81–90 of 175 posts
Earlier quoted context omitted.
Isn't anything bad by definition when "too many" people do it?
This is also morally suspect. You're putting extra load (taxes if anything) on people while you're not working. If you think you can repay this cost to society with volunteer work or otherwise, this might work.
I thought we had got past the idea of collectivism, it just doesn't work.
Unless there's unique opportunity right now to start your own company, keep your current job until you have enough savings to sustain most of your current living standard. I'm surprised you haven't saved more at your age with this kind of salary.
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…
If the OP is struggling with the stress of his current role I fail to see how adding additional work is going to help.
I would quit my job in a second to pursue a dream or retire. I have different financial expectations & desires than most.
I actually just pulled the plug on quitting my "high paying" job. The pay is quite nice considering my cost of living (I'm a remote worker), but nowhere near what you're making.
It would be easy for me to continue at the job feeling burned out, hating my day-to-day, but having no financial concerns. But I'm not proud of myself. I want to do something radically different, and I don't want to work for anyone else anymore.
So, I put in my notice and I'm taking the "scary" route instead. I'm excited about it, rather than concerned, and I don't have a million bucks guarding my flank, either.
If I were in your financial position, I would retire immediately and pursue whatever I desired without jeopardizing my already-achieved wealth. For me that would be hobbies, not income--but many hobbies also generate income. You could achieve a nice middle-class passive income forever, and that would suit me much better than wasting one more second in a job I hate.
Best of luck!
Earlier quoted context omitted.
At many companies, including all FANG-like companies, you can't start a business on the side. Your employer may claim ownership and you can be fired for breaking your employment contract.
In California, that's not the case. As long as it's not a competitor or in a similar space the company should have no claim to your business or ideas generated while not using the companies resources.
I did the math and realized that I had "enough"; anything more would just be working to enlarge my kids inheritance. So there was nothing really stopping me except peer pressure. Given that cultural pressure, it was one of the hardest things I've ever done, and all my peers were simultaneously jealous and incredulous.
On the risk, I think you are really over-weighting the downside scenarios. I realized that given my track record and resume, in the worse case scenario I could always "get a job" if things didn't work out. You will never starve.
And if you are bootstrapping something with low capital costs, you will be able to monitor and see in advance if it's working or not. The decision is not binary. You get to adjust as you go!
The ultimate first world problem, but still a real one. Around the time my first kid was born, I took a look at the profits from my little handful of SaaS products and decided that, even though we were happily living off it, it wasn't really "put a kid through college" money. So I picked up a remote contract. But, SaaS being Saas, business picked up. After a few years, the product business was bringing in more than a…
You even have reserves, I think it's more likely that you would hate not having done it than when you would fail.
IMO freedom is always worth some risks.
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.
However it is very easy to simply start from a lower standard and increase as you feel you need to than to start at the top and decrease to a lower standard gradually.
Earlier quoted context omitted.
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.
Good news on the living standard - I grew up in relative poverty, so that won't be as much of a problem. I still don't spend a lot these days...
Not sure what you are trying to say here. Do you want to go back to those days?