The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

LANDFILL Changing Jobs - Pay Cut

Status
Not open for further replies.

aaateam

PARKED
Mar 23, 2018
5
0
1
39
North America
This is a burner account to remain anonymous. I do have a question about a situation I am in and I want people's opinion. I know I can only make the decision but I would like to see where people's thoughts are at...

So I currently work a fly in/fly out position working 2 weeks on and 2 weeks off at a "remote" location. I make roughly $250,000 a year, with my performance bonus. In addition to this I get a 8% pension and company stocks (additional $35,000). I also get 15 days of vacation in addition.

Now I have kids and a wife, and have been thinking of moving back to our city.

I got an offer from a local company in our city but the pay is $125,000 with a 20% yearly bonus making it $150,000. There is a pension of 5%. No company stocks unless I invest X amount with them, then they match a certain amount. I also get 32 days of vacation in addition.

We could probably make the job at home work, but we have investments that cost us money every month. Leaving minimal amount for savings at the end of the month.

The job I currently have allows us to save quite a bit. We live comfortably.

My wife would like me to come back home, but not if it doesn't make sense. We like the 2 weeks off, and can travel without taking vacation. But it would be nice to be home working Mon-Fri.

The take home pay difference could be $4000-5000 a month.

What are your guys' thoughts?
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Ravens_Shadow

one foot in front of the other
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 2, 2012
845
3,518
886
Cary, NC
Do what suits you and your family. We can't make any choice for you. Your gut knows the answer so stop ignoring it. Do a weighted decision matrix from TMF if you really don't know.

But you're on an entrepreneurship forum. With all that money you could've started a business by now, assuming you've been a member for quite some time.
But you might be too embarrassed that you haven't taken any action towards a Fastlane business, hence the burner account. o_O
 
OP
OP
A

aaateam

PARKED
Mar 23, 2018
5
0
1
39
North America
Do what suits you and your family. We can't make any choice for you. Your gut knows the answer so stop ignoring it. Do a weighted decision matrix from TMF if you really don't know.

But you're on an entrepreneurship forum. With all that money you could've started a business by now, assuming you've been a member for quite some time.
But you might be too embarrassed that you haven't taken any action towards a Fastlane business, hence the burner account. o_O
Did you not read the first paragraph? My guts do not know the answer, that is why I am seeking opinions, not decisions from guys like you who can barely ready the first paragraph.

I have a business, it is not cash-flow positive right now. But I do have investments which are. You don't know what I do with my money...

Why the pissy and negative tone? Full of assumptions, would hate to do business with an attitude like yours...
 

lewj24

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 12, 2016
380
1,341
423
24
St. Louis, MO
Sounds like a major decision with very few details. I wouldn't trust anyone's answer to your question.

I would only ask you this: Which job aligns more with your goals? Gives the least stress? Gives the most freedom? Helps build quality relationships? Other questions of this nature may help you decide and these questions may not apply to you. It all depends on you goals/priorities/situation. Good luck.
 

Kennypaul

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Mar 19, 2018
132
208
161
21
Nigeria
I agree with @Ravens_Shadow.We can't make the decision for you(when it comes to your family decisions).You just have to think about it hard enough and make the right call.Good luck to you man!
 

GoGetter24

Gold Contributor
Speedway Pass
Oct 8, 2017
571
1,103
365
Various
Why are the investments costing money instead of making money?

My thoughts would be "OK, that's how much I can get in this city, noted." and then continue the FIFO job. I'd set a specific target for when I could quit the FIFO job, such as investment income is at X, or Y years, whichever comes first.
 
OP
OP
A

aaateam

PARKED
Mar 23, 2018
5
0
1
39
North America
Sounds like a major decision with very few details. I wouldn't trust anyone's answer to your question.

I would only ask you this: Which job aligns more with your goals? Gives the least stress? Gives the most freedom? Helps build quality relationships? Other questions of this nature may help you decide and these questions may not apply to you. It all depends on you goals/priorities/situation. Good luck.
What more info would you like? Like I mentioned, I just want opinions.

The position would be similar to what I have right now. Both jobs align with my career goals and have the potential for advancement. The one in my city more-so because a lot of retirement happening there.

Financially my current job aligns way more with my financial goals.
 
OP
OP
A

aaateam

PARKED
Mar 23, 2018
5
0
1
39
North America
Why are the investments costing money instead of making money?

My thoughts would be "OK, that's how much I can get in this city, noted." and then continue the FIFO job. I'd set a specific target for when I could quit the FIFO job, such as investment income is at X, or Y years, whichever comes first.
I would contribute it to investing in real estate at a bad time, and now the rental market is over-saturated.

Thanks for your input.
 

GoGetter24

Gold Contributor
Speedway Pass
Oct 8, 2017
571
1,103
365
Various
I would contribute it to investing in real estate at a bad time, and now the rental market is over-saturated.

Thanks for your input.
What if you just liquidate them?
 

Don't like ads? Remove them while supporting the forum. Subscribe.

p0stscript

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Feb 7, 2018
153
379
184
59
UK
So I currently work a fly in/fly out position working 2 weeks on and 2 weeks off at a "remote" location. I make roughly $250,000 a year, with my performance bonus. In addition to this I get a 8% pension and company stocks (additional $35,000). I also get 15 days of vacation in addition

Both jobs align with my career goals and have the potential for advancement. The one in my city more-so because a lot of retirement happening there.

Financially my current job aligns way more with my financial goals.
Since both align with your career goals and the one you have now aligns with your financial goals I'd stick with that one.

Now as you mentioned in your opening post only you can make the decision, but my opinion will have caused a reaction within. You will think "yes he's right" or something along the lines "I not sure it is, I prefer the city option", either way the decision's made. If you're still undecided toss a coin.
 

Vigilante

Legendary Contributor
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 31, 2011
9,902
58,084
4,655
Gulf Coast
If every time somebody wanted to ask a question they set up a burner account this forum would be out of control which is why it is a terms of service violation to set up multiple accounts. Thread closed and landfilled.
 
Status
Not open for further replies.



Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom