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Hi there. Fellow job quitter here, (though for extremely long vacation rather than bootstrapping). A lot of people in this thread are telling you not to quit yo

Hi there. Fellow job quitter here, (though for extremely long vacation rather than bootstrapping). A lot of people in this thread are telling you not to quit your job because they are scared of not having "a long runway". I'm going to tell you about the other side of that. Understand how much it actually costs to live for a year. In reality it doesn't cost all that much. You can live comfortably in Boston or Paris, not cheap cities, with loads of extra traveling to keep yourself happy, for less than $20k/year without resorting to sleeping on couches or in your parents' basement. If you cut out expensive traveling, the truth is that reasonable rent and healthy food aren't _that_ expensive. Talk to your current employer before quitting. If they are happy with you now, they will most likely be happy to re-hire you in 7-12 months or however long when things don't work out as planned. Don't say that you're quitting. Say that you're leaving to try to start a business and that if it fails you'd love to come back. If the people who are currently happy with you and who matter aren't still at CompanyX in Y months, plan now to hit those people up directly at whatever their CompanyZs when things don't work out as planned. But ask now before you quit. Get a gym membership and use it at least 3 days per week.

BugsJustFindMe 10y ago
One more thing. Remember that the cost of doing this is not just your cost of living for the duration. You also lose all of the salary+benefits that you would have made. Loss of continued earnings can have a big impact on retirement investment accounts long term. Prepare yourself psychologically for that reality with a quick lifetime opportunity cost calculation now.
- daveguy 10y ago
  A quick "lifetime" opportunity cost is a bit misleading. A quick 1-2 year opportunity cost (but realize part of that difference is being able to invest that 1-2 years of savings). You will want to re-evaluate in a year anyway to see if you are accomplishing what you set out to accomplish. If not, you can get back into the workforce with a good story to tell. Edit: Just realized you only have a few $k Do not do this on only a few $k. You need enough to live on while you try. Also the opportunity cost includes using your savings so what that would have been invested really is a lifetime opportunity cost. If you are going to do it with just a few $k at least get rid of as many subscriptions as you can (gym, or better running shoes, and low bandwidth internet are probably needed, but netflix, hulu, cable are not). Then calculate how many months you can live on savings. If you don't already keep good books it will probably take a few months to figure this out.
- sanderjd 10y ago
  A few years ago, I left a really good job where I worked with people I really loved, because I had gotten too tied up in it too early in life and burnt myself out with work and worry. I took about 3 months completely off and spent another month or two looking for good new companies where I felt I could have a positive impact on society. I found a good one, but unsurprisingly (in hindsight), companies like that are difficult and not the most financially rewarding. All told, I estimate the lifetime opportunity cost of that period of my life was a bit more than $100k. With that money, I could have been fully debt free, or have had a really good downpayment for a house, or my wife could have gone to grad school, or I could have saved a few percent of my total retirement, etc. etc. I don't regret the decision, but I frequently wonder whether taking the easier path financially would have left me happier today than the path I chose. I usually conclude: no. This is all to say: think about this lifetime opportunity cost question, but don't only think about it.
- LifeQuestioner 10y ago
  With that line of thinking "how much can I loose" You're never gonna just do something for the sake of fun/enjoying it/making memories/experiencing failure. Always play safe...? Might work for some - but this terrifies me!
mod 10y ago
I both agree with this comment, and want to say I'm not sure it fits OP. You can live very, very cheaply. I was almost 30 before I made 20k+/year. I never felt put out or hungry. I always had a place--usually a room in a house with other people. I paid rent every month of my life starting when I was 16, so I wasn't just bumming around, eitehr. I did feel I was "behind" my peers, sometimes. Anyway, you will find that a majority of people, particularly in places like HN where income is high, vastly overestimate the amount of money required for a single, obligation-free adult with few bad/expensive habits. During all of the above time, I didn't eat out, I didn't smoke, I didn't drink, I didn't do any drugs. I also didn't visit any doctors, buy anything new at all, etc. There are many, many tradeoffs to consider, but the point is a barebones existence to develop a website involves a safe place to sit, sleep, shower, and have internet. That can be had for a very, very small price if you are willing to, for instance, rent a room from a stranger. You can subsist on relatively healthy foods without access to a stove or refrigerator, etc. The problem typically is occupying your non-work time. For most people living in similar conditions, that's where the bulk of their money goes. As for OP: I'm not sure you're prepared to live this cheaply. If you were, it seems like you'd have mentioned it already. For a more-normal person, like renting an apartment and eating out sometimes and owning a car and tv and all--a few thousand dollars (as in singluar-thousands) is not much runway.

