10. "My wife recently quit her job to sell women’s clothing. " In response to In response to 0
I posted about it a few weeks ago. It puts us on a budget of one steady, stable that will lean heavily on my overtime. It’s a scary situation truth be told but it’s also very exciting. She’s already a happier person overall. With us, this was a very calculated risk with a few layers of relative financial protection. It’s definitely not her long term dream and we see it as a 3-5 year window to ride this wave into whatever comes next.
We have a long term plan in place with a goal of me leaving by this time next year, if not before.
Which leads me into my failures, shortcomings, and procrastinations. I posted up about a ‘big idea’ a few years ago. Some things didn’t fall in place the way I thought and hoped, I got a little depressed and discouraged, and then life sort of took over and we’ve had several major life changes since the beginning of last year- promotion for my wife, new office for both of us, the birth of our son, sold a home, bought a home in a different city which gave us a commute, and now this current venture.
For what it’s worth I haven’t given up on that idea. I haven’t given up on selling beats or finishing up a small collection of short stories and one novel either. But today is about priorities and we have a plan in place. I have a daily regimen I began this week in the name of achieving these goals. I have to keep those things in play on some level. Hopefully I can pull something off.
In terms of talking you into taking such a significant leap, I’d simply advise you to prioritize things and do everything you can to cover yourself in case things don’t work out. Personally I would follow a basic principle of investing: only invest that which you can afford to lose. Go in with the understanding that you could very well lose everything you put into this and prepare accordingly. There’s definitely a sacrifice involved but as long as you can hedge against a relative catastrophe and maintain a measure of stability, I say go for it and do so with great confidence.