I took a leap a few years ago. Wife and I quit our jobs and invested pretty much all of our savings and a small business loan into a business. It tanked and we limped away broke. We literally were on the verge of being homeless. I got extremely lucky and found a job. When I started my job, we had been using credit cards to pay all of our bills for about three months. That last month-we took a cash advance from a card to pay our rent. It had gotten bad.
I started working and was sucking up all the overtime I could get. That got us back on track and eventually allowed my wife to return to school. Then I was offered a really great job at more than double what I was making. Only catch was-I had to move 3000 miles to Baltimore. So we decided to do it.
We own a house now. We're not rich but money isn't tight. Wife doesn't make much but she's happy. I on the other hand am not.
I would love to open another business. Like my grandad always told me..."Son if you want to make another man rich, get a job. If you want to be rich, start your own business." He was rich. Not just monetarily but in every way possible.
I have some great ideas for businesses but after the last attempt-I'm pretty gun shy about putting it all on the line again. It's one thing to bounce back in your mid 30's. But the older you get, the harder it is to do that.
The thought of going at it again, failing and finding myself late 40's maybe into my 50's broke with no job and being that age trying to find a job...that's the chit that wakes me up in the middle of the night.
yep, same boat