Author Topic: Would you work abroad if it got you to FIRE earlier?  (Read 5304 times)

fuzzed

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Would you work abroad if it got you to FIRE earlier?
« on: August 22, 2014, 06:33:59 PM »
Or perhaps a different question, how much money would it take for you to work abroad from your family ?

Yes, me again with another work related question, the good news, I am getting closer to sorting it out.  :)

The other day I had a headhunter approach me about my openess to doing a long term contract in Qatar.  The contract was 3 years, with a likely hood of extending it.   The rate was around 135k per year, 6 weeks holidays, one round trip flight per year and included food and accommodation.   I am married, no kids, mid late 40's.  My wife has a solid career and is very independent, so I would end up going alone.   

Right now the last day of my working for a living days is Feb 2, 2022 (long story). So I am within 7 years, 6 months.
In theory, a job like this would cut that date in half or even less. 

The job is legit, I work in IT, and I know of people who have done things like this, mind you they are much younger than I.  I am not likely to pursue this any further, as the how much money would it take, is below that figure, probably more like 175-200 for me.

 So would you do something like this?  Or how much money would it take for you to do this?  Is this whoring myself??

Grid

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #1 on: August 22, 2014, 08:42:53 PM »
I am not the best person to answer your question (single and 25), but if I were in your shoes, I don't think I would consider any amount of money to work for 3 years away from what was my life/wife - certainly not at 135k/year.  Work, yes, is selling your life for money, but your quality of life is very important on the road to FI as well.


solon

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #2 on: August 22, 2014, 08:48:49 PM »
I would want my wife with me. If we can't figure out a way for her to be there too, I'm not going.

Suit

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #3 on: August 22, 2014, 09:35:14 PM »
You say that your wife is very independent, what about you? I know some couples where each person is very independent and they wouldn't mind a scenario like this. It really just depends on both of you and your relationship.

fufonzo

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #4 on: August 22, 2014, 09:38:49 PM »
Or perhaps a different question, how much money would it take for you to work abroad from your family ?

Yes, me again with another work related question, the good news, I am getting closer to sorting it out.  :)

The other day I had a headhunter approach me about my openess to doing a long term contract in Qatar.  The contract was 3 years, with a likely hood of extending it.   The rate was around 135k per year, 6 weeks holidays, one round trip flight per year and included food and accommodation.   I am married, no kids, mid late 40's.  My wife has a solid career and is very independent, so I would end up going alone.   

Right now the last day of my working for a living days is Feb 2, 2022 (long story). So I am within 7 years, 6 months.
In theory, a job like this would cut that date in half or even less. 

The job is legit, I work in IT, and I know of people who have done things like this, mind you they are much younger than I.  I am not likely to pursue this any further, as the how much money would it take, is below that figure, probably more like 175-200 for me.

 So would you do something like this?  Or how much money would it take for you to do this?  Is this whoring myself??

For me, not a chance. You only live once. To basically sell 3 years of my life for a few hundred thousand dollars would not be close to being worth it for me.

How much money would it take for me to do it? I don't even know if I'd do it for a million.  Seriously, I make a decent wage ($60k) doing work I really enjoy, and I work from home which gives me a lot of time to spend with my wife, my newborn daughter, and our dogs. To me that's more important than anything else.   

As others have mentioned, this is a very personal situation. Is the challenge exciting to you? Is this something you've wanted to do? Or are you simply doing it for the money?

Cottonswab

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #5 on: August 23, 2014, 06:20:39 AM »
If you like your current arrangement,  I wouldn't do it or I would ask the headhunter for a package that would entice your family to come along. 

I am currently doing something similar, as a young/single person.  My observation of others has been that married, unaccompanied status is generally not a healthy arrangement for those that were happily married.


shadowmoss

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #6 on: August 23, 2014, 06:55:04 AM »
I worked in Honduras for 2.5 years and would still be there if I could.  I made good money, not as good as you're quoting.  I enjoyed it.  I'm a single female, and as 56 when I went down there.  I'm also in IT.

chesebert

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #7 on: August 23, 2014, 08:46:49 AM »
Been doing that for over 4 years now. Same compensation but I get free housing (very close to work so no car is required), free private school education for my kid, tax equalization, free tax preparation (very important) and flight home once a year for 4 weeks. I am significantly closer to FIRE than my peers as a result (probably among other reasons attributable to this website :).

I wouldn't go at it alone, however.

Good luck!

iamadummy

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #8 on: August 23, 2014, 08:57:58 AM »
Wouldn't do it if married. That's a disaster waiting to happen then.

fuzzed

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #9 on: August 23, 2014, 12:27:15 PM »
Thank you all for the feedback so far. 

Financially, it would not make sense for my wife to come.  She makes about 75k working a couple days a week, and enjoys it very much.  I earn  around 100k, so if we both went we would actually be losing money from where we are now financially.   As I mentioned the 135 with "no expenses" is not enough to make it worth while for us.   

