Hi All,I was recently given the opportunity to become a contractor at a new job. I would be paid $9,000/mo and clear almost $4,000 after expenses, taxes, etc.My current job pays me a lot less. $4300/mo of which I keep about $2100 after expenses.The catch is I'd be working away 3 weeks out of 4 in a very remote corner of the world. 10+ hour days. The nearest civilization is about a 4hr drive away.There's no wife, kids or other relationship ties to keep me here. Simply the 3 weeks of nothing else to do.Thoughts?
I would be paid $9,000/mo and clear almost $4,000 after expenses, taxes, etc.My current job pays me a lot less. $4300/mo of which I keep about $2100 after expenses.Would you save the extra money?
It sounds to me like the question to answer is "What would I do during down time in that area?"The money makes sense, from what you've told us, but personally I weigh my happiness and satisfaction quite heavily in that equation. If you ask me to do something that is not intrinsically enjoyable, I will charge you an awful lot for it - which means the deal won't go through.I would try to find some project you can take on during your time in the bush. Personally, I would love the chance to catch up on reading, get back to my painting, or start coding a personal project.I think if you found something you could get into during your down time, you might enjoy it. If not, in your shoes, I would be pretty hesitant.Maybe see if the employer can help. Like "I'll do it, but that's a long time in a very boring area. The numbers work great, but I'm concerned that over time it will be really taxing for me to be so cut off, and I will not be able to do the fantastic work you've come to expect and that I want to do for you. I need an iPad and a Hulu account, which I'll be happy to return when I'm no longer in that remote area" or something - whatever would take the sting out of it for you.
I agree completely with GameMaker. Maintaining my sanity in a remote area is essentail but even more important is safety. You didn't give any clue as to whether your life would be in danger. Not just from outside forces, but health concerns.I like putting away as much money as others that use the Fool, but I want to live long enough to enjoy it.
It's simply a decision as to whether it's worth the trade-off. Only you can answer this question. I know plenty of people who do what you describe (supers who spend weeks at a time at a job site, PA's who fly to remote oil towns in Alaska's far north for 6 weeks on and 3 off, etc), and for them they have integrated this into their lives and their families' lives just fine.Me, there is no amount of money you could pay me to do this, as I am a real homebody. I travel a lot - sometimes every week, sometimes a less than 24-hour turnaround trip from CA to the east coast and back - but I have at least part of every week at home with my cat, my garden, and my kitchen. Others would look at my travel schedule and say "no way," but it works OK for me.Only you know what works and doesn't for you.
I need an iPad and a Hulu account, which I'll be happy to return when I'm no longer in that remote area" or something - whatever would take the sting out of it for you.This is not much money, and I would expect the individual to get it themselves, especially on the salary that is described. I do not think most employers would agree to this, unless you are a "star," employee.
Thanks for the comments so far. Just to add a few points...1. My life is not in danger in any way unless a bear decides to eat me.2. Assuming I can save $4k/mo, I'd put some to flesh in the e-fund and a large chunk on the mortgage.My current e-fund is at 6 months and I'd bump it to 1yr. The remaining money would go to the mortgage with a small amount left to play with. Trips and such.I could probably pay the mortgage off in about 4 years.
The remaining money would go to the mortgage with a small amount left to play with....I could probably pay the mortgage off in about 4 years.As has been pointed out here before, making double or triple mortgage payments does NOT relieve you of the obligation to make the next month's payment. If something happened you could be evicted with only a few months payments left. Methinks it would be better to put those extra payments into your E-fund where it's available for whatever you decide to do with it later.
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