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FI but not red
Old 11-05-2016, 04:25 PM   #1
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FI but not red

Anyone else here financially independent but not retired? I own a small chain of coffee shops and could easily afford to retire but have not done so . I have downsized from 80 plus hours to about 20 but still find myself watching the cameras from home. My wife still lives at the shops it seems, and this bothers me a little. I don't have the corporate grind that seems common here but still not quite ready to let it go. Just curious how many are in same situation.
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Old 11-05-2016, 05:44 PM   #2
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If you still enjoy working - no need to RE. Having FI gives you options to *choose* whether to keep working or to retire... it's not mandatory to retire.
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Old 11-05-2016, 05:55 PM   #3
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Well at least you are on the right side of things.

Some people RE before they FI which is more problematic.
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Old 11-05-2016, 06:09 PM   #4
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I work for about 10 hours/week for pleasure. I don't need too. Some weeks it is more if I have a lot of things to grade.
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Old 11-05-2016, 06:44 PM   #5
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I keep working part time (small business) because:
1. I really enjoy it.
2. The hours and days are totally flexible (DW and I travel when we want).
3. The extra money is nice.

Each of the three is very important. To me. I might be bored totally FIRED.
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Old 11-05-2016, 07:01 PM   #6
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I am way beyond FI. But I really love my work. Need to wait for kids leaving for college.
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Old 11-06-2016, 06:22 AM   #7
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I am way beyond FI. But I really love my work. Need to wait for kids leaving for college.
Me too but my kids are only 8 and 6...
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Old 11-06-2016, 08:37 AM   #8
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I started a small consulting business for a while. But I did it on my terms and with the clients I wanted to support. After moving to a new city, the effort to build a client base would have been too much. So, I elected to not work for money at that time. My time is now focused on volunteering.
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Old 11-06-2016, 08:44 AM   #9
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If you know you can walk away but choose not to, you're still in a good position. Being fully FI gives you all the options, whether to keep doing what you've always done, to try a new career, to "downsize" to part time work, or chuck it all together. It's a nice position to be in.
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Old 11-06-2016, 10:13 AM   #10
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Congrats to you being FI! Continue at your own pace, make yourself happy.

As a purveyor of "fine eats" and a seeker of fine flavors, what is the favorite coffee or coffee blend of a coffee shop owner? And why?
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Old 11-06-2016, 10:28 AM   #11
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In more or less the same situation. Was FI some time ago but haven't RE yet. I do say that I am semi-RE as I reduced my hours and weeks worked last year and took on a partner.

Have owned the business since 2002. It was at one time at the multi-million yearly revenue stage but has since shrunk. Partly by design, partly due to the economy and lately partly due to benign neglect.

I keep saying I will fully RE in 2018 but we will see what happens. I'm going to up the weeks off even more next year and see how it goes. I'll have had 7 weeks off this year and am hoping to increase to 8-10 next year.

Try taking more time for yourself. As your involvement wanes you might find it is easier to let go. It has been (so far) for me.
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Old 11-06-2016, 10:54 AM   #12
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Me too but my kids are only 8 and 6...

I'm the opposite... My kids are 13 and 15 - (but were 11 and 13 when I retired).... I didn't wait.
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Old 11-06-2016, 01:36 PM   #13
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Way to go OP.
I work occasionally about 130 -> 200 hrs per year, sometimes more, but it is slowly tapering off.
It provides a change of view, different interaction, and done on my terms so it's not a bother.
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Old 11-06-2016, 07:32 PM   #14
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If you are FI and working it is because that is how you want to spend your time, whether it is for enjoyment or compulsion, it matters not. By definition you do not need the money, so it can be all given to the charities of your choice and someone else can benefit from your productivity.
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Old 11-06-2016, 07:55 PM   #15
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I don't have the corporate grind
So says the owner of coffee shops. The pun is not lost on me. Is the thought of continuing to work giving you the jitters?

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Old 11-07-2016, 07:22 AM   #16
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So says the owner of coffee shops. The pun is not lost on me. Is the thought of continuing to work giving you the jitters?

Glad you caught this, I personally could be ready now but wife is not. Another key factor is we have been attempting to groom our two kids to take over the business, They do an ok job right now, but with a business that we have grown from nothing, OK isn't good enough. Competition is fierce and you have to be damn good to flourish.
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Old 11-07-2016, 09:32 AM   #17
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It was clear to me early this year that I could RE anytime. I have a date of next March 31 for 3 reasons: give DW time to get used to the concept, build up a 'cash stash' for the first year, and because I would not have as much to do over the winter. After that, I'm outta here!
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Old 11-07-2016, 10:34 AM   #18
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I am in that position even though I work for a Megacorp. Most of my job content feels more like a hobby than work at this point. They still pay me IMHO a "ridiculous" amount of money for it. But if they fired me tomorrow I can retire and not have to work anyone. That has been the hardest thing keeping me from jumping off the OMY track. But I am seeing a light at the end of the tunnel for RE in less than a year.
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Old 11-08-2016, 12:29 PM   #19
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I think it's more difficult to retire for a business owner than the more typical "w*rker bee." Your own business is much more personally invested than a "job." I am sort of both in that I used to w*rk for a Megacorp and also own a (very) small business. My "worst" year, I was w*rking 60 hours a week at Megacorp and up to 30 hours a week at the small business (relatively short time or I would not be here.)

Passing the bidness to someone else takes a certain ability to "quit" mentally as well as physically. DW and I were able to do that, even though the business was a part of my life from the time I can remember (parents started it and passed it to us.)

One piece of free advise (and you know what that's worth): We (and especially parents) found it much easier to get into business than to get out of it. Parents all but "gave" the business to DW and me because they could not sell it for anything close to what they perceived its value to be. We found the same issue when the time came, but were finally able to extricate ourselves by selling on contract. It's tricky, but it has worked.

So I was FI at 51 but waited to 58 to retire because (INTJ's, stop reading now) I still enjoyed my Megacorp j*b. When I didn't, I pulled the plug over a long weekend. I really think it is a matter of doing what you want with your life. If w*rking or owning a business is more fulfilling than FIRE, then don't second guess your decision. Just be alert to the changes you are experiencing so that you will be aware of when it is time to make the transition from w*rk (however you define that) to retirement. As always, YMMV.
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Old 11-08-2016, 03:08 PM   #20
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Originally Posted by Koolau View Post
I think it's more difficult to retire for a business owner than the more typical "w*rker bee." Your own business is much more personally invested than a "job." I am sort of both in that I used to w*rk for a Megacorp and also own a (very) small business. My "worst" year, I was w*rking 60 hours a week at Megacorp and up to 30 hours a week at the small business (relatively short time or I would not be here.)

Passing the bidness to someone else takes a certain ability to "quit" mentally as well as physically. DW and I were able to do that, even though the business was a part of my life from the time I can remember (parents started it and passed it to us.)

One piece of free advise (and you know what that's worth): We (and especially parents) found it much easier to get into business than to get out of it. Parents all but "gave" the business to DW and me because they could not sell it for anything close to what they perceived its value to be. We found the same issue when the time came, but were finally able to extricate ourselves by selling on contract. It's tricky, but it has worked.

So I was FI at 51 but waited to 58 to retire because (INTJ's, stop reading now) I still enjoyed my Megacorp j*b. When I didn't, I pulled the plug over a long weekend. I really think it is a matter of doing what you want with your life. If w*rking or owning a business is more fulfilling than FIRE, then don't second guess your decision. Just be alert to the changes you are experiencing so that you will be aware of when it is time to make the transition from w*rk (however you define that) to retirement. As always, YMMV.
I do appreciate the advice
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