Job/Money advise

[coldgas]

I had an intriguing possible job opportunity come up the other day and am weighing my options and considering taking it. I am 43 and have been at my current job for 5 years and make around 70k per year. I have a little over 60k in debt with house and cars being the only debt. My retirement was wiped out in 2009 when I was laid off and I am just getting back on track putting in around $800/month and put another $500/month in savings but it isn't growing fast enough for my likes considering there are things I would like to accomplish like build a house before I retire.
There is job opportunity that came up making a little over 200k/ year. I figure if it would hold out for 2 or 3 years I could more than catch up my retirement, pay off my house, sell it and build the house we want and then go back to normal job.
Pros
Good money!
Get back ahead financially
Be able to build my house debt free and get off the car payment plan
I could do in 6 months what it will take me to accomplish in 3 or 4 years at my current job.
Cons
I would be gone from my wife and daughter all but a few days/month and I am not sure how long the job will hold up the way the oil and gas industry fluctuates.
My daughter is Sr and I would miss some of her activities.

Is the reward worth the risk?

[GarGuy]

Absolutely.. do it now.

[solocam_aggie]

Not it my eyes. You can potentially make the money later down the road at another venture. You cant make up those lost activities with the family.

[youngbuck1]

Yes, for the long run at least, If the job holds up. Lot of if's in your situation. I would try it if you could safely return to your current line of work if it fell through. Rewards do not come without risk. If your back up plan is solid I would do it. That is just me though. Good luck to you in your decision.

[Darton]

I say go for it! May last longer than you think!

[duckmanep]

Tough one. How stable is the current job? What is your plan if the new job flops in 6 months? How long would it take you to find a job that pays as well as the current one? What does the wife say, and what kind of strain would you being absent put on your relationship?

[Pineywoods]

I would be gone from my wife and daughter all but a few days/month

Is the reward worth the risk?

Not for me but each person's priorities are different. The time spent with family is way more valuable than any retirement fund for me. I personally wouldn't sacrifice all of that for $$$. It would be different if I had no other source of income and it was necessary. But if I had a job already making 70k that allowed me to still have quality time with my family and pay the bills...it would be a no brainer. Many men have chosen the $$$ and looked back when their kids are grown and had deep regrets.

[Antlers86]

Can't take money to your grave. I'd stay where you are and enjoy your family. God will provide and take care of you.

[TheHammer]

I wouldn't, but that's just me. I would try to make up the difference by selling vehicles and buying used vehicles with cash. Then start heavy paying on the house and pay it off 2-3-4 years. Three years down the road you could be putting $1200 in retirement and saving $1000 by being debt free. If you can pay off all debts it frees up a lot of money.

[Texastaxi]

I say go for it! May last longer than you think!

Or, since he's already said it's oilfield related ... much SHORTER than you think.

[coldgas]

Wife is not completely on board at this time and I wouldn't go unless she was. I'm not sure how long it would take to replace my current job. I have a cdl, oil and gas experience as well as freight broker and management experience. I've never worried about how I would replace a job.

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[npe001]

When i graduated college, I was making close to 100k a year at my first job. I was gone almost 95% of the year away from my family and fiance. It was not worth it in my eyes. I gave it up and ended up making about half of that. Learned real quickly that there is more important things in life than money. Don't get me wrong, I miss the money but i am a lot happier now being around the people I love more often.

[DirtyDave]

I would do it. To me, the sacrifice would easily pay off.
Even if you just did it for 1 year. Thats 130k more than you would have when a year is up.
Thats gets you out of debt and then some to sit comfortably.

200k -70k to live off (no difference felt), -60k towards debt, = leaves you with 70k ahead after 1 year.

Take a few weeks or a month vacation after 1 year to spend at home with the Fam, and then get back to it.

[coldgas]

I understand what you are saying about family. That is why I left the trucking industry and started where I am now. My kids are almost all gone now, just 9 months before my youngest goes off to college. I guess what bothers me most is that I know a couple of people who are in their 70's struggling on social security,. They are capable of working and want to work but nobody wants them because of age. I don't want me and my wife to be in the same boat one day. I would also like something to leave my kids when I'm gone.

I also know what your talking about on the cars. I also know my wife wouldn't be on board with sell her car for a cheaper one. Lol

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[gemini2759]

Only you can decide. Go with your gut. It's usually never wrong.