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Household Finances

Quitting my day job - how much am I worth?

Swentastic Swenson

12 years ago

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This post was edited by Swentastic on Sun, Oct 12, 14 at 9:54

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Comments (7)

sushipup1
12 years ago
No answer for you, but if you are a contract employee for the new company, you also will pay the extra FICA plus quarterly income tax payments.

The last thing you want to do is price yourself out of an opportunity. Does the new employer know how much you are making right now?
greg_2010
12 years ago
Why would your current salary at your current job have anything to do with what you'd charge for this other job that is totally unrelated?

Has the guy who wants to hire you given you any idea what he'd be willing to pay?
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Kay, how are you? I haven't been around for a while, I had to take a break and get myself together. To everyone I want to tell you that I am so sorry for your loss and sadness, it is the worst pain anyone can have BUT it does get better, I promise. My heart and soul mate died 14 months ago and I wanted to die with him, I was in so much pain and so scared of what was going to happen to me without him; life must go on. I was told that it doesn't get better but it gets different and they were right. I still weep and some days are bad but I have more good days as time goes on. Life won't seem so alien after a while, I just felt like I didn't belong here any more, not in my home, my job or this world but I did finally settle with my feet back on the ground. It's not easy but you have to push youself to live and it eventually gets easier. Please take care of yourselves, get help if you need it and work hard at being strong, we will never forget and we will always love them and happier days are ahead. God Bless all, Mav.
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Just found out how much my opinion is worth...
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Comments (9)
Freezetag~ I feel your pain! I had almost the same exact thing happen to me. My DH likes "big boy toys" and found a Mini Rod that he just had to have. This thing cost $1000! He has done this w/ several things, found something, had to have it, got it, then in a month it was boring & he wanted something else. So, when he brought it up, I said that I didn't think it was a good idea b/c we had just bought Christmas presents, his work was slow & money was just tight in general. He continued to tell me how cool it was & that he really wanted it, etc. I kept saying (very calmly & nicely, mind you) that he really didn't need it & that it cost a lot of money that we really couldn't afford, etc. Well, he proceeded to get dressed (we were talking over coffee) and walk out the door to go purchase it. As he was leaving, I said again that I did not want him to buy this thing (I wasn't so nice this time) and his reply was, "I don't care." The door shut & he returned w/ this $1000 piece of junk. I didn't get mad b/c he didn't do what I wanted. I got mad b/c he did the wrong thing. Plus, he did it the day before we got married... Lovely start to a marriage there! Plus, there have been very few times that I have said, "No, don't buy -----", I usually don't care b/c we've usually got the extra $. But, when it came time for him to stand up and be a responsible adult, he couldn't do it. We had a very big fight over this & I explained to him why this was so childish, irresponsible, disrespectful, etc... and now I'm over it. But guess what? The toy is old now, he hasn't looked @ it, touched it, or even mentioned it for about 3 weeks now. It still gets to me every time I see it or think about it, but I know it's in the past & I'm trying not to dwell on it... Your story just sounded so much like mine, I'm glad I'm not the only one... I suppose misery loves company... LOL.
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I wish she'd quit waking up at 4 am!!!!
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Comments (4)
Between 3 and 6 months you should begin to notice little (at first) tiny improvements. It's really hard to work with a 3 month old because they are still on survival autopilot and will do what they need to do, as driven by their brains and development. They don't yet communicate 'normally' in a 2-way sense so it's really hard to work with them. If there is a part of the pattern that leaves her screaming when you can reasonably know she's not 'too' anything and she is safe, then you can try soothing her without touch (she may still need your touch though, so use your best judgement and experiment). You can probably soothe her with your voice, singing, humming, and things like that. The 'trick' is to get her attention with that soothing thing that reinforces for her that you are present/near _before_ she is worked up to the point of panic or screaming (at that point, touch will probably soothe her most effectively and quickly). Use the vocal soothing as if by reflex, and it might help buy you some time and help her to cope while she's all freaked out because of change or the pacifier gone or whatever it is she thinks/feels. 2 hours later for bedtime maybe? (you could try adjusting times bit-wise by about 15-30 minutes at a time and staying at each step for 5-7 days to see if there is any change). when you need a pep talk, look at her at that 4am waking; smiling, it's quiet out and there's just you for her and life is probably very good for her at those times and when she is shattered by imposed unanticipated change (the noticed absence of the pacifier), she can trust that you can make things right and good again P.S. Is there a baby-safe way you can secure the pacifier (or a pacifier) to her sleeping clothes, or bed? It might be possible (don't count on instant results) to kind of teach her how she can find her own pacifier. (She might have initial trouble finding her mouth with it, or with letting go at the right time though... by 6 months odds will improve that she can manage this task on her own).
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Comments (35)
Your numbers are unrealistic. $100 per week for groceries? Does that include brown bag lunches at work? I don't see anything budgeted for lunches out or any entertainment/ dinners. How about health insurance premiums? Co-payments when either of you has to go to the doctor? Dental? How about basic supplies for your home---vacuum bags, stamps, paper, pens, printer paper, computer software and upgrades, a new laptop every several years for one of you? Gifts--- for each other for Christmas, birthdays, Valentine's Day, etc., for your parents anniversaries/birthdays/Christmas, occasions with friends, etc. You and your fiancée are in that stage of life during which all your friends are getting married or having babies. When your wife is asked to be a bridesmaid there is a lot of expense involved, often including a destination bachelorette party. Wedding gifts and showever, baby showers----gift opportunities (and costs) abound. Garbage pickup? Purchase of a lawn mower? Do you own a rake? If you end up commuting on toll roads, there's another possible future expense. Clothing? Just planning to wear what you already have forever? The first few years of home ownership are a steep learning curve. You will need tools for inside and out, and after buying will likely be spending your weekends at Home Depot and Lowe's, trying to fix/update/beautify your house and garden. Don't think you won't---it's human nature to want to improve your surroundings. Savings--- the dollars you put aside in the early years of your working life will multiply much more than those saved or invested when you have more money because of the magic factor of time. Don't forgo a savings/investing plan for a house! I think you are on shaky ground with a $1400 mortgage per month (including taxes and insurance) and would never advise any of my adult kids to do what you are doing.
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Swentastic Swenson
Original Author
12 years ago
duplicate post

