DH wants to quit job to join startup

[Anonymous]

PP - Big difference in success rates between starting a consulting/brokerage/law/professional services firm and a tech startup.

[Anonymous]

Anonymous wrote:Some other posters have suggested this, tell DH to do both jobs to see if the startup is legit. The odds are stacked against the startup succeeding. Would DH be able to re-enter the job market at this high level? Are you and DH willing to draw back on your spending and budget at home? I also agree to the suggestion of having a well rounded discussion on the pros and cons of leaving current job for startup.

LOL… he will have plenty of family time while working two jobs right?

I am sure OP thinks the same. This was never about the DH spending time with the kids, it’s about using him as a piggy bank and he is no longer as lucrative a piggy bank

[Anonymous]

Anonymous wrote:

Anonymous wrote:Some other posters have suggested this, tell DH to do both jobs to see if the startup is legit. The odds are stacked against the startup succeeding. Would DH be able to re-enter the job market at this high level? Are you and DH willing to draw back on your spending and budget at home? I also agree to the suggestion of having a well rounded discussion on the pros and cons of leaving current job for startup.

LOL… he will have plenty of family time while working two jobs right?

I am sure OP thinks the same. This was never about the DH spending time with the kids, it’s about using him as a piggy bank and he is no longer as lucrative a piggy bank

Exactly. OP doesn't care what he does as long as the checks keep rolling in.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some other posters have suggested this, tell DH to do both jobs to see if the startup is legit. The odds are stacked against the startup succeeding. Would DH be able to re-enter the job market at this high level? Are you and DH willing to draw back on your spending and budget at home? I also agree to the suggestion of having a well rounded discussion on the pros and cons of leaving current job for startup.

LOL… he will have plenty of family time while working two jobs right?

I am sure OP thinks the same. This was never about the DH spending time with the kids, it’s about using him as a piggy bank and he is no longer as lucrative a piggy bank

Exactly. OP doesn't care what he does as long as the checks keep rolling in.

What is wrong with this though? I’m in my 40s with kids to support too. That means I don’t get to do everything I personally want to do. Shrug. That’s being a responsible adult imho.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some other posters have suggested this, tell DH to do both jobs to see if the startup is legit. The odds are stacked against the startup succeeding. Would DH be able to re-enter the job market at this high level? Are you and DH willing to draw back on your spending and budget at home? I also agree to the suggestion of having a well rounded discussion on the pros and cons of leaving current job for startup.

LOL… he will have plenty of family time while working two jobs right?

I am sure OP thinks the same. This was never about the DH spending time with the kids, it’s about using him as a piggy bank and he is no longer as lucrative a piggy bank

Exactly. OP doesn't care what he does as long as the checks keep rolling in.

What is wrong with this though? I’m in my 40s with kids to support too. That means I don’t get to do everything I personally want to do. Shrug. That’s being a responsible adult imho.

+1

In order for the family to consider this plan, they need to put a financial plan in place. They need to make sure they are willing to live off of much less than they are accustomed to. Because the 2-3M is not going to go far if they plan to keep living off of 400-500K each year and he's only bringing in $100K or less. Will he have health insurance? Will he have a salary? How long before the company plans to go IPO? How easily could he transition back to the "real world of non-startups" should he decide its not gonna work/it's not the work for him? Would he be happy with his job options if he needs to do that?

Once you have kids, you don't just get to randomly do what you really want to do if it's not financially savvy for your family. They have 3 teens. Will the kids get to continue with the activities they are accustomed to? Because if the job doesn't work out and let's face it, 95% of tech startups do NOT work out, will you be happy in 3-4 years when you have $1-2M for retirement and will need to drain the remaining to pay for college vs if you had kept working for 500-800K and let that other $2-3 M grow. Because if you only have $1-2M for retirement, you still need to keep working or seriously adjust what you need to spend during retirement. You won't have $300-400K/year to travel with or a luxury condo to live in. They simply need to look at the big picture---just saying they have $5M when 3M of it is easily earmarked for the future and the other $2M would disappear after 3-4 years of living off of it, is not a financially savvy outlook IMO

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some other posters have suggested this, tell DH to do both jobs to see if the startup is legit. The odds are stacked against the startup succeeding. Would DH be able to re-enter the job market at this high level? Are you and DH willing to draw back on your spending and budget at home? I also agree to the suggestion of having a well rounded discussion on the pros and cons of leaving current job for startup.

LOL… he will have plenty of family time while working two jobs right?

I am sure OP thinks the same. This was never about the DH spending time with the kids, it’s about using him as a piggy bank and he is no longer as lucrative a piggy bank

Exactly. OP doesn't care what he does as long as the checks keep rolling in.

What is wrong with this though? I’m in my 40s with kids to support too. That means I don’t get to do everything I personally want to do. Shrug. That’s being a responsible adult imho.

+1

In order for the family to consider this plan, they need to put a financial plan in place. They need to make sure they are willing to live off of much less than they are accustomed to. Because the 2-3M is not going to go far if they plan to keep living off of 400-500K each year and he's only bringing in $100K or less. Will he have health insurance? Will he have a salary? How long before the company plans to go IPO? How easily could he transition back to the "real world of non-startups" should he decide its not gonna work/it's not the work for him? Would he be happy with his job options if he needs to do that?

Once you have kids, you don't just get to randomly do what you really want to do if it's not financially savvy for your family. They have 3 teens. Will the kids get to continue with the activities they are accustomed to? Because if the job doesn't work out and let's face it, 95% of tech startups do NOT work out, will you be happy in 3-4 years when you have $1-2M for retirement and will need to drain the remaining to pay for college vs if you had kept working for 500-800K and let that other $2-3 M grow. Because if you only have $1-2M for retirement, you still need to keep working or seriously adjust what you need to spend during retirement. You won't have $300-400K/year to travel with or a luxury condo to live in. They simply need to look at the big picture---just saying they have $5M when 3M of it is easily earmarked for the future and the other $2M would disappear after 3-4 years of living off of it, is not a financially savvy outlook IMO

lol "accustomed to". What will Larla and Larlo do without this year's ski trip in Switzerland?