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Started By
Message
Change careers or stick it out?
Posted on 7/19/13 at 8:39 am
Posted on 7/19/13 at 8:39 am
Big decision coming up for the wife (no pics) and I. Seeking the opinions/advice from someone outside the situation that isn't as emotionally invested in it. Currently employed in our family business and all of the "familyness" is getting to me, but I do feel I have a good job.
I have extremely flexible hours, a paid for truck (gas/ins also), and a company phone. I make ~62k/yr but my free time allows me to also have a side job that usually nets me an extra 10k/yr cash. The biggest downside is lack of insurance but we get that through the company my wife works for. Also, her salary is ~38k.
I was offered a position with a chemical plant (operator) but it has a pretty long (and low paying)intern program before I start and the pay would be a huge cut for the first year or so. However down the road the pay and benefits would far exceed what we have now.
It's kind of a "do we rock the boat" and struggle for a bit for a chance to make more money, but lose a lot of the family time we have now because I'd be on shift work. Or continue on the "safe" route we are on and just be happy with what our current situation provides us. I hate to make it just about money because I feel we do ok, and we've been smart with our finances (only debt is the house, will be paid off in 10 years when I'm 40.
Appreciate any advice!
I have extremely flexible hours, a paid for truck (gas/ins also), and a company phone. I make ~62k/yr but my free time allows me to also have a side job that usually nets me an extra 10k/yr cash. The biggest downside is lack of insurance but we get that through the company my wife works for. Also, her salary is ~38k.
I was offered a position with a chemical plant (operator) but it has a pretty long (and low paying)intern program before I start and the pay would be a huge cut for the first year or so. However down the road the pay and benefits would far exceed what we have now.
It's kind of a "do we rock the boat" and struggle for a bit for a chance to make more money, but lose a lot of the family time we have now because I'd be on shift work. Or continue on the "safe" route we are on and just be happy with what our current situation provides us. I hate to make it just about money because I feel we do ok, and we've been smart with our finances (only debt is the house, will be paid off in 10 years when I'm 40.
Appreciate any advice!
4
Posted on 7/19/13 at 8:50 am to Venelar
I can certainly understand wanting to have more benefits, but how will you handle being on shift work. My ex was a shift worker for about the first 12 years we were married and we didn't have children at the time. It was difficult for us, can't imagine how hard it is with a family. Of course, he was a difficult person to live with even when he wasn't working shift.
Hope it works well for you whichever way you choose.
Hope it works well for you whichever way you choose.
Posted on 7/19/13 at 8:52 am to Venelar
I'm kind of in the same situation right now... Deciding what my next move is.
But I was watching Shawshank the other night and the Andy quote about living really hit home....
Do you go along, comfortable, but unhappy and complaining, or do you do something about it... Lifes fricking short.
But I was watching Shawshank the other night and the Andy quote about living really hit home....
quote:
I guess it comes down to a simple choice, really. Get busy living or get busy dying.
Do you go along, comfortable, but unhappy and complaining, or do you do something about it... Lifes fricking short.
Posted on 7/19/13 at 8:56 am to Venelar
It depends how big the family issues are. I've been in that position and know it isn't fun. Here's my thoughts:
What are your chances of inheriting the business?
How much value do you place on that flexible schedule?
What kind of savings do you have?
Is the extra pay worth the trade of in family time?
Personally, the flexible schedule and working for yourself goes a long way. You guys are making a comfortable living. The time with your kids is way more valuable than the money.
What are your chances of inheriting the business?
How much value do you place on that flexible schedule?
What kind of savings do you have?
Is the extra pay worth the trade of in family time?
Personally, the flexible schedule and working for yourself goes a long way. You guys are making a comfortable living. The time with your kids is way more valuable than the money.
Posted on 7/19/13 at 9:14 am to Venelar
My decision would be based on the likelihood of taking over the family business or getting in a position to be promoted as time goes.... If you are going to be stuck at 60k for forever I would jump ship... But if in 5 years you will be making 6 figures or more than 60k I would just suffer through it and enjoy the "comfortable" aspect that it brings.
Posted on 7/19/13 at 9:17 am to hiltacular
quote:
enjoy the "comfortable" aspect that it brings.
Place value on other aspects of the job besides pay. I am 30 years old, single, hardly ever work 50 hours a week, and make over six figures and would gladly sacrifice some of that pay to have a family at home.
Posted on 7/19/13 at 9:18 am to jmarto1
quote:
What are your chances of inheriting the business?
How much value do you place on that flexible schedule?
What kind of savings do you have?
Is the extra pay worth the trade of in family time?
-The business would be mine in ~7-10 years (whenever Dad retires). Now, I wouldn't jump to OT baller status or anything, but it would be nice raise, maybe another 8-10k.
-The schedule is key to me. My flexibility allows for me to help bring our son (almost 2) to the doctor when needed. Go meet the wife for lunch a lot, as well as go home every day for lunch which saves $$.
-Have enough savings to weather the initial pay cut but it will be tight considering for the first time ever I'll need to by a car, not to mention gas & insurance.
-Family time is the biggest. We bought an older home in the same neighborhood as my parents & my in-laws. Wanted my kid to be close to them..but at the same time if I'm always gone I didn't expect for them to raise him.
My gut is saying to stick it out and not follow the almighty dollar. But I'm also very aware that a career change at 30 may be much easier than a career change at 40 if I still wind up unhappy down the line.
Posted on 7/19/13 at 9:20 am to hiltacular
I was sort of in your position. I put off having a family and making decent bank to go to school and go into debt up to my eyeballs. I made no $$ for 4 yrs, aside from summer jobs. If I had to do it all over again, I'd do the exact same thing. What's a few yrs compared to the rest of your life. The friends I had who decided to get plant jobs out of school are all still working plant jobs and making good money, but no way would I want to trade places with them.
Posted on 7/19/13 at 9:25 am to Venelar
quote:
The schedule is key to me. My flexibility allows for me to help bring our son (almost 2) to the doctor when needed. Go meet the wife for lunch a lot, as well as go home every day for lunch which saves $$.
Flexibility like this would be my biggest factor. But that's me.
Posted on 7/19/13 at 9:28 am to Venelar
quote:
Venelar
quote:
The schedule is key to me. My flexibility allows for me to help bring our son (almost 2) to the doctor when needed. Go meet the wife for lunch a lot, as well as go home every day for lunch which saves $$.
quote:
Family time is the biggest. We bought an older home in the same neighborhood as my parents & my in-laws. Wanted my kid to be close to them..but at the same time if I'm always gone I didn't expect for them to raise him.
These 2 statements makes me think you would be much happier in the long run sticking it out at the family business. I've had to make a similar decision about 4 years ago. I choose to stay with the smaller pay for more family time. Never have regretted it.
Posted on 7/19/13 at 9:47 am to ThatsAFactJack
quote:
These 2 statements makes me think you would be much happier in the long run sticking it out at the family business. I've had to make a similar decision about 4 years ago. I choose to stay with the smaller pay for more family time. Never have regretted it.
This. In a few years you will be working for yourself. You will still be living comfortably. Also, how much is the business worth? (Answer that to yourself). You may be able to sell it one day and retire off of it.
Posted on 7/19/13 at 10:27 am to jmarto1
quote:
How much value do you place on that flexible schedule?
This is the only question that matters, as you get older
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