Help me decide...

[shesawseashellsontheseashore]

I'm at such a crossroads workwise. Just wondering what other people would choose in my position...

Option 1
Go back to old career which is office based. I'm good at it and I can do it standing on my head. Salary is in the region of £25k to £30k and if I get back into a decent company will include benefits, sickness, holiday and pension. There probably won't be a lot of progression unless I find a way to do a sideways step. It's fine. I don't hate it. It's secure but it doesn't make my heart sing if you know what I mean.

Option 2
Stick with new career which is a creative job with a small company (total of 5 staff). I'm good at it but still learning. I'm paid by the hour (c. £9 per hour) and there are no benefits except for a bit of an employee discount. There's no real progression but I could potentially set up my own business. I doubt I would ever earn mega bucks but could probably earn £25k+ after a few years (if it was successful) and, of course, it would be me calling the shots. There are downsides to it but overall I am pretty passionate about it. It's just the insecurity of working for a small employer and lack of benefits which is worrying me.

I could potentially do both but I rarely see part-time for Option 1 unless it's a much lower grade/salary (so may as well do Option 2 full-time!).

It depends what else is going on in your life. If you don't have dependants or your family don't absolutely rely on yor salary then I would go for option 2.
Why are you at a crossroads at this point? How would you feel about possibly working for yourself in future, and all that entails? If joj don't have kids but want them soon, would it be better to delay option 2?

Thanks workingtitle

DH has a good middle management job. We could live on his salary if we needed to. I guess I just feel like I need to get my finger out a bit and earn a bit more! I'm also worried about my pension or lack of...

Sadly, we don't have children. It never happened and I am mid forties now so have given up on the idea. In some ways I feel like I need something to get my teeth (so Option 2 would be the better option) and in other ways I just want a secure life being able to spend money and go on holiday without worrying too much (in which case Option 1!).

I realise I am in a very fortunate position. Option 2 was sort of a long term dream but it wasn't possible for a long time because I was on my own and paying the mortgage which took priority.

Going on that I would probably pursue option two. Work takes up a lot of your time and energy - too much to pass up the chance of doing something that genuinely excites you, if there is a choice!
You can be more budget savvy and keep your personal pension pot going, invest in property, make cutbacks to afford holidays etc...whatever makes sense financially. Could you speak to an IFA to get some advice on pensions etc? How does your DH feel about it? DH and I have at various times earnt vastly different salaries and we always felt that things just balanced out in the end...

That's very true.

I am pretty frugal anyway. I shop at ALDI/LIDL, charity shops and buy and sell on eBay which isn't too much of a hardship as we live in a fairly affluent area so the pickings are rich.

DH wants me to do whatever makes me happy which he thinks is Option 2. He's very relaxed about it all. To a certain extent, I think the problem stems from coming from a family where a job is for life, steady, professional, you put on a suit and go and work in an office, etc. etc.

I understand about family expectations. It's just the longer you carry on in option 1 the harder it will be to change. I guess the thing to ask is would you look back in 5-10 yrs and have regrets if you don't try 2, even if things don't work out? I doubt you'd regret sticking at 1...

That last sentence doesn't make sense, sorry! I guess I meant 1 is the safe option.

Thanks workingtitle

You are right and I potentially have another 25 years of working ahead of me. I think I will be annoyed if I don't give the self employment thing a go. With that, hopefully I will earn the same but potentially I could earn a lot more. It ticks all my boxes in terms of skills. I'd also feel really proud of saying I'm the owner or director of such and such company whereas when I used to tell people what I did previously I used to cringe a bit because I feel like I am capable of so much more!

I don't think it would be too difficult to go back to option 1 in a few years time anyway.

If you can retain option 1 as fallback then go for it.
DH set up his own company 6 years ago, it didn't work out but he was very proud of his efforts and in the end he developed a lot of new and useful skills, as well as confidence, that meant he could go into a better role in someone else's company.
All the very best of luck