My wife and I have debated for years whether or not a steady income is better than a risky job? We have agreed and disagreed over they years. A steady income – usually associated with a lower-paying job – has predictable cash flow while a risky job usually has high pay and significant rewards, but is not consistent. Many financial planners have told us that they can handle a client with steady income and plan their retirement better than someone who has an inconsistent income. I have been an entrepreneur almost my entire career and I have made some huge scores, but have had many years with no income. To me, it is just part of the lifestyle. What I like about a risky job is the excitement, meeting interesting people, and being constantly challenged intellectually. During the years I make no money, I must admit that I am jealous of those with steady incomes. However when I am involved in a very complicated deal, I love the adrenaline rush of the moment and don’t think about the rewards or the steady income. When a deal closes and I look at my reward, there is no way that I could emotionally accept a job with a steady income. So which is better – risky job or steady job? I believe it comes down to a quality of life issue. If you never want to worry about money, then go for a steady, predictable income, which usually means less lifestyle is always more. If you want some excitement in your life and the opportunity to change your life forever, then you have to go for the risk. During these tough economic times, the risky jobs actually look safer than the tried and true because of America’s embrace of unemployment.
Tags: melslife, richmel, risky job, steady job