I realize there is more than to life than money, but at the right price i could be fire by 50, with more than enough leaving me a good chunk of time to make up for lost time.  I look at it as a interesting adventure, and could lead to something more exciting down the line.

I do agree it could be a potential disaster waiting to happen marriage wise.  Our life is different than most couples though, my wife takes several two week vacations a year on her own, and i go out west skiing on my own for weeks at a time as well.  But that is a big difference than living apart, I do realize.

Chesebert and Cottonswab, if you don't mind me asking, what part of the world are you working from and what field? 

Like I mentioned, at that rate, it is not worth it to me to do it, so will not pursue it any further, it just seemed like an interesting situation to ponder...

dividendman

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #10 on: August 24, 2014, 12:43:27 AM »

For me, not a chance. You only live once. To basically sell 3 years of my life for a few hundred thousand dollars would not be close to being worth it for me.

How much money would it take for me to do it? I don't even know if I'd do it for a million.  Seriously, I make a decent wage ($60k) doing work I really enjoy, and I work from home which gives me a lot of time to spend with my wife, my newborn daughter, and our dogs. To me that's more important than anything else.   

As others have mentioned, this is a very personal situation. Is the challenge exciting to you? Is this something you've wanted to do? Or are you simply doing it for the money?

Sigh, I did pretty much this (selling 3 years of life), but went to cali instead of Qatar.... but only for the money. I'm banking a lot more but life sucks. I'm a single guy though... so it's a bit different.

Dicey

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #11 on: August 24, 2014, 01:15:39 AM »
Financially, it would not make sense for my wife to come.  She makes about 75k working a couple days a week, and enjoys it very much.  I earn  around 100k, so if we both went we would actually be losing money from where we are now financially.   As I mentioned the 135 with "no expenses" is not enough to make it worth while for us.   

Uh, how quickly would a divorce eat up all your "profits"? You guys make enough together to achieve FI fairly quickly. Instead of leaving the country, focus on growing your wealth together. Living really frugally for the next few years will get you there faster and with a better chance of crossing the finish line together.

orpheus

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #12 on: August 24, 2014, 01:42:00 AM »
I did it!
My girlfriend and I left Canada in 2004 with 25k to go backpacking in London with the intention of getting good jobs in hotels. (We were 25 and 23)
Stayed a year before taking a job in the Caribbean which we also held for a year.
Then off to Australia back to were we meet with 70k.
Got our first job as a live in manager couple for a five star resort with our only bill being 50% off alcohol.
So over the next 5 years we saved every thing and left with $250kAU.
Moved to NZ were my now wife was from and tried to settle but after a year we were offered a job in Fiji which we held for 18 months and again no bills what so ever.
After 18 months we moved back to new Zealand and have been here a year.
Starting in 2010 we bought our first home in NZ and then bought another in 6 months while our serviceability was awesome due to our wages and living situations.
Bought another in 2012.
In 2013 once we moved back we started 2 businesses which are trading very well!!
Total assets of 1950000 not including the businesses.

So would I do it? yes but only if my partner had the same opportunity and goals in life which is early FI.
Our plan is to retire in 7 years or so and 46ish, sooner if possible.
When I say RE ill keep the businesses, cut someone in and just act as an adviser.
We could most likely FIRE now but it would be on a modest 50K per year and we would like at least 100k

BUT we missed weddings, births, drifted away from friends so there is a real down side!

O


pka222

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #13 on: August 24, 2014, 01:51:08 AM »
I'm doing it as well- thought my family is along with me. 8 years and counting- a 5-6 more I'd say.
 I'd say go for it- if you are interested and your wife is as independent as you say, then it seems to be a great opportunity.  I'd say I'm a few years closer to FI than my university cohort and I lead a ...more interesting work life for sure.

expatartist

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #14 on: August 24, 2014, 02:14:48 AM »
DH and I met and have lived 'abroad' for over a decade. We love it. Most of the time we've lived together, but have spent time apart: once for 1.5 years early on, and possibly next year. He's thinking to take a job in the UK - to move home to be closer to his mom as her health is declining. I won't break my contract to leave my amazing job or life here, and he understands. We don't have kids but it will be hard to live apart, particularly as living in the UK is anathema to our FI goals.

res

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #15 on: August 24, 2014, 04:57:06 AM »
We are doing the expat thing right now, I would not consider it if it involved the level of time apart your talking about.
We are earning as much with only one working as we were with both working at home. And we get free housing.
We are only doing it to make having a family easier on our time line to FI

lhamo

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Re: Would you work abroad if it got you to FIRE earlier?
« Reply #16 on: August 24, 2014, 06:20:12 AM »
I would not choose to live apart for long periods unless absolutely necessary.  There is a small chance that the kids and I may live apart from DH for a bit in the next 12-24 months, but I hope that will be short-lived and only if absolutely necessary. 

Since your partner has a part-time schedule, is there any chance her work could be done remotely?  That might make a move abroad a win win situation for you both.