As a punk rock fan (The Clash) Should I stay or Should I go? That is my question.
Quick Background:
Owe a company with about 40 employees and over 4 million in sales a year. Company is still growing but I am losing interest, hate to close it but finding it hard to find driven person to handle company. I do have some great employees. I am working over 6o Hours a week.
Finances as follows:
House - Paid off
3 Rentals: owe $175 on these total
$4.4 Million In Long Term Cd's appx 3.1 % return
$300k in retirement (sep)
$250k wifes 401K invested in very stable funds (low return)
$150K MM fund (no return)
$75K Muni Bonds / Savings Bonds , Etc
Annual expenses: Hard to pin down : 70K to 120k a year including health care / taxes
I am 50 , wife is 58. We have no children that will need our support at this time or in the future.
I keep analyzing the numbers and situation. Don't know whats stopping me except fear of the unknown. Any advice of those who have been down a similar road would be great. Any financial advice or life style advice would be great.
Quick Background:
Owe a company with about 40 employees and over 4 million in sales a year. Company is still growing but I am losing interest, hate to close it but finding it hard to find driven person to handle company. I do have some great employees. I am working over 6o Hours a week.
Finances as follows:
House - Paid off
3 Rentals: owe $175 on these total
$4.4 Million In Long Term Cd's appx 3.1 % return
$300k in retirement (sep)
$250k wifes 401K invested in very stable funds (low return)
$150K MM fund (no return)
$75K Muni Bonds / Savings Bonds , Etc
Annual expenses: Hard to pin down : 70K to 120k a year including health care / taxes
I am 50 , wife is 58. We have no children that will need our support at this time or in the future.
I keep analyzing the numbers and situation. Don't know whats stopping me except fear of the unknown. Any advice of those who have been down a similar road would be great. Any financial advice or life style advice would be great.