Ask HN: How much Monthly Net Profit before quitting your Job?
I'm interested how much monthly net profit you require from your side project/weekend project before you stop working at your full time job!
However, as a general rule of thumb, if you have 12 months runway base on your current cost of living AND you make enough to cover your current monthly run rate, and your projects are potentially growing or you want to free up time for working on other things or things in general, that would be a good rule of thumb.
- How much debt do you have (baseline per month you want to pay)? - How much is your cost of living? - How much do you want for extra spending money? - How much do you want to save? - (Most important) How much will it cost to continue growing your company (or sustaining it 100%)?
- What are your responsibilities? Do you have a family?
- Do you have loans or are in debt in any way?
- How much do you have in savings? Can you afford rent for the next 6-12 months? (I wouldn't take into account the money from the side project)
- Is this side project something that you think/hope can grow big? Do you want to work on it full-time?
I would say the "durability" of your income is much more important: will you still be earning in 6 months? Two years?