Author Topic: What should I do  (Read 732 times)

BillyGoat1978

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What should I do
« on: October 15, 2018, 11:31:13 PM »
I work a potentially dangerous job, it can be a death trap at times. I have been their for 12 years and have 10 more years until I can retire. At retirement (50 years old), I would be eligible for a good pension approximately 2800 a month and access to a 401k.  I currently have $55,000 in the 401k, hopefully $200,000 by retirement. I don't mind the daily job I do because I am out of harms way. At times I am put into a job that could cause injury, death or make me liable to a lawsuit. I have not enjoyed the negative aspects of this job from day 1. I took this job on because of the good pay, pension, health insurance guaranteed at retirement and stability. This job will never go away.  Two things are holding me back from leaving, 1. Father in law retired from same company, 2. Retirement benefits. Father in law is a factor because he wants me to stay and if I don't my family will have to depend on him not pulling the plug on a situation that would be helpful. That situation is 55 acres of land with a dwelling that needs work and a small expansion into it for a lifetime home. No mortgage on potential home/land.  My wife has wanted to go 3 years ago. She doesn't care about being rich just wants to be happy, we have 2 children one with special needs. This job will never make us rich but will provide for us at retirement (pension). Currently we live pay to pay, if we move we would be pay to pay, probably pay to pay in retirement. We live relatively frugal now, small farm ( egg chickens, meat chickens and turkeys), can our own food, make our own laundry soap, etc..  Only have 1.5 acres now can't do much more now on the land. All of my income goes to monthly expenses hers goes to food, gas, basic needs. Just wanting some opinions on what we should do.

Linea_Norway

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Re: What should I do
« Reply #1 on: October 16, 2018, 01:21:33 AM »
Recently I heard a diver on the Norwegian TV. He told us about his job being irresponsible about the dangers. Critical mistakes were made very regularly. As a diver he had been in various life threatening situations. I was quitting his job, because his couldn't accept this dangerous situation anymore. I was tiring him mentally and he didn't want to risk dying young.

You should also consider whether your job is worth injury or a lawsuit. Maybe the high pay isn't worth it after all? Isn't there any way in which you can avoid being put in a dangerous situation?

I think that if you decide the pay is not worth the risk, that you need to explain your choice some time to your FIL. I presume he also doesn't want his daughter to become widowed. If your FIL is sitting on a large piece of land that you one day might inherit or might venture in, you must think about who else he might otherwise engage with. Maybe you are still the obvious choice for his venture? After you have actually left, he doesn't have more power over you by threatening to pull out.

And is this piece of land worth working another 10 years in such a dangerous job? Don't you enjoy your current life? You say that you work paycheck to paycheck. How can this be? You say that you live relatively frugal and make a lot of your own food. You you work a dangerous job for low pay? In that case, get out of it and find a safer job, preferably with higher pay.
« Last Edit: October 16, 2018, 02:25:56 AM by Linda_Norway »

joonifloofeefloo

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Re: What should I do
« Reply #2 on: October 16, 2018, 01:56:06 AM »
I would look for a third option.

Working in a dangerous situation (even if only some days) for another 10 years, and as you get more and more tired, no. And you don't love it, your wife wants to go, you have a family that loves and needs you, a child that needs extra care... You need to be (i) alive, (ii) well, and (iii) happy, resilient, in good mental shape.

I would not stay just because of dependency on FIL. It's never good to be that dependent on one person. What if one day he doesn't want to support your family? What if he has new needs come up, and he needs to sell the acreage to support those? What if a different situation comes up and the property is not available for any other reason (e.g. landslide, or SN child needs the family to relocate to a therapeutic center's area)? (eta: Staying on the acreage *until FIL pulls the plug* could be fine, but your overall plan should assume an end to that deal, not rely on it.)

I would set out your full situation as a case study (see the relevant sticky) and start brainstorming -with your wife and this forum- about a third path, one that sets you free from both dangerous work and dependency on a FIL.
« Last Edit: October 16, 2018, 01:59:03 AM by joonifloofeefloo »

tyler2016

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Re: What should I do
« Reply #3 on: October 16, 2018, 03:45:19 AM »
I agree with joonifloofeefloo. Posting a case study would be your best bet.

Is there any way you can take a less risky job in the same company?

Could your skills transfer to a similar but less risky job?

Could you work for yourself or do consulting?

I would pick an expense, no matter how small, and try to lower it. For instance, get quotes on insurance with different deductibles and limits from different companies.

If you have good credit you can make a little bit of money churning credit cards and bank accounts. I make at least 1000 dollars per year doing this for what is probably 2 to 3 hours of work. I might do 2 or 3 cards and 2 or 3 bank bonuses per year. It hasn't affected my credit by more than a few points.

Again, a full case study would be the most helpful.

Mrs.Piano

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Re: What should I do
« Reply #4 on: October 16, 2018, 05:28:41 AM »
Could you buy the land from FIL?

BillyGoat1978

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Re: What should I do
« Reply #5 on: October 16, 2018, 09:42:13 AM »
So I am new to blogs I have never posted on any site before. So I will give a few follow up remarks. My gross pay is good but lose 60-65% of pay to taxes, insurance, retirement (15%), etc..  I think it is good about 60k a year US, no college degree. At work I can stay away from potentially dangerous situations due to how long I have been at my employer. At times I am forced by contractual agreement to work overtime and that is when the potentially dangerous situation arises  Not because I am tired but because that particular job is dangerous (employer wont hire more people, paying overtime is cheaper by a business aspect).  This job is a law enforcement position. I am getting older and body is breaking down. 
The land has been passed down through 5 generations and my wife is already on the land deed. I honestly don't think my FIL would take the land/house away he just really wants me to get that retirement. The best thing about this location it is in the mountains middle of nowhere pretty much and a five minute walk away is a place my child with special needs could live when me and my wife pass. That is one reason we love it they can become familiar with the area get comfortable with the therapy place slowly overtime which would help their transition when we are dead.
How is a case study done?




joonifloofeefloo

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