A quiet, annonymous little victory....

[Koogie]

It was the year end of my small business yesterday, so alone in the office after hours I did my net worth calcuation on a scrap of paper after closing the books. 1.019 million
Finally.
It's not the money I love necessarily but the security it provides and the potential freedom. Before my father died at an early age (for him and me) he told me to do something with my life that I enjoyed. Sadly, I never found anything.
But, I am fairly good at making money and always wanted the freedom to find that "something" Soon, this money will make that possible.
It's been a long hard five years since I started. I've taken a total of 10 days off in five years (7 days of holiday, 2 for emergency surgery for a leg I snapped near in half and 1 for my MIL funeral) and the stupid industry I am in is very high stress (being a middleman basically).
But, I don't want to make it sound all bad. I'm quietly happy and quietly proud today. Thought I would post it here where I lurk nearly everday and dream my dreams !

Since this section is called Hi, I am... 35m, married, Toronto Canada. Started small business 5 years ago after being laid off by egotistical, silver spoon former bosses. Started from a computer bought on my credit card in my bedroom. Didn't have a pot to piss in at the time. Only 5K in savings, a new house with big mortgage, disabled wife and it was Xmas ! ha ha... still seems like a Dickens story !!

75% of net worth is business equity. 15% house equity. 10% cash/investments.

Looking to retire in 3-5 years to enjoy travelling with my much better half.
Will continue to lurk here to learn more about investing and gain inspiration from other peoples stories and blogs.

Good luck to you all.

[haha]

Originally Posted by Koogie

It was the year end of my small business yesterday, so alone in the office after hours I did my net worth calcuation on a scrap of paper after closing the books. 1.019 million
Finally.
It's not the money I love necessarily but the security it provides and the potential freedom. Before my father died at an early age (for him and me) he told me to do something with my life that I enjoyed. Sadly, I never found anything.
But, I am fairly good at making money and always wanted the freedom to find that "something" Soon, this money will make that possible.
It's been a long hard five years since I started. I've taken a total of 10 days off in five years (7 days of holiday, 2 for emergency surgery for a leg I snapped near in half and 1 for my MIL funeral) and the stupid industry I am in is very high stress (being a middleman basically).
But, I don't want to make it sound all bad. I'm quietly happy and quietly proud today. Thought I would post it here where I lurk nearly everday and dream my dreams !

Since this section is called Hi, I am... 35m, married, Toronto Canada. Started small business 5 years ago after being laid off by egotistical, silver spoon former bosses. Started from a computer bought on my credit card in my bedroom. Didn't have a pot to piss in at the time. Only 5K in savings, a new house with big mortgage, disabled wife and it was Xmas ! ha ha... still seems like a Dickens story !!

75% of net worth is business equity. 15% house equity. 10% cash/investments.

Looking to retire in 3-5 years to enjoy travelling with my much better half.
Will continue to lurk here to learn more about investing and gain inspiration from other peoples stories and blogs.

Good luck to you all.

Congrats, you did a great job.

Ha

[DangerMouse]

Congrats on reaching such a significant milestone in such a short space of time.

[Homer]

congrat, you story almost make me shed some tears.

may i ask what you do? i would like to do something that productive too

[Gumby]

Well done Koogie.

[FUEGO]

Sounds like the American dream. In Canada.

[retire@40]

Good job, but how much is the business worth without you?

[samclem]

Congratulations, Koogie. Some unsolicited advice--try to slow things down a bit now that things are running well and the wolf isn't at the door. Nothing drastic, but take a day off now and then to spend with your bride. It won't be fun if you reach ER but don't know each other anymore.

[bssc]

Congratulations. And those are Canadian dollars.

[chinaco]

Congrats Koogie.

What type of business do you own?

[Midpack]

Well done Koogie, you've done very well for yourself. Not that it matters, but I fly into Toronto quite a bit visiting business associates down the road from you in Guelph. Very good business friends...

[Koogie]

Thanks to all for your kind words. I actually own a small transporation company and no, the business would unfortunately die without me. I'm looking into a "successor" but we'll see how that goes. It will certainly be a plum for them.
I do try and take it easy at home and not drag the stress into my personal life. Not always successful though (damn crackberry). And yes, those are CAD$ figures. If oil continues the way it has been and the exchange reverses again, I'll be worth even more in US$ figures again...
Guelph, eh ? Nice little city. Some of my best customers are actually in Guelph. It's what a mix of industry, university and enterpreneurial companies should be like in a town when the city council understands that people work at COMPANIES mostly and that if you want to actually have your citizenry employed you shouldn't tax the employers to death like most of them do. Sorry, but you won't find many Canadian business people who don't like a good rant about taxes.... !

[Westernskies]

Congratulations, and good luck on the exit strategy.
All the best.

[Milton]

Congratulations on passing the $1 million milestone.

Originally Posted by Koogie

75% of net worth is business equity. 15% house equity. 10% cash/investments. Looking to retire in 3-5 years to enjoy travelling with my much better half.

Is the business equity in the form of real property or other hard assets?

If you are attributing significant value to rapidly depreciating assets like computer systems, or intangibles like 'goodwill', you should consider consulting an accountant (preferably a CBV) before basing any retirement decisions upon the presumed value of the business.

Originally Posted by Koogie

Before my father died at an early age (for him and me) he told me to do something with my life that I enjoyed. Sadly, I never found anything.

Good advice, although sometimes it is easier said than done.

If by the age of 35 you have not yet discovered any activity that you enjoyed, you should take steps immediately to start finding your calling. Don't wait until retirement for some sort of epiphany to occur.

[Koogie]

Actually, the business value is 70% cash, 25% receivables and 5% hard property. I'm lucky that way to have a business that is service based with a low amount of hard assets that would just age or rust.
I'm not counting on retirement to give me an epiphany but more the chance to sit on various rocks around the world and try mightily to squeeze one out. I read a very good blog the other day by someone who suggested the same thing as you. He said if your idea of a good time is sitting on the couch eating cheesies and cursing w*rk for stopping you climbing mountains... it's unlikely retirement is going to get your cheese-eating *ss up and at it them..