Dilemma: Higher paying job vs starting a sideline biz
Problem to solve/Target:
To earn 500k net over the next 10-12 years to deploy into high growth stock investments. Net worth target north of 2.5m in year 2032-2035. (Current net worth about 200k, consisting of about 90% equities and 10% cash). *All denomination are in SGD. Current situation: In my early 30s, working in a cybersecurity job that has great WLB (9am-6pm/5 work days), am thinking of starting a micro Saas company and working to accelerate the capital required for the investments. The idea is to work on own biz during free time (Work on weekdays 1-2 hours before leaving home for work, another 3-4 hours after work. Work on full day Sat + 0.5 days Sun) Dilemma: I have a job offer that pays me higher, but may require more time at work and mental capacity as the team is new and expanding(AKA overtime, meetings to senior management etc). So do I 1) Stay at current job with great WLB and try to make something work in the next few years with the available time that I have OR 2) Accept the new role and use the increased earnings primarily to invest, and if there are free time available continue to work on my biz? Trivia question: With entrepreneurship raging on social media these days, is it actually possible to make a micro Saas company work in Singapore and churn out meaningful income to inject into investments? Is there a huge survivorship bias going on and difficulties of entrepreneurship severely underestimated? Would like to pick on all of your brains for opinions. Constructive criticism is HIGHLY encouraged. Please fire away. |
how much offer you get?
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2.5 mil in 10 years based on 115k annual package? HAHAHA u can dream on bro
Focus on earning more first dude xD. A reasonable net worth target with that income is 1.2-1.3mil for u, thats if that "high growth stock" doesnt burn your cash away |
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Wasn't actually asking for a "reasonable" NW too. Kinda obvious it's gonna be extremely challenging to reach a 2.5m NW depending SOLELY based on a 115k annual paycheck for investing capital. Cheers and thanks for your quite unhelpful input. |
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If you are still in a dilemma and haven't started anything, just take on the new job. You may be stuck in the status quo forever even if you reject the new job. |
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The dilemma here is the opportunity cost. Opportunity cost of losing that few grand annually (higher pay job) vs Opportunity cost of potentially earning more if that side biz takes off. Both options have trade offs, but I am not sure which trade off I should take. |
Starting your own stuff requires a just try attitude.
You should try to fit it into your schedule, instead of hoping your schedule can fit it. Worry about not having enough time after you start it running. Can decide if you want to do it full time or allocate more to it at a later stage. I don't see the dilemma to be honest. If you feel good about the new job, just take it and start your project too. If you don't feel good about the new job, then wait for a better offer or role. |
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