Reply to Husband wants to take a huge paycut to join a startup

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]During my late 20s and throughout my 30s, I worked for three (3) "can't miss" start-ups, going in during the very early stages.  I was supposed to have retired before age 40 being that I was one of the first persons riding the telecomm/Internet boom in the mid-90s.  Guess what?  None of the 3 startups ever went public....  At age 50, still working to recover.  Had I just worked for a more established company (or stayed on with my first job) and participated in the stock and 401K offerings, I would have close to $3-5M today.  I'm not even close.  If your hubby is raking in $600K and with the cash hoard, take it easy and enjoy the finer offerings of life.  I think your hubby is going through a phase, perhaps a mid-life crisis.  Talk him out of it for your family;s sake!![/quote]

Did you work there for enjoyment or for a potential pay-out? My friend's husband left a pre IPO start-up for a smaller, more enjoyable start-up, because it was more appealing to him, leaving behind all but a small percentage of the stock options. Several of his friends did the same. They don't regret it one bit, they really enjoy what they do. [/quote]

I did it mostly for the $$ but work environment was also important...[/quote]

Sounds like the OP and her husband will be fine regardless of whether the start up pans out or not.  Her husband has a skill set that currently earns $600k annually.  That means: (a) he has built up a skill set that its in demand, and (b) he has an established professional reputation.  This means that very few people - except those who are extremely risk averse (or wish they had the balls to go to a start up) - will look askance at him if the start up fails after 3 years.  Additionally, he will be looked at positively by venture capital/private equity firms (if he isn't already) because he has start up experience.  It's amazing how many experts have knowledge, but have only worked in large organizations with substantial resources at their disposal to accomplish their daily tasks.  Dealing with venture capital/private equity is far different than anyone else.  It's a cutthroat business and they expect a return.  In some ways, it's not all that different than the mafia and loan sharks. :shock: [/quote]

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