Wednesday, November 5, 2008

Stable Job versus "Unstable" Job

Should one leave a stable and well paying job for an "unstable" job (a job that one is interested in)?

What if by staying on for another 20 years in the stable paying job (that one does not really like), one is able to earn more than $2 million? This would be more than enough to pay off all debts (housing loans and car loan) and even have some cash to spare for investment. After achieving this financial freedom, one can then move on to pursue one's interests that might not pay so well (the "unstable" job).

But what is the opportunity cost? What if by opting for the "unstable" job (i.e. pursuing one's interest, one is able to earn even much more? Should one take such a great risk? We only live once..

These are questions that I have been pondering over and over again in the past few weeks.

How important is financial stability to me?
Should I stick to the stable job and guarantee myself a comfortable life or should I opt for a job that interests me but that might not pay me so well?
Would I regret it if I stay on in my current job and give up 20 years of my life doing something that I do not like?

If I stay on in my current job, I am certain that by the age of 50, I would be able to pay off all my debts and even have quite a sizeable sum of money (region of 6 figure). That is given that I do not overspend.

However, what if I leave my job and am able to earn even much more than my current job?

2 comments:

  1. Hi!

    I read with great interest to your blog. V impressive blog!

    I immediately connect with your comments cos 3 yrs ago, I left a 'stable' career after 11 years.

    I would like to invite you to explore a business opportunity as a Consultant with an established Asset Management Firm.

    Cheers!

    ReplyDelete
  2. I would be interested to find out more if the position is still open =)

    ReplyDelete

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