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Jane Doe jumping in!
Old 09-22-2005, 06:47 AM   #1
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Jane Doe jumping in!

Hi All!*

I’m “jumping in” here.* Seems like it’s the right time to get my feet wet.* I’ve been lurking here since last February when I* came across this board.* I really want to thank all of you
(especially Dory!) for giving us so much information and guidance!* The humor and camaraderie is fun, too!*

Background - married to DH for almost 25 years.* Lived in same house for 20 years.* Two kids - senior in HS and oldest is in third year of college (state school).* Both are pretty
independent, like their folks.* Husband and I have pretty much always been in business for ourselves.* He had a small business in the construction field and I did his books and office
work from when the kids were small.* Have bought and sold real estate.* Kept some as rentals - our main one has commercial buildings which we built years ago and have several businesses as tenants.* Right now have stopped construction business and are both concentrating on a business (bar/hospitality) we started a few years ago.* We have some cash in the bank, but have a lot tied up in real estate.*

Our dilemma, and what brought me to this wonderful board* to begin with:* someone approached us to purchase our commercial buildings and I realized that for the right price
we could be done and “outtahere” if we play our cards right.* That deal didn’t pan out, and we have done a lot of thinking as to getting our ducks in a row.* Our bar business is
located on that property.* If we wait for another year, there are some* things coming to fruition that will give me a nice pay off and I can sell it for a nice little profit.* That’s the
first goal.* I feel like it’s a carrot sitting in front of me, keeping me going like the little engine that could!* My husband doesn’t mind the go, go, go, but I’m burnt out and really can’t wait for the sell out.*

Meanwhile if we just sell the business alone, we can live off the rent money (plus our other rents) pretty comfortably, but ...... If we sell the whole property, that would pretty much
set us up.* We don’t want to rush into anything on that, as there are things changing in the neighborhood and community that should only enhance our property values, plus I need to wait to sell the bar.* However, with the RE “bubble” you never know -- I’m a real “bird in the hand” person and think if next summer the right offer comes we will grab it!

So ...... I have been reading (mostly inter-county library, some ebay purchases) LOTS of* books as well as magazines, websites, and of course, here.* I have quite few ideas,
questions, etc. as to what to do with the money if and when we sell the property.* I really don’t want to do anything stupid.* I will start a new thread later on (I know, you-re all saying thank God, she’s finally shutting up! )* regarding portfolio/investing Q’s.

Thanks again for this board!* You guys (and gals) are the Bomb!

“Jane”
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Re: Jane Doe jumping in!
Old 09-22-2005, 11:25 AM   #2
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Re: Jane Doe jumping in!

Welcome Jane!

It does sound like you have a great opportunity in front of you as far as selling the real estate. Do you think DH is ready for the lifestyle change? Most people on this board would think that if you can make the money without all the work, then what is the point of working, but it has to be the mindset too.

Good luck! Shiny
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Re: Jane Doe jumping in!
Old 09-22-2005, 12:56 PM   #3
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Re: Jane Doe jumping in!

Shiny,
Thanks for the welcome!* Actually my husband always told me that he wanted to retire young (hoped for age 40!).* I couldn't figure out how we could do it till the light bulb went off this past Feb.* Meanwhile, we both are quite able to keep busy and are used to being together all the time - it's pretty cool to be married to your best friend!* - so it's just a matter of keeping out of trouble!* We are both like-minded financially (more or less) which helps a lot.* One thing that worries me is that he says he may start up another (small) business later on.* *:P I told him he better count me out!* Hopefully I'll be able to talk him out of it and keep him busy doing other more fun things!!* We love to travel, snorkel, dance and used to sell stuff we bought in thrift shops on ebay just for fun a few years ago before we started up the bar.

I do appreciate your heads up, tho!* Someone like my DH needs to be kept busy and sometimes I don't think people put enough thought into it.* All I know is I can think of a ton of stuff I want to do - re-do the house (paint, new carpet - we are DIY'ers), volunteer again!,* and get into better shape!

Thanks again, "Jane"
P.S. I forgot to put in our ages, just FYI, DH is 52 and I'm 44.
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Re: Jane Doe jumping in!
Old 09-22-2005, 02:04 PM   #4
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Re: Jane Doe jumping in!

Quote:
Originally Posted by Jane_Doe
...One thing that worries me is that he says he may start up another (small) business later on.* *:P I told him he better count me out!* Hopefully I'll be able to talk him out of it and keep him busy doing other more fun things!!
For the true entrepreneur, starting up a business is the fun part. What gets to be a chore sometimes is running the business. So if he is interested in starting a business that runs on its own so he can sell it to someone that likes to buy a “prefab” business, there’s nothing wrong with that. I may do that myself a few times before I die.

A good book that touches on this topic is the E-Myth by Michael Gerber.



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Re: Jane Doe jumping in!
Old 09-23-2005, 04:59 AM   #5
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Re: Jane Doe jumping in!

