Finance and Economics > The Money Board

Maxumizing income vs. job security

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Whale:
Just hoping to get a few thoughts from you... 

My job is going away and I have a couple options (Thank GOD!).

Job A being a very stable job that won't be greatly affected by average economic changes.  It has a great retirement plan associated with it and good benefits.

The other, Job B, would be pretty strongly effected due to economic changes. The benefits are okay but not great.

Of course the rub is that the Job B pays over 25% more than Job A and Job A involves more 'on-call' time which would make it difficult, not impossible, to get an additional job.

Do I go with the secure and stable but less money Job A or make hay while the sun shines and go with Job B.

Thoughts?

TIA,

Whale


Stein:
I would go for Job A if I could swing it.  Benefits are more valuable every year and I would rather do with less than need to make more. 

The key question is whether you could live comfortably on Job A salary?

Whale:

--- Quote from: Stein on October 23, 2008, 11:43:16 AM ---The key question is whether you could live comfortably on Job A salary?

--- End quote ---

Define comfortably!  ;)

We should be able to get by okay.  We are currently in the process of adjusting our lifestyle anyway.  We are, however, still on Baby Step 2 and sure could use the extra money to get us to a safe place.

One of the benefits of Job A is a company truck and fuel.  That seems to be a big benefit right now!

Whale

ElyasWolff:
Play it safe. I worked for years in the automotive industry, and I was laid off.
I am working on starting a new career now...

DeltaEchoVictor:

--- Quote from: Whale on October 23, 2008, 03:33:19 PM ---
--- Quote from: Stein on October 23, 2008, 11:43:16 AM ---The key question is whether you could live comfortably on Job A salary?

--- End quote ---

Define comfortably!  ;)

We should be able to get by okay.  We are currently in the process of adjusting our lifestyle anyway.  We are, however, still on Baby Step 2 and sure could use the extra money to get us to a safe place.

One of the benefits of Job A is a company truck and fuel.  That seems to be a big benefit right now!

Whale



--- End quote ---

Comfortably is relative.  Obviously we all have our preferences, but there is something to be said for beneifts & longterm stability.  The idea is to prep a little at a time so you don't have to go broke getting to a "comfortable" level of preparedness.  Do not disrupt your life for the sake of preparedness, live your life in a prepared state as much as you can.

Something my wife keeps saying to me after she listens to the podcasts is "I feel like I need to get all of this done right now".  She doesn't, & neither do you.  Just do a little extra every week & one day you'll look around & you'll realize you're in good shape.

Define your priorities & then make the decision, but do it after you've decided what's the most important to you.

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