Slowlane Decision to Make, Your Thoughts?

[c_morris]

First off, I was reluctant to post this because:

a) It is rooted in the Slowlane
b) I don’t want it to be yet another “What should I do?” thread
c) I know it is a decision no one can make for me.

I chose to post it because I'm looking for impartial feedback and I respect the opinions of this forum’s members.... well, most of you anyway

I have a decision to make. I will be applying for a new J O B within my company (I still haven’t decided if I will accept it if offered). Currently I work out of 2 offices: 3 days 2.5 hrs/day commute; 2 days 1 hr/day commute. The new job will require me to work out of Halifax, NS and Toronto, ON, which is a 2hr flight. I do not have to move, but I can if I choose.

Currently I am burnt out after the day’s work and family duties which leaves little time and energy to work on anything on the side. I do not know whether this will be the case with the new job BUT, 2 – 3 nights/week, I will not have family responsibilities outside of communication.

I have not put this through the WADM yet, but here is a list of pros and cons if I take the new job:

Pros:

My wife and I love Nova Scotia and would like to live there one day
Housing costs lower than Ontario (potentially mortgage free or at least ½ of current mortgage)
Pay will be equal or better that current
Can rack up frequent flyer points
Meet new people, make new connections
Hotel time can be used for side hustle
I do not like my current job
Gets me out of my comfort zone

Cons:

Winters suck worse than Ontario
Family and friends in Ontario
Kids do not want to move
Golf season is short
Some weekend work required
Away from the family 3-4 days/week
I don’t know if I will like my new job
Current job is relatively flexible; new job probably less flexible but don’t know for sure

Again, I know that no one can make this decision for me, but I am curious as to what others think. What am I overlooking? Is either situation more or less likely to get me on the path to the Fastlane?

 

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[jon.a]

Seems like you're going in the wrong direction.
Much more crap for not too much gain.
I'd look for an option 3.

 

[c_morris]

Seems like you're going in the wrong direction.
Much more crap for not too much gain.
I'd look for an option 3.

I agree, it's a bit of a sideways move, though if we decide to move, I could cut a huge amount of debt off my plate.

 

[G-Man]

Seems like you're going in the wrong direction.
Much more crap for not too much gain.
I'd look for an option 3.

Tend to agree. Might be something I'm missing, but it looks like you're considering upending your life for the potential of a cheaper mortgage and the belief that you'll be more productive in hotel rooms than at home....

You might be an infinitely more disciplined man than me, but when I traveled all the time for work I ended up either watching netflix in a hotel room or wandering around exploring a new city. Not that that's bad, but it certainly wasn't business building.

What's behind door #3?

If you still need a 9-5 (not judging. I do. It's part of the agreement with my wife in exchange for her not complaining that I'm putting our money into things that aren't a retirement fund) first thing I'd do is look for something with a shorter commute. Commute time is 100% loss. Not to mention the years of your life lost from the stress of sitting behind someone stopped at a green light because they're too busy texting to look up.

 

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[G-Man]

I agree, it's a bit of a sideways move, though if we decide to move, I could cut a huge amount of debt off my plate.

You didn't mention that in OP.

Would it be big enough of a difference that you could be 100% debt free except mortgage in 2-3 years?

 

[jon.a]

Can you do the current commute by train, bus or car pool, so you could get some me time?

First off, I was reluctant to post this because:

a) It is rooted in the Slowlane
b) I don’t want it to be yet another “What should I do?” thread
c) I know it is a decision no one can make for me.

I chose to post it because I'm looking for impartial feedback and I respect the opinions of this forum’s members.... well, most of you anyway

I have a decision to make. I will be applying for a new J O B within my company (I still haven’t decided if I will accept it if offered). Currently I work out of 2 offices: 3 days 2.5 hrs/day commute; 2 days 1 hr/day commute. The new job will require me to work out of Halifax, NS and Toronto, ON, which is a 2hr flight. I do not have to move, but I can if I choose.

