Thread: Thoughts please

Right, after having a discussion with a mortgage brokers who will require my services next year (as a mortgage adviser you dirty minded people) I have three options available and I want to get an opinion on what you would do.

Before I start I should say that when Mr Gonzo and I go unaccompanied we can afford to live off of his wage, although we would be counting the pennies.

Anyway.

Option 1. I work as an employee of the company and earn a basic salary with commission on top.

Positives: Regular, guaranteed wage

Negatives: Will not be able to tailor my hours around my children and childcare will wipe out half my salary. May not be able to move the job from where we are posted to where we want to move to.

Option 2. I work as an appointed representative for the company. Commission only.

Postives: I can move the job with me. I am self employed but with guaranteed leads and the back-up of company software, admin support etc etc

Negatives: Lack of guaranteed wage.

Option 3. I go completely self employed via the company.

Positive: Can do whatever I want whenever I want

Negative: Cost of leads upfront etc.

I have pretty much discounted option 3 because we need all our savings for the house we want to buy. Option 2 appeals because I can incorporate it into an Estate Agents business I want to start eventually.

What would you do and why?
Positives: I can tailor the hours to suit my children (reducing childcare)

Should add Mr Gonzo leaves the lean green fighting machine in 4 years.

I'd have to ask:

1 - How long are you planning (if you can plan really) to be around the area
2 - Have you asked about flexibility on working if you take option 1.

Feisty.

There is a lot of flexibility with option one but there might not be a position available in the area that I will be moving to immediately. At this stage I can't really plan anything because I don't know what we will be doing, which is why I am thing the appointed rep option might be the best one.

Me xx

Gonz i think deep down you've already made the decision but are looking for validation. If you think it's right go for it.

If you don't know how long you will be in that area for then I'd go option 2, means you keep your skills up, less guaranteed money, but no hassle of being self employed etc.

Means you can work the hours that suit you but less tied to one area.

But as Special Tree said, if it feels right in your gut, then that's what's good for you.

Gonzo, you and I will be hitting civie street about the same time, what's the worst that can happen? After being with the LGFM there isn't anything that civie street can chuck at us that we can't cope with. Go with your gut, pick what has the best scope at this range, and see what happens nearer the time. Cover all your bases, and just let the universe sort the rest out, it's not done a bad job up till now lol x

Gonzo, it sounds as though you've already made your decision, and if it makes any difference I would also have chosen Option 2.

Reasons?

1. You can live off Mr G's wage, so if you don't earn a commission one month it doesn't mean starvation.
2. Childcare costs. Need I say more? Flexible working hours that allow you to work around your kids is invaluable.
3. Flexibility in terms of location, not just while hubby's in the army but afterwards as well.
4. I like your idea of incorporating your own business as well - something a fixed-term employer generally doesn't take too kindly to.

Hope that helps

Ladies,

I love you

I do want to do option 2 for all of those reasons, but your right S_T I did need validation. Hubby just says to do whatever I want to do! men!

Worst case I can always sell my soul nearer the time hubby gets out and work for a company full time.

G x

Why estate agency? Its pretty rough out there with no let up in sight for years to come?
Option 2 seems ok. I take it there will be chances for you to reconsider if things dont work out?

Elansofar,

I have a bit of a property problem, so opening an EA, which incorporates mortgage advice, conveyancing and interior design has always appealed to me. This is not going to be in the short term because I know exactly how bad the UK economy is at the moment, but it is a long term plan with three highly skilled individuals accompanying me along the way. If it does not work out I shall just go and work for a brokers or an EA directly. I don't care where I work to be honest as long as what I take home pays the bills.

G xx

I'd go with Option 2... reading between the lines this is what I think you have decided upon anyway...!

I'd say option 2