3 ms·
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-
by 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.