Work Dilemma - need advice

TWiNKfly

Hi ladies! I posted this on the 9 to 5 board, but I wanted to see your opinions as well since the Novembies are my girls!

http://community.thenest.com/cs/ks/forums/32197069/ShowThread.aspx#32197069

If you have any opinion, answer here - I don't know if I'll get flamed over there or not.  

Thanks. I value all of your opinions.

flip_flops

My gut reaction is that if consulting is something you really want to do, now is the time.  You don't have to worry about kids and all the costs that come with them, you're young so if it doesn't work out you'll still be able to find a another job, etc.

My dad owns his business and it's very consuming.  When he's on vacation, things don't get done.  He can't ever really relax, but that's part of his personality.  Just something to think about.

Agentmysterycat@hotmail.com

Well...DH is pretty much in the same postion you are in now. Only his full time job is also contract work, so he gets no paid time off and no benefits were ever offered to him.

He works for them M-F 8-5, then comes home and works on freelance stuff a few nights out of the week.

If I was in your shoes....I would keep doing what you are doing for as long as you can, it sounds like you are really being able to build up a good nest egg for a DP on a house.

I would maybe set a goal, like you need to have X amount of secured clients before you will consider taking the leap onto your own.

jweat013

I can see it both ways. . . On one hand, M has a great job now, and you know you have clients, so you can afford to make the leap now, and it might be the right time to do it. On the other hand, it would be great to be able to save up a bunch of money before you buy, and you might not get a chance to do that kind of saving again soon. 

If it's not too rough on your lifestyle, I would hang on to your current job until you have reached X in savings or X number of clients, like Agent suggested. It just depends on what your biggest priority is - throwing everything at your new business right now, or getting set to buy the house right now. Not that they have to be mutually exclusive, but it sounds like you'd be in a better position to save if you stay where you are, employment-wise.

GL, lady, and KUP!

JackandCassie

My feelings are between Flip's response and Jweat's response. Only you can know what's right for your situation, but my insinct would probably be to save a little more money before I left my 9 - 5 job. However, I undestand how you feel. I dream of being my own boss someday.

veruca5839

Ditto jweat and Agent.  I can see it both ways, but IMO I'd probably stick it out with your job for the time being...especially if saving up for a house is a big priority for you and DH right now.  I'm less of a risk taker when it comes to jobs though, so that's where I'm coming from.  I know you said you have a few clients now, but would just having them be enough for you?  Or would you need to expand your client-base from the get-go?  If you need to expand, that might concern me because I'd think it might be tough to find any in this economic climate.  But, I could be wrong.  I'm sure you've already made a pro/con list for each option, but you could do something where you reevaluate your priorities and goals in a few months and see where you stand on the job front.  GL! 

Rachel2315

My .02 cents is this:  I think you need to sit down with M and priortize what you guys want in the future BEFORE you quit your job.  When/Do you want kids?  If you work for yourself, you won't get maternity benefits at all.  Do you want a house?  Since right now seems like an ideal time to be working as much as you do, it might not be a horrible idea to tough it out and work 75+ hours a week and save money before you start your own consulting business. 

breannek.ot

veruca5839:

Ditto jweat and Agent.  I can see it both ways, but IMO I'd probably stick it out with your job for the time being...especially if saving up for a house is a big priority for you and DH right now.  I'm less of a risk taker when it comes to jobs though, so that's where I'm coming from.  I know you said you have a few clients now, but would just having them be enough for you?  Or would you need to expand your client-base from the get-go?  If you need to expand, that might concern me because I'd think it might be tough to find any in this economic climate.  But, I could be wrong.  I'm sure you've already made a pro/con list for each option, but you could do something where you reevaluate your priorities and goals in a few months and see where you stand on the job front.  GL! 

This. 

ariajean

I've read through all the posts, and I'm the Weirdo Jeon (I'm going to start using this word in random places).  Do it now. 

There will never be a right time.  As soon as you have almost enough money saved, a big expense will pop up out of the blue.  As soon as you make the change, the really exciting stuff will start happening for you. 

And as far as the vacation part goes, make sure that you charge enough money to cover vacation.  If you make X per day, increase your rate so that you can afford 2-4 days per month off.  You're worth it.