40ish Small Biz Owner from Colorado

[outdoorgirl02]

Hi there! My husband and I each have our own small business doing something we love. We worked hard to transition from Megacorp to the freedom of being self employed. While we love our work, have a lot of freedom, make decent income and work from home, neither of us want to be doing this in our 50's. We are saving and investing much more seriously now but still have a ways to go to reach FI.

Looking forward to reading all the great advice here and connecting with everyone!


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[brewer12345]

Welcome. There are a number of members here in CO. I live in the Denver burbs.

What kind of business do you have? My DW has been self employed for over a decade as a career counselor. I was always a megacorp sukka.

 

[outdoorgirl02]

Welcome. There are a number of members here in CO. I live in the Denver burbs.

What kind of business do you have? My DW has been self employed for over a decade as a career counselor. I was always a megacorp sukka.

We are in the Denver burbs too. I am in the events industry (planning as well as teaching event planning online). My hubby is a cinematographer.

You close to ER?


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[brewer12345]

I quit in January. DW still pursues her business part time. I may be ending up with a contract job later this year, but I am deeply conflicted about going back. Since I would just be a contractor, I suppose I can always kick it to the curb if I decide I hate it.

 

[38Chevy454]

Welcome to the forum. Every person has a different definition or level of FI. Keep saving and working toward that goal. Once you reach it, then you can make choices as to what you want to do. Understanding your expenses and income needs in retirement is something that you can estimate now, then you can figure out the plan on how to get the required nestegg to support that. Your acceptable level of risk is a big factor in that equation.

It is good you like your self-employed job, beats working just to make it to an end goal while hating the journey!