Exploring new career and income paths

[Michael Riley]

Hi All,

I just joined this form after finding a few posts on Google. The reason I am reaching out in this post is because I have been recently left my previous employer, who is a large retail mortgage lender in the US, and am in a great spot to explore additional options and am reaching out for advice.

I am 27 years old and have a decent amount saved up. Prior to working as a residential mortgage banker, I didn't have much. My plan is to move to another mortgage company, as the industry is doing well; however, I have a few things keeping me from this.

As a residential mortgage banker for a large lender, I've realize you can make s great living, but never really grow rich.In my 2 years as a banker, I earned an average of $115,000 annually. $200,000 a year is feasible, but companies cap earnings. Plus, this typically required 12 hour days 5-6 days a week. Not much time out of the office.

My qualm with this is I can build a resume, but selling mortgages is a business that one day may just slow down substantially, so I'm worried about the security of this path.

Other options I've considered are opening my own business where a company can't cap you, but this requires more hitting the street and building. Plus, I'm not too sure of that fits my personality as much.

Also have looked into being a realtor, but face to face transactions haven't always been my strong suit.. I've been in phone sales the last 2 years. Also considering a management position with General Motors, but this would be salary and I've been primarily comission as of late. Not too interested in salary. 

If anyone could provide me with some advice as to their opinions on the next steps, I'd greatly appreciate it. I'm lost on what to do in the next career or where I want to end up in 5 years and how to get there. I know a substantial income and great savings is where I'd like to be with some rental properties, but also the opportunity to enjoy my free time  I'm not afraid of 60 hour weeks, or more, but would love the flexibility of determining when those 60 hours occur  

Thanks for all your help.

Mike