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As long as we're talking about consulting, you shouldn't need a few years of living expenses saved up. If you aren't making a living within the first year then
by gk1 9y ago
As long as we're talking about consulting, you shouldn't need a few years of living expenses saved up. If you aren't making a living within the first year then it's time to try something else or go back to a salaried job.
- thesagan 9y agoStraight consulting... probably not that much, I suppose, but you still need enough to carry you through a couple rough quarters (at least) to retain and serve a steady pipeline of clientele, and be able to account for payment scheduling issues that arise from time-to-time. (Those small disruptions quickly compound.) I liked having a one-year nest egg stashed away when I was operating at full-steam. And, of course, smart players will have a little next egg AND have a pipeline partly-filled before leaving a day job. :)