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>There's no way I would have been able to survive the first 6 months of my startup How much do you think is a 'good' amount to have saved up? I have a little o

>There's no way I would have been able to survive the first 6 months of my startup How much do you think is a 'good' amount to have saved up? I have a little over 6 months saved up but all the articles I read are like "You need 18 - 24 months. Minimum." which I think is complete BS, especially for a tech founder with an MVP (this isn't to say non-tech can't do it, it was more that tech people can find freelance work) Thoughts?

YPCrumble 10y ago
There are a lot of variables in play so a perfect answer isn't possible, however, calling 18-24 months BS is almost certainly wrong. 18-24 months sounds like the ideal answer. Note that you can spend $8k/month or you can spend $2k/month, depending on where and how you want to live while you're founding your startup. The nominal dollar amount could be a huge range. You could also reduce the dollar amount of savings you need by the revenue in your MVP - if you're making $1k/month on a software startup you'll probably be able to net that against your monthly spend, even if most of that $1k/month is currently going towards fixed costs. The difference between an MVP that generates revenue and one that does not is enormous.
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sanderjd 10y ago
YMMV, but personally, after a startup experience that was tough both emotionally and financially, I got a stable job and have promised not to do that again unless or until I can save up at least $300k on top of retirement savings. Basically, about two years worth of expenses plus some buffer.
morgante 10y ago
It varies for everyone, but I personally think $100k is a good goal. It's enough that you can sustain yourself for quite a while and make investments in the business without worrying too much about the immediate costs.

3 ms·

>There's no way I would have been able to survive the first 6 months of my startup How much do you think is a 'good' amount to have saved up? I have a little o

by madamelic 10y ago

YPCrumble 10y ago
There are a lot of variables in play so a perfect answer isn't possible, however, calling 18-24 months BS is almost certainly wrong. 18-24 months sounds like the ideal answer. Note that you can spend $8k/month or you can spend $2k/month, depending on where and how you want to live while you're founding your startup. The nominal dollar amount could be a huge range. You could also reduce the dollar amount of savings you need by the revenue in your MVP - if you're making $1k/month on a software startup you'll probably be able to net that against your monthly spend, even if most of that $1k/month is currently going towards fixed costs. The difference between an MVP that generates revenue and one that does not is enormous.
deleted 10y ago
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sanderjd 10y ago
YMMV, but personally, after a startup experience that was tough both emotionally and financially, I got a stable job and have promised not to do that again unless or until I can save up at least $300k on top of retirement savings. Basically, about two years worth of expenses plus some buffer.
morgante 10y ago
It varies for everyone, but I personally think $100k is a good goal. It's enough that you can sustain yourself for quite a while and make investments in the business without worrying too much about the immediate costs.