1 year later...here's what I did.
1.)I sold my business which was very beneficial. Due to current national leadership, I did NOT want to expand my business and hire more people (was at 45 employees....could easily have gone to 60 full-timers) ....and also wanted a good 'nest-egg' in the bank should things go to hell. I took care of many long-term employees fairly.
Bottom line....
I had $3.4 million banked, + home paid off. Pessimist that I am, I wanted to have money for private doctors, private school, etc. I decided...that with interest rates so low, I could not earn $200k/year on my investments with low-risk investments. And yes, certain luxuries I didn't want to forgo.
So, bought another business! LOL. But....instead of being 100% vested, I only vested $700k with the total biz value@$2 million. (This is precisely how I did my 1st biz, albeit that was half the value) Again this was a struggling business needing turnaround.
I RELOCATED and to my surprise...6 key employees came with me! They could get jobs at home anytime, but we all love working together so they made the journey.
So.....the new picture:
$1.7 mill in the bank.
$1.2 mill primary home...no mortgage.
$700k vested in new business.
The old house I kept. Just in case the new biz doesn't work out, and I sell the "1.2mm house"....at least we'll move back to a home and state that we're comfy with.
New Biz: If I fail, odds are I'd get most of my money back. If I succeed again, it would easily sell for $1.8mm. This whole year has been profitable so far, fingers-crossed. (Luckily, I won't go over 49 employees. ).
Kicker: New Biz, I pay myself a salary....so I now have $200k per year cash-flow.
Bottom line....
* $200k income is sustaining the lifestyle I want. No mortgage expense.
*My key employees followed me to new Biz....so I actually have enough quality-time with kids and Wife. I work 50 hours a week....which is better than the 70+ i used to work at the last start-up. Also 100% flexibility in my schedule like I've alays been used to...so can take time or days off when needed.
My current realistic goal:
Let the nest-egg earn 2-3% ROI. So i'd "bank" $40k per year. Grow the new-business but sleep well at night knowing that MY risk isn't "all in" like it used to be. Hope to turnaround and sell new-biz in 5 years. If not, hope to get my $700k out of it, go back to my old home with $3.4mm...and then weigh options. But by then hopefully CD's pay 3-4%, and not 1%. IF IF it works out and I sell new-biz successfully....I'd retire if I could have $4.5 mill in bank, + 1.2mm house paid for. So maybe in 5 years when I'm 43 years old. Maybe not.
So i'm not retired. But I have what I want...and now I'm sleeping well at night knowing that nest-egg is there and that NOBODY can get to it because I have no loans, no mortgages, no 'personal guarantees' for business, nothing.
Thanks to all who advised, took interest, mocked, encouraged, whatever.
Hope everyone is doing well.