Currently I am burnt out after the day’s work and family duties which leaves little time and energy to work on anything on the side. I do not know whether this will be the case with the new job BUT, 2 – 3 nights/week, I will not have family responsibilities outside of communication.

I have not put this through the WADM yet, but here is a list of pros and cons if I take the new job:

Pros:

My wife and I love Nova Scotia and would like to live there one day
Housing costs lower than Ontario (potentially mortgage free or at least ½ of current mortgage)
Pay will be equal or better that current
Can rack up frequent flyer points
Meet new people, make new connections
Hotel time can be used for side hustle
I do not like my current job
Gets me out of my comfort zone

Cons:

Winters suck worse than Ontario
Family and friends in Ontario
Kids do not want to move
Golf season is short
Some weekend work required
Away from the family 3-4 days/week
I don’t know if I will like my new job
Current job is relatively flexible; new job probably less flexible but don’t know for sure

Again, I know that no one can make this decision for me, but I am curious as to what others think. What am I overlooking? Is either situation more or less likely to get me on the path to the Fastlane?

 

[c_morris]

You didn't mention that in OP.

Would it be big enough of a difference that you could be 100% debt free except mortgage in 2-3 years?

It was in the pros list. I have enough equity built up in my current house to put down at least 75% down payment on a similar home and potentially 100%. I could likely be 100% debt free in 2 - 3 years.

 

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[G-Man]

It was in the pros list. I have enough equity built up in my current house to put down at least 75% down payment on a similar home and potentially 100%. I could likely be 100% debt free in 2 - 3 years

Clearly your fault I can't read.

I dunno, I would find that extremely tempting - get out of debt, then move to the next step, but my slowlane programming is strong. Sorry I'm zero help

 

[c_morris]

Can you do the current commute by train, bus or car pool, so you could get some me time?

I carpool 3 days a week, so for the 2 days I'm not driving, I try and grab the back seat so I can read or do research undisturbed.

 

[c_morris]

Sorry I'm zero help

Not true. Your below comment is valid. I've behaved in a similar fashion in the past when I worked in the road. It's not unrealistic to think it could happen again. All it takes is a couple of pints with dinner and my night is shot.

You might be an infinitely more disciplined man than me, but when I traveled all the time for work I ended up either watching netflix in a hotel room or wandering around exploring a new city. Not that that's bad, but it certainly wasn't business building.

 

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[MidwestLandlord]

Overnight work is very, very hard on a marriage.

Ask me how I know...

Hotels suck, eating well on the road is tough and expensive, and at least for me, the temptations to make treasonous choices is strong on the road (food, alcohol, women, laziness)

Think long and hard about this. Money is not everything.

 

[G-Man]

women

Forgot about that one, but, yeah, your self-restraint will be tested.

 

[G-Man]

Come to think of it, I actually have a tale of someone close to me who did this.

I have a friend that took a job in another state because the company couldn't find someone with his skillset in that area. It was about 3 hours away... far enough that he worked 4 days on, 3 off. He took the job because they basically doubled his effective pay, and he had a mortgage. Wife and kids decided to stay at home rather than move because after all, their family was there, the kids were in school, and this project to get the plant up and running was only supposed to take 10 months.

Well, the project took about 18 months, but at the end of it, living it shitbox hotel rooms and working long shifts, he had paid a huge chunk off the mortgage as well as gotten out of credit card debt.

You should see the house. It's beautiful, a new in ground swimming pool and in a nice neighborhood.

He sees it every couple weeks when his wife's new husband brings his kids out to the car for their weekend.

 

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[MidwestLandlord]

You should see the house. It's beautiful, a new in ground swimming pool and in a nice neighborhood.

He sees it every couple weeks when his wife's new husband brings his kids out to the car for their weekend.

I'm away from home right now actually.

This part of the story literally made me sick to my stomach.

