? You could potentially be lowering your income.

The people that hire you to sell are not trying to do you a favor; they are trying to help themselves or their company. If you don’t sell a lot, they just pay you less, lowering the risk on their end. It is in their best interest to dangle a huge, unattainable carrot over your head. If it doesn’t work out, they’re not worried about your family.

As far as my current career is concerned I have my masters plumbing license and state license I have been in my field for about 12 years

I work in new construction large commercial mainly I have done the service plumbing and yes the company does charge a ridiculous amount but the guy who did the work didnt walk away with much I promise also in wanting to provide better for my family
means wanting to spend time with them evenings weekends thats my time with my kids why would I want to be elbow deep in crap

Also I have two ruptured discs in my back from doing this kind of work I am doing everything I can to avoid surgery but it is inevitable if I continue doing the same type of work

I have thought about starting my own business but that takes a substantial amount of start up capital

I belileve I would be more successfull in 20 years with a career change I enjoy reading and studying about financial services but apparently I am going about it the wrong way, any suggestions
Again I was going to get licensed on my own not affiliated with any company until time for the 7 then.......

dude. I would die to get into plumbing or electricity.

Three words: green collar jobs.

plumbing: grey-water reclamation and rain-barrel installation/purification as a side job

electrician: solar and wind power for the urban lifestyle.

oh. my. god. What I'd give to get an apprenticeship ANYWHERE in Portland.

If you are an Evangelical Christian, you could become a Dave Ramsey certified counselor (or whatever they're called) that's more like helping people than being an insurance sales man. Maybe being an

If you're good at figures, have you thought about getting into tax preparing?

Something like home inspection, or buildings code/regulations approval might tie in better with your current job and would be less hands on (and so prone to injury).

Othewise, think about the skills you have. Would you make a good union advisor? That might be politics where you are, but I'm thinking that some unions provide financial advice to members.

my husband also has two ruptured discs from working in the trades. he has been out of the full time mechanic business for about 6 months now and the pain and numbness in his legs hass substantially improved without further medical attention. (prior to that, we had been doing intensive- and outrageously expensive- neurological intervention to keep him in the workplace.) changing careers soon will indeed save you and your insurance company hundreds of thousands in medical fees and heartache. the latter is for you and the family, not the insurance company.

so congrats on deciding to move on- but consider the amount of experience you have before changing fields completely. for instance- DH is back in school now for a related field, and we already own most of the equipment he needs to do the new job. can you find a new field that you will enjoy where you can help people and at the same time use your current credentials as leverage? it took a good 3-4 months of the grieving process and then soul searching for my husband to decide what he wanted to change his career into, and he ended up talking extensively with someone in the field as a way to determine whether it was right for him.

good luck whatever you decide to do.

The poster who metioned relocation really hit on an important topic.

Being in the right georgraphic area is just as important as being in the right trade. A job that you can barely make ends meet with on the west coast, maybe something you can live more comfortably with in the midwest... Its not only a cost of living issue, but also an issue of demand.

When the .com bubble burst my wife and I had to move from outside the bay area to Dallas. It was impossible to find work in technology in california because there was a complete glut of highly qualified software developers who had been laid off and were desperate for work. Ironically within a month I found a higher paying job in Dallas - Plus factoring in the much lower cost of living, we were able to save money, get back on our feet and eventually move to the pacific northwest.

I don't have any direct experience with the series 7, but I do have a friend who works in the financial services industry - He worked for a long time on trying to pass his series 7, and even then had to grind it out for several years before getting a job that pays decently. I think the older you get the harder a complete career change is. I would try to find something in a related field that you could transition into.

Well I Thank You all for the insightfull and speedy responses

Y'all ( as they say around here ) sure have given me alot to think about I will be sure to stay

around on the boards for the great advice I have been reading and keep everyone posted

By the way I live in TN

I'm in a similar situation in that I really want to get into a career where I can help people with their personal finances, not just sell them stuff. There are many companies out there that are just trying to recruit you to help them make a buck. Be very wary when they promise you things that seem too good to be true. I'm going the route of a financial educator and want to work with non-profit organizations. I will pursue a master's in family and consumer sciences and go from there. I wish you the best of luck in whatever you decide, but caution you to think it through.