My advice would be to actually keep your job and work on your startup at the same time. Clearly, this is not for everyone - it can put a lot of pressure, but I do think it's sustainable 1-2 years.
Now, 60K in savings, in my mind is zero. I mean, you do need to live, and also working in your startup - very likely you'll need to spend at least 2-3K/month. You'll end up with no money in 6 months, and with your morals completely down.
If I was living in Canada, I'd keep an at least $200K safety net.
You would need to start looking for a job before you hit 0 though as it might take few months to find a job and have income again.
So 60k I would say can stretch to 2 years if you can keep your budget of spending just 2k per month. Once you only have 10k in your bank account and your business is not profitable yet you need a job.
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My advice would be to actually keep your job and work on your startup at the same time. Clearly, this is not for everyone - it can put a lot of pressure, but I do think it's sustainable 1-2 years.
Now, 60K in savings, in my mind is zero. I mean, you do need to live, and also working in your startup - very likely you'll need to spend at least 2-3K/month. You'll end up with no money in 6 months, and with your morals completely down.
If I was living in Canada, I'd keep an at least $200K safety net.
If you spend $2k/mo $60k should last 30 months, no?
You would need to start looking for a job before you hit 0 though as it might take few months to find a job and have income again.
So 60k I would say can stretch to 2 years if you can keep your budget of spending just 2k per month. Once you only have 10k in your bank account and your business is not profitable yet you need a job.
My thoughts also, I assumed I might have closer to that amount of time before hitting rock bottom
I meant $2k just for the business side, in addition to your monthly expenses.