Rate my risk tolerance

[Blitzkrieg]

Here's one for the security conscious ones in the forum...

Mrs. Blitz is going to drop heir number 2 end of October and I've quit my full time job and taken up a casual position (refrigeration/Air conditioning tradesman) for heaps more money and heaps less security

Here's one we prepared earlier

http://www.somersoft.com/forums/photopost/showphoto.php?photo=375&password=&sort=1&cat=525&page=1

 

[paul_s]

Originally posted by Blitzkrieg
Here's one for the security conscious ones in the forum...

Mrs. Blitz is going to drop heir number 2 end of October and I've quit my full time job and taken up a casual position (refrigeration/Air conditioning tradesman) for heaps more money and heaps less security

Here's one we prepared earlier

http://www.somersoft.com/forums/photopost/showphoto.php?photo=375&password=&sort=1&cat=525&page=1

should we rate the risk tolerance on a scale of 1-10?

I would rate the risk tolerance at 7. To score 10 your wife would have to be having triplets and you would be be quitting your job to try and become a popstar

 

[D.T.]

Hi Blitzy,

If you dont mind me asking, How long will your wife stay out of work? And do you get set hours?

If you do get set hours, you should still be able to get IP loans with the help of someone like Rolf or Simon. Perhaps some kind of insurance will be useful for you.

Personally, I think having kids is too risky

-Cheers

Dave

 

[Blitzkrieg]

Dave,

at the moment I have the option of 9.5 hour days 6 days a week - worked 6 hours saturday (today) though, because of inclement weather. They have enough work for me until February next year, and with the extra hours per week and higher rate, I have more than doubled my weekly income.

Mrs Blitz may not have to go back to work depending on what happens with this job, but maybe early to middle next year otherwise.

Don't know about loans, I was speaking to Simon briefly about the possibility of getting a loan if I went casual and he indicated that it wouldn't cause too many problems if I stay in same trade, I think I'll bide my time though. I wasn't smart enough to be able to offset my extra income on a property (line of credit) so I'll probably just save instead and buy a new PPOR nearer to work if all goes well next year and rent out current one. Lots of options at the moment.

Also, if they get more contracts I get more work, also I've been told my bosses are very good at looking after people who look after them, so if things go quiet and they like me, they have ways of keeping me employed, but that will be maintenance jobs on mining camps on my air conditioners away from Mrs. Blitz and the two heirs ...... we'll see!