Dear Retire @ 40,

Thanks for the book* recommendation.* I'm not sure if I will pass it on* - he doesn't need a lot of encouragement to get into a "project."* Full of more ideas than anyone else I know.* Makes my head spin, since I'm the board he bounces his ideas off of.* Anyway, if and when we finally sell our bar, I may be a little more open to listen .....* I still think* there are PLENTY of things to do that do not have to do with w*rking, and look forward to having an open schedule.* *

I look forward to being on the board now - it's a little intimidating since so many of you all are so well versed in investments.* Sometimes the* more I* read, the more turned around I get! :P* * Anyway, I will try to come up with some good questions for you guys.* I'm really glad in some ways that I have at least a year to go as it will give me plenty of time to do my homework!

Thanks,
Jane*
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Re: Jane Doe jumping in!
Old 09-23-2005, 07:42 AM   #6
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Re: Jane Doe jumping in!

The more you read, study and invest yourself, the more you come to know that which can be known, come to know that which cannot be known, and thus are more able to evaluate risk/reward yourself.
Good luck on your endeavor. I'll bet if you sell this business you'll be in a new one in 5 years. (I'd love to come and buy a few cold ones at your new grill on the florida atlantic coast!)
Uncledrz
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Re: Jane Doe jumping in!
Old 09-23-2005, 08:03 AM   #7
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Re: Jane Doe jumping in!

Welcome and you guys sound like a neat couple. I suspect ER will be just a small bump which you will fly over. You've got lots of things to do, so you won't be bored. Making up your mind to retire is 50% or more of any ER problems, and since your DH wanted to go early anyway, hey.... you're there! Good luck.
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Re: Jane Doe jumping in!
Old 09-23-2005, 11:08 AM   #8
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Re: Jane Doe jumping in!

Hey, Eagle & Unc,

Thanks for the encouragement and warm welcome. Unc, I'd love to have a beer with you! But, remember I am determined NOT to go back into business after this one!! However, I DO like the Florida East Coasst, so maybe when we are quieted down after all this, we can have that beer! I feel like I've already gotten to know so many of you all just by reading lots of posts these last few months. This is such a great forum and I feel fortunate to have come across it.

I am not worried about retiring (i.e. what to do) really. I AM concerned about making sure I take care of our finances so that we grow our nest egg and not eat into it. I have been taken copious notes and mental notes as well. I am working on formulating a financial plan that I will then run by you all with questions, ask for imput etc. Too much work right now - as it is I'm sneaking online when I can between craziness!

I'll be back ........

Jane
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Re: Jane Doe jumping in!
Old 09-24-2005, 01:05 PM   #9
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Re: Jane Doe jumping in!

Quote:
Originally Posted by Jane_Doe
I look forward to being on the board now - it's a little intimidating since so many of you all are so well versed in investments.* Sometimes the* more I* read, the more turned around I get! :P* *
Hi Jane - welcome to the forum - don't be intimidated.* I'm just like you in the "getting turned around" department.* But I've learned a lot hanging around here, and reading.* It takes time to absorb all the info out there, and this gang is very helpful as well as a lot of fun.
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Re: Jane Doe jumping in!
Old 10-02-2005, 06:57 AM   #10
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Re: Jane Doe jumping in!

Thanks, Sheryl!

So far everyone has been very nice. I have posted my first stab at trying to getting a plan together under Fire & Money. Everyone is really helpful - I am just glad I have over a year to try and figure all this out!

Good luck to you too! See you around.

Jane
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Re: Jane Doe jumping in!
Old 10-23-2005, 09:56 AM   #11
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Re: Jane Doe jumping in!

Welcome to the board.
I have had fun with the board and it is a way to connect with like minded folks and ruminate over solutions to our goal of ER'g. Sometimes with a parner that is a go, go type it is hard for them to realize that thier partner has different ideas and needs. Getting through to them can be trying, but it can be done. Sounds like you two get along fine anyway so you will work it all out. The finances are someone else's ballywick not mine, there are some good resources for that information here just ask.
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Re: Jane Doe jumping in!
Old 10-24-2005, 08:52 AM   #12
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Re: Jane Doe jumping in!

Hi Kitty!

Thanks for the warm welcome and encouraging words. I am sure we will do fine, as long as I can finagle the finances to ensure we won't outlast our funds, and I think it is very doable. It's exciting just to think of having the time to pursue our interests other than work! Today is our 24th wedding anniversary so hopefully we have that getting along part down!

On another note, I am so glad to hear you are alright - I have been wondering how you made out with your farm (just read your new thread on the "Life after Er" section). I had been following your posts back in the summer, and imagined you busy there (hoeing! ). Sorry to hear you are having trouble at work, but I really believe in the old adage of when a door closes, God opens up a window. When I read of your plans, it amazes me! You sound like a really cool person! I wish you the best of luck in retiring and getting away from the bad situation at work.

Thanks again for your encouragement! It is such a nice community here - everyone really wants to help each other and share their experience and expertise. I feel very fortunate to have found it. (Thanks, Dory!)

Jane
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Re: Jane Doe jumping in!
Old 10-24-2005, 11:02 AM   #13
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Re: Jane Doe jumping in!

Welcome to the board Jane. There are some really smart people aboard and they are so willing to share with some of us who are not quite so smart!

Happy Anniversary!!!

Dreamer
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