Strong possibility I will be quitting my current job as a CPA/tax preparer within the next year and hanging my own shingle and starting from scratch. My spouse does not work outside the home and if possible we'd like to keep it that way since we've have two kids. I'm thinking 2 years worth of living expenses would be sufficient (not including cash intended for the business). For what it's worth, I do have very detailed records of necessary living expenses and am quite frugal by nature.
If the living expense fund starts to run dry after 1.5 years and the business isn't growing, I figure my skills are marketable enough to get another job relatively quickly.
My question for the forum is how many months/years of living expenses saved up would make you semi-comfortable with a situation where you start a business from scratch with no income? Any additional advice from those that have done it?
If the living expense fund starts to run dry after 1.5 years and the business isn't growing, I figure my skills are marketable enough to get another job relatively quickly.
My question for the forum is how many months/years of living expenses saved up would make you semi-comfortable with a situation where you start a business from scratch with no income? Any additional advice from those that have done it?
Statistics: Posted by AnswerMan — Thu Oct 17, 2024 5:15 pm — Replies 1 — Views 149