Can I have some ideas please

This topic was created by Mr_Pitiful .

Can I have some ideas please

Hi mostly guys

I might be offered a 12 month temporary position overseas in the next few weeks

What I want to know is should I take the position

The deal is this, I have an established company that I earn enough to pay everything & have enough left over every month for my wife to safe about £500

The overseas position is 6k miles from the UK in a very remote location, They want my network, telecoms & IT skills and are offering £40k + travel, expenses, temp relocation, family relocation expenses for the duration, paid schooling for the children and a chance to relocate on a perm basis.

I'm completely overwelmed with this as it would mean shutting down my own business, selling our house & moving to a potentially temp position on an Island.

Do I sell up and shut everything down and maybe comeback to nothing?

I've been totally messed up all day about this, and it's doing my head in

If I go..

I'll never see my friends or family except maybe a couple of times a year

No more beers down the pub with my dad every Sunday

I don't think I'll be able to sleep the rest of the wee, as my wife says 'just do it'

Cheers for any sensible advice

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Re: Can I have some ideas please

Just to be sure I understand would an accurate summary be you would largely get £40k to pay for food and entertainment with most other costs covered.

My first question is what is the tax burden going to be like? I know here in the States, sometimes you are taxed on indirect compensation. For instance there is a line item on my pay stub which reads GTL imputed income and this is basically accounting for my income based on my company's group term life insurance policy which is paid by the company. I don't know what location you're speaking of but they could easily tax you for some portion of the expenses your employer would pay by imputing it as your income in a similar manner.

My second question is that since you seem to be the adventurous type, not everyone has the stones and skill to establish their own company and make it work, what are the main reservations you have? Perhaps you started the company when you were single and now the responsibilities of family make you hesitant, in which case there seems to be no reason not to follow the advice from your wife even if Sundays may be a bit less...

If you can do it and either have someone to take over the business or have the time to quickly bring someone else up, you wouldn't have to worry about stranding any current customers that you care about. As I'm late to this party, I'll say I'd only rent the house out if you have someone who can manage the property since you're not about to be in a position to jump on a plane if the water heater blows. It would have to be someone local that you trust to do the due diligence and they'll wind up with a few extra dollars in the pocket and your aim is to largely stay even unless a loss can offset the aforementioned taxes; would it serve as a potential retirement home if you can't make it back in the near term?

Perhaps you may have guessed I'm going to side with that 1980s_codger guy ;). I'm now a few thousand miles and multiple time zones away from where my family is and my wife's family is even further in the opposite direction. Next month I'll miss a wedding in the family because the timing is horrible but fortunately they're going to stop by here on the honeymoon because as it works out they might wind up here as well (career Navy guy). Honestly, we've been here five years now and I'm actually hoping a new adventure isn't too far off. Perhaps one closer to the ocean so I'll get to dive more.

Good luck, good fortunes.

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Re: Can I have some ideas please

;)

I never said they could read English. Alas, and yet still a great thing, my niece is a quick study and literally shocked me with a video call when she started speaking nearly perfect English which confused the living bejesus out of me in the "wait, what, that was not at all what I expected" sort of way.

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Re: Can I have some ideas please

If you have your own business, it is going well, and are apparently happily married, why are you even thinking about this?

Where is this distant island, are the people offering some big multiple of what your own business (which sounds profitable yet relaxed) brings you and your family? Having your own in-demand business is a precious thing.

Is it a tiny island where you will enjoy the first few months but end alienated?

Your wife, you say, says 'just do it', sorry, makes your description of the situation you have seem partial at best.

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Re: Can I have some ideas please

Question poster seems to leave much in the dark. We regtards want to give helpful advice (I try, as you do, below) but the account does not add up.

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Re: Can I have some ideas please

Instead of going alone you should go with your family, and for good amount I will suggest you to don't leave this opportunity, you will experience new city, new environment, new people and getting more experience make person more stronger for taking decisions.

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could you rent out instead of selling the house? Wouldve thought the costs of selling and buying again a year later would be uneconomic.

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This post has been deleted by its author

My guess is that

Mr_Pitiful was full of shit in the first place.

Very stupid user name.

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