Reply to DH wants to quit job to join startup

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]He's earned the right to do what he thinks he wants to do[/quote]

Ummm...No.  When you have a family with kids, your first responsibility is to your family.  You need to have a plan in place for that.  If they can live on $150K/year for 6 months and be happy, then maybe he can switch.  But once you have a family, you don't just get to make decisions just because---you must look at the bigger picture.  [/quote]

They are sitting on $5m of LIQUID assets...are people missing this??  If my partner told me I couldn't pursue an exciting career opportunity because I "only" had $5m in the bank I would laugh at him.

However, I am sympathetic to the concerns the OP has about managing family life and their special-needs child.  I think that is the direction the conversation needs to go in.  [/quote]

They need to have an honest fair discussion about the future and budget.  $1-1.3m is for college.  The rest is likely retirement.  So setting aside $2m for retirement they have ~$2 M to live off of.  What will his salary be with the startup?  Will he have insurance?  Or do they need to budget 30k+ for medical?  That $2m won’t go very far if they are spending 400k each year to live can they still afford the activities the ms/HS kids ware used to?  That is likely costing 20-30k for 3 kids.  They just need to have a talk.  How easy would it be for him to return to his previous job or one like it if he decides the startup is  not his thing? Because the $2 M to live off of is not much with 5 people who are used to spending 400k + per year.

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