Become a locum or permanent job?

[nicsa122]

So I am an intern pharmacist near to becoming a pharmacist. Hubby is main income earner in our household and we have two investment properties. Trying to think of best strategy for a job for me: I would like to work as a casual/locum so I can pick and choose my hours and give me some time do renovate and explore expanding our portfolio. It's also better paid (about $40 an hr versus $30-35) but hours are obviously less predictable. I Know that banks don't like this form of income for lending purposes, but how big of an issue is it? Hubby on 80k currently. Is it worth me getting permanent hours for a couple years whilst we expand portfolio?
Thanks in advance...

[Cpt707]

"...Cash is King.." to much leverage is stressful....

[PTILoveYou]

Speak to a good broker and see what the difference will be, but generally banks love slaves on good salaries.

[Cpt707]

Well spoken Gary...

[nicsa122]

Speak to a good broker and see what the difference will be, but generally banks love slaves on good salaries.

And hence why its so hard to find locums.

[PTILoveYou]

Well spoken Gary...

I'm a slave/mouse and I want to get out asap!

[nicsa122]

I'm a slave/mouse and I want to get out asap!

Sell sell sell!!!
Then retire to a small town. Once we get to $1 million equity were just going to move to like Blenhiem or somewhere and own a freehold mansion.

[Courham]

Good plan nicsa122 but alas as far as Gary is concerned the rest of the country is Zombieland.

I assume you'll keep some rentals too.

Craig

[Wayne]

Sell sell sell!!!
Then retire to a small town. Once we get to $1 million equity were just going to move to like Blenhiem or somewhere and own a freehold mansion.

Belnheim, or Hawkes Bay - think of all that lovely wine to taste. Mmmmm

[Aston]

Sell sell sell!!!
Then retire to a small town. Once we get to $1 million equity were just going to move to like Blenhiem or somewhere and own a freehold mansion.

The problem with that theory is that as soon as you achieve the $1m equity, you will likely choose to or have to move the goal posts because $1m will no longer buy the mansion you had imagined it would, in an area of the country you would be comfortable living in.

[nicsa122]

The problem with that theory is that as soon as you achieve the $1m equity, you will likely choose to or have to move the goal posts because $1m will no longer buy the mansion you had imagined it would, in an area of the country you would be comfortable living in.

Property values in Belnhiem are unlikely to go up by much by the time we get there...currently 500k will buy you a mansion there so we should be set with 1million. What's more pharmacists earn a lot more in the provinces...as for hubby I can see him happily driving boats for a living. Back to the question at hand should I become a locum or salaried employee in the interim?

[PTILoveYou]

1mil equity?

All I can say is set your bar higher lol

[Cpt707]

...go for 'provincial locum'...demand top pay level with all expenses included...then 'stash the cash' as fast as you can and the "Mansion on the Hill" will show up for sure...Good Luck

[Wayne]

1mil equity?

All I can say is set your bar higher lol

Is it best to wait years for more or enjoy what you have more now?
I suspect this is very individual.
Something to ponder over a nice glass (or 4) or fine Central Otago Pinot Noir.

[PTILoveYou]

Is it best to wait years for more or enjoy what you have more now?
I suspect this is very individual.
Something to ponder over a nice glass (or 4) or fine Central Otago Pinot Noir.

Yeah of course this varies between individuals.

All I can say is this, you better make damn sure the time you sell is the right one, because if you find afterwards your financial goals aren't met by selling too soon, you will find it hard to get back on the ladder!