IU vs. algebra

So, had a nice little chat with the math department graduate student chairperson about my post-TIER options, which was actually a nice conversation. It was clear that he didn't think me a complete fool, just someone who (admirably, perhaps, though possible unwise) chose to take a path that was arguably the most difficult to get a thesis through IU. Basically, though, the options are limited if I want to stay at IU to basically changing my graduate department. In particular, if I want to research algebra, which is the only subject I feel real competent to attempt a thesis in, my option is to transfer to another school. Is that really something I want to deal with--starting a program from square one? Is going into teaching (and resultantly coaching) a better alternative? Does God have something completely different in store for me? These are not rhetorical questions--I'll take any responses I can get. :)