OK, so here is the situation in a nutshell. I am in my early 30s and my FI and I will be married in TWO MONTHS
I am working in an industry I love for a well respected company. I''ve been w/ them for 4 years and the position I have, I like, and see it as a stepping stone to what I really want to do. Our plan was to have me work with this company until we have a baby...maybe, if all goes according to plan, the baby would arrive in about 2 years. This job is relatively stable (as much as it can be in today''s world). The pay is decent and the benefits (ie 401K, medical) are really good.
Here is the kink, my dream job came along! Its still in the same general industry, but its the kind of job I''ve been wanting for years. I would be doing what I want to do, gaining contacts and new experience and knowledge so that one day, I can possibly start by own business. The trick is that the job is a 1099 contract employee job. I would get a base salary (about 10-15% less than what I currently get). But the bonus and incentive plan is lucrative, but its obviously not guaranteed. Since its a 1099, there are no benefits...no 401K match, no insurance. My FI does not have a group plan at work, they get an allowance, so we''d have to get a plan on our own. Also, I''ve have to allocate my funds to pay my own taxes. This position may not be as stable since its a contract job, but its what I really want to do and it could lead to many great things down the road.
My FI is not sold on the 1099 new job. He kind of thinks I should hold on to what I have for the next tow years or until we have a baby. I am not sure what to do considering the state of the economy, but then also looking at my dreams and aspirations. Plus, all the new things I can learn and new contacts I can gain. Not to mention, this new job may be one that will be easier to do as a work from home mom.
I need some objective opinions...HELP!!
I am working in an industry I love for a well respected company. I''ve been w/ them for 4 years and the position I have, I like, and see it as a stepping stone to what I really want to do. Our plan was to have me work with this company until we have a baby...maybe, if all goes according to plan, the baby would arrive in about 2 years. This job is relatively stable (as much as it can be in today''s world). The pay is decent and the benefits (ie 401K, medical) are really good.
Here is the kink, my dream job came along! Its still in the same general industry, but its the kind of job I''ve been wanting for years. I would be doing what I want to do, gaining contacts and new experience and knowledge so that one day, I can possibly start by own business. The trick is that the job is a 1099 contract employee job. I would get a base salary (about 10-15% less than what I currently get). But the bonus and incentive plan is lucrative, but its obviously not guaranteed. Since its a 1099, there are no benefits...no 401K match, no insurance. My FI does not have a group plan at work, they get an allowance, so we''d have to get a plan on our own. Also, I''ve have to allocate my funds to pay my own taxes. This position may not be as stable since its a contract job, but its what I really want to do and it could lead to many great things down the road.
My FI is not sold on the 1099 new job. He kind of thinks I should hold on to what I have for the next tow years or until we have a baby. I am not sure what to do considering the state of the economy, but then also looking at my dreams and aspirations. Plus, all the new things I can learn and new contacts I can gain. Not to mention, this new job may be one that will be easier to do as a work from home mom.
I need some objective opinions...HELP!!