re: 40K to start working for yourself-WWYD?

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You've got 40K in cash to start and need to turn that into a lifetime of earnings.

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That's nothing if you have any living expenses - you're going to be more stressed out over those factors and it will be difficult to focus on growing your business.

Businesses fail in the first year because they are under capitalized. It varies wildly based on your overhead and the cost of a specific business, but I would say a person seeking to start his/her own business needs - AT A MINIMUM - 1 year of personal living expenses, PLUS 1 year of expected overhead costs of the business. Again, this can vary slightly, but I do not think $40,000 is sufficient capital to start any significant going concern. Perhaps if you are going to continue working and use the $40k to build a part-time business or a "for profit" hobby up to something upon which one can live - maybe.

(FTR - I had a business fail, largely because of undercapitalization - and I had slightly more than $40k to start with).