> I'm not sure young people can take financial risks, unless they're already rich.
It's a lot easier to take a financial risk when you have no dependents and no mortgage.
I quit my job to start a business in my late 20s, when I was single and had no kids. I will say that another reply's statement is very true: "If I think back to the person I was in my mid-20s, I would not have had the dedication, confidence, people skills, or even the technical know-how to pull off anything approaching a successful business."
In my case, I just wanted to be in charge of my own destiny for awhile, with the freedom to screw up. (And I did screw up.) Although I wish I did things differently, the experience itself was worthwhile. Our modern upbringings are so structured that "starting our own business" really just turns into an outlet for avoiding authority for awhile.
During my 20s, I was in graduate school and I had no money. Now I'm in my 30s making good developer money, and while I have a mortgage I also have enough saved to pay it for a long time.
I also have no dependents, which is obviously the big difference maker.
> I also have no dependents, which is obviously the big difference maker.
Yep. Just try to build significant savings with a wife and 3 kids. I'll probably never have more than a couple of months' pay sitting in savings. I realize if I lived alone I could easily live on 1/3 of my current salary. Ah well, life choices and all that...
It's a lot easier to take a financial risk when you have no dependents and no mortgage.
I quit my job to start a business in my late 20s, when I was single and had no kids. I will say that another reply's statement is very true: "If I think back to the person I was in my mid-20s, I would not have had the dedication, confidence, people skills, or even the technical know-how to pull off anything approaching a successful business."
In my case, I just wanted to be in charge of my own destiny for awhile, with the freedom to screw up. (And I did screw up.) Although I wish I did things differently, the experience itself was worthwhile. Our modern upbringings are so structured that "starting our own business" really just turns into an outlet for avoiding authority for awhile.