...to wonder whether it’s best to invest in a career or home first?

[Ubertasha2]

Hi guys,

This might sound like a really daft question, so please be gentle! Also v, tired, as on 24/7 duty!

Basically, if you were late 30s, still not on the property ladder (I’ve lived and worked abroad on a off), and now decide to have a career change (when the current career really ain’t going anywhere fast!), what would you focus on first- property ladder or career?

I really sound naive and young (neither are true), but what is best: invest in a good career (dental hygienist for example or journalist training, then try to buy when established in said career?

Or: buy a home, then later retrain?

My current job is a live-in carer; a huge change of scene and pace after a very stressful decade as a teacher!

I am also unsure as to whether it’d be sensible to buy now, maybe a buy-to-let, staying in this current job for a while. Help! Clueless ftb here, buying on their own!!

If it were me i'd hold off on thinking about the house till after Brexit.

A few questions that popped into my head:

Could you retrain part time alongside the current job (not sure if that is possible as you say you are on 24/7 duty)? That would be a low risk option if it were possible, and would soften the immediate financial impact.

Could you invest more time into making more of your freelance writing work alongside your current (or new) job? Set up a professional looking website, social media etc, take on a few freelance jobs etc? Test the waters for a freelance career, and even if it turns out you couldn't earn enough this way to live off doing a little bit now and again might fulfill your creative needs? (could reach out to educational publishers for freelance editing / writing also given your background in teaching?)

Are you keen on staying in your current location? I think this would affect the house decision and any potential new career may also be location specific, I work in an industry where 90% of the jobs are in the south of England. In healthcare this is obviously not the case.

If it were me I'd either opt for the healthcare route with my choice influenced by the salary of your current job vs the salary of the new potential roles (and their ultimate earning potential). Or i'd stay where I was, save like mad, then in a few years look to buy in a nice rural/cheaper area and support myself through freelance writing and maybe a part time job. But that's just me!

Not sure if that's helpful - best of luck whatever you decide!

Tax credits - I think you are living in a dream world and should probably do a little basic reading up on average pension pots/savings at retirement age.

I don't give two shiny shits what the average pension pot is - and that is the point which you can't comprehend because you are wedded to the idea of property as an investment.

Don't patronise me with the idea of doing some 'basic reading' - believe I'm well aware that I'm doing the opposite of most - actually actively saving for retirement and life - and that most people won't have a pot to piss in income wise in retirement.

I only care about my pension pot, and my savings rate. And I know that both will see me fine.

That might be worded in anger. Actually I do care about it quite a lot, that the financial education of this country is completely bonkers. We are sleepwalking into a demographic nightmare because of housing and retirement costs that are totally unfunded.

OP definitely do not waste your money getting qualifications in journalism instead network like mad once you have a portfolio.

Journalism is competitive and the people I know in it or have done it do not have journalism qualifications. A few have no qualifications but the rest have anything including degrees in any subject under the sun. In fact having qualifications
and experience in some else will open more doors.

Thanks for all the replies. Going to save like mad, then reconsider things after Brexit.

I think that’s very wise.