BugsJustFindMe 10y ago

One more thing. Remember that the cost of doing this is not just your cost of living for the duration. You also lose all of the salary+benefits that you would have made. Loss of continued earnings can have a big impact on retirement investment accounts long term. Prepare yourself psychologically for that reality with a quick lifetime opportunity cost calculation now.

daveguy 10y ago
A quick "lifetime" opportunity cost is a bit misleading. A quick 1-2 year opportunity cost (but realize part of that difference is being able to invest that 1-2 years of savings). You will want to re-evaluate in a year anyway to see if you are accomplishing what you set out to accomplish. If not, you can get back into the workforce with a good story to tell. Edit: Just realized you only have a few $k Do not do this on only a few $k. You need enough to live on while you try. Also the opportunity cost includes using your savings so what that would have been invested really is a lifetime opportunity cost. If you are going to do it with just a few $k at least get rid of as many subscriptions as you can (gym, or better running shoes, and low bandwidth internet are probably needed, but netflix, hulu, cable are not). Then calculate how many months you can live on savings. If you don't already keep good books it will probably take a few months to figure this out.
sanderjd 10y ago
A few years ago, I left a really good job where I worked with people I really loved, because I had gotten too tied up in it too early in life and burnt myself out with work and worry. I took about 3 months completely off and spent another month or two looking for good new companies where I felt I could have a positive impact on society. I found a good one, but unsurprisingly (in hindsight), companies like that are difficult and not the most financially rewarding. All told, I estimate the lifetime opportunity cost of that period of my life was a bit more than $100k. With that money, I could have been fully debt free, or have had a really good downpayment for a house, or my wife could have gone to grad school, or I could have saved a few percent of my total retirement, etc. etc. I don't regret the decision, but I frequently wonder whether taking the easier path financially would have left me happier today than the path I chose. I usually conclude: no. This is all to say: think about this lifetime opportunity cost question, but don't only think about it.
LifeQuestioner 10y ago
With that line of thinking "how much can I loose" You're never gonna just do something for the sake of fun/enjoying it/making memories/experiencing failure. Always play safe...? Might work for some - but this terrifies me!

mod 10y ago

I both agree with this comment, and want to say I'm not sure it fits OP. You can live very, very cheaply. I was almost 30 before I made 20k+/year. I never felt put out or hungry. I always had a place--usually a room in a house with other people. I paid rent every month of my life starting when I was 16, so I wasn't just bumming around, eitehr. I did feel I was "behind" my peers, sometimes. Anyway, you will find that a majority of people, particularly in places like HN where income is high, vastly overestimate the amount of money required for a single, obligation-free adult with few bad/expensive habits. During all of the above time, I didn't eat out, I didn't smoke, I didn't drink, I didn't do any drugs. I also didn't visit any doctors, buy anything new at all, etc. There are many, many tradeoffs to consider, but the point is a barebones existence to develop a website involves a safe place to sit, sleep, shower, and have internet. That can be had for a very, very small price if you are willing to, for instance, rent a room from a stranger. You can subsist on relatively healthy foods without access to a stove or refrigerator, etc. The problem typically is occupying your non-work time. For most people living in similar conditions, that's where the bulk of their money goes. As for OP: I'm not sure you're prepared to live this cheaply. If you were, it seems like you'd have mentioned it already. For a more-normal person, like renting an apartment and eating out sometimes and owning a car and tv and all--a few thousand dollars (as in singluar-thousands) is not much runway.