27 ms·
>If you start a lifestyle business in tech and adjust your life to fit the new income (house, kids, etc), who says it won't go out of business in the next 10 ye
by allencoin 11y ago
>If you start a lifestyle business in tech and adjust your life to fit the new income (house, kids, etc), who says it won't go out of business in the next 10 years
The key here would be to not adjust your lifestyle too much.
If you can live on $30,000 a year (perhaps necessitating a move to a cheaper part of the country/world), you only need to have about $750,000 invested intelligently in order to live off of the interest (assuming a "safe withdrawal rate" of 4%).[1]
Even if you double that cost-of-living, you only need to save and invest about $150,000 per year for 10 years in order to retire at the end of your hypothetical successful lifestyle tech business.
As the person you're responding to said, "I think many entrepreneurs are less interested in building Billion dollar companies and are more seeking freedom from suppressive corporate jobs," and that is definitely in reach of a savvy lifestyle tech startup founder. In fact, I've met a few of those.
[1]http://www.mrmoneymustache.com/2012/05/29/how-much-do-i-need-for-retirement/ http://www.mrmoneymustache.com/2012/05/29/how-much-do-i-need...