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It isn't just psychological. There is very real risk involved. An awful lot of entrepreneurs don't succeed the first time, but eventually figure it out. Now i
by _jal 9y ago
It isn't just psychological. There is very real risk involved.
An awful lot of entrepreneurs don't succeed the first time, but eventually figure it out.
Now imagine you're married to someone who just folded a company that ate two years of their life and most of their savings. How enthusiastic are you for the next run? I don't call that a psychological effect. The partner is right - there is a very real risk of failing again, with worse outcomes. If, however, you have enough zeros in the bank (or an account at the Bank of Mom&Dad), eh, it is "just" a failure.
That isn't my story, but somewhat close. Started a company, we never quite "hit", but we hit profitability, were growing organically at a healthy clip and never had to take money. Made a mistake around the end of year three that killed us in year five. And that's how I spent 15 years of savings. I've come close to trying again, but I'm now at an age where that's increasingly stupid without a substantial cushion in the bank, unless you happen to like the taste of cat food.
- felipemnoa 9y ago>>cat food Why would you buy cat food though? It is not that much cheaper than some really cheap pasta. In college I was always on the lookout for the pasta specials at the supermarket. Pasta and some cheap olive oil is enough to get you by when times are tough . And if times were looking a bit good you could add some Feta and Ragu [1]. [1] https://www.ragu.com/ https://www.ragu.com/
- _jal 9y agoIt was a reference to a common shorthand/cliché - "cat food retirement" is one variation. I was a rice and beans fan.
- milofeynman 9y agoHealth insurance too. Unless you end up married with a SO who has health insurance and enough to support you it's risky in the US with our healthcare system.
- sjg007 9y agoIt's far far less risky with the ACA now since that is based on income and you can qualify for subsidies. Also straight out of college is less risk too if you can be on your parents insurance until age 26.