41–50 of 175 posts
Is it something you can start as a stealth project after work, while you collect the 500K/year coupons?
Quit tomorrow. You’re smart enough and capable to make a salary most people could only dream about. You’ll be fine. Most people retire on two years worth of your salary.
Well, most Americans anyway appear to retire on about one-fifth of two years' worth of his pre-tax salary. [0] [0] http://www.transamericacenter.org/docs/default-source/resour...
In 2009 I left my well-paying job at Google to start a startup. I wasn't terribly unhappy at Google - I just didn't want to spend my whole life there, so it seemed like a good time to do something else. Over the next year and a half or so, that startup fizzled. Psychologically that point of failure felt pretty bad. But it seemed pretty clear that I would be able to come back on the job market in a fine situation. Emp…
Wrong advice. First live the life before doing it. Going to move somewhere? Rent first. Going to live a life with a lower living standard? Start living on a budget first. So when you are forced to do this, you and your family will be able to accept and adapt properly.
Move somewhere the cost of living is lower then do something that earns a regular income but doesn’t suck.
I think when we read HN a lot we are susceptible to think the only two choices are working for FANG or risking everything on a startup.
I’ve been in this exact same situation. My best advise would be to start your business aside while maintaining your current job. Do not quit until you have some sort of version #1 of your product or whatever that is. You need data before making your desicion. I planned everything in my head but my steps were way too vague. I will build this kind of products or I’m even gonna try that business that has nothing to do w…
Basically, when you are 80, will you regret having tried and possibly failed or regret having not tried at all?
Granted you aren't going to be Amazon probabilistically but it will definitely make your life more interesting and put you in control of it and fully responsible for it.
Personally I'd rather try and succeed or fail on my own than just be a cog in the machine and possibly be on a ship that sinks out of my control or merely latching onto success. I'd rather be the captain whether she sinks or sails smoothly, hopefully the latter.
I went fully independent six years ago, originally just planning on a year, and there have been times of awesome and times of rough waters, but she is still sailing and it has been an adventure I know I won't regret having embarked on. Three of my six years are the highest revenues/income I have had annually in my career but one was the lowest ever, prepare for more volatility if you do.
If you do, my recommendation is make good habits early, cut your costs, be disciplined, aim for revenues as early as possible, work hard but work smart, be sure to take time off, and especially enjoy your successes and learn from your failures. Ship on the regular, and if you aren't, kick it in gear to go all in.
Honestly, I don't know if I'm giving you advice or myself.
Move to Western Europe, enjoy the 7 weeks of vacation ?
Avoid drastic moves. The older I get the more I realize most “drastic move” stories are bs PR pieces. Think how you can move in the direction you want to go in steps. Move to a cheaper location: see if you can move to a satellite office or work remote. No, then look at other jobs you could interview at in the area you want to move to. Translate your FANG experience into a career jump. Then you will have experience an…
It's not princely living, but if I had that option, I would seriously consider it. Having the freedom to do whatever you want with your own time, without the pressure of a job, sounds amazing. I think if I were in that position, I would end up doing something monetizable anyway, through hobby programming projects, but it would be so great to have the freedom to do it at whatever pace I want, and to get to pick what I work on.
If retiring on 1.1M cash + 600K 401K doesn't seem like enough, then sucking it up and staying at the 500K/year job for 2-5 years more is also an option. Cut down on champagne a bit, delay the yearly car upgrade, and you should easily be able to put away 100K a year.
In terms of finances, let's just say the year leading up to executing my plan, my family (wife and kids) trimmed down a lot on expenses. No more crazy vacations. We ate in a lot more. Psychologically, every one needs to be on the same page. It goes without saying, but a spouse that is supportive helps a lot.
Good luck.