Education & Work How brave are you?

PI takes bravery....to pull the trigger and borrow hundreds of thousands of dollars and trust others to look after it and pay you rent is scary....that's why most don't go there.

So my next question may be an easy "yes" answer for most here...or is it?

But what about your work?

Who has contemplated changing a job they hate, but provides relative safety and reasonable financial reward?...many people contemplate it, but never pull the trigger unless forced to.

But who here is brave enough to do it?...a completely different field, a different place/suburb even.

 

I don't love my job, but I don't dislike it either and while it doesn't pay as well as some jobs, it comes with great flexibility and benefits. Couple that with the fact that I'm "only" planning on working another 7 years and you may understand why I'm not jumping ship.
There is a good possibility that I will be made redundant at some stage, but if that happens that's okay too.

 

Have done it several times, there is always fear of the unknown...but as they say, "No Risk No Reward"

 

I was an IT contractor for 20 yrs - almost always on a 3 month contracts with an occasional 6 monther. It forces to you have a buffer, invest for the future, excel at your work and not to fear change - all these are optional for permies.

 

I have done it a couple of times way back in my PAYE days ... preferred it when the "change" came with voluntary redundancy ... but I knew I'd have no problems getting another job due to experience and (how do I say this modestly) personality. In the years since, even when not looking, I have been offered jobs.

Might be a bit harder now that I'm the wrong side of 45 ... also helped that hubby was working so always had a buffer.

Are you thinking of ditching the garage - selling the house - and starting fresh?

I know there is still work out there to be had ... talking to employer they lament the lack of "life experience" candidates and find it hard to "find" someone with good work ethic ... they don't necessarily want 3 degrees straight from uni

 

I did

I was miserable. Couldn't stand the boring role I was in. The money was good - but that was the only positive aspect.

On a particularly bad day at work, I was speaking with my mortgage broker about a new loan. During the chat - I asked him "how can I do what you do?" - he explained the process and the rest is history

Cheers

Jamie

 

I was in a comfortable government job on good money. I was bored. Unhappy.

I bought into a newly established business in the same field and have been growing and learning.

 

Selling the house - sort of a necessity, as to sell the business in it's current state would still leave unservicable debt, and me with no job.

After this, will still have a business, one IP, no debt whatsoever and even in it's current state the business will provide a decent income for as long as I want it.

It will allow us to move forward, get the roadworthy side of things up and running (takes considerable time and a few grand to accomplish), and get back into some more investing.

 

Completely the opposite here !

I've had plenty of opportunities to take on something with more potential but also more risk.

In fact I had one right around the time of the "keeping the business afloat" thread on SS - a good read of that put me back in my place. I was not prepared to take the risk.

Each time I've taken the steadier path and it has worked out well. I've been fortunate to be in MNCs that have moved me around and kept my skills up-to-date.

I've only moved twice really when largely there was no choice - with 15, 5 and 10+ stints.

Having dependents also reduces the risk profile on this but I think there are benefits to building on your organisation, industry and role experience rather than starting again. I have seen a number of people get frustrated and change - just before a great opportunity for them became available.

I cannot imagine have the same conditions elsewhere than what i have now - so not really even thinking about it anymore.

 

What about a secure, well-paid job that you enjoy?

I moved from my previous role after three years, despite enjoying the work and being very comfortable.

For me personally, I find that if I get too comfortable I stop progressing. Not an easy decision to make, but it's worked out so far.

 

Looking back while going forward,it's good to read something like this,and it also hardens you to be able to contradict yourself and take the plan forward..

Myself my job change came through my body falling apart,first broke my right hand then left hand while drilling through slabs and hitting the reo and the drill locks then wacko,came back from that then my shoulder packed it in ,at the time my wife had a good job,so after 26 years as as self employed I became a stay at home dad,you learn from the first day when you walk in the small private school till the last day, anyone that think being a stay at home dad is easy it is when you look back but at the times it can stress on stress then more stress..

 

Great thread BV

 

That sounds like a good outcome.

I think it is important to treat your PPOR like an investment as much as possible.

You cannot tie all your money up in fixtures and fittings - you need something growing in value.

The PPOR is a good way to make tax free income.

Sell the flashy house - get something we good land content and add some value.

We have always had dumps as a PPOR - but in really good areas.

Hope it all goes well for you.

 

I thought I was brave. Then I had my first child, and I've never known such fear in my life. He is a healthy happy 3.5 to boy. I have no idea how people with serious illness in their children cope.

 

That makes no sense (to me)..

The key word there is; ENJOY.

This trilogy of factors - to me - is employment Nirvana.

Very few folks achieve this.

If I had that, and knew about PI as we all do here, I would stay in that job, and pursue the PI as a sideline to feather the nest some more for extra lifestyle dollars and/or retirement dollars.

You can still "progress" - just in a different activity. The trick is not to get bored in the job I guess. If you enjoy it, that shouldn't happen I'd say.

The only time you would leave any job for another, or to pursue PI - is because you are not enjoying it, and/or to get rich so you can leave the workforce.

 

I also went from job I hated and felt trapped in similar to others above. Job was ok in terms of serviceability so the advice from some was to stick with it and keep buying more houses, but psychologically I need more than that from my life.

Simon Macks (Newcastle guy on SS, not sure if he posts on here) words stuck with me from about a decade ago - don't be a pedestrian in life.

 

Moved countries 3 times, first time just resigned in Sydney, flew to UK with no job, knew nobody, stayed 6 years then next country Switzerland 9 years, then finally ditched work completely and moved to Spain. Last 2 country moves were lifestyle choices, not about job or money.

 

Good thread Marc.

From a personal note I am pretty fortunate to have grown up in an environment where I was encouraged to give things a go, Even though my dad was very risk averse due to his extremely poor upbringing.

As a result I'm comfortable taking calculated risks and if I'm not enjoying something or want to pursue something I work out a way and go for it.

Ultimately I've got no kids, what's the worst that could happen? Lose some money? Not the end of the world.

I'm a bit odd in that I ideally need to be working on a few things at once or else I get bored so I'm always on the look out for what's next. It means I sometimes make mistakes and don't edit but I'm working on that