Hello all,
I am at crossroads.
I am 37, Married, Self Employed, 1 child. No debt.
I get a steady 1099 every year averaging about 43k a year (not healthcare related). After all business expenses, my income is 28k-30k a year. Do some volunteer work at the hospital in spare time.
A few years ago I started going part time to take prerequisites for Nursing (intending to get an Bachelors). All prerequisite science classes are good for 5 years.
The initial plan was to apply for Spring 2014.
I feel I maybe making a mistake though.
Pros:
Always wanted to do it
retirement/health insurance benefits (currently have health insurance through my husband)
Good pay
Cons:
The entire program will cost about 25k plus textbooks.
Car expenses: Commute to school about 55 min plus commute to whatever hospital assigned for clinical
Quality of life for next few years will diminish; anticipate stress as result of studying and keeping full time job ass well as child care expenses (kid is 7).
Considerations:
I am not expecting making significantly more in the next years being self employed.
New salary will push us as married couple into the 25% bracket (anticipated start salary about 46k in my area, with experience can reach 50-60k in a few years). Currently we are in the 15%th.
I'll lose the "business expenses" such as office, mileage, restaurants etc.
Side note
Husband will retire in 15 years with a nice pension + SS + 401k
Is it worth it? Should I do it?
