Bouncing some thoughts…

Hi group,

I’d like to bounce some thoughts around here because I’m at a professional crossroad and wondering whether I should take the plunge as the situation is a bit nerve-racking having children and a mortgage.

By introduction, I’m incredibly grateful for the financial position I am in and after many years hustling at my career I am now at that point where the work has become somewhat predictable to the point where I no longer experience a jot of stress (maybe a tiny bit) - call it monotonous. The input vs output is definitely in my favour now that I’ve achieved this level of competence. As a result, I am emotionally and physically available for my family and I am also entertaining the idea of finally pursuing hobbies I would never have considered before.

I still have another 25-30 years until retirement and I am currently enjoying the work situation but the side-effect of minimal stress at work is professional boredom. I do fear that I may become so disengaged with my career that it may backfire in the future.

And so my crossroads:

I have been presented with a huge opportunity to further my professional standing through tertiary education which would possibly double my earnings. But this would come at a huge financial cost (which I could FEE-HELP) and our household income would take an 85% hit for 2 years. We are still paying our mortgage which is significant, in addition to all the other normal household expenses (but we have savings). The study would be VERY gruelling, and although my partner is incredibly supportive I do get scared of upsetting the relative peace and stability we have achieved in the household.

The temptation is to take the opportunity not just for the money but also the freedom to work part-time in my own business as opposed to being an employee (not that I necessarily hate being an employee - there are perks). Although the stress will be considerable in the first 5 years until I get more comfortable with my new skillset, I’d definitely have more leverage in my field as a result and would cure that boredom.

The fantasy is to buy more experiences for the family while creating generational wealth. I don’t really care for exotic cars or other luxury goods, but the biggest expense I can foresee as a result of this is up-sizing our current PPOR.

OR

Maybe just stay the course, embrace the monotony, pursue my hobbies, manage life’s more simple pleasures finding joy outside of work.

Has anyone here been at such a crossroad before? How has it worked out?