Small steps lead to big changes...

WinterWarrior

This is exactly why I fought redundancy. The lump of money would have been amazing with no changes, but the risk was much too high. All it takes is a lower paid job for a few years and you are definitely losing. I found I was very risk averse. 

beanielou

Funny old thing life. I would take it & go go go. Pay down the mortgage in part & see where the next chapter takes you. We are all different & you must do whatever is right for you. 

Onebrokelady

I am definitely too risk averse so would stay put but I suppose it depends on how easy it would be to get another job. I’ve often thought of leaving the NHS but it was always too secure for me to take the chance plus no where gives you as much ALas I used to get apart from education and even they don’t get to spend it all relaxing. Of course it’s less now but I work considerably less than I did 

jwil

WinterWarrior said:

This is exactly why I fought redundancy. The lump of money would have been amazing with no changes, but the risk was much too high. All it takes is a lower paid job for a few years and you are definitely losing. I found I was very risk averse. 

Yes, this is my worry as well.

beanielou said:

Funny old thing life. I would take it & go go go. Pay down the mortgage in part & see where the next chapter takes you. We are all different & you must do whatever is right for you. 

If I was a few years down the line, I definitely would.  I think it's just too risky at the moment.

Onebrokelady said:

I am definitely too risk averse so would stay put but I suppose it depends on how easy it would be to get another job. I’ve often thought of leaving the NHS but it was always too secure for me to take the chance plus no where gives you as much ALas I used to get apart from education and even they don’t get to spend it all relaxing. Of course it’s less now but I work considerably less than I did 

I would be very unlikely to get a job at the same pay level as I don't want to commute.  Assuming I walked straight into a new job I'd have to use my redundancy then to subsidise the wage.  I'd probably look to the NHS if I could for an admin role.

jwil

Although the ££ signs are still dancing in front of my eyes, I don't think I'm going to go for it.  Of course there's still a chance I'll be made redundant anyway later in the year so I might have another chance.

I think it's just a few years too soon.  It's only the last couple of years we've been in a reasonably sustainable financial position, and the memories of struggling so much are still very real.  I don't want to voluntarily put myself in that position again without trying to put more away first.

The kids are still young and little miss in particular would still need wrap around/holiday care which I can cover currently through working from home and that's unlikely to continue if I went for a different job.

I couldn't pay the lump sum off the mortgage, fab idea though it is, as I'd need to dip into it.  If I did have it and didn't need to, I would have been able to get some of the work done on the house though, and that would have been lovely.

Although DH has survived this round of cuts, there's no guarantees with his job either, so it's safer to stay where I am for now, and continue hoping for the lottery/PB win.

savingholmes

I think that's a wise decision Jwil. In the past I was lured by £26K redundancy package - but I then was in and out of work for 5 years as it was a recession period and was in a pension wilderness. If you look at what your pension goes up by annually and multiply it by 25 = that's its rough value. Then multiply your sick pay and holiday pay entitlements and add those to your salary - and you'll start to see that what the external world gives compared to your current protected terms are very different.

jwil

savingholmes said:

I think that's a wise decision Jwil. In the past I was lured by £26K redundancy package - but I then was in and out of work for 5 years as it was a recession period and was in a pension wilderness. If you look at what your pension goes up by annually and multiply it by 25 = that's its rough value. Then multiply your sick pay and holiday pay entitlements and add those to your salary - and you'll start to see that what the external world gives compared to your current protected terms are very different.

That's a really good point - thank you  

jwil

Today's PAD - £2, yesterday £10

Jan - £319
Feb - £135
Mar - £101

savingholmes

Well done on the PADs

jwil

savingholmes said:

Well done on the PADs

Thank you