Better for REI - More Money or More Time
Hi Guys, ( potential #askBP )
I have found myself at a career/investing crossroads of sort.
Quick story - 27 years old (single, no kids) working at manufacturing company full time. Small company 75-80 employees and although I can just about make my own schedule here now --- I have reached a cap in potential growth.
The current job pays OK for my age but I am (like everyone) looking for more. But to get more I know that will take more of me. Moving to another maybe larger company will require more time and effort. This I do not have a problem with but I am nervous how it could effect my 'hobby' of investing in real estate.
So I'll ask the question. In this situation would you rather have more money or more time?
Just a few quick Pros and cons I see for each in terms of REI;
More Money: Can save up for down payments/ renovations quicker and more frequently.
More Time: Easier to manage current investments / more time to search MLS and the streets for new potential deals...
Any input / opinions / stories would be greatly appreciated!
Thanks guys,
Jim
Most Popular Reply
Hey @Jim Sestito - I've been in a similar situation for several years now and what I've focused on in my 9-5 world is flexibility. It's always nice to grow and make more money, but at the end of the day a huge paycheck is only worth the effort if you can spend it. I know plenty of people that kill themselves working 60-80 hour weeks regularly and they've got a bit more money in the bank but can't even take vacation days for most of the year.
I would say don't give up the flexibility of your current job unless you're sure you can match it somewhere else with a nice pay bump to boot.