I'm choosing to have a largish bankroll this time because, quite frankly, I don't want to have to make the sacrifices that are otherwise likely when you don't have an ongoing income -- and during the initial stages of a business, you won't have a meaningful income personally, it will be going into the business.
I could get by without the bankroll, as I've done before, but this time I want a little bit more comfort.
I should add that this is because of how I prefer to do business -- I am unwilling to take debt, large investments or VC money. Not that there's anything wrong with doing those things -- they just don't mesh well with my personality.
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I'm in my late 50s.
I'm choosing to have a largish bankroll this time because, quite frankly, I don't want to have to make the sacrifices that are otherwise likely when you don't have an ongoing income -- and during the initial stages of a business, you won't have a meaningful income personally, it will be going into the business.
I could get by without the bankroll, as I've done before, but this time I want a little bit more comfort.
I should add that this is because of how I prefer to do business -- I am unwilling to take debt, large investments or VC money. Not that there's anything wrong with doing those things -- they just don't mesh well with my personality.