I’m totally fine with a 40k pay cut

I have recently handed in my resignation from my current $165k role to move to a $125k role with a fraction of the responsibility (and hopefully problems). This puts me back to about what I was earning in 2019 - approximately $2500 (net) less a month.

For the past 3 years (at least), we have lived off my pay and saved the vast majority of my wife’s earnings.

I’m owed a bit over 4 months leave and will use the payout and some savings to pay off our house, meaning we have dealt with a 25yr mortgage in 13 years and the lack of mortgage and extra repayments going forward will mean that at the end of any given month, our net position should be the same as it is with my current pay.

Have I missed anything that is going to bite me with such a large pay cut is involved?