landlubber
Confused about dryer sheets
- Joined
- Nov 26, 2009
- Messages
- 2
Hi everyone!
I've been a lurker for about a year now and wanted to get some advice from you guys. I'm 29 and work in a high-income job ($225K last year) in the legal/finance field. But I hate it and don't want to waste any more of my life there. My current plan is to quit in six months when my lease is up and get a mobile app business off the ground. I've spent the past two months learning about the programming language, etc. so I will be prepared by the time I leave. (I also have some experience in software from college.) I expect to have less than $1,500 in start-up expenses, most of which have already been spent.
In terms of assets, I've saved over $200K in cash over the past three years and have about $100K in retirement accounts. I will have to move out of my apartment and I think I can get my expenses down to $25K a year. So even if I don't make any money at first, my cash should last for 8 years.
What do you guys think about this plan?
Also, all my cash is in ... well, cash. Do you have any suggestions on how I should invest? I will be sensitive to downswings, but would also like some upside. Are equities too risky? I was also thinking about a TIPS ETF.
Thanks in advance for your help!
I've been a lurker for about a year now and wanted to get some advice from you guys. I'm 29 and work in a high-income job ($225K last year) in the legal/finance field. But I hate it and don't want to waste any more of my life there. My current plan is to quit in six months when my lease is up and get a mobile app business off the ground. I've spent the past two months learning about the programming language, etc. so I will be prepared by the time I leave. (I also have some experience in software from college.) I expect to have less than $1,500 in start-up expenses, most of which have already been spent.
In terms of assets, I've saved over $200K in cash over the past three years and have about $100K in retirement accounts. I will have to move out of my apartment and I think I can get my expenses down to $25K a year. So even if I don't make any money at first, my cash should last for 8 years.
What do you guys think about this plan?
Also, all my cash is in ... well, cash. Do you have any suggestions on how I should invest? I will be sensitive to downswings, but would also like some upside. Are equities too risky? I was also thinking about a TIPS ETF.
Thanks in advance for your help!