This year we took a risk. We sold our house without having bought a new one. We packed up all our belongings and stored them at families and friends and moved in with my parents with our 2.5 year old and 6 months old. All the while living with the unknown, how long would we be without a home of our own?
It got me thinking about risks though…
How and when do we take them?
Do all people that take risks really fail?
Do I pick the safe option over the risky option in my life?
Do we take less risks once we become parents?
When we considered moving we looked at the risks vs the benefits. I wanted somewhere that would reduce my commute and make us closer to my family. The risk is that we would lose money on our property and be without a house for a while. The benefit would be living in our dream area in which our property would increase in value far beyond where we were. We took the leap and actually made a small amount of money on our house after realestate fees. But we are without our own house and that’s scary. We don’t know if we’ll be living with my parents for a month or a year. But when the right property comes up we’ll be ready to buy and our offer will be strong.
We recently reviewed our superannuation and insurances. The biggest questions is whether to keep the money in the superannuation company we always have or move to a lesser known one that invests more in big Australian shares and reviews our investments yearly to personalise them. How will we ever know which one would do better. We don’t have a mirror ball that allows us to see into the future. Instead we weigh up there risks and benefits. I guess if the new superannuation company has good reviews and is run by legitimate investment managers then the effort of trying to secure a larger retirement amount is a positive and worth the risk? Who knows..
I work as a teacher. It’s what some may call a safe profession. But its a stressful one, in which you can only be promoted so high. The money isn’t great but the holidays are- if you aren’t working them making and prepping. I could train as something else but its very hard to match what I’m earning now straight away, it could be year before I make that kind of money again and no other career is going to offer me 12 weeks holiday and weekend off. However I might make a lot more money and one day be my own boss in which I could pick my hours. It’s a very difficult decision to make. A benefit could be reduced stress and the possibility of work independence. But in the short term the risk is high. One would suppose if the new career venture did go belly up I could fall back on teaching. Could I live with the regret of never giving something new a go? As I’m writing this I’ve almost convinced myself to try the new venture….
What are the risks you’re thinking of taking?
Are they relationship risks? financial risks?
How did you decide whether to take the risk or not?
Have you taken a risk and failed? tell me about it!
Mumma Z xxx