Would you leave a stable job for a startup role that’s way over your head but pays a lot more?

My boss of 3 years was let go about a year ago, and she recently called to tell me she has started a few companies and is feeling overwhelmed. She wants to meet with me and is essentially offering me a controller position with significantly higher pay.

The hesitation is that I have been working in AP for the past 4 years, so this role would be outside my current experience. On top of that, these are startup companies, so there is always a risk they might not succeed. There are no benefits or RRSP yet, although I could likely be added to my partner’s plan.

Where I am now, I am comfortable and have benefits, including RRSP matching, but I have been in the same role for 4 years without a promotion. I have received raises, but I am still only making $60K a year.

I also have a 3 year old daughter, and this opportunity feels like it could be life changing, but I am really scared to take the leap. My old boss is one of the smartest people I know, so I do trust her and her abilities, but there is always some level of risk. Over the years we did get to know each other pretty well though and we know how each other operates. Another positive is that this new role would be close to my house and I wouldn’t need to be in the office full time it sounds like. What should I do?