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Reply to "If you got off the "hamster wheel"...."
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[quote=Anonymous]1. Associate at "boutique" law firm making ~$200K. $100K in savings, $50K in retirement. 2. Left to start my own biz (totally unrelated to law). Making $0 at the start. :-o 3. 35 4. No regrets. Business eventually succeeded and now make ~$200K working 25 hrs/wk (from home) and have tons of time for family. Important caveats: 1. DW had steady income, so that made my career change much less risky--we weren't going to starve if I failed. 2. We moved to lower COL area, so our housing costs and monthly expenses decreased dramatically. 3. Started business that required <$5,000 in initial capital, so our savings weren't affected. 4. I knew that I could return to law if business failed. Not at same level, but I would have been able to make a decent living. In short, jumped off the hamster wheel, but with a parachute. I would never have done it without the items listed above. [/quote]
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