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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 11:22 AM   #21
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Re: Retire Early with a fun $30K job?

My opinion is you are out of your freaking mind. Work at the 300K per year job until it runs out or you've saved up a couple million or more.
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 11:29 AM   #22
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Re: Retire Early with a fun $30K job?

Why would a business grossing 300k for you only sell for 300k Wouldn't you be able to sell it for 7 figures?
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 11:31 AM   #23
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Re: Retire Early with a fun $30K job?

Depends on how tough it would be for a new owner to step in. If the job requires a whole lot of contacts and/or specialized knowledge, that drives the selling price down.
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 01:30 PM   #24
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Re: Retire Early with a fun $30K job?

Quote:
Originally Posted by Laurence
Why would a business grossing 300k for you only sell for 300k Wouldn't you be able to sell it for 7 figures?
Consulting job in Iraq?
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 02:20 PM   #25
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Re: Retire Early with a fun $30K job?

Quote:
Originally Posted by HFWR
work <> fun...
Hey - what happend to that filter? I'm seeing the whole word again! NO!!!

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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 02:44 PM   #26
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Re: Retire Early with a fun $30K job?

Sorry... time for the rose-colored glasses (or shrooms, you pick...). 8)
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 02:56 PM   #27
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Re: Retire Early with a fun $30K job?

Quote:
Originally Posted by Shabber
I will get a large inheritence when I am approximately 58
uh, that's creepy! Or is this some sort of trust?
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 03:08 PM   #28
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Re: Retire Early with a fun $30K job?

Quote:
Originally Posted by astromeria
* * * *
Quote:
I will get a large inheritence when I am approximately 58
uh, that's creepy! Or is this some sort of trust?
I have run into some unorthodox arrangements in the past. For example, your childless millionaire uncle may say "Once I turn 75, I'll start turning my money over to you yearly, one million at a time, to minimize taxes". There are more things in heaven and earth, Horatio...* :
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 03:45 PM   #29
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Re: Retire Early with a fun $30K job?

i only made the inheritance assumption after i held court-appointed guardianship so that i had control of all legalities, finances, etc.

even then i didn't exercise that assumption until i was pretty sure i could make it on my own without the inheritance, even if that meant selling out here and moving to panama.

and even then i didn't utilize that assumption or chance exercising that option until life just got me down enough to take the bold step of retiring early.

i'm feeling much better now.
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 04:20 PM   #30
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Re: Retire Early with a fun $30K job?

Just to make sure we are talking the same....

I read that he is 'making' $300K, not grossing $300k in his business. I would assume that the billings is a lot higher... maybe some people are meaning the same thing... but I want to make sure...

But, no answer to my questions.
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Re: Retire Early with a fun $30K job?
Old 07-14-2006, 06:19 PM   #31
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Re: Retire Early with a fun $30K job?

Quote:
You say you only have $250,000 at age 39, but are making $300,000 per years... where did you spend all the rest of the money

If you can save $200,000 in one year, then again, why only $250,000 in savings?

If it really is making $300,000 per year, then it would be worth a lot more than that to sell... at least over $1 million... but, is it really? Does you partner have to work twice as hard to get the $300,000 that you make?? If someone goes, someone else has to come in and do the work.. maybe he can not and your share is worth zero..

Like someone else said, can you live on $57K Not likely if you have been making $300K...
well, yeah....I think this is a joke and this guy is the brother of the "I am 16 years old and want to retire early" guy.....
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Re: Retire Early with a fun $30K job?
Old 07-16-2006, 04:50 AM   #32
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Re: Retire Early with a fun $30K job?

Lot's of questions...
The business is very dependent on me & my partner working there so that is why it can't sell for much more than 1 to 1.5 earnings. He would be the only person willing to buy it. I live on only the 57K now so the lifestyle change won't be anything. Very true points about inheritence I am taking that out. I am married with wife that works and provides health care for both of us free. She has 20 years left of work. No kids now or in future. We own a 600K house with 20% equity.

- Shab
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Re: Retire Early with a fun $30K job?
Old 07-16-2006, 06:28 PM   #33
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Re: Retire Early with a fun $30K job?

Hire someone to take your place and train them then see if you can cut back.
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Re: Retire Early with a fun $30K job?
Old 07-17-2006, 09:53 AM   #34
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Re: Retire Early with a fun $30K job?

Quote:
Originally Posted by Shabber
Lot's of questions...
The business is very dependent on me & my partner working there so that is why it can't sell for much more than 1 to 1.5 earnings. He would be the only person willing to buy it.* I live on only the 57K now so the lifestyle change won't be anything. Very true points about inheritence I am taking that out. I am married with wife that works and provides health care for both of us free. She has 20 years left of work. No kids now or in future. We own a 600K house with 20% equity.

- Shab
How does your wife feel about this?

What kind of job are you thinking about?

Have you and your partner thought about hiring an employee to cut down on the work load?
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Re: Retire Early with a fun $30K job?
Old 07-17-2006, 12:17 PM   #35
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Re: Retire Early with a fun $30K job?

I think the problem is the "fun" job.* Even if you find a job that is low stress and enjoyable at first, after 3 years or so, you might find yourself bored to tears and unable to stand it any longer.

Of course you might then find another job that is fun and work there for a few years, then another, etc.......
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Re: Retire Early with a fun $30K job?
Old 07-17-2006, 12:30 PM   #36
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Re: Retire Early with a fun $30K job?

Why are other people's problems so much cooler than our own?

I am pretty sure I have never had a "problem" halfway as nice as this guy's.

Ha
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Re: Retire Early with a fun $30K job?
Old 07-17-2006, 01:09 PM   #37
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Re: Retire Early with a fun $30K job?

Quote:
Originally Posted by HaHa
Why are other people's problems so much cooler than our own?

I am pretty sure I have never had a "problem" halfway as nice as this guy's.

Ha
Amen to that.
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Re: Retire Early with a fun $30K job?
Old 07-17-2006, 02:28 PM   #38
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Re: Retire Early with a fun $30K job?

After my retirement, I will have a fun job: Jazz Musician. I probably won't make 30K per year. I'll make about (pulls out last year's tax return) $-1.9K per year. I had a good year in 2004, I made $-588!

But technically, it is a job, and it is fun.

Like the gamblers say: I hope I break even, cause I could really use the money.
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Re: Retire Early with a fun $30K job?
Old 07-17-2006, 07:28 PM   #39
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Re: Retire Early with a fun $30K job?

Lets see work 10 yrs to get 300 k
or work one yr to get 300k


I have thought about talking about the drums. Maybe we can form the early retirement band and write off our travels
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Re: Retire Early with a fun $30K job?
Old 07-19-2006, 05:54 PM   #40
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Re: Retire Early with a fun $30K job?

I am a security guard and make about 24k per year. I like the job but some of my co workers drive me crazy. You got me thinking how many fun jobs are their that pay 30k? What are some of them?
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