 

[Millenial_Kid5K1]

Option 3: sell the house, live for free, quit your job, learn web design, make a living off that for a few months, learn copywriting, make a living off that for a few months, design a kick-butt site that fills a need, sell it, retire a penta-millionaire.

Sorry, I had to go there.

 

[G-Man]

Option 3: sell the house, live for free, quit your job, learn web design, make a living off that for a few months, learn copywriting, make a living off that for a few months, design a kick-butt site that fills a need, sell it, retire a penta-millionaire.

Sorry, I had to go there.

Step 1 of option 3 would have to be "go back in time to when you were 19 and had no family"

I'm away from home right now actually.

This part of the story literally made me sick to my stomach.

Sorry dude. Wasn't trying to be a debbie downer. It doesn't happen to everyone. He didn't help himself by going out hunting for middle age chain-restaurant bar strange.

 

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[c_morris]

Well, the project took about 18 months, but at the end of it, living it shitbox hotel rooms and working long shifts, he had paid a huge chunk off the mortgage as well as gotten out of credit card debt.

You should see the house. It's beautiful, a new in ground swimming pool and in a nice neighborhood.

He sees it every couple weeks when his wife's new husband brings his kids out to the car for their weekend.

But, this will NEVER happen to me...LOL.

Think long and hard about this. Money is not everything.

Thanks for the reminder. It can be very hard to look past this.

I have formally applied, mostly to get some more details, but I am leaning strongly on not accepting if offered. As I was reading through the responses it occurred to me that I don't actually need the job in order to satisfy the largest benefit: being mortgage free. I could just sell my house for a tidy profit and move. Without a mortgage, the pressure of maintaining a 6 figure salary is greatly diminished. Which leads me to:

Option #3: Build a side hustle (currently working on building a web-design business) that allows me to earn from anywhere and move on my own terms, not my company's!!!

 

[c_morris]

Option 3: sell the house, live for free, quit your job, learn web design, make a living off that for a few months, learn copywriting, make a living off that for a few months, design a kick-butt site that fills a need, sell it, retire a penta-millionaire.

Sorry, I had to go there.

WOW. You replied as I was typing the exact same reply.

 

[c_morris]

Option 3: sell the house, live for free, quit your job, learn web design, make a living off that for a few months, learn copywriting, make a living off that for a few months, design a kick-butt site that fills a need, sell it, retire a penta-millionaire.

Sorry, I had to go there.

And then write a book and start a forum!

 

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[Millenial_Kid5K1]

Step 1 of option 3 would have to be "go back in time to when you were 19 and had no family"

I wasn't trying to be completely flippant; the OP sounded like he is between a rock and a hard place. I feel like if I were at that point the advice I would need would be to step back and re-evaluate.

Yes I was playing devil's advocate, but if you dial back your expenses there are lots of ways to make enough money to support a family (that don't involve being away from them constantly.)

 

[Andy Black]

Hmmm... obviously take what me and others say with a pinch of salt.


# Congrats

Firstly, congrats on having a wife, kids, a job, and a home.


# Podcasts

Regardless of what you choose, you can listen to podcasts while you're commuting. Not so long ago I had to do 3 hrs a day 3-4 days a week. I binged on Gary V, shedloads of audible books, etc.

Nowadays, I do short journeys (school runs) and Russell Brunson's "Marketing In Your Car" podcast is short and excellent, especially if you start from the beginning.


# What's your why?

At the end of the day, isn't it about family and friends? YMMV, but it is for me.

I personally wouldn't uproot my family, especially for a j.o.b. ... which can change at someone else's whim.

Not everyone is the same though.


# Side hustle?

Do you have a side hustle?

Work out how much extra disposable income the other job gets you, and work out how to build some side hustle revenue that matches it over time?

Maybe that's too big a goal. Maybe think about making an extra $100/mth that's recurring (not necessarily "passive")? Get one $100/mth and you can get another, and another.


# Resourcefulness

It's not a factor of our resources, but how resourceful we are.

What resources do you already have that you can leverage? I've spoken to many forum members and one common pattern is they don't see what's under their nose.

