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View Diary: THANK YOU FOR YOUR HELP TODAY! Son-in-Law Fired After 3.5 Years of Emotional Torture (194 comments)

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  •  Change is afoot, embrace it as a phase, be alert.. (1+ / 0-)
    Recommended by:
    War on Error

    ....assess the risks, and then act with confidence that you're choosing the best plan you can come up with. There may be some pain and suffering temporarily but you know you have assets (e.g., at least the two homes)  so there is a successful plan to be made.

    Here's one scenario:

    Sales commissions are an impractical and overly risky option for a primary earner with dependents. Period. But leave the lesson learned list for your SIL to make. Just make sure that if you allow any risk from his choice of jobs that you advise him not to do sales. Whatever he has to do or where ever he has to go or move to, he should be looking at financial stability and benefits over salary or location.

    Rent their house to someone else ASAP who can afford it and let SIL & family move in with you until they get back on their feet when you can reassess the wisdom of renting to them again.

    As an owner of two residences you're asking questions that should have answers in your own overall financial plans. Review your assets, liabilities, and risks and reassess where you need to be regarding the homes across your entire lifetime (I use a lifespan of 99y - way generous for me).

    One more thing. If you don't have a revokable living trust you should do that. You might collect advice and a better understanding of your financial state during the process of creating it and then your assets will be safely protected with some financial benefit.

    Best of luck. People go through these things and come out fine. Just be positive and methodical and vent on the side in private. ;-)

    •  I disagree with one statement (3+ / 0-)
      Recommended by:
      davewill, War on Error, kck
      Sales commissions are an impractical and overly risky option for a primary earner with dependents
      Good sales professionals are in demand, and highly compensated.  I am the primary bread winner in my household and have provided a very generous living to my family for the last 15 sales.

      Sales is a tough profession and isn't for everyone, but if you have the motivation and the thick skin, it is a very rewarding career.

      •  Agreed, it's a self and risk assessment. (1+ / 0-)
        Recommended by:
        War on Error

        The average person is not well suited to try any "tough" profession much less one where compensation comes only or largely by commission. Once there are dependents, unless there's already a good track record, it's a pretty high risk.  

        •  That, and there seems to be a proponderance (1+ / 0-)
          Recommended by:

          of shady businesses here in Utah for some reason.  I never had an employer problem until I moved here in the early 1990s.  Very strange job market.

          It's difficult to be happy knowing so many suffer. We must unite.

          by War on Error on Mon Sep 09, 2013 at 06:15:23 PM PDT

          [ Parent ]

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