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« How to Become Wealthy | Main | The Cost of Money »

November 16, 2009

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I took a risk 10 years ago and moved across the country to take my current job. It' been a great decision. The only problem is that this job is a dead one where I have nowhere to go for at least 15 years until my boss retires. Instead of changing jobs I took a risk started a business on the side as something to do. It was completely unrelated to my day job. This is the end of it's second year of business and it's now generating a 6 figure revenue stream.

Funny that you ask...

I resigned from my rather solid (but entry level) job just this past Monday, and this Friday will be my last day.

I have accepted a job that is quite a step up in responsibility. The good thing is, I interned for the Company in college, and they are the ones who pursued me for the position.

So I guess in my case the risks are manageable.

My husband left a job as managing editor of a newspaper to go back to grad school. Everyone said he was crazy at the time, but now he is a community college instructor making three times the pay for 1/2 as many hours. And the newspaper is barely alive, while the community college is thriving. Doesn't seem so crazy now!

My leap of faith was leaving my job as an academic advisor at a community college to become a stay-at-home mom. It was a big leap going from two incomes to one, but I love being home with the kids - it's been worth it.... and now my blog has opened doors for me that I never knew existed.

Change is scary, but it can be a wonderful thing!

I am all about taking calculated risks like these. Often, those who are the most risk averse react in a very risky way actually because they tend to just keep doing what they have always been doing and they refuse to think about the risks that are inherent with their current course of actions.

I have taken a few. I left a growing financial planning practice in order to start working on international trade issues. I now have a stable job that provides all the change and risk my family can handle - we move globally every few years. We have lived in four different countries on two different continents in the past ten years. Next year, I get to move to a new continent. It is fantastic to have a stable well paying job that allows me to do something new, in a new place, every few years.

Managing money well allows one the freedom to make risky career moves with a big safety net underneath. I can't imagine what it would be like to live paycheck-to-paycheck. However, I am sure that doing so requires one to pass up enormous opportunities. How could you take any kind of career risk - or even switch jobs, if you need tomorrow's paycheck to pat today's bills?

Ah, CCC above beat me to it. I too am all about CALCULATED risk.

Risk-taking doesn't have to blind, and in fact, I tend to think that's pretty stupid. Well, it is! Would you run across a 6 lane highway with your eyes closed? (Assuming you're not blind that is.) And if somebody were to do that, would we pat him on the back or would we snicker at him for his stupidity? So, why would we approach the rest of life blindly as well?

To me, it's all about calculations and planning. Oh yeah, you can accuse me of being boring all day long. I don't care. I'm all about upping the percentage of success in MY favor.

I believe Warren Buffett once summed it up best by saying, "I like to win. I'm all about shooting fish in a barrel, but I wait until the water runs out of it first."

I moved from the biggest company in the US to a small local company 12 years ago betting I could bring most of my clients with me.

I and my client base at the time were not a good match for the evil empire I was working for; and it worked out great.

Now I'm doing things and making the kind of income I never would have thought possible.

I'm nothing special - just made a crucial decision at the right time.

My wife and I took a 50% cut in pay for her to stay home and me to take a corporate job with benefits. Within two years we were drowning in debt with a second child on the way.

Just the thing we needed to get focused on living within our means, paying off debt and setting our financial plans in motion.

If it were not for taking the risk we would have never been forced to learn how to properly manage our money.

I can honestly say that we are wealthier now, in more ways than money, after choosing to make less money!

after realising somewhat early that gainful employment was not in my best interests and at the same time realising that i had an entrepreneurial urge, i changed career paths from one finance related field to another while at the same time doing independent business ventures on the side. While my new career path is fulfilling even at this early stage(honestly i feel as if i could do this forever) some of the business ventures went badly and i ended up loosing a lot of my savings. But be that as it may i am glad i took those risks because life if far more interesting now

I moved cross country to a strange city with a new job. Couldn't have been happier!

Left the miitary in '92, had a short corporate management career before that, instead of another middle management corporate job,I took a "job" as an indpendent contractor becoming a financial planner. Moved to new state and town (also moved my practice 2x in my career). Study, worked, and basically gave 15 years of my time, but, 25~ equivalent years of work. Made all of $4K year number 1 (11 months of work AFTER my licensing and basic training) but, next year almost $250K profit and kept it up from $135K-$445K profit for 16~ years of income before retireing at 47! That risk allowed me to live a nice lifestyle, travel, meet great folks but, I saved and invested (And paid taxes) usually of over $100K a year to both. Stopped before the $3M since it was enough and I was tired. Saw many folks "try" the same career and spend more than they made due to high income or just fail after 1-3 years...I took the risk and got the reward, done work at age 47! Nuff said...

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