What would you do in scenario?
Mom of 7yo in early 40s renting in HCOL, digging out of depression, husband alcoholic and travels. Work pros: remote, have lots of flexibility with work time. Cons: making 85k, no raise in 10 years.
Options:
New job, 6mo for a search, 130k ceiling, loosing remote and flexibility, AI risk
New field, 1-2years study+job search, 200-250k ceiling
Purchase business using saved 150k to potential income of 200-250k, 6-8month, risk of loosing all
Any other?
That’s a tough situation to be in. Another option would be to maximize the moments with your existing 7yo. There are plenty of ways to build memories together that don’t involve spending tons of money.
Given your current job is flexible, I’d prioritize the value of the time you have now with your 7yo. We will know them as adults for most of our lives, but the years pass by so fast when they’re this young.
If you’re considering divorce, do some research or talk to a local attorney about community property laws. Depending on the state you’re in, if you start a business now your husband may be entitled to half the value when you divorce.
Basically can't afford a second child, can't afford to buy house and can't afford to divorce. Aging out of childbirth anyway, so would like to have some freedom in life that can be purchased. I imagine I have about 10 years of active career left so not so much time to try all three options. Also if landing new job I expect to have 0 free time to study, or maybe it's depression talking