I think this is the most important thing for you to think about.

Think of a truly resourceful entrepreneur you admire. What would they do in your current situation?

Be honest with yourself. Is there anything you spend time on that you can cut out and grab one or two hours a day? I don't mean exercise, sleep, or time with your family. I mean TV, nights out with buddies, and even time spent with friends who you're not really that close too.

If you didn't have an option to move, what would you do to escape the slowlane?

Can you start that now?

What can you do this week that you can invoice someone for?

 

[c_morris]

At the end of the day, isn't it about family and friends?

Yes, absolutely. It's my primary motivation behind all of my big decisions.

Be honest with yourself. Is there anything you spend time on that you can cut out and grab one or two hours a day? I don't mean exercise, sleep, or time with your family. I mean TV, nights out with buddies, and even time spent with friends who you're not really that close too.

If you didn't have an option to move, what would you do to escape the slowlane?

Can you start that now?

What can you do this week that you to invoice someone for?

Thanks for this. It's a reminder to stay focused on my priorities.

 

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[c_morris]

Thanks to you all for your replies. I really appreciate it. You've all helped uncover some of my blind spots. I will provide an update on this sometime next week if/when I have an interview.

 

[JWelch]

Strongly consider where you really want to be in the next 5-10 years. This is a big life change so if following through with the new job is going to be a step in the right direction then do it, if not figure out what the next step really needs to be and do that instead.

You could also try a WADM.

 

[u.vallone]

"I have enough equity built up in my current house to put down at least 75% down payment on a similar home and potentially 100%. I could likely be 100% debt free in 2 - 3 years"

Well ...
If you can do this you can buy a rental property with that money.
Rent it and let your rent pay for your mortage in your actual home.
When your mortage will be paid you'll have an asset (the new home) that works for you.

This strategy could have fiscal advantages too. Less taxes. Contact an expert for that.

Hear some episode of the podcast
Get Rich Education
In general is better to be
financially free vs debt free.

Inviato dal mio LG-K500n utilizzando Tapatalk

 

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[MJ DeMarco]

Well, the project took about 18 months, but at the end of it, living it shitbox hotel rooms and working long shifts, he had paid a huge chunk off the mortgage as well as gotten out of credit card debt.

You should see the house. It's beautiful, a new in ground swimming pool and in a nice neighborhood.

He sees it every couple weeks when his wife's new husband brings his kids out to the car for their weekend.

Ouch. Although one might argue the relationship wasn't strong enough to begin with.

Strongly consider where you really want to be in the next 5-10 years.

I think it is this simple. Which decision will get you closer to your 5 year vision?

 

[c_morris]

Update:

I had a pre-screen interview with the recruiter yesterday. I found out that the job requirements may be changing in terms of which office will be the home office and what the travel schedule will look like, but there were no details provided. The hiring manager is currently on vacation and I will be on vacation next week, so I won't likely find out anything more for a couple of weeks.

In addition, the company will be issuing a new policy on remote work agreements and flexible work hours in the very near future. I do not know the details nor do I know what it would mean for my current role, but I know with almost 100% certainty that the new job will not benefit from this. This alone could be a BIG win for me and a will be huge factor in my decision. Very strong lean to declining if offered.

 

[c_morris]

Final Update:

Just to bring this to a close, someone else got the job, so in the end, the decision was never in my hands. We'll see how this new flexible work policy pans out. Any reduction in commute time and time chained to my cubi-cell will be a huge bonus.

 

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[G-Man]

in the end, the decision was never in my hands.

Feel like that statement there might be the lesson to be learned vis-a-vis having a job... but we already knew that. That's why we're here.

Good luck, homie.

 

[jlwilliams]

Ok, so that's how that panned out.

You just spent time focussing on your goals and assessing your resources. What did you learn from that? Did you gain perspective? Did any of the ideas offered by the members here become actions?

If the mental exercise yields value, then you won regardless of the way the j o b ball bounces.