When to quit the day job and invest more time into the business?

I currently make 69K working at a Governemt job that I realy don%26#039;t like. I think I%26#039;ll make 100K or so with my home business, but I%26#039;m terrorfied of quiting my day job, %26#039;cause of insurance and I have a child that has health issues.But the 2 jobs are killin%26#039; me





At point would you quit your day job and invest more time into the business?|||You should quit your day job when your able to support yourself and your child with all the expenses, bills, food, insurance, gas etc... on the money you make on your business. You may also want to build an emergency fund for yourself incase something happens. You also want to make sure that your business is in big demand.


I see you have a good paying gov%26#039;t job, so you have a tough choice to make as to when you should quit.|||6 - 12months of replacement income saved.


open Health Savings Account and fund.


credit slave cards paid off.


car loans paid off.


1K$ emergency funds saved.


solid business plan.


when u quit insurance becomes part of operating expenses.


check with local Small BusAdmin for a counselor to give u local advice from experiences.|||When your business can pay all your expenses, then you can quit and not a day before.|||At the time that you can afford to put away six months salary for your expenses, plus reserves for health insurance. If you leave your job, and you rely on it for insurance, and have a sick child, I would be very careful. I am self-employed and my health insurance ( for my family) costs $1,400.00 per month. I just got an 11% rate increase from my health insurer. We have medical issues too, so I can%26#039;t leave to find a cheaper plan. You can%26#039;t go on cobra- that will only protect you for up to 18 months. Don%26#039;t do anything until you discuss it with your accountant...


Your business may very well afford you financial freedom. However, you need to be sure you have a good business plan and really implement it. The economy is changing-- will your plan work in a different economic environment? Those are the questions you need to answer before leaving your job. Best of luck to you.|||I am in the same boat as you are. I am making alot out of my own business but my day job gets in the way. What I am doing is looking for a part-time job so that I can invest into my business but I like everyone else will not quit my whole day job until I can cover all my expenses.|||thanks for answering my other question! what i would suggest is that do something you enjoy if you can, you make a decent amount of money so that shouldnt be the issue. analyse the business carefully and should you see any increse in sales/contracts consistently then that is potentially the right time to move?