This post was edited by Swentastic on Sun, Oct 12, 14 at 9:56
eaga
12 years ago
Your current salary in an unrelated field should have no bearing on what you would charge, IMO. The only relevance it has is in helping you decide whether quitting your day job for the project manager job makes sense for you financially. IOW, you can decide that switching careers will work for you only if you can make X% of your current salary.

There are websites such as salary.com that show pay ranges for construction project management, which you can then adjust for you own levels of education and experience, the requirements of the new job, and the fact that you'll be paid as a consultant and not an employee. Also, if you know others in the real estate rehab business, you might be able to get info from them. If you think about it, it's not that different from evaluating bids and estimates from subcontractors. You want to get a feel for the local going rate for that type of work.

It sounds very exciting - I hope it works out well for you!
Elmer J Fudd
12 years ago
"I would be working for this guy on a 1099 basis through an LLC"

The LLC is on which side - his or yours?

What will you do when the real estate market slows down (as it always does). Right now you have some diversification of your income sources, when you quit your job it'll all be residential real estate-related.

Working for a friend is rarely a good idea. What do you do if there's a disagreement, which do you keep - the job and not the friendship, or the friendship and not the job?

What if you find his business practices or things he asks you to do make you uncomfortable (that's endemic in this business)? Drop both the job and the friendship, or drop your standards?
Swentastic Swenson
Original Author
12 years ago
duplicate post

This post was edited by Swentastic on Sun, Oct 12, 14 at 9:55
joyfulguy
12 years ago
Erasers can sometimes be useful instruments, no?